Wonder why the yet-to-be-released-in-America Gizmondo is so darn expensive? It might have something to do with company bigwigs using company money to pay off their lovers, buy crap like cars and hang out with Sting.

Eurogamer reports that parent company Tiger chalked up ballpark net losses of $99 million in 2004 and an operating loss of $210 million during the first half of 2005. What's to blame? According to a released report, "Development costs for the Gizmondo and non-cash expenses."

Here's where it gets interesting. Back in 2004, Gizmondo Europe brought on a consultant for $170,000. Her job? "Marketing and public relations services, an introduction to the performer Sting, and time spent in connection with the Agaju gaming concept currently in development." This Police-loving consultant's name? Anneli Freer, the wife of Gizmondo Europe's Executive Officer.

Guess what? There's more. The corporate secretary of Gizmondo Europe was paid almost $150,000. She was also given $83,000 in bonuses and given a $70,000 car. This lucky lady lives with none other than the Director of Gizmondo Europe. The Director himself was presented with an automobile valued at $230,000 by the company.

This is just the beginnings of Gizmondo's woes. The folks running that company are so moronic and arrogant. Just shut 'em down, kick 'em out and send me the keys to the Ferraris.

Full Story [Eurogamer]
Available in October

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