$200,000 Sofa.com Domain Name Stolen by Employee

Published: August 6, 2007, 6:21 pm

$200k sale of Sofa.com in 2005 was unauthorized by employer. The Sheboygan Press is reporting that at Sheboygan man was charged with selling his employer's domain name for $200,000 and using corporate credit cards to finance international trips with a stripper girlfriend, according to complaint filed today in Milwaukee County Circuit Court. The domain in question is Sofa.com, which DNJournal reported sold for $200,000 in December 2005. The complaint alleges that Stephen M. Galstad sold the domain, which belonged to his employer Dinesen’s Leather Only, to a London-based firm without the company's permission and then had the money wired to his personal account. This isn’t the first time a big ticket domain has been purchased that turned out to be stolen or otherwise unauthorized. A large domain name owner in Texas lost a domain that he paid $150,000 for after it turns out the seller had stolen the domain name. Given that Galstad allegedly had the money wired directly

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