Stephen R. Brown

Stephen R. Brown is a financial service professional who resides in Cedarhurst, New York. He was the CFO of IDT Corp from 1995 to 2006, and again from 2007 to 2012.
Life & career
He was the CFO of IDT Corp from 1995 to 2006, and again from 2007 to 2012. In April 2019, about the time of the indictment and fraud charges, Stephen Brown resigned from the IDW board, where he was serving as the Vice Chairman. There was no public announcement of his resignation at that time or since. This is in contrast to when he joined the IDW board. Steve had been the CFO of Nanovibronix since October 5, 2020, he previously served in that same position from February 3, 2015, through April 30, 2019.
Criminal cases
Stephen has been the subject of criminal and civil actions in the both the State of NY and the State of Arizona.
Menaged case
On April 2, 2019, Brown was indicted, in the United States District Court for the District of Arizona on one count of conspiracy to commit bank fraud, and two counts of fraud. His indicted co-conspirator in this case, was Joseph Menaged, the father of reality TV star, Yomtov Scott Menaged. Menaged's case was featured on American Greed in 2019, Yomtov was indicted on 24 charges and sentenced to 17 years in prison.
Cardis case
On December 21, 2018, the People of the State of NY brought a civil action action against Stephen Brown, amongst others, for drafting and sending “investor update letters, which contained a host of false statements and omissions” for Cardis NV. Investors in Cardis lost over $30 million.

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