BRS Sues Founder, Allegedly Stole $15 Million

By: John Honovich, Published on Feb 13, 2017

The disaster of BRS Labs continues to unfold. 

BRS Labs, after $100+ million in investment and now known as Giant Gray, has sued their founder Ray Davis and his son:

The deceit employed by Defendants to conceal their fraud and breach of duties knew no bounds and went undetected for years -- resulting in their theft of more than $15 million from the Company

We have obtained the company's petition in Texas court and it reads like a Hollywood screenplay.

Inside this note, we examine the issues involved and the future for BRS / Giant Gray.

*** ******** ** *** Labs ********* ** ******. 

*** ****, ***** $***+ million ** ********** *** *** ***** ** ***** Gray, *** **** ***** founder *** ***** *** his son:

*** ****** ******** ** Defendants ** ******* ***** fraud *** ****** ** duties **** ** ****** and **** ********** *** years -- ********* ** their ***** ** **** than$** *********** *** *******

** **** ******** *** company's ******** ** ***** court *** ** ***** like * ********* **********.

****** **** ****, ** examine *** ****** ******** and *** ****** *** BRS / ***** ****.

[***************]

No ******

*** ** *** ****** Davis **** ** ********* when **** **** *********** was **** ** *** not **** * ******, emphasizing **** *** ********* success *** **** ** the *******'* ******* / exit. **** **** ********** that.

Petition ******

**** *** ** **** Giant **** / *** / ***** ********.

Antiques **********

*** ***** ******* ** the ******** ** ***** a ********** ******:

*** ********* *.*. ****** invoices ***** **** *.*. Farrow’s ********* ******* *** be ***** ** *** Princes *******, **********, ********, Australia. ** *** **** a ****** ****** ****** for *.*. ******, *** would ******** **** *.*. Farrow ** ** ********** who ****** **** ** April **, **** *** is ****** ** *** Springvale ********* ********. *** Springvale ********* ******** ** located ** -- **** roll ****** -- *** Princes *******, **********, ********, Australia.

*** ******** ******* **** ***** used ******* ***** ** buy ******** ** **** a ******* ******:

** *** ** *.*. Farrow? ** *******, *.*. Farrow ** *** ****** -- ** *********** ****** based ** *** ****** Kingdom *** ********* ******** and **** * ******* of ******** ** *** Davis. Regular ************** ******* *** Davis *** *** ****** reveal ****** ******** **** antiques ** ** “******* bangle,” * “********* ********,” “roman **** *****,” *** “luristan ****** ******,” ***** Ray ***** ****** ** purchase ** ** ***** “open * ******* ******” when ** *******.

Afcon ********** - $* *******

**** **, ** **** $4 ******* ** ******** to '*****':

**** **** *.*. ******, Defendants ********** *** ******* BRS ** **** ****** two ***** ******** ** an ****** ***** ***** Communications

*** *** **** *****? Allegedly *** *****.

***** ** * *********** registered ** *** ********* under *** **** ** Wyoming.... * ***** ****** at *** ******* ********* of *****’* ******* ********** Afcon’s “*********/********” ** **** other **** *** *****.

Blackstone ********** - ~$* *******

****** $* ******* ** Blackstone:

** *****, ********** ********** and ******* *** ** make ******** ** ********** Group ** ** ****** of$*,***,***.**.

*** *** ******** ******* Blackstone **** *** *****:

***** ** ** ******** between *** *** ********** Group, *** *** ***** any ******* ** *** Company (********* *** ****** whatsoever) ******* **** ********** Group ******** *** ******** to *** ** *** time. ******** *** **** Blackstone ***** ****** **********, there ** ** *** presence *** **** * company, *** *** ******* on *** “********” ** not * **** *******....  That *******, *******, ** not ** ****** ******** in ***** ********** ******** operates. ******, ** ** the ******** ** * UPS *****.

