A quick update regarding James Reno
In what I can only describe as a display of optimism, Reno has hired an attorney and entered a plea of "not guilty" to all counts of the indictment filed by the Special March 2010 Grand Jury which charged him, Bjorn Daniel Sundin and Shaileshkumar P Jain (aka Sam Jain) with one count of computer fraud and conspiracy to commit computer fraud. Bond has been set in the amount of $10,000.
Details of the indictment are here:
The conditions of Reno's release, and his financial affidavit, have been sealed.
Oh, and while we’re on the topic of Reno’s woes, I’ll take the chance to let everybody know that a Consent Motion to stay proceedings for 60 days to allow the FTC to pursue settlement with Mark D'Souza and Maurice D'Souza was filed in the FTC versus Innovative Marketing action on 27 May 2010 and granted the same day.
Sam Jain's girlfriend, Kristy Ross, is not a party to the motion, but also does not object.
A settlement with Mark and Maurice D'Souza has been reached, in principle, but because the settlement requires the D'Souza's to get their hands on funds that "are not immediately available" (how much, I don't know) the D'Souza's and the FTC agreed to the 60 days stay.
Hopefully we'll know more by the end of this month...