Not to be confused with the gadget blog Gizmodo, Gizmondo was a handheld gaming console manufactured by Tiger Electronics. The device's media playback, online capabilities, and built-in GPS made the console look quite cool on paper, but after its launch in 2005, it sold dismally and was quickly discontinued. The console can't have been helped by the media attention received by company executive Stefan Eriksson. Eriksson, who was known to Swedish police as Fat Stefan, had been convicted of counterfeiting about 20 million Swedish Kronor and, with the help of a bank employee, diverting more than $7 million, according to a report in the Los Angeles Times.
Eriksson was in the news again in 2006 when he crashed a million-dollar Ferrari Enzo going 120 mph on the Pacific Coast Highway. Amazingly the Swede made it out with only a cut lip. He was arrested later in 2006 on charges of embezzlement, grand theft auto, and weapons charges.
Now that is quite a rap sheet! Rumor has it the Gizmondo 2 will be released this year as a smart phone.
Image Credit: LA Times
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