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Now Fuhu's remaining creditors, which number more than a hundred and collectively are owed almost 0 million (5 million if you count the estimated damages of a class-action lawsuit), have hired forensic accountants to sift through Fuhu's books to see where the money went, what can be clawed back, and whether any funds were misappropriated.
"Two or three million dollars wasn't small where I come from," recalls Fujioka.
"But I turned to John and said, 'I'm at this point in my career where I need to stop messing around with this small money.'" The idea for Fuhu, which launched in 2008, was Steve Hui's.
By 2000, the 30-year-old had ascended from assistant sales manager at Cort Furniture Rental in Southern California to small-time dot-com entrepreneur.
Fujioka had established a formula for hatching discrete tech marketing companies--graphic design, Web advertising, email marketing--running a business for a couple of years, and then flipping it for a million bucks or so.
Once Donohue was on the line, he seemed sympathetic. But by the morning of October 30, Tennenbaum had declared Fuhu in default of its loan agreement. A few days later, Tennenbaum froze the assets in Fuhu's warehouse--then swept all of the cash from its bank account. Indeed, their lawyers soon explained, they fricking could.