CEO of NS8 Charged with Securities Fraud

The founder and CEO of the Internet security company NS8 has been arrested and “charged in a Complaint in Manhattan federal court with securities fraud, fraud in the offer and sale of securities, and wire fraud.”

I admit that I’ve never even heard of the company before.

Posted on September 25, 2020 at 6:21 AM12 Comments


Kurt Seifried September 25, 2020 6:59 AM

Who knew that a gold rush situation could lead to someone doing something nefarious and committing fraud. What’s really wild is that without many differences this could have been completely legal (“oops we spent all the seed funding on hiring the best talent and wee failed. sorry”).

Phaete September 25, 2020 11:03 AM

My apologies for off topic post.

In this post, the sidebar part of “related entries” displays a HTML formatting error.

For me it shows the italic formatting tag with the Dave and Goliath book link.

Data and Goliath Book Placement

With the new javascript requirement for posting/preview i wish everyone the best.

Al Van Court September 25, 2020 2:25 PM

The more entertaining piece to this is how often you can see something similar. Consider the recent case of WireCard in Germany. It is amazing to me how many examiners, auditors and others are willing to take documentation that can be modified. The rules of evidence and validation have been removed due to speed in most fields these days. Silly note, but maybe folks should be required to watch the old FBI films where they interviewed fraudsters or shows such as the British show ‘Hustle’

Clive Robinson September 25, 2020 4:22 PM

@ ALL,

With regards,

“charged in a Complaint in Manhattan federal court with securities fraud, fraud in the offer and sale of securities, and wire fraud.””

These are “kitchen sink charges” thus they are effectively guilty no matter what they have done or not done, and untill the evidence is produced by both sides, we are required by law to assume the defendent is innocent (something the US Federal and State Government agencies “skate over” thus frrquently prejudice a trial in the media before it even gets to court)

The liberal usage of “alledged” is a clear indication of such behaviour, as is the departmental “grandstanding”.

If the company or individual had the resources then in all probability they would argue it out take and take a no liability deal with a fine (as so many bad actors have done).

In easence these sorts of charges are used as a “shake down” manover just to show a Government Dept is doing it’s job (which it usually is not for a long list of reasons I won’t even start to go throug).

@ Bruce,

I suspect the reason you’ve not heard of the company is that they have not grown to the size where they “are a player in the market” the products they are advertising are not exactly a new or ground shaking idea.

Thus I doubt those involved can can defend themselves against this sort of Governmental “show trial” type attack.

The point to remember is this should be about justice not about a “Show trial” run by two Government depts with effectively unlimited funds going after an organisation that has not got the resources to fight back (unlike Apple -v- DoJ & FBI).

In such a situation justice what ever the organisation and those who managed it did or did not do –which is yet to be evidenced– is not possible. Worse it will become case law to be used next time in an even broader scope and so on.

In effect this is part of an orchestrated plan to “rights strip” organisations and a very clear indicator that there is “Something rotten in the State…”.

In an adverserial system justice has to be blind before the tribunal thus not pre prejudiced by the prosecution or Main Stream Media. Then and only then with the presentation of both burdens can those of the tribunal make a determination of truth within the parameters specified by not just the legislation but the remit of the court…

SpaceLifeForm September 25, 2020 5:02 PM

@ Phaete

I’m seeing that same issue with the link for

Cory Doctorow on The Age of Surveillance Capitalism

At this moment, I am not even seeing the link you mention.

I know it exists.

SpaceLifeForm September 25, 2020 5:14 PM

@ Phaete

Now, the one I saw has disappeared.

It appears that any entry that randomly shows up in the
‘Related Entries’ list that also contains the italics tags
is not being properly rendered.

This is on FireFox.

Phaete September 26, 2020 12:51 AM


Same here, it won’t give me any of those 2 links anymore in the sidebar.
I’ve seen no other italic tags in the sidebar, nor any correct italic text.

It didn’t look like a browser issue, just wrong formatting in HTML of italic tag in combination with a href tag.

Phaete September 26, 2020 12:54 AM

And just as i submit, the sidebar changes and shows me (hoping pre tags go correct this time to show the italic tags…)

Cory Doctorow on The Age of Surveillance Capitalism

Phaete September 26, 2020 12:58 AM

Yes, just remove the pre tags from the allowed HTML information below the comment box, they just get stripped.

Ike September 30, 2020 1:17 AM

First they will bankrupt him with legal fees, then they will enforce all kind of work and business restrictions so he can not pay his lawyers then he will be forced to plead guilty otherwise go to trial where conviction rate is 99.99%.

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