[2][3][4] It owned television stations, published lifestyle magazines, and created infomercials and promotional videos.
[11] In Feb. 2009, the U.S. Securities and Exchange Commission began a lawsuit against Allen Stanford and the financial services companies involved in his Ponzi scheme.
USFR Media Group and other companies that were part of the Stanford investment portfolio were put into receivership.
[5] John B. Goodman was still an equity shareholder; in December 2009 he formed a Limited Liability Company to buy Stanford's interest[12] and in April 2010 the courts were petitioned to allow this purchase, but in that same timeframe he was arrested for DUI manslaughter during a hit-and-run car accident.
The sale included all assets, the tower operating company, licenses that were still being held under the name Humanity Interested Media (from when KTBU first went on the air), and permits.