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10 Tech CEOs Who Were "Wanted"

By SiliconIndia  |   Tuesday, 11 December 2012, 05:33 Hrs
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#9 Shaileshkumar "Sam" Jain

Company: Innovative Marketing

Date captured: On the run

Shaileshkumar Jain better known as Sam Jain is an internet entrepreneur and former CEO of affiliate marketing network eFront. Jain operated several Internet-based companies including Discount Bob, Shifting Currents Financials, Inc., Innovative Marketing and others.

On April 20, 2005 he was ordered to pay $3.1 million to Symantec for selling counterfeit software and violating intellectual property laws.

Innovative Marketing made over $100 million by selling “scareware” antivirus software, when Sam Jain was CEO of the company. Those products included WinFixer, Antivirus 2008, and VirusRemover 2008. Jain was charged for “conspiracy to commit computer fraud,” leading to a federal warrant being issued for his arrest. But Jain was already considered a fugitive, when warren was issued, for failing to show up for a court appearance in California and not paying a $250,000 bond. The Feds were able to seize $15 million from Jain’s Swiss bank account; however, he remains a U.S. fugitive, leaving no trails behind.

Also read: 10 Ways How Microsoft Is Actually Falling Apart

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