The practically year-long saga involving Root Inc. and its former chief advertising and marketing officer continues – with him in county jail.
Brinson Caleb “BC” Silver, Root’s CMO from November 8, 2021 to November 9, 2022, has been in jail in Butler County, Ohio since June, in response to the jail’s web site. A federal decide within the Southern District of Ohio ordered Silver detained for contempt on June 20.
Root Inc., guardian firm of Root Insurance coverage, has accused Silver and others, in a complaint seeking damages and injunctive relief first filed in February, of defrauding the insurtech of about $10 million. Throughout his quick time as CMO, Silver stole cash meant for promoting campaigns in a sequence of transfers to firms owned by him or his household, after which spent the funds on luxurious actual property, WaveRunners, and holidays.
In line with courtroom data, Root’s legal professional final week filed an utility for entry of default since Silver has didn’t reply or plead to the lawsuit. Information present Silver has largely been uncooperative in the course of the authorized course of – denying the supply of summonses, failing to supply info to a court-appointed custodian of his property and property, and violating a courtroom order limiting his spending.
Root on the finish of September submitting a second amended criticism requiring Silver to plead shortly, however he missed the deadline.
The newest submitting from Root mentioned Silver’s attorneys withdrew as his presentation and he stays with out counsel. Nevertheless, in a Nov. 15 entry to the docket, the appliance for default was denied since Silver responded to the primary amended criticism filed earlier this 12 months.
Within the meantime, a court-appointed receiver has been accumulating and promoting off Silver’s property, together with property he allegedly paid for with the ill-gotten beneficial properties, similar to a house not too long ago auctioned off for about $1.4 million.
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