ART of WAR Scandal

April 9, 2008
Former Executive Sues SUN Over Departure

Serious allegations about SUN Sports are contained in a press release that was submitted to MMAPayout.com. The allegations come on the heels of the company's announcement of a partnership with FSN:


DALLAS, TX — The former president of SUN Sports & Entertainment, Inc., who departed on March 7, 2008 after a year at the Mixed Martial Arts promoter of Art of War, has filed a $25 million lawsuit against SUN Sports & Entertainment, Inc., SUN Management Group, Inc., and Titan Securities of Dallas., claiming he was forced out of his job for questioning financial irregularities within the company, deceptive press announcements and what he believed was a huge conflict of interest by Titan executives.

John Buckeye Epstein filed the suit Friday against SUN Sports (pink sheets SSPE), not to be confused with SUN Sports owned by Fox Sports, claiming that CEO CJ Comu and Titan, acting as board members, illegally forced-out Epstein after he became very vocal regarding the financial management of SUN Sports.

"I can't believe the audacity of Mr. Comu; the company had no funds, credit cards are shut off, vendors are calling every day, employees are owed more than forty thousand dollars in back expenses, and the medical bill reimbursements of past fighters like Justin Eilers and Pedro Rizzo were not being paid. All this while Comu takes a limo to the airport ten miles away," Epstein said.

The suit alleges that Titan Securities was improperly involved in a huge conflict of interest, controlling the Board of Directors and the expenditure of funds, all without disclosures to the public, and that Titan conspired with Mr. Comu to cause the breach of Epstein's employment contract with SUN. It also alleges that Mr. Comu, SUN's CEO, never intended to fulfill his financial promises and commitments to Mr. Epstein.

Epstein added, "This is not a disgruntled employee case like most people assume when they hear an unhappy executive leave a company". Under Epstein's sports marketing direction, within a year Art of War was recognized as possibly the number two contender in producing Mixed Martial Arts events. "This is about an employee trying to fight for honest and ethical treatment of shareholders, vendors, fighters and employees who was thrown out of the company for his trouble. The problems at SUN are far-reaching. Just last week Mr. Comu signed for a nine-show tour (a start date of April 19th) with George Greenberg (Fox Sports Net's Executive Vice President, Programming & Production) with virtually nothing in the bank."

Moreover, Epstein goes on to explain the relationship with Titan Securities (FINRA or NASD Broker Dealer). "Brad Brooks' group at Titan was involved in drafting and approving SUN press releases to the public, at the same time having been a huge market maker in SSPE stock, all without disclosure to the public. It is just unbelievable".

A former business partner of Mr. Comu in SUN before Epstein, said, "There are people who invested thousands of dollars in a sports franchise that CJ sold and for over two years has never called them or repaid the amount of funds."

Epstein had been SUN president for a little over a year when the company announced his departure in March 2007, saying he was leaving to "pursue other interests."

WOW! I just went to the stock website referenced in the above article and Art of War (SSPE) stock is valued at about 2/3 of a penny .... down from $2.50 a share. OUCH!!!

ghetto

2/3 of a penny. Wow. It's higher than IFL stock, at least.

No IFL is a nickle a share so it's value is significantly greater...lol.

 isnt there an AoW show coming up soon?


At a casino in MississippiI think.

Interesting read

I thought so to. Especially the "all without disclosure to the public" part! SHADY promotion - Bad for the sport IMO.

Its tonight at Tunica Mississippi. Andrew Chappelle is fighting at the event.

Art of War tried its hardest to get Guy Mezger in trouble after they fell out with him. I lost a lot of respect for the organization when they started lodging complaints against Mezger.

donttazemebro - Could you be a little more specific? What could they have possibly had against Guy Mezger? He was the only one with that promotion of any acclaim plus it seems as though things went down hill really quickly after he left.