If this does go to court and MJ is forced to reveal all and it shows he knew he had not enough money to cover expenses movi g forward after Jamaica, isn't that some form of fraud?
I think he can get around any accusation of fraud by claiming that although he didn’t have cash on hand he was actively seeking new investors and he genuinely believed money was going to come in to enable him to pay all the debts he was incurring.
He may actually have believed this. At the same time, the story that a prospective investor signed a term sheet, saw the Jamaica meet, and declined to put any money into GST should have made him realize the venture was likely to fail. Once the series was underway he had two huge problems that would be very difficult to overcome—attendance was appalling in Jamaica and not good in the states (I guess Philly was okay) and the product was patently inferior.
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