Base Media accuses Remington Chase and Kevin Robl of entering into numerous fraudulent agreements for massive loans that were secured through equity in the company and its share of profits from various projects.
The company now faces demands for repayments of considerable loans that’s spawned various lawsuits from investors who were also swindled in the scheme. According to the complaint, it’s notified federal investigators and Chinese detectives have initiated a criminal investigation with at least one Chinese national in detention.
Production Capital and other affiliated entities allegedly belonging to Chase and Robl named in the complaint could not be reached for comment. The producers proceeded to ramp up financing efforts to get the studio funded, the lawsuit states. They allegedly used intimate knowledge of the company’s finances learned from their prior dealings to deceive potential investors and told Base that the funds were borrowed from lenders contracting directly with Production Capital and that the company, in turn, would provide the funds under separate arrangements.
Using representations that Base has no obligation to any underlying lenders for the financing of the company’s new studio in Malaysia as leverage, Chase was able to negotiate for equity in the company, cash and a portion of film revenue streams in exchange for forgiving a portion of Base’s debt, the complaint states.
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