Comes Clean in Response to SnapNames Lawsuit — Nelson Brady
Brady acted alone, states he wanted to generate money for long term health care.
Nelson Brady has responded to a lawsuit filed by Oversee.net and SnapNames regarding the firm’s bidding scandal. Brady admitted to many of Oversee’s allegations. The response does not implicate any other employees in the scheme, indicating that Brady acted alone and other employees did not know regarding his activities.
Brady admitted that he used the Hank Alvarez (halvarez) account to increase bids by other clients and that he refunded money to himself when he won some of the auctions. Prior to Oversee filing the lawsuit, Brady states he agreed to pay back all of the refunds with interest, but the firm refused.
Brady states that his primary use of the Halvarez account was to get domain names for himself; not to increase SnapNames’ revenue. He states he did this to get money for long term health care:
Brady primarily used the Hank Alvarez account to legitimately purchase domain names that Brady believed would be profitable so that he could accumulate savings for his long-term health care. Brady’s mother suffered from a genetic neuromuscular disorder and died at age 56 wheelchair bound with her legs locked in a 90 degree angle at her knees. Brady has the same symptoms as his mother, counting severe pain, weakness and stiffness in his muscles, among other things. All these symptoms have gradually worsened as Brady ages (he is right now 54) and for many years Brady has been able to function only by taking muscle relaxants. Brady’s use of the Hank Alvarez account to purchase domain names and accumulate savings for long term health care was driven by his intense fear that at some future undetermined time he will become incapacitated like his mother. Brady further states that he improperly used the Hank Alvarez account to increase other bidders’ bids in a modest minority of the total auctions that SnapNames administered between March 2005 and September 2009. Brady further states that his improper use of the Hank Alvarez account to
increase other bidders’ bids was completely separate from Brady’s use of that account to acquire domain names for himself, and was done solely for the benefit of SnapNames and Oversee. Brady mistakenly and wrongly believed that increasing other bidders’ bids would help a modest number of SnapNames and Oversee employees other than Brady retain their jobs by creating better financial health for the firms.
Among his defenses, Brady states that firm representatives told him they were not suing him, and that is part of the reason he fully cooperated with the firm during its investigation.
The entire response to the complaint is available here.
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