BAHAMIAN businessman Hubert Pinder, who set up a company supposedly capitalised by $83.345 million worth of "precious gem investments" to both buy into retailer Robin Hood and then solicit investors for a further $20 million, has an "unpaid" $5.154 million default judgment outstanding against him from a Canadian court.

Documents obtained by Tribune Business show that inventor Per Hahne obtained the March 19, 2010, Ontario Superior Court of Justice judgment against Mr Pinder after the latter allegedly failed to pay him $5 million over an agreement to purchase his electronic security bracelet.

And, in written responses to Tribune Business's questions, Mr Hahne, while confirming that the judgment sum had yet to be settled, said Mr Pinder had again wheeled out his "emeralds and precious gems" in an effort to do so.

Detailing his involvement with Mr Pinder in a March 16, 2010, affidavit, Mr Hahne said that while employed as a senior analyst for project and facilities management with the Greater Toronto Airports Authority, he had developed a device called the EMD (Electro Muscular Disruption) Security Bracelet.

The EMD bracelet, which was for use in security, restraint and tracking, received a US patent, safeguarding its intellectual property (IP) rights, on August 23, 2005.

"In late 2007, I was contacted by James Griggs, a resident of the state of Georgia, on another matter, at which time we discussed the IP of the bracelet," Mr Hahne alleged.

"Mr Griggs indicated that his business partner, Chuck Harkey, would be interested in discussing the purchase of the IP. Shortly thereafter, I had a telephone call with Mr Harkey and his associate, Hubert Pinder. Mr Pinder identified himself in that conversation as president of Cavitation Concepts."

The parties, alleged Mr Hahne, agreed a partnership to develop the EMD bracelet. This ultimately morphed into an April 4, 2008, agreement where he sold the bracelet and its IP to Mr Pinder and Cavitation Concepts for $5 million.

Mr Hahne, though, alleges that even to this day, he has received not one cent of the $5 million, and that Mr Pinder and Cavitation have never fulfilled the agreement's obligations.

Asked by Tribune Business whether he had managed to collect on the $5.154 million default judgment, Mr Hahne replied: "No. To this date, Pinder refuses to acknowledge my legally obtained judgment. Our contract specifically stated all legal challenges be conducted in the Province of Ontario. Pinder did not show up as he knew what the outcome would be. Ultimately, he did hire a Toronto lawyer claiming he had never been served."

To disprove that, Tribune Business was shown a December 3, 2009, affidavit of service from Stanley Knowles, who testified that he served Mr Pinder with a copy of Mr Hahne's statement of claim on November 30, 2009, at his residence in Treasure Cove on Yamacraw Hill Road.

Still, according to Mr Hahne, several offers have been made by Mr Pinder to settle, with the "gem investments" central to the Robin Hood deal again seemingly wheeled out.

"Pinder, through his agent, offered me uncut emeralds from Brazil as settlement to my judgment against him personally," Mr Hahne alleged. "Pinder has used an agent named Chuck Harkey.... Through Harkey I have had numerous wild offerings, including uncut Brazilian emeralds. None of which he was ever been able to deliver on."

Mr Hahne also questioned whether Mr Pinder was in breach of US securities regulations by signing off on reports filed with the Securities & Exchange Commission (SEC) by his Prospero Group stating that the EMD bracelet technology had been acquired for $5 million.

Looking forward, Mr Hahne said the greatest personal impact was that his dealings with Mr Pinder had rendered the value of his IP virtually worthless.

"My IP no longer has a value as a result of Pinder having broadcast to the world he owns my IP," Mr Hahne told Tribune Business.

"At one point my IP was the 'Buzz' of the day in that all the major TV networks, CNN, ABC, NBC, CBS, FOX, and print, London Times, Washington Times, New York Times and many radio stations, covered my IP.

"Homeland Security and many law enforcement agencies, including the US Border Patrol, expressed an interest. I surmise it was this great interest shown by the many entities which had Pinder's interest. Regretfully, Pinder's public statements led to confusion as to ownership, the result of which has been my no longer being able to promote it."

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