In an exclusive interview with Upcomer’s Kevin Hitt, Echo Fox minority co-owner Amit Raizada gave his side of the story which started with his racist language in company emails to Echo Fox ultimately selling their LCS slot to the Kroenke group after failing to remove Raizada from the org.
To Upcomer and on twitter, Raizada addressed the question of Echo Fox’s debt, Kyle Fox’s tweets about Raizada’s charges of unlawful sexual conduct in the past, the racist language he used, and more.
On charges of unlawful sexual conduct with a minor
On August 1, Rick Fox’s son, Kyle Fox, published on Twitter a screenshot of Amit Raizada’s criminal history, showing unlawful sexual conduct with a minor dating to October 1996, with charges being filed in April 1997. According to Raizada, however, this was a case of “mistaken identity”.
“As soon as I learned of it, the case was dismissed,” Raizada stated on Twitter.
Although several other sites like CheckPeople show a person with the name of Amit Raizada (whose relatives are among Echo Fox’s Amit Raizada’s family), the Westerville court house records don’t show a case matching the screenshot.
The story is developing.
On Echo Fox’s debt
In his interview with Richard Lewis, Rick Fox spoke about Echo Fox’s financial problems which arose in 2018 and Raizada’s involvement in the situation. At the time, Raizada owned some of Echo Fox’s debt and another part was owed to third parties. According to Fox, after he tried to buy out Raizada’s controlling interest, Raizada moved to acquire the rest of Echo Fox’s debt, demand it’s paid out or he’d call the debt. “He held the company hostage,” Rick Fox said.
Raizada’s version is different. According to him, he was the one who sought to get out of Echo Fox, not trusting Rick Fox’s management capabilities. In the end, Fox and Raizada reached to a $10M buy-out agreement. Fox raised half that himself, while Raizada “financed the other $5M” — a sum Rick Fox would have to pay eventually. This is when, Raizada alleges, Fox came to Dexerto leaking the email that started it all.
“So Fox leaks it out Dexerto and we’ve got some other information that we’re going to be sending out shortly saying how it was all conspired deal of trying to get rid of $5 million worth of debt to me,” Raizada told Upcomer. The investor believes this was Rick Fox’s plan to defraud Raizada, using the threat of bad press to have Raizada waive the debt.
“Rick tried to extort family members of mine telling them he was going to drag them through the mud. My family members couldn’t understand what was happening.”
Why Riot Games intervened
According to Raizada, while the emails were what prompted Riot’s investigation, it wasn’t the reason why Echo Fox were made to leave.
“The email started an investigation,” Raizada claims. “The material breaches that occurred with Echo Fox were that they did not have $5 million dollars in liquidity, had a loan over $1 million dollars, and when Rick converted investors from debt to equity, there were some that become more than 10% owners. You cannot give away more than 10% without prior approval from Riot.”
This, however, does not fit Riot’s own public statements. In their initial statement from May 15 — 20 days after Richard Lewis’ original report — Riot Games said:
“The LCS has concluded its preliminary investigation into the alleged comments made by a member of the Echo Fox ownership group. Hate speech, threats, and bigotry have no place in the LCS. We have directed Echo Fox to take appropriate corrective action within 60 days.”
The same language was used in their follow-up Tweet about Echo Fox’s seven-day extension: “remove those individuals”.
Story is developing.