CopSync CEO fired after revelation of possible bribery

CopSync CEO Ronald A. Woessner was fired last weekend, according to a March 28, 2017 press release, and I’m wondering if it had anything to do with my earlier posts about an alleged private stock sale to officials in Robertson County, Texas.

As I reported on January 6, 2017, a law enforcement source told me that Dallas-based CopSync made the private stock offering to county officials shortly before they voted on a contract with the company, which specializes in data sharing among law enforcement agencies. In response to a letter from me, Mr. Woessner did not expressly confirm the Robertson County incident, but he seemed to confirm the general practice of making private stock sales to government decision makers.

On January 30, 2017, I reported that CopSync’s outside directors hired a Florida law firm to investigate the allegations in my letter, and the following day I reported that my law enforcement source had been interviewed by the FBI. I’ve since asked CopSync officials for information about the internal investigation, but I never received a response.

Here’s the text of an email that I sent to CopSync directors Luisa Ingargiola and Larry Schafran on March 25, 2017, the day after Mr. Woessner was fired:

Ms. Ingargiola and Mr. Schafran,
 
I’ve heard from a couple of sources over the weekend who say Ron Woessner was forced out as CEO and his wife Alyssa Kirk was forced out as COO. Is that correct? I’m also wondering whether the company plans to release any information about the findings of the investigation by Michael Harris’s firm. Thanks in advance.
 
Ty Clevenger
a
They never responded, and I only learned about Mr. Woessner’s firing because I checked the company’s website. As the March 25 email would suggest, I’ve been contacted by multiple sources regarding CopSync, and one of them wants to discuss a lawsuit against the company.
a
If CopSync beat out its competitors by making special stock deals with government officials, then Mr. Woessner and the company have a very serious problem (as do some government officials). They could face civil suits from their competitors, as well as criminal charges from state and federal prosecutors. Since CopSync contracts with law enforcement agencies nationwide, that’s a lot of potential exposure.
a
Meanwhile, the company’s stock is trading at around 30 cents per share. If you’re a police chief or sheriff with a CopSync contract, you probably should have a backup plan.
Ty Clevenger says:

03/30/2017