L.A. Animation Studio Owner Who Swindled Artists Is Indicted By Feds Over Fraud Charges

The indictment claims that “Anderson created fraudulent revenue statements and revenue and loss statements and misrepresented the businesses’ profitability to buyers and potential buyers; that Anderson created and altered contracts to signify falsely that a number of of his firms can be acquired by bigger firms; and that Anderson created and altered contracts to make fraudulent claims that his firms created partnerships with different current firms.”

The indictment additionally describes how Anderson emailed an investor to falsely declare Imbee was price $21.6 million and that the investor owned 70% of the corporate.

Alan Anderson
Alan Anderson

In 2016, a Cartoon Brew investigation found that Cosmic Toast, a Sherman Oaks, California-based studio that had labored on Disney and Nickelodeon productions, had shut whereas nonetheless owing tens of 1000’s of {dollars} to workers. Anderson repeatedly promised them pay that didn’t materialize. After the studio closed, he ignored their requests for the cash.

Imbee purchased Cosmic Studios in February 2015. Points with pay have been mentioned to have begun shortly afterwards.

Already by then, Anderson had recognized his share of controversy. In 2000, he was fired for trigger as chairman and CEO of the now-shuttered software program firm Quintus. In 2002, the Securities and Change Fee filed a grievance in federal courtroom alleging that he filed false monetary statements, fabricated gross sales transactions, solid paperwork, and falsely inflated income reviews when he ran Quintus.

Anderson now faces 4 counts of wire fraud and one rely of securities fraud. If he’s convicted, every rely of wire fraud carries a most sentence of 20 years in jail and a most $250,000 high-quality. The securities fraud cost carries a most 20 years of imprisonment and a $5,000,000 high-quality. As well as, the courtroom additionally could order a time period of supervised launch, fines or different assessments, and restitution, if acceptable.

The federal indictment will be downloaded as a PDF.

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