For those who have asked, yes it is true. I have issued a release on my website however, I decided to post the information on social media as well.
I appreciate everyone’s understanding while going through this difficult time. What has been done is in the past and I choose to look to the future instead of reliving the past. A sincere “Thank You” to my close friends who have messaged me with concern. All is well and I look forward to putting this behind me. Let’s look at this as a victory and now focus on the Grand Climax of July 27th. Again, thank you!
Aleister Nacht’s Manager Resigns; Pays Settlement
July 19, 2014
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.