Director found in contempt of court

Topeka Capital-Journal, The, Mar 15, 2003 by Michael Hooper Capital-Journal

R E N A I S S A N C E T T P I N C .

By Michael Hooper

The Capital-Journal

A Shawnee County District Court judge has found the director of Renaissance TTP Inc. in contempt of court and has given him until Wednesday to come into compliance with a temporary restraining order on the company.

District Judge Richard D. Anderson found Michael C. Cooper, a director and officer of Renaissance TTP Inc., of Topeka, in contempt of a court order on Wednesday and ordered him to jail. But after Cooper's "oral motion" for a stay, the court gave him seven days to come into compliance with a restraining order on Renaissance TTP Inc.

The judge said Cooper failed to account for a $1.4 million refund received by Renaissance from the federal government and also failed to account for the sale of some real estate in Puerto Vallarta, Mexico.

"The court finds that one parcel of real estate was sold for $1.75 million," Anderson wrote in a journal entry. "Defendant Cooper now claims that the real estate was sold to Mr. Larry Price who in turn gave the corporation a promissory note for $2 million."

Rex Beasley, assistant Kansas attorney general, said Price was the property manager for the property in Mexico.

Beasley said proceeds of the sale of the Mexican property haven't been given to the corporation and need to be turned over to the receiver, Robert Baer, a Topeka lawyer.

Jerold Berger, Cooper's attorney, said: "We're in the process of doing everything the judge has asked us to do. It's our intention to cooperate with the judge's order fully and completely."

In May 2001, a Shawnee County judge said Renaissance was operating an illegal pyramid scheme. The judge's ruling, which followed a lengthy hearing in February 2001, was issued in an ongoing lawsuit filed by the Kansas attorney general.

The order prohibited the business from selling assets without court approval.

Anderson noted on Wednesday that the restraining order prevented Renaissance from paying commissions to any of its independent marketing associates. Yet $948,000 was paid in commissions in November and December 2000, the judge said.

The only explanation offered by Cooper is that he said he thinks some accounting disparity exists that can be explained by further examination of his records.

The court ordered claims involved in the commission payments be presented to the court by April 30.

Michael Hooper can be reached at

(785) 295-1293 or mhooper@cjonline.com.

View court documents in the case against Michael C. Cooper and find video and archived coverage on Renaissance TTP Inc.

www.cjonline.com

Michael C. Cooper