Charge Spider-Man pal in Web of deceit (Peter Paul alert)

The allegedly villainous co-founder of a bankrupt Internet venture with Spider-Man creator Stan Lee was arraigned yesterday in a super-duper stock scam that authorities said bilked investors of $25 million.

Peter Paul was indicted in 2001 but has been in jail in Brazil for two years fighting extradition.

"I spent two years in a Brazilian dungeon," Paul told Brooklyn federal Magistrate Joan Azrack, who scheduled a bail hearing next week. Paul had been jailed in a Brazilian cellblock dubbed the corridor of death, where inmates have been known to set other prisoners on fire. . .

Paul, a twice-convicted felon, alleges Hillary Clinton did not report his contribution to the Federal Election Commission, violating the law.

A spokesman for Clinton (D-N.Y.) did not immediately return a call for comment.

Meanwhile, the judge ordered Paul released from solitary confinement so he could use the prison law library.

FReepTranslation: the judge ordered Paul released from solitary confinement so he could be found dead in the prison law library

>The allegedly villainous co-founder of a bankrupt Internet venture with Spider-Man creator Stan Lee ...

Political Fundraiser Sank Stan Lee Media
According to LA Times
July 23, 2003

An in-depth article in Sunday's Los Angeles Times examined the relationship between the gala political fundraiser held at Stan Lee's home for Hillary Clinton's 2000 Senate campaign and the collapse of Stan Lee Media shortly thereafter. According to the article, the fundraiser, which cost approximately $2 million to stage but raised only $1 million for the campaign, figured prominently in both the collapse and the subsequent legal problems of Stan Lee Media executives. That's because the money for the fundraiser came largely from Merrill Lynch margin accounts secured by Stan Lee Media co-founder Peter Paul's stock in the company. The borrowing was in excess of the limit placed on borrowing against the stock, and when Merrill froze activity in the accounts in November of 2000, checks started bouncing, rumors that Stan Lee Media was out of cash began to spread, the stock price began to spiral downward, and a $40 million financing deal for the company collapsed, leading to the company's demise (see "Stan Lee Media Tanks").

Among those facing legal problems related to the events are former Stan Lee Media executive Stephen Gordon, who was convicted in what was termed a "check-kiting" scheme and faces sentencing August 4th (he plans to appeal); two others convicted with Gordon; Peter Paul, who awaits extradition in a Brazilian jail; and fundraiser Aaron Tonken, charged with mail fraud for charitable promotions unrelated to the event but now being investigated for his political fundraising, according to the article.

Stan Lee, of course, was not involved in the financial shenanigans [?!?] and continues his publicity work on behalf of Marvel and media and entertainment ventures through his Pow! Entertainment. Most recently, Pow! is partnering with Playboy to develop Hef's Superbunnies, a cartoon TV series that will feature Hugh Hefner leading teams of Superbunnies to fight injustice.

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.