JACKSONVILLE, Fla. — UPDATE: Latitude 360 CEO says he's the victim, calls accusations 'slanderous'
The popular news and entertainment website BuzzFeed
on failed Jacksonville hotspot Latitude 360 in which former CEO Brent Brown defended himself in the wake of multiple lawsuits and allegations that he stole money from investors and employees.
The venue was first called "Latitude 30" before the name was changed to Latitude 360, and Brown told BuzzFeed the sprawling facility took in over $100,000 the first weekend it was open.
The BuzzFeed article references Action News Jacksonville's multiple investigations into Latitude 360, starting in Oct. 2015 when the first signs of financial trouble appeared.
One investor called Brown a "mini Bernie Madoff" in the article.
In the piece, which totals nearly 8,000 words, writer Matt Stroud goes into detail about the failings of the company, which shuttered its Jacksonville location in Jan. 2016 near The Avenues Mall.
#Latitude360 investor on CEO Brent Brown: "He doesn’t care who it hurts.” New @BuzzFeed story points to my reporting https://t.co/D27zOoPfvI pic.twitter.com/80B7VvNlFD
— Jenna Bourne (@jennabourneWTSP) September 22, 2016
Action News Jax has reported extensively on the rise and fall of the business, including a July investigation into where the money went.
BuzzFeed reported that shareholders trusted by Brown lost over $100 million.
Stroud, writing for BuzzFeed, said that he met with Brown multiple times around Jacksonville this summer. Stroud also spoke extensively with Aaron Riley, the former Jacksonville University football player who said he lost a $90,000 Aston Martin luxury car when he traded it for Latitude 360 stock that is now worthless.
Action News Jax first reported in February on Riley's lawsuit against Brown, his former neighbor in San Marco.
The lawsuit alleges Brown failed to disclose millions of dollars in liabilities for the company to make it seem like the stock was a safe investment. Riley's father termed the deal as a "car theft."
The younger Riley told BuzzFeed: “All the presentations were well-done, they were raising money, he’s living in this big $3 million house, he’s got three Range Rovers, his three kids are going to [The Bolles School]."
"I don't owe anybody S---." #Latitude360 Brent Brown in new article featuring @JennaANJax reporting. @ActionNewsJa… https://t.co/KAMdN7Rz8o
— Paige Kelton (@PaigeANjax) September 22, 2016
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