Axium Trustee Sues Former Execs Over Huge Losses

Law360, New York (April 6, 2009, 12:00 AM EDT) -- The bankruptcy trustee of Axium International Inc. has filed a suit against two former executives of the entertainment payroll processing company, accusing them of using Axium accounts to finance personal spending sprees while allowing underqualified tax consultants to underpay an estimated $100 million in taxes.

Filed April 2 in the U.S. Bankruptcy Court for the Central District of California by SulmeyerKupetz PC partner and Axium bankruptcy trustee Howard M. Ehrenberg, the suit contends that former Axium executives John Visconti and Ronald Garber's wasteful spending and gross...
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