Oversee.net settles with former employee and class action.
SnapNames has resolved two outstanding lawsuits related to its bidding scandal.
First, the company has resolved its claims with former employee Nelson Brady. Brady was the sole employee who drove up bids on SnapNames. The settlement will not be made public, but SnapNames parent company Oversee.net said the “financial penalty is appropriate considering the seriousness of the improper activity.”
I had checked the case docket this morning and there were no new filings; they will likely be added within the next few days.
Second, the company reached a preliminary settlement in Resmer vs. SnapNames.com. This was originally a U.S. District Court case. Facing problems proving the size of the claims, Stewart Resmer later moved the case.
Details on the class action settlement are available here. Both Stewart Resmer and the class action lawyers will receive compensation paid by SnapNames.
Acro says
I would hope Oversee added a clause to ensure any revenue made from Brady’s future books documenting the event will be turned over to a fund to benefit abused domainers.
Oversee affiliate scam search dnforum for halvarez says
Nelson did claim before court that he was in this fraud ALONE. He took the heat.
In exchange they’ve dropped charges, heat is on Brady himself so they can continue in shill bidding business model.
Monte & Jeff are serious sca**ers.
Just search DNForum for halvarez, latest thread will show you how they sc*m 7000-8000 Snapnames & Moniker affiliates.
Landon White says
*** BRADY NELSON A/K/A FALL GUY ***
HANK ALVAREZ A/K/A Nelson Brady
ex VP employee at SnapNames.Com
MR SHILL … “HALVAREZ”
Allegedly Brady Nelson, a nine-year VP SnapNames.Com employee, was secretly bidding up the price of domain names under a fake name: “Hank Alvarez.”
The “shill bidding” affected 36,000 auctions, according to the suit, and prompted SnapNames to refund overpayments, plus interest, to thousands of customers.
Oversee.net, SnapNames’ NOW parent company, charges that Nelson Brady, 54, also caused it to OVERPAY when it BOUGHT the Portland business three years ago. The fraud allegedly took place over four years, from 2005 until the company discovered it last October 2009.
SnapNames.Com sued one of its former executives for $33 million today, alleging that he RIGGED the company’s online AUCTIONS and caused customers to OVERPAY for a Domain purchase.
SnapNames caught on to Brady’s shill bidding, Cole said, because he would sometimes “accidentally” win an auction bidding under the fake name Alvarez.
He would then refund himself a portion of the purchase price from
SnapNames’ accounts.
Nelson Brady allegedly created a PayPal account and set up a mailbox for Alvarez, bidding under the online alias “HALVAREZ”allegedly Brady e-mailed colleagues details to promote Alvarez, according to the suit, writing that he “is from the south, (with an) accent you would not believe, a great guy.”
Landon White says
FOOTNOTE:
Nelson Brady was a “Vice President” (not just a employee)
he is alleged TO HAVE committed ….. International / Interstate Wire Fraud….
and he has not been charged with a federal crime, YET!
what is wrong with that picture ???
AND, he blurted out in a interview (of note) (QU)that there was more to the story(Un)
before counsel shut him up…MORE what …. PEOPLE ? lol
Hal Brady says
No charges will be laid. In the event that they are Nelson will take em all down with him. Oversee is the king of “settling”. They have to settle each and every case they are involved in because if the curtain is ever lifted and the truth revealed these guys will be recognized as the low down dirty rotten cheating scoundrels that they are.