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Fraudster Akazoo Sued By SEC Hired Randy Mastro Now Says It Is Being Worked Out

By Matthew Russell Lee, Patreon
BBC - Guardian UK - Honduras - ESPN

SDNY COURTHOUSE, Oct 14 –   The SEC sued Akazoo for fraud.

Akazoo hired Randy Mastro.

  On October 7 U.S. District Court for the Southern District of New York Judge Alvin K. Hellerstein held a proceeding. Inner City Press covered it.

   At issue was whether Akazoo can keep spending money, for example on D&O insurance.

Otherwise, Mastro said, no one will work for the "good guys" at the New Akazoo.

Judge Hellerstein, praising him, said no written order would be necessary beyond the oral representations. He said he would meet with the parties again on October 14. Inner City Press covered this as well.

 On October 14 Mastro was talking about the D&O carve out, and saying he had all interested parties on board. Judge Hellerstein worried aloud about someone coming in later. We got this, Mastro in essence said. There seemed to be a preference for putting nothing in writing. The next date was set for October 17.

The case is Securities and Exchange Commission v. Akazoo S.A., 20-cv-8101 (Hellerstein)


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