Fraud and Snoop Claims Put Cherry Creek IT Firm LucidPoint at Risk

Cherry Creek: An IT company called LucidPoint is in hot water. The two co-owners are at each other’s throats, and a judge might shut them down.

LucidPoint, located at 44 Cook St., provides cloud consulting and hardware services. It was started in 2017 by Mike Fontaine and Kevin Seba, who worked together at NetApp. Fontaine owns 51% of the company, while Seba has 49%.

Fontaine once shared how they left their stable jobs to start LucidPoint, which has grown significantly since then. But things took a turn last month when Seba filed a lawsuit claiming Fontaine is running a fraudulent scheme to benefit himself at the company’s expense.

Seba alleges that Fontaine’s scheme, humorously named “Greater Than Ezra,” is designed to inflate his salary and devalue Seba’s shares. Fontaine denies this and argues that his salary is still below market rates.

In the midst of this, Seba claims Fontaine has been accessing company systems illegally, even reducing Fontaine’s pay and spying on employees. The drama escalated when Seba served his lawsuit during a meeting Fontaine was having with potential clients.

Now, Fontaine is asking the court to remove Seba from the company, while Seba wants a receiver to shut down LucidPoint. A hearing is set for March 5, and both sides are gearing up for a legal battle.

Meanwhile, the band Better Than Ezra, which inspired the scheme’s name, is on tour but has no shows scheduled in Colorado.