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| Utah couple involved with nuclear space tug face charges http://www.fta-n-more.net/forum/viewtopic.php?f=29&t=815 |
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| Author: | Prodigy [ Tue Aug 17, 2010 1:26 pm ] |
| Post subject: | Utah couple involved with nuclear space tug face charges |
Utah couple involved with nuclear space tug face charges Criminal charges against a couple who proposed putting a nuclear-powered satellite tug in space have left the future of the company in doubt. Robert and Sylvia D’Ausilio of Bountiful each face one count of communications fraud, a second-degree felony, in 2nd District Court in Farmington. Robert D’Ausilio has resigned as CEO and chairman of the company that had been pursuing federal monies for a plan to put nuclear-powered vehicles in space that could move satellites into proper orbit or supply power for Internet and telephone service via satellites. It’s unclear who, if anyone, is in charge of the company that also is facing an involuntary bankruptcy petition. “I don’t think any business in this situation, needing to raise money, could make a go of it now,” said James Stewart, former president and a board member who was unsuccessfully sued by Iostar for allegedly using trade secrets to try to start a competing company. Syliva D’Ausilio, Iostar’s corporate secretary, declined to comment Monday when reached by telephone at her home. Iostar’s California attorney did not return an e-mail seeking comment. The criminal charges, filed Aug. 5 in Farmington, allege the couple converted $500,000 from a company called Xigix for their personal use rather than holding it in escrow as agreed upon. The charges are the latest of a string of legal actions involving Iostar and the D’Ausilios’ actions. |
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