FBS was established over 25 years ago and has served as an investment platform for Oil & Gas, Real Estate & Private Equity Investments. Briones was appointed Chief Financial Officer on August 15, 2013. Briones has acted as the managing member of Brio Financial Group, LLC, a financial reporting consulting firm. Briones managed the public company and hedge fund practices at Bartolomei Pucciarelli, LLC (“BP”).
FBS’s original mandate was to make real estate acquisitions from the Resolution Trust Company (during the Southwest S&L bailouts). Continued Fred Zeidman has served as Chairman of the Board of Directors of Petroflow Energy Corporation since September 2011. Zeidman has also served as a director of Hyperdynamics Corporation since 2009 and as a director of Prosperity Bancshares, Inc. He served as trustee for the Aremis Soft Liquidating Trust since 2004.
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The most current financial information can be found in the Consolidated Financial Statements section of this website. Ray III was appointed Liquidating Trust Manager (“LTM”) on November 18, 2016. Ray served as Chief Counsel to the Trust from September 2015. Ray is Senior Managing Director of Greylock Partners, LLC. Ray has served in various capacities with respect to Chapter 11 bankruptcy estates. Ray served as Chief Restructuring Officer of Overseas Shipping Group and from 2014 to 2015, Chairman of the Board of Overseas Shipping Group. Ray has served as the principal officer of Nortel Networks, Inc. Ray served as the Chairman of the Restructuring Committee of the Board of GT Technologies. Ray was Chairman of the post confirmation Board of Enron Corporation and, from 2005 to 2009, President of post confirmation Enron Corporation.
Matt Doheny has over twenty years of experience in the distressed investing, turnaround and restructuring industry. Weber has over 35 years of experience in litigation support and expert witness work, restructuring consulting (both debtor and creditor) and auditing. Weber began his career at Price Waterhouse and served in a variety of positions and practices (including a 2-year foreign tour), leaving as a partner after 22 years.
Aremis Soft Corporation ("Aremis Soft" or "the Company") was a software company, incorporated in Delaware, whose main business was development and sale of computer software technology. Kyprianou and Poyiadjis sold their shares at these inflated prices to investors who were not privy to their knowledge concerning the true value of the Company. By May 2001 attention began to be focused on Aremis Soft for reporting inflated income. By May 24, 2001, at least one class action lawsuit against Aremis Soft and its directors had been filed. On July 31, 2001, the day after Aremis Soft was due to release its second quarter 2001 earnings, the Company announced that Kyprianou had resigned and that it was delaying the earnings release.
For the following reasons, I dismiss the complaint on the ground of forum non conveniens. The Scheme Perpetrated by Kyprianou and Poyiadjis Much of the following account is drawn from the Amended Complaint (the "complaint"), whose well-pleaded factual allegations are taken as true on this motion. From about 1998 through July of 2001, Lycourgos Kyprianou and Roys Poyiadjis, two officers of the Company, caused the Company to issue false public statements and regulatory filings representing to the public that it was experiencing rapid growth when in fact its growth nowhere neared the stated revenues. They fabricated records in support of these falsehoods. The effect of these fraudulent misrepresentations was that the value and profitability of the Company were perceived to be much greater than they actually were, and consequently the price at which the Company's shares were traded on the open market was artificially high. In December 2001, an indictment was obtained against Poyiadjis in the Southern District of New York, and in June 2002, a superseding indictment was returned against Kyprianou, Poyiadjis, and M. Mathews, the top Aremis Soft executive in India, on counts of securities fraud and money laundering, and conspiracy to commit both crimes.
The Nicosia tribunal ordered an immediate global freeze on the property of Lycourgos Kyprianou, and people and companies affiliated with him, in a fraud that cost shareholders 5 million, lawyers for Aremis Soft's liquidating trust said Thursday. They were discovered in 2001 and fled to Cyprus, which has no extradition treaty with the United States, the Minneapolis Star Tribune said. Last month, Poyiadjis agreed to repay investors 0 million. He later defaulted in a civil lawsuit brought by the Aremis Soft Liquidating Trust and others. The Parties Neither the swindlers or any of their co-conspirators, whose acts of fraud and theft are undisputed, are parties to this case. Defendant is a banking corporation with its principal place of business in Nicosia, Cyprus. Sarah Loomis Cave, John Fellas, Hughes, Hubbard & Reed, LLP, New York, NY, for defendants. In this diversity action, plaintiffs seek to hold defendant Bank of Cyprus Public Company Limited ("Bank of Cyprus" or "the Bank") responsible for its alleged role in connection with a massive "pump and dump" scheme perpetrated by two corporate insiders of a software company, who fraudulently inflated the company's value and then sold their shares and funneled these funds through banks in Cyprus and elsewhere. §§ 77, 78 ("SLUSA"); and (3) failure to state a claim upon which relief may be granted pursuant to Fed. In this motion defendant seeks to dismiss the complaint on three separate grounds: (1) forum non conveniens; (2) preemption of the claims by the Securities Litigation Uniform Standards Act, 15 U.