Bankruptcy for Spam King
Microsoft lawsuit cited as reason for bankruptcy
High-profile email marketer Scott Richter, aka the 'Spam King', has filed for bankruptcy, citing a Microsoft lawsuit as the reason.
Richter was sued last year by the State of New York - but escaped the $20 million judgement NY State had initially sought when the case ended in a $40,000 settlement.
However, it was a pending lawsuit filed by Microsoft against Richter that seems to have been the final straw for
the Spam King. The (not yet settled) suit alleges that Richter is responsible for sending billions of spam messages and could see Richter
forced to pay in the region of $40m damages.
Richter went to a US Bankruptcy Court in Denver last week, where he filed for Chapter 11 bankruptcy protection for his email marketing company, OptInRealBig.com. He claimed company assets of
less than $10 million and debts of more than $50 million.
30 March 2005
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