Sam Jain was the owner of eFront, which had quite a funny scandal a while back with the owner of SomethingAwful.com, Richard "Lowtax" Kyanka. After eFront failed to pay SA for ads served on the site (gee, I wonder where else that happened...cough...cough...GameFan), the SA Forum Goons launched a huge smear campaign against eFront, their evil staff, and the infamous Sam Jain. This resulted in the publication of the infamous Sam Jain ICQ logs.
To elaborate a bit on Sam Jain himself, he must not be too smart to have this happen to him, and besides, he had it coming. In case you were wondering, I'm pretty sure eFront went bankrupt, seeing as their website is gone, and I haven't heard anything about them since the incident.
You can find a hilarious spoof of this at http://www.somethingawful.com/samjain/index.htm
Sources: Me, SomethingAwful.com, me.