LaserPerformance Update

by Pam

The investigation into Farzad Rastegar, Maclaren, and LaserPerformance just keeps on turning up interesting information.  Alice Hines from the Huffington Post writes:

Maclaren was founded in 1965 in the U.K. by aeronautical engineer Owen Maclaren. It changed ownership several times before being acquired out of receivership in 2001 by current Maclaren USA CEO Farzad Rastegar, an Iranian businessman. Rastegar had invested in Maclaren since the mid-1990s and helped restructure the stroller company. He moved manufacturing to China under the direction of a new company, Maclaren Hong Kong Limited, and established Maclaren Europe Limited and Maclaren USA as regional distributors.

In March, Rastegar's bankruptcy lawyers claimed that Maclaren USA had no knowledge of the ownership of Maclaren Hong Kong Limited. Bankruptcy trustee Napolitano disputed the claim in a court document filed April 24, writing that she believed the U.S. company possessed "knowledge sufficient to allow complete responses to her requests for information." Maclaren USA owes $13.1 million to Maclaren Hong Kong Limited, according to bankruptcy filings.

Rastegar, subpoenaed in New York on May 10, testified that both Maclaren Hong Kong Limited and Maclaren Distribution Limited (the parent company of Maclaren Europe Limited) are owned by his mother and sister.


Hmmm ... this sounds a little familiar.

Update:  Videos that were here were removed due to Anonymous comments on later post