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May 08, 2013

Aaron Greenspan Suing Facebook and Other Silicon Valley Stars

By Nicole Spector, Contributing Writer

If you can't beat them, join them. Or, sue them.

Aaron Greenspan, the founder of Think Computer, creator of the FaceCash mobile payment system and self-proclaimed co-founder of Facebook (News - Alert), is intent on getting Zuckerberg to pay up.



According to documents filed on Monday, Think Computer has initiated a lawsuit against a ton of Internet companies, targeting Silicon Valley’s most influential investors and entrepreneurs.

Greenspan is specifically after ‘money services businesses,’ professional investment firms and those that have financially backed up the startups under fire.

On the lost list of defendants are, to name the biggest, Facebook, Airbnb, Y Combinator, Andreessen Horowitz, Dwolla, Square, Coinbase, Sequoia Capital, A-Grade, Kleiner Perkins Caufield & Byers, DST Global and Sequoia Capital.

PayPal (News - Alert) and Slide co-founder Max Levchin is also on the list, as is Airbnb co-founder Brian Chesky, Russian billionaire investor and businessman Yuri Milner, and Reddit CEO Yishan Wong.

This is certainly not the first time Greenspan has taken mega moguls to the courthouse. He has previously sued Google (News - Alert), Sony Pictures, Random House, the author Ben Mezrich, a deputy commissioner at the Department of Financial Institutions’ Money Transmitters division, Robert Venchiarutti and the State of California.

The latest complaint filed by Computer Think is 146 pages long. The gist is that Greenspan is suing the companies and individuals under California Business & Professions Code 17200, primarily due to myriad violations of the California Money Transmission Act (MTA) and the Bank Secrecy Act (BSA) and various other statutes stemming from unlawful, unfair, fraudulent and deceptive business activities based thereupon.

Greenspan has declined to comment any further, stating that the complaint speaks for itself. Fair enough – after all, Greenspan has never been silent on his rage toward Silicon Valley. He has written about it in the past, and is outspoken about the matter on his website.




Edited by Alisen Downey
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