Nov 19, 2004 : CyberNet Group Offices Raided

📅 November 19, 2004 - According to reports, the offices of Web hosting provider The CyberNet Group (cybernet-usa.com) were raided this past Wednesday by agents of five different federal agencies, including the FBI and IRS.

The raid took place at The CyberNet Group's offices located at 25 South Division Avenue in Grand Rapids, Michigan. Federal agents reportedly seized computers and other equipment and were back on the premises Thursday.
The reason for the raid is unclear. However, sources say the investigation involves wire mail fraud and bank fraud.
According to one report, a lawsuit against The CyberNet Group was filed in Kent County Court on Thursday, charging the company with fraud and breach of contract. The suit alleges that The CyberNet Group's founder and chairman Barton Watson and chief operating officer James Horton are operating a fake company, based in Delaware, to funnel money.
According to another report, Watson was convicted of fraud in the early 1980s. The company also previously made an out of court settlement with Hastings Public Schools after a former employee blew the whistle on improper computer sales The CyberNet Group made to Hastings Public Schools.
Lawyers for Watson and Horton have declined comment.
Employees of The CyberNet Group, sent home on Wednesday, were reportedly back at work on Friday morning.

Reads: 2338 | Category: General | Source: TheWHIR : Web Host Industry Reviews
URL source: http://www.thewhir.com/marketwatch/cyb111904.cfm
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