Snapnames auction scandal turns into $33 million lawsuit

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Snapnames auction scandal turns into $33 million lawsuit

Wednesday, May 5. 2010

I suppose it was inevitable that the recent scandal over the rigged domain name auctions at Snapnames would spill over into a major lawsuit.

According to an article published yesterday on OregonLive.com (Snapnames is based in Portland, Oregon), the company's new owners Oversee are suing Snapnames ex executive Nelson Brady for $33 million.

Brady is alleged to have spent years artificially inflating auction prices by bidding under an alias. This fraud is said to have impacted a whopping 36,000 auctions. When the scam became public, Snapnames (bought by Oversee in 2007) was forced to provide refunds to thousands of impacted customers.

Posted by Stephane Van Gelder in Scams at 10:24 | Comments (0) | Trackbacks (0)

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