Aleister Nacht’s Manager Resigns; Pays Settlement
July 19, 2014
Pass-A-Grille, FL
Adam Cohen, manager and longtime business partner of best-selling author Aleister Nacht, resigned earlier today and agreed to pay $425,000 to settle allegations of fraud and misappropriation of the author’s funds. In a statement issued this afternoon, Nacht called the circumstances surrounding Cohen’s resignation “A betrayal of trust motivated by greed”. “Adam was a business partner I trusted and he took advantage of that trust. He will now pay for his greed”.
Details of the settlement included Cohen’s immediate resignation, an uncompensated surrender of his 30% stake held in Loki/Speckbohne Media, and the payment of $425,000, which includes $225,000 owed to Nacht in back royalties. Due to the agreed upon settlement terms, neither Loki/Speckbohne Media nor Aleister Nacht will file criminal charges or seek future legal remedies.
Cohen could not be reached for comment.
