Sep 292009
 
 September 29, 2009  Posted by  Business, Featured News, Surveillance, U.S.

Brad Stone reports:

Verified Identity Pass, a company founded by the entrepreneur Steven Brill, offered travelers a tempting proposition: pay up to $199 a year, submit to a fingerprint and iris scan, and skip to the front of interminable airport security lines.

But last June, the company left its roughly 200,000 paying customers stranded, saying that it was ceasing operations and did not have cash to offer refunds.

Now it appears those customers will get a break. Kurtis Fechtmeyer, an investment banker based in Emeryville, Calif., said on Tuesday that his new investment group, Henry Inc., had signed a letter of intent with Morgan Stanley, the defunct company’s largest debt holder, to buy its assets and reopen its fast-lane security service, called Clear.

Read the full story in the New York Times.

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