Fraud space?
One of the founders of Myspace.com asked for a federal investigation into the sale of the Web site to News Corp., claiming he has proof that the deal defrauded defraud v. to use deceit, falsehoods, or trickery to obtain money, an object, rights or anything of value belonging to another. (See: fraud) shareholders of more than $20 billion. Brad Greenspan issued a statement along with a report at FreeMyspace.com claiming he has internal documents and e-mails that indicate the company that owned MySpace, Intermix Media Inc. and executives at that company agreed to sell the popular site to News Corp. quickly to pay off debts and make a profit. Greenspan, who was the largest individual shareholder of MySpace, said the deal to sell the Web site last year for $550 million intentionally defrauded shareholders and requested an immediate investigation by the U.S. Securities and Exchange Commission, Justice Department and U.S. Senate, claiming the deal was, "one of the largest merger and acquisition scandals in U.S. history."
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