It was mentioned by Pandeya last Friday after Swedish stock exchange AktieTorget withheld trading in Global Gaming's shares when it did not receive all the data it requested about the company's financial situation, according to news reports in Swedish newspaper SvD. Separately, SvD reported that Swedish government have launched a criminal probe into possible insider trading related to an mysterious jump in Global Gaming's share price a week before the company proclaimed its intention to buy The Pirate Bay. There are also uncertainties about the financial status of both Pandeya and Global Gaming, who is the company's largest shareowner. Both he and the company are wrestling with debt, former Global Gaming CTO Johan Sellstrom told CNET News.

 

Ever since his announcement on his company's acquisition plan, Pandeya has declined to provide the lists of his investors, who he has mentioned will put up 60 million Swedish Kroner, or about $8.5 million, to fund the acquisition.

 

What has risen recently has called Pandeya's credibility into doubt.

 

However, according to CNET News, Pandeya said that other than turning over investors' lists to officials from the stock market, he has also given the names to Ben Fritz, a media newsman with the LA Times.

 

"I put The Los Angeles Times in touch with one of them who guaranteed the investment," Pandeya wrote. "I also provided (Fritz) with the name of the investment bank that is handling the investors provided they did not disclose this. So, the DD (Pandeya presumably means "due diligence") regarding this has been done. Now, the stock market needed the names...and I gave them the name of the investment banking company (that) confirmed that the cash was in place. Now, Ben Fritz and the Swedish stock market know the name of the investment bank (besides the investors and us)."

 

AktieTorget confirmed that they did address someone claiming to be an investor. Officials, however, wanted more certification and it was unavailable Friday. AktieTorget won't allow trading to resume in Global Gaming until it receives more evidence that Global Gaming possesses enough money to complete the acquisition.

 

In a phone interview, Fritz declined to remark and would onlymention a July 31 story he co-wrote about Global Gaming with Times newsman Dawn Chmielewski titled "Pirate Bay deal surrounded by Hollywood-style headaches."

 

The paper mentions that Global Gaming "has commitments from more than 30 private investors to provide the approximately $4 million cash portion of (The Pirate Bay) acquisition." The newspaper report does not state its source for this information nor does it remark anywhere that the newsmen spoke to any of the company's financial backers.

 

A review of Latimes.com did not turn up any other stories by Fritz about Global Gaming or The Pirate Bay.

 

I asked Pandeya for the names of the investors under identical conditions he offered to Fritz, and I promised not to publish them until after Thursday. That's the day he has said The Pirate Bay acquisition will be done.

 

"We agreed to keep their names confidential until after the acquisition because they are confused and strongly concerned by  the blasting I have received in media," Pandeya wrote. "I am scared that they will back out if journalists start scrutinizing them."

 

But if this is the case, then why would he give the names to Fritz? Why wouldn't Fritz press in on the dispute if he had this information? There are lots of questions still unanswered about Global Gaming.