The August 19 2012, Maryland Daily Record reports that “Fuvista” CEO Mark T. Pappas was conditionally released after two weeks in jail. He reportedly wired $120,000 to pay a portion of the civil sanctions in the Victor Stanley v. Creative Pipe case. The Daily Record reports that The Hon. Marvin J. Garbis “adjourned the hearing without ruling on the remainder of the contempt charges, which stem from Pappas’ failure to make payments on more than $1 million in sanctions he incurred for e-discovery violations during a lawsuit his company ultimately lost.” The paper reports that:
Under the terms offered by his legal team, Pappas made an immediate payment of $120,000. The plan called for another $50,000 to be wired on Monday and an additional $20,000 by the end of August, for a total of $200,000.
After that, Pappas and/or Creative Pipe would pay $20,000 a month toward the sanctions. Pappas must also close out money he has in offshore banks and bring it back to the U.S.
For a post describing prior events, please click here.