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Stan Lee Media Co-Founder Extradited to the United States

September 16, 2003|From Reuters

Federal authorities in New York said Monday they had completed the extradition from Brazil of Peter Paul, co-founder of defunct online entertainment company Stan Lee Media, to face conspiracy and securities fraud charges.

Paul left the U.S. in late 2000 or early 2001 and was arrested in Brazil in August 2001 and was held in a Brazilian prison. In July the Brazilian Supreme Court ordered his return to the U.S. to face charges.

Paul and comic book icon Stan Lee, who prosecutors said is not suspected of any wrongdoing, created Stan Lee Media to capitalize on the dot-com boom and a surge in the popularity of online animation sites.

Prosecutors claim that Paul and others engaged in a plot to pump up the stock price of the Nasdaq-listed company and profit from subsequent stock sales.

Paul appeared Monday before a magistrate judge, who ordered that he be detained.

He is represented by Judicial Watch, an organization known for pursuing claims of government corruption.

Paul reportedly has said he had detailed information about questionable donations allegedly made to the 2000 campaign of Sen. Hillary Rodham Clinton (D-N.Y.).

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