CEO of IT Asset Partners Sentenced to Prison
Clifford Lundgren, CEO of IT Asset Partners has been sentenced to prison for trafficking counterfeit software and goods. He has been sentenced 15 months in a federal prison and a $50,000 fine for his role in an effort to copy, import and sell counterfeit Microsoft software.
Clifford was not acting alone in this scheme, Robert J. Wolff of Boca Raton, Florida, was sentenced to six months house arrest and four years probation for his involved role.
Wolff supplied Cliff a disc containing Microsoft Windows to be reproduced by a Chinese Manufacturer, even with fake labels. These discs would have incurred Microsoft $700,000 in loses or about $25 per disc.
Although Lundgren’s financial gains would have been small he did receive $13,000 in profits before he was caught in the scheme. He agreed to forfeit 22,000 Microsoft software discs that would have been used in refurbished Dell computers.
To learn more Click Here
PC Rebuilders & Recyclers Files for Bankruptcy
The company PC Rebuilders & Recyclers in Illinois has filed for bankruptcy with the company having less than $50,000 in assets and it’s liabilities totaling between $1 million and $10 million dollars. The Chicago-based outlet was founded 17 years ago by Willie Cade when he specialized in electronic device repair.
Even though PC Rebuilders & Recyclers has filed bankruptcy, Willie Cade and his daughter, Sarah Cade, have started a new consulting company that is taking over management of the Electronics Reuse Conference.
Sarah Cade said of the company that “PCRR and Willie Cade have contributed so much to this industry over the past 17 years. They have employed over 300 ex-offenders, refurbished over 150,000 devices and were part of countless efforts to advance the industry. ERS honors what they contributed to our community and hopes to be able to support others in continuing to strengthen our goal of rescuing reusable technology.”
Lawsuit from OmniSource Electronics Recycling filed a lawsuit against PCRR after they claim to have sold and shipped thousands of used electronics for recycling and refurbishment but wasn’t paid the $190,000 it was owed.
As of June 9th the businesses doors and website have been closed.
To read more about this Bankruptcy Click Here.
