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Dotcom Success Cashes Out Winds Up Busted in More Ways Than One

Written by Steve Rhode

Live on Line, one of the initial dotcom success stories, sold for $70 million in 2000. Jeffifer Sultan, the owner scored big and went on to form Global Media Services with her boyfriend and Live On Line co-founder, Adam Cohen.

That’s where this story tips and begins a slide downhill to become another example of massive wealth doesn’t always wind up in massive happiness.

TheNextWeb is reporting that after Sultan spent all her cash she began to deal drugs from her 4 bedroom penthouse with private elevator and roof deck in New York City. Toss in a bit of gun thievery by a New York City cop to settle drug debts and you’ve got one hell of a mess.

“What an idiot!” Sultan’s dad, David Sultan, fumed to The Post after her Manhattan Supreme Court arraignment yesterday with Chavez, 24, and accused NYPD gun thief Police Officer Nicholas Mina, 31.

“She had a great life, and she just f–ked it up,” David Sultan said, adding the charges against his 38-year-old daughter came as a “total, total, total shock.”

“I don’t know what the hell she’s doing,” he said. – Source

The couple found themselves in crushing debt and were just trying to make ends meet. But that’s what millions of dollars in mortgages and an $84,000 property tax bill will do to you.


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About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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