Isaza Tuzman lived the thug life…
Isaza Tuzman spent more than four years at Goldman Sachs Group Inc., working in emerging markets arbitrage. In 1998, while still at the bank, he co-founded govWorks.com, a website that promised to link people to local municipalities. In the 2001 documentary “Startup.com,” he could be seen pitching venture capitalists and chatting with Bill Clinton at a summit about the Internet.
After govWorks collapsed in bankruptcy in 2001, Isaza Tuzman went on to head at least three tech startup firms, including one that eventually was renamed KIT Digital. He left the company in April 2012, a year before it declared bankruptcy.
In August, federal prosecutors in New York returned a sealed indictment against Isaza Tuzman. Prosecutors say that while at KIT Digital, he engaged in an elaborate scheme to mislead investors and regulators about the financial health of the company for at least three years. He’s also accused of secretly operating a hedge fund that artificially inflated the company’s share price and of using funds from KIT Digital to secretly invest in his hedge fund.