In September 2008 a series of anonymous internet posts appeared, defaming The Venulum Group.
As soon as Venulum was made aware of the posts it engaged a firm of US Lawyers. The objective was to identify the bloggers to enable libel action. The host website of the blog forum provided all but 7 of the posts.
Venulum ( venulum.com ) is considering enforcement in New York after successfully serving the founder of the website for non-compliance of a Subpoena regarding the remaining 7 posts. There is a view that these posts have been made by the webhost, if the posts have been made by the webhost, the webhost will lose its safe harbor protection, if it was found that it edits and publishes on a forum. The webhost claims to have various offices in the US, however none of the offices appear to be active or operational. A tracing agent has found various individuals in the Czech Republic. The webhost founder does retain an office in New York, which is where the webhost is invoiced.
Of the 40 posts, only one has been identified as a Venulum client, the client only made the post after he read the other posts and has subsequently retracted the post and apologized for any damage he may have caused.
The large majority of the unregistered posts have been identified as two former employees. The first is a salesman who worked in Toronto and lost his job in 2003. The salesman attempted on numerous occasions to get himself rehired, in September 2008, 2 days after he failed to get rehired he made the posts. Action has been commenced against the individual and a lawsuit will be filed on the 8th of July. The individual has threatened to continue to blog against us if we sue him. Venulum will sue and then take further action against any other blogs. The second poster is a former IT contractor who has attempted to blackmail Venulum. We are not suing as he is in the process of going bankrupt.
In these difficult times investor confidence is key and these blogs have caused serious upset to a number of our valued clients. There is a fine balance between ignoring nonsense and protecting Venulum’s reputation. The words no publicity is bad publicity works well until the allegation is fraud, then something has to be done. However it is a very expensive and slow process.
Clients of Venulum are reminded that should they receive any negative information about Venulum they should immediately report this to their account manager.
The Venulum Group is a multinational private wealth management firm headquartered in the British Virgin Islands. The Group manages the wealth of high net worth individuals, and specializes in alternative investments often not available to the general public. Venulum helps high net worth individuals balance their portfolios.
The Venulum Group was formed in 2002, and has expanded to include offices in four countries. Since 2002 Venulum’s client base has grown steadily, and now has a substantial number of United States based clients.
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