Man Pleads Guilty to Defrauding Startup Network Investors
A Minneapolis man has pleaded guilty to one count of mail fraud after defrauding investors in his startup TV network of more than $2.1 million, the U.S. Attorney's Office for the District of Minnesota said in a news release Wednesday.…
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Colin Chisholm, 67, used his The Caribbean TV Network to solicit funds from investors as interim financing while it was supposedly on the verge of securing up to $100 million to begin broadcasting. DOJ said Chisholm also lied about his personal and professional background, including claiming he had been a Turner Program Services vice president and participated in the launch of CNN.