*** ******** ***** ****** to *** *****:

** *** ***** ********* in *** *******’* *******, when *** ********* * payment ** ********** *****, a ************ *** ******** by ***’* **** ** Blackstone ******* *** *****’* ******** email *******! ** ******* ** was ***only Company employee notified of the transactions with Blackstone Group.

Mirage - $*.* *******

**********, * ******* ***** 'Mirage' ** *******:

** ****** **** ** no ******** ** ****** who *** **** *** first ** ********** ** this ******* **** ****** Software **, ******, * mirage – ********* ********, without ********* ** *******. BRS ***** ****** *** agreement **** ****** ********, never ********* ******** **** Mirage ******** *** ***** did ******** ** *********. Remarkably, ***’* ******* *** devoid ** * ****** invoice **** ****** ******** justifying *** ******* ** almost $*.* ******* ** Company *****, *** ***** is ** ***** ******* any *** ********* *** Mirage ********.

The *** ** *** / ***** ****?

*** **** / ***** Gray *** **** ***** stopped ***** *** ******. However, ** *** ****** decade ** **** **** covering *** ********, ** company *** **** ***** to *** ** ***** of ***** ******* ********, so **** ** *** surprising. ****** *** **** 'mom * ***' ***** investors **** ****** ** in this *** *** ******** ones *** ******* ** worryingly ****** ** ***** their ***********.

***** *********** *** **** and *** ***** ***** to ** **** ** well, ** ** **** more ***** **** **** is **** ** ***** Gray.

Comments (16)

Who plays Ray in the movie????  You could not write a better script!!!!!!

My vote is for John Lithgow. 

 

The Giant Gray goose is cooked.

There already is a screenplay for this.  Sounds like they need to call in The Accountant!

So I guess they were not the "smartest guys in the room"....

Giant Grift.

So, which company is the next BRS/Giant Grey?  Knightscope?  

So, which company is the next BRS/Giant Grey? Knightscope?

That's funny because at least 3 people have independently made that comparison to me recently.

I actually don't agree, mainly because Knightscope has a real product that works (at least the fundamentals, I am excluding the hidden gun detection, etc.) and the founders seem more legit than BRS.

However, the way inflated expectations and the turn to raise money from mom n pops does draw some parallels. But my read on Knightscope is that this is just normal Silicon Valley shoot for the moon type execution rather than BRS bs.

That's a lot of mom n pops to fund $100 million.  But I know 3 business associates who invested in the company in the initial stages.  What a shame.

But I know 3 business associates who invested in the company in the initial stages.

3? Wow. How sad.

San Diego seemed to be a 'hotbed' for BRS Labs investors. One person who contacted me saying that they were an investor said that they were introduced by a waiter in a super high end restaurant. Strange deal. 

Ray Davis has a brother that lives in San Diego and managed to recruit a lot of investors from Southern CA.

I just received a letter in the mail reminding me of my two months affair with Giant Gray - Their attorney seeking to recover fees accumulated.

This affirms my belief that a product marketing manager, should be technically capable enough to test the product they promote publicly.

Sagy, thanks! What did the attorney want? Are any of the investors ever going to get any money back?

It is a general notice offering anyone with any prior dealings with the company the opportunity to object to a motion seeking to recover lawyer's fees. There is a courtroom hearing scheduled for Dec 9, 2019 in Houston if you're interested, LOL :)

Read this IPVM report for free.

This article is part of IPVM's 6,303 reports, 841 tests and is only available to members. To get a one-time preview of our work, enter your work email to access the full article.

