RadiumOne Worked to Save IPO Amid Scandal – WSJ

It’s one thing to see the details emerge about this but it’s another to be surprised that their plan A was to try and make this go away:

Venture capitalist and one-time California state controller Steve Westly, who joined RadiumOne’s board in November 2013, suggested in a Dec. 3, 2013, email to Mr. Chahal that lawyer Willie Brown, former San Francisco mayor and State Assembly speaker, “believes that he can help you.” Mr. Westly, who is considering a second run for governor, wrote that Mr. Brown knows the district attorney and “may be able to ‘back him off,’” adding that Mr. Brown is a “very good deal broker.”

Six days later, in an email with the subject line “Willie Brown,” Mr. Chahal wrote to Mr. Westly: “Just met him. Wants $1 million if he can make this go away. Just gave him a $250K retainer. If you meet him tomorrow. Apply some pressure on him to make this go away in 2013.”

Mr. Westly responded: “Wow. That’s pricey, but probably worth it if he can make it happen. I suspect he will pull out all the stops to get this done.”

Source: RadiumOne Worked to Save IPO Amid Scandal – WSJ

Advertisements