Netflix, Inc. (NASDAQ:NFLX) target of $1 billion shakedown by Pablo Escobar’s brother

James West
|

Netflix, Inc. (NASDAQ:NFLX) must pay $1 billion for using images of cocaine cartel boss Pablo Escobar in Narcos says the late kingpin’s brother Roberto Escobar.

Read the letter from Roberto Escobar to Netflix Inc.

Now, with Pablo gone and the cartel disbanded, Escobar Inc., a company in which Roberto Escobar is a major and founding shareholder, seeks to capitalize on the famed drug lord’s legacy by making sure the family gets a piece of any media production that seeks to tell his family’s story while making sure they tell the right story. In a letter to Netflix, published by TMZ, Roberto , was once the cartel’s CFO, asks that Netflix must pay $1 billion for the use of the Escobar name and likeness, as well as allow Escobar to approve future episodes.

Listen to the podcast interview with Escobar Inc. COO and CEO Daniel Reitberg and Olof Gustaffson:

 

To protect his family’s claim to the Escobar legacy, Roberto Escobar, in partnership with U.S. businessmen Olof Gustaffson and Daniel Reitberg, founded Escobar Inc.

Gustaffson and Reitberg, CEO, and COO respectively, spoke to me this week from Medellin, Colombia. Gustaffson said he has direct instructions from Roberto Escobar to get $1 billion from Netflix or a lawsuit will follow.

“Well me and Dan, when we were in the jungle about three weeks ago, Roberto [Escobar] said very clearly, ‘Do not accept anything less than $1 billion.'”

I wondered whether they had the resources and legal position to justify such a suit, but Gustaffson insisted that they were registered in “all states where registration is available” and that they had “pending trademarks and copyrights.”

When I inquired as whether or not they had a real expectation of getting paid, Gustaffson said, “Well we’re planning to see where to send the wire instructions, but most likely, they’re just going to give us stock.”

Next week, I’m going to interview Roberto Escobar himself, so stay tuned.

An inquiry to Netflix confirmed the existence of a legal issue, with the emailed comment from [email protected], “we do not comment on ongoing legal matters.”

James West

James West

Editor and Publisher

James West founded Midas Letter in 2008 and has since been covering the best of Canadian and US small cap companies. He covers global economics, monetary policy, geopolitical evolution, political corruption, commodities, cannabis and cryptocurrencies. As an active market participant, James is not a journalist and is invariably discussing markets...
More Info...

[email protected] | |

Midas Letter is provided as a source of information only, and is in no way to be construed as investment advice. James West, the author and publisher of the Midas Letter, is not authorized to provide investor advice, and provides this information only to readers who are interested in knowing what he is investing in and how he reaches such decisions.

Investing in emerging public companies involves a high degree of risk and investors in such companies could lose all their money. Always consult a duly accredited investment professional in your jurisdiction prior to making any investment decision.

Midas Letter occasionally accepts fees for advertising and sponsorship from public companies featured on this site. James West and/or Midas Letter may also receive compensation from companies affiliated with companies featured on this site. James West and/or Midas Letter also invests in companies on this site and so readers should view all information on this site as biased.