Editing Phantom Entertainment (section)

===Financial problems===
The company was unable to raise its projected $30&nbsp;million to complete the Phantom and announced it would downsize and focus on the Phantom Lapboard, a [[wireless keyboard]] for home use. On May 16, 2006, the [[Securities and Exchange Commission]] accused Phantom Entertainment founder and former CEO Timothy Roberts of running a "[[pump and dump]]" scheme in promoting the Phantom console in 2004.<ref>{{cite news|first=Chris|last=Morris|url=https://money.cnn.com/2006/05/16/technology/infinium/index.htm|title='Phantom' video game CEO charged with pump and dump scheme|publisher=[[CNN|CNN/Money]]|date=May 16, 2006|access-date=May 17, 2006|archive-date=June 17, 2006|archive-url=https://web.archive.org/web/20060617191634/http://money.cnn.com/2006/05/16/technology/infinium/index.htm|url-status=live}}</ref> The Phantom lost credibility in the gaming and business worlds because its release date was continually pushed back, and because of financial scandals involving Phantom Entertainment (which lost more than $62.7 million since its creation).<ref name="gamespot">{{cite news | title=Infinium opens the books | publisher=GameSpot | date=February 21, 2006 | url=http://www.gamespot.com/news/6144631.html | first=Brendan | last=Sinclair | access-date=April 9, 2006 | archive-date=April 19, 2006 | archive-url=https://web.archive.org/web/20060419174924/http://www.gamespot.com/news/6144631.html | url-status=live }}</ref>