Already a member? Login here | Join now

Related Reports

ADT Acquires Much Maligned "Defenders" on Jan 07, 2020
"The Defenders" has the dubious distinction of being ADT's largest partner and a long history of customer and employee complaints and...
Arcules CEO Retracts False GDPR Claim + Dahua and Milestone Claims Examined on Dec 03, 2019
Arcules CEO has retracted a false claim about his organization being a "fully compliant GDPR company" after IPVM reporting (Arcules CEO Threatens...
Arcules CEO Threatens Over "Security Breach" on Nov 25, 2019
An Arcules employee called out a recent 'security breach', however, Arcules CEO disputed this as 'inaccurate' and threatened to sue IPVM. Inside...
Wyze Fires Back at JCI - Your Patents Are Invalid, Pay All Of Our Costs on Nov 18, 2019
Goliath JCI targeted startup Wyze this summer alleging the fast-growing consumer startup was violating a slew of JCI's patents. Now, Wyze has...
UK Facewatch GDPR Compliance Questioned on Aug 27, 2019
Even as the GDPR strictly regulates biometrics, a UK company called Facewatch is selling anti-shoplifter facial recognition systems to hundreds of...
JCI Sues Wyze on Aug 21, 2019
The mega manufacturer / integrator JCI has sued the fast-growing $20 camera Seattle startup Wyze. Inside this note: Share the court...
Nortek and SDS Fight Over Failed Settlement on Jun 05, 2019
Distributor SDS said they reached a deal with Nortek but Nortek says no settlement was reached and the suit is still on. In this post, based on...
ASCMA / Monitronics Declares Chapter 11 Bankruptcy on May 22, 2019
Monitronics is entering into Chapter 11 bankruptcy. The company, also called Ascent Capital Group Inc., aka ASCMA, aka Brinks Home Security,...
ADT's Top Dealer "The Defenders" Sued 20+ Times on May 07, 2019
ADT's largest authorized dealer, The Defenders, has been sued more than 20 times since 2012, IPVM has verified through analyzing legal...
UK Camera Commissioner Calls for Regulating Facial Recognition on Apr 15, 2019
IPVM interviewed Tony Porter, the UK’s surveillance camera commissioner after he recently called for regulations on facial recognition in the...

Most Recent Industry Reports

VergeSense Presents People Tracking Sensor on Jun 04, 2020
VergeSense presented its people tracking sensor and social distancing insights at the May 2020 IPVM Startups show. A 30-minute video from...
FLIR A Series Temperature Screening Cameras Tested on Jun 04, 2020
FLIR is one of the biggest names in thermal and one of the most conservative. While rivals have marketed fever detection, FLIR has stuck to EST...
"Fever Camera" Show On-Demand Watch Now on Jun 03, 2020
IPVM has successfully completed the world's first "Fever Camera" show. Recordings from Both days are posted at the end of this report for on-demand...
Cobalt Robotics Presents Indoor Security and Access Robots on Jun 03, 2020
Cobalt Robotics presented indoor security robots at the May 2020 IPVM Startups show. Inside this report: A 30-minute video from Cobalt...
Dahua Sues Ex-North American President, Says Legal Typo on Jun 03, 2020
Dahua's former North American President Frank Zhang claims he is owed almost $11 million but Dahua counter claims it is just a "scrivener's error",...
Smart Entry Systems Presents Cloud Multi-Tenant Access Control on Jun 02, 2020
Smart Entry Systems presented Cloud Multi-Tenant Access Control at the May 2020 IPVM Startups show. Inside this report: A 30-minute video...
Genetec Drops Support for Dahua and Hikvision on Jun 01, 2020
Genetec has dropped support for Dahua and Hikvision, citing US blacklisting and ONVIF conformance blockage, the company informed partners in an...
Dotty "Hot Or Not" Elevated Body Temperature App Tested on Jun 01, 2020
What if you could take an existing phone or tablet and transform it into "fever camera"? That is what DottyAR is doing with their strangely named...
Optris "Fever Screening Systems" Examined on Jun 01, 2020
German manufacturer Optris has been building temperature measuring instruments for industrial manufacturing for over 15 years, and thermal cameras...
Fever Camera Sales From Integrators Surveyed on Jun 01, 2020
Fever cameras are the hottest trend in video surveillance currently but how much are integrators selling them? 220 integrators answered the...