Omar Amanat was convicted in December 2017 of conspiracy in a scheme involving KIT Digital and its CEO.
10 Facts About Omar Amanat
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Omar Amanat began at startup Datek Online and afterwards he moved to Texas and partnered with Philip Berber on a prototype online trading system called Cyber-Block, which was acquired by Charles Schwab for $488 million in 2000, before moving to New York to start Tradescape, of which he was the founder, chief executive and majority shareholder.
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Omar Amanat was the executive producer of the 2007 drama The Visitor and the 2008 comedy drama Smart People not including approximately 75 other films he financed via Summit Entertainment from 2007 to 2012.
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In February 2014, Omar Amanat co-founded with Adrian Zecha a new venture known as Aman Resorts Group Limited backed by a consortium of investors led by Vladislav Doronin.
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In July 2014, Omar Amanat filed suit in the High Court of London against Vladislav Doronin, claiming Doronin committed breaches of a shareholders' agreement and forced the unlawful ouster of Adrian Zecha as CEO.
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In March 2016 the High Court in London published an order which confirmed the settlement between Doronin and Omar Amanat, ousting Omar Amanat from the Aman Resorts ownership group.
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In July 2016 Omar Amanat was arrested as part of the conspiracy case against former technology IPTV company KIT Digital.
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In December 2017, Omar Amanat was found guilty of defrauding Kit investors along with his associate Kaleil Isaza Tuzman, the former KIT Digital CEO.
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Tuzman and Omar Amanat had been accused of conspiring to inflate KIT's trading volume and share price between 2008 and 2011 in an effort to hide their devastating losses.
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On 19 August 2021, Omar Amanat was sentenced to five years in federal prison and fined $175,000.