Posted: Mar 22, 2010 3:38 AM by Matt Stafford
Updated: Mar 22, 2010 3:38 AM
Seven years ago, Eric Majors was a C.E.O. of a publicly traded technology company out of Colorado Springs. Now Majors is on his way to prison.
"If my serving in prison will help people feel better, I hope it does," Majors explains. "I hope it serves some constructive purpose because I can tell you I am certainly not going to feel anymore sorrow tomorrow or a year, or five years from now that I feel right now, today."
He took a plea deal, trading more than fifty charges for one; trying to defraud the Securities Exchange Commission. He just received his sentence of paying restitution and five years in prison.
That prison term starts in August, but before then he's tying up loose ends, which includes admitting his crime and talking former shareholders.
"I just want you to know we have suffered as well," Majors says.
Majors says he didn't understand the magnitude of what they were doing and had no idea they would be charged as criminals.
"None the less we were and it was wrong and there's no excuse I can make about that," says Majors.
When charges were filed in 2007, Majors and his family were living in South Africa. They moved back to face the charges. Majors expected punishment, but seems to disagree with the decision.
"I don't think it serves any constructive purpose," explains Majors.
Majors is court ordered to pay more than $120,000 to shareholders and nearly $40,000 to the I.R.S. That's a task he tells me is made nearly impossible by his sentence.
"Even though they've ordered restitution to be paid, they know that I would not be able to do it if I go to jail," explains Majors.
However, he says he's not dropping his responsibility.
"I committed these crimes and it's not for me to judge the court," Majors says.
Majors says his goal is to eventually pay the shareholders back, but that he says will take some time.
Since the closing of Maximum Dynamics, Majors says people have asked him questions about the circumstances. He says he hasn't been able to respond up until now because of the trial. However, now that the trial is over, Majors says he's willing to talk. He says he's set up an email address for questions. Majors says if you send them to firstname.lastname@example.org, he will try to respond.
Co-defendant in the case, former C.F.O. Joshua Wolcott, accepted a plea bargain as well. His sentencing is set for early April.