MT-SEN: Tim Sheehy (R) hit with lawsuit for allegedly defrauding former employees of millions
Republican Senate candidate Tim Sheehy and his brother defrauded two former employees out of a share of their company that is worth millions, according to a lawsuit filed in Gallatin County District Court.
The former employees’ complaint sharply contradicts the story that Sheehy has told about himself and his business career on the campaign trail.
“You know, we were literally just broke starting our company, and I couldn’t pay our employees for the first two years, so we gave them shares in the company – equity in the company,” Sheehy said at a campaign event in Glasgow. “I said, hey, it’ll be worth something someday. Luckily, we went public and sold a division very successfully. So all those 22-year-old MSU (Montana State University) interns are now 28-year-old millionaires, so it worked out for them.”
Not all of them, however, according to the lawsuit. At least two of those employees —- and perhaps as many as seven — agree with the part about not being paid, but sharply disagree that the deal worked out for them. Former Sheehy employees John Wantulok and Weston Irr filed the lawsuit in early April before Judge John C. Brown.
The 17-page complaint alleges that the Sheehy brothers executed a shell game involving the equity of three companies the brothers controlled: a holding company, Bridger Management, and two subsidiaries, Ascent Vision Technologies and Bridger Aerospace. The last of those remains Tim Sheehy’s base of operations, and recent filings with the Securities and Exchange Commission have shown Bridger Aerospace is in financial peril because of an excessive debt load. The facts underlying the new lawsuit, however, predate those troubles.
https://montanaindependentnews.com/politics/tim-sheehy-hit-with-lawsuit-for-allegedly-defrauding-former-employees-of-millions/
= new reply since forum marked as read
