eCast Founder Accused of $18 Million Fraud
Last week, peHUB reported that eCast Network founder Samuel "Mouli" Cohen had been sued for allegedly defrauding a charitable organization out of approximately $18 million. We incorrectly identified the suit's plaintiff as the charity itself, Vanguard Public Foundation, rather than the correct plaintiffs: Samuel Mills and Mary Dalsin Mills, self-described Vanguard benefactors, in their individual capacities and as trustees of the Mills Family Trust. According to the suit, the Millses indirectly purchased shares in eCast, via investor groups set up by Vanguard president Hari Dillon and Vanguard co-chairman Danny Glover. Mills also allegedly paid Cohen directly for various fees and expenses related to a purported acquisition of eCast by Microsoft. We note that Vanguard Public Foundation did not invest in eCast, nor did it file suit against Cohen or make any public allegations of fraud against Cohen. It also is worth noting that we happily make these corrections at the behest of Cohen himself, who has threatened litigation against us (read letter here). In that spirit, after the jump is an updated post -- with the names changed where appropriate. peHUB stands by its assertion, based on multiple sources, that Microsoft had not agreed to acquire eCast Network. Finally, we did send an email to an old email account affiliated with Mouli Cohen (ea@moulicohen.com), and received a reply. We replied with a request to speak with Cohen, but never heard back.
