February 09, 2006
God Grew Tired of Us

In the normal course of events, having a film that you've invested in take home the Grand Jury Prize at Sundance should be cause for celebration. But it is now unclear where the funds CameraPlanet invested went.

"To be very clear, we remain confident that Christoper Quinn and Molly Bradford were likely victims, as was their film" said Steven Rosenbaum, CameraPlanet's CEO. "We support the filmmaker and his attempt to clear the title to his film, and think that the misrepresentations of Foreground Films and its principals have caused the film a terrible injustice at a time when the film should be enjoying both critical and commercial success."

At issue is whether Foreground Films - an entity established by Tommy Walker, had any authorization to solicit or receive funds on behalf of Lost Boys of Sudan, Inc (LBI), the partnership that produced the film. CameraPlanet's investment was made in Foreground Films, at the explicit direction of Mr. Walker and CameraPlanet then COO Stephen Carlis.

Said CameraPlanet CEO StevenRosenbaum:

"This is a pretty straight foreword matter. If the filmmakers determine that the funds we provided to Foreground Films were used for legitimate purposes on the movie, then we'll expect that they'll honor the terms of our investment. If the funds were diverted, misused, or can't be accounted for, by Foreground Films then this is clearly fraud."

This matter came to light after CameraPlanet dismissed then CameraPlanet COO Stephen Carlis and discovered significant financial and corporate irregularities. Documents discovered after his dismissal create a paper trail that leads directly Foreground Films.


Posted by steve.rosenbaum at 10:34AM on Feb 9, 2006
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