Latest in Gaming

Image credit:

UltraCade founder gets two years in prison for game counterfeiting, bank fraud

Danny Cowan, @db_cowan
January 27, 2014
Share
Tweet
Share

Sponsored Links

UltraCade Technologies founder David R. Foley has been sentenced to two years in prison for fraud stemming from the illegal copying and selling of arcade game data.

UltraCade offers a lineup of full-size arcade cabinets outfitted with emulated games under license from publishers like Capcom, Midway, and Taito. UltraCade owners can add new games to their cabinet's playable roster by purchasing upgrade CDs and USB keys featuring titles pulled from individual publisher catalogs.

Founder Foley sold a portion of UltraCade's assets to arcade game manufacturer Global VR in 2006, and was later hired on as the company's CTO. A federal court accused Foley of selling counterfeit UltraCade game packs via eBay in 2009, leading to his dismissal from Global VR.

In 2012, Foley pleaded guilty to federal charges of conspiracy to defraud Global VR, and admitted to defrauding a bank out of a nearly $3 million loan by falsely claiming that he was still employed by the company after his departure.







In this article: arcade, global-vr, legal, sentencing, ultracade
All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
Comment
Comments
Share
Tweet
Share

Popular on Engadget

Ubisoft is giving away 'Watch Dogs 2' on PC this weekend

Ubisoft is giving away 'Watch Dogs 2' on PC this weekend

View
Supreme Court rules against law allowing debt-collection robocalls to cell phones

Supreme Court rules against law allowing debt-collection robocalls to cell phones

View
Ad boycott leaders say meeting with Zuckerberg was 'a disappointment'

Ad boycott leaders say meeting with Zuckerberg was 'a disappointment'

View
Audi says its Q4 Sportback e-tron concept has a 'sexy back'

Audi says its Q4 Sportback e-tron concept has a 'sexy back'

View
New H.266 codec uses half the data to stream 4K video

New H.266 codec uses half the data to stream 4K video

View

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr