Nelson Brady on SnapNames Scandal
Monday, November 16th, 2009
Don’t expect an explanation from Nelson Brady any time soon.
When I cover a major domain industry event, I like to get both sides of the story. So when the news about the SnapNames insider bidding scandal broke, one of my first calls was to the man allegedly at the center of the controversy, former Snapnames VP Nelson Brady.
Instead of writing about the conversation then, I wanted to wait until I had a chance to have a more in-depth discussion with Brady or his attorney. I talked to Brady’s attorney last week, and he indicated that neither he nor his client will discuss the matter at this time.
In my brief conversation with Brady the day after the news broke, he indicated two things. First, he wouldn’t implicate others in the alleged scheme [Update: A number of people have interpreted this wording to mean that he is covering for other people. I didn't have a pen and paper when I talked to Brady, so this isn't a direct quote. Essentially, I asked him if other people were involved in the alleged activity and he said no.] Second, he said there’s more to the story.
What “more to the story” means isn’t something I’m willing to speculate about.
I’m personally trying to look forward more than backward, and would like to focus on what the industry can do to make sure this sort of thing never happens again. Alas, going forward will probably require understanding what happened in the past.
Related posts:
- Answers to 3 Questions about the SnapNames Bidding Scandal
- In SnapNames Scandal, Conspiracy Theorists Were (Sort of) Right
- Brady Quinn’s Domain Name Intercepted
Tags: SnapNames
Nelson Brady on SnapNames Scandal – http://tinyurl.com/ygu7v6h
The sh*t is going to hit the fan at Snapnames, Namejet, and others very soon.
I was only affected in several Snapnames auctions, and not to any great extent financially. However, what I and almost everyone else on the various forums cannot understand is how Snapnames management can have ignored, FOR YEARS, all the correspondence, forums posts etc pointing out concerns about the “Halvarez”bidding and the probability this was a Snapnames shill bidder.
So, leaving aside the Nelson Brady / Halvarez issue itself for a minute; the bigger issue surely is the seemingly breath-taking pervasive incompetence of the Snapnames management that allowed this to go undetected
for years, and how they just blew off everyone who pointed this out to them?
Let me guess Nelson. “There was pressure to deliver ever increasing revenue from our struggling brand, NO MATTER THE MEANS…” Blah Blah Blah.
I will give you your interview. Look for the standard drivel.
“Early on, things were great, then as we had to deliver on revenue for our investors, and to enable us to be sold. We had to keep showing revenue that just wasn’t there. We pleaded for more time and patience. We were a new brand and a new concept, those things take time to establish and become mainstream. They may not have know exactly what was ging on, but they had to have known SOMETHING was up. They chose to ignore. As long as we hit our projections, they left us alone. I love the company and brand. I had confidence we would succeed, but outside pressure mounted and forced me to act. I wanted to stop but even after the sale, those same pressures were still there. So you see, it was not really my fault, I was a tool of the evil profit mongers. In fact, I am relieved it is all over. I just hope, for the sake of my co-workers and developers, the company is able to move on.”
Andrew,
There was at least one other person involved. Look at how halvarez’s domains were monetized and who made the sales to IREIT.
“First, he wouldn’t implicate others in the alleged scheme. Second, he said there’s more to the story.”
Of course there is! So spill it. This confirms for me that this THEFT, FRAUD, WASTE AND ABUSE was a well coordinated scheme between greedy execs at the company. This guy was just a fall guy, like Madoff. THAT is why they ignored everyone’s pleas for an investigation into Halvarez. How can anybody EVER do business with companies who do this and get caught? I know I won’t.
It’s outrageous. I doubt we will ever find out the truth. Most of these greedmongers protect one another.
Anon – you’re jumping to a conclusion that I don’t think is supported. Brady had an alter ego, Henry Alvarez, a name he used to conduct sales and parking.
“the bigger issue surely is the seemingly breath-taking pervasive incompetence of the Snapnames management that allowed this to go undetected for years”
The trouble is that, as VP of Engineering, Nelson would have been the go-to guy for any internal investigation.
“Brady had an alter ego, Henry Alvarez”
Is it established that there is not a “Henry Alvarez” who is a separate person from Nelson Brady?
“I will give you your interview.”
I was drunk. Mistakes were made. B–ch set me up. The woman whom thou gavest to be with me, she gave me fruit of the tree, and I ate. The serpent beguiled me, and I ate. I did not have sexual relations with that woman – Ms. Lewinsky. Nobody thought they would fly airplanes into buildings. I don’t recall. If the glove does not fit, you must acquit.
Let’s hope for a topper.
There has been an undercurrent of “wild west” for a long time, too long. Registrars and registries went almost completely unpoliced and unaccountable for years and years. When there is no real designated regulatory body to which companies must answer, they will push the limit almost every time.
Actually, much of the inappropriate (and/or illegal) gyrations of the inner industry have cleaned up in recent years due to the increased attention the domain industry has received. Obviously, a good direction.
My point is that NO ONE was watching, or intervening (for many years) and this perpetuated a climate which allowed the likes of the Snapnames fiasco.
Silver lining is that the industry has matured considerably, and many companies (not all) have reeled in the wild west practices. Hopefully, time will purge the domain industry of those that have given it a bad name.
John – from what I’ve seen, Alvarez is basically a penname.
1. “wouldn’t implicate others”
I’m reading that to mean that there are others but that he won’t throw them under the bus?
2. Still all quiet from current General Manager of Snapnames and former iReit CEO Craig Snyder who’s company bought domains from Nelson Brady while he was there.
What did he know and when? If nothing, why not?
Does no one else think this is important?
@ Rob – please don’t read that into #1. I didn’t have a pen and paper to write when I talked to him, so I couldn’t direct quote. But essentially, when I asked if others were involved, he said no.
Thank you for clearing that up.
I need don’t need to read anything into this situation and don’t want to.
I hope Snapnames realizes that they need to release SOME statement beyond just that crappy settlement offer they made.
Don’t they have PR people there?
There is some anonymous “Rob from Oversee” leaving comments here and there and that’s it for PR and damage control?
Anyone who posts attack comments without revealing their true identity is a chickensh*t. Waste of time, and at least Dub-A displays their fear by posting their “scaredy cat handle” at the top of their comments instead of at the bottom, thereby saving us time to avoid reading anything they say.
Got my rebate offer from Snapnames… $750. I didn’t even realize that I was one of the victims here until today.
I don’t have a good feeling about the found money… I feel pissed off. I also think it’s a little sketchy that Snapnames is requiring a release of liability to claim the money that they owe. But whatever… at least they are shipping something back the way of the people who overpaid for their domains.
What makes me a little pissed off is it sounds like the guy who did it is coming out of this pretty good…
Hi Dutch, I’d like to hear your story for a report I’m doing. Look me up at http://www.successclick.com.
(Thx Dub-A for allowing the pitch)