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March 20, 2015

'Boobies Rock' Founder Ordered to Pay $6 Million for Scams

A Colorado man, jailed in January for repeated fundraising frauds, was ordered Thursday to pay nearly $6 million in penalties and reimbursements, writes the Denver Business Journal. The judgment against Adam Cole Shryock includes $1.89 million in repayments and $4 million in civil penalties, the state's attorney general announced.

Mr. Shryock was the founder of Boobies Rock, a for-profit firm that hired models to sell T-shirts at bars and tailgating events, ostensibly to raise money for breast-cancer charities.  He shut down the business under a 2013 state agreement but was incarcerated in January 2014 and again a year later on allegations of organizing similar scams, in violation of court orders barring him from fundraising activity. Under Thursday's order he is prohibited from ever working for a charity.