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Infinium Labs Under SEC Investigation, Phantom Still Vapor
game: Phantom
posted by: Aaron Stanton
publisher: Infinium Labs
developer: Infinium Labs
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date posted: 03:31 AM Thu Nov 3rd, 2005
last revision: 09:10 PM Fri Nov 4th, 2005

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Click to read.At E3 2004, the last time Infinium Labs championed the Phantom game console at a public event with significant gusto, the show was blanketed with fliers, banners, and t-shirts that read, \"I believe.\"

The shirts even glowed in the dark.

Now, it\'s not just gamers that believe (if they do), it\'s also the U.S. Securities and Exchange Commission, which is investigating Infinium Labs for possible transgressions under its former CEO, Tim Roberts. Except it\'s not the Phantom they believe in, but the possibility that Infinium Labs didn\'t keep accurate tax and payroll records.

According to the government, Infinium Labs owes upward of $1.2 million in fees and interest.

Infinium Labs\' current CEO Kevin Bachus told EuroGamer in an interview that the fine would not jeopardize the Phantom console or Infinium Labs, which was working with the U.S. Government to establish some sort of payment plan to rectify the situation.

At the same time, the government is investigating former Infinium Labs CEO Tim Roberts on charges unrelated to the company, or the Phantom console. What those charges are, though, is not yet known.

The Phantom game console has faced numerous delays and challenges about its feasibility, its concept, and about the company behind its development. Where once the Phantom was a source of curiosity, now you\'d be hard pressed to find an informed gamer willing to say the words, \"I believe,\" about pretty much anything about the Phantom. Much of the industry is convinced instead that the repeated delays and insubstantial release dates are symptoms of an illness that will eventually kill the console before it ever reaches the gaming audience.

Questions about Infinium Labs and the Phantom console first appeared in 2003, when HardOCP.com published an investigative article that questioned the validity of Infinium Labs, and specifically the history of its founder, Tim Roberts. Since then, Infinium Labs has been battling for a reputation of legitimacy, a battle which hasn\'t been helped by repeated delays, rumors of misconduct, and now this SEC investigation.

The Phantom game console was supposed be released sometime in 2005.

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