Cyber Litigation Inc. - Fraudulent Transfer Defense Lawyer
As alleged in the complaints,
1. NS8 was a cybersecurity startup founded in 2016 that reported enormous financial
success with tens of millions of dollars in annual revenue. However, nearly all of NS8’s customers
were fake. Both the phony revenues and thousands of alleged customers were part of a fraud
scheme concocted by Adam Rogas. For nearly the entirety of NS8’s existence, which ended
abruptly in bankruptcy after discovery of Rogas’ fraud, Rogas served as both CEO and CFO.
2. Rogas used altered bank statements, fake financial statements and fictitious
customer counts to convince outside investors to invest more than $150,000,000 in NS8. Rogas
then caused approximately $72,000,000 of these funds to be transferred directly to NS8’s early
investors and employees through a fraudulent tender offer in June 2020.
3. The investors were left with nothing, while Rogas and other senior executives and
employees who participated in, or turned a blind eye to Rogas’s fraud, received millions of dollars
through the tender offer, in addition to significant compensation in the form of wages, bonuses,
commissions and employee benefits for services that provided little to no value but rather
perpetuated a fraudulent enterprise.
On October 27, 2020, the Debtor filed a voluntary petition for relief under chapter 11 of the Bankruptcy Code.
The bankruptcy case and these adversary actions are before the Honorable Judge Craig T. Goldblatt.