Fraud At KIT 'The Elephant In The Room,' Ex-CFO Tells Jury

Law360, New York (November 14, 2017, 7:10 PM EST) -- Former KIT Digital Inc. finance executive Robin Smyth told a New York federal jury Tuesday that he helped create bogus revenue streams for Kaleil Isaza Tuzman, the former head of the fallen tech concern, who is accused of fraud, and that they used terms like “the elephant” and “the back end” to discuss the fakery.

The Australia-born Smyth, who admitted last year to engaging in financial crimes valued at “tens of millions of dollars” while acting as KIT's chief financial officer from 2009 until late 2011,...
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