Accoona, the highly suspect New Jersey based search/electronics retailer, has suffered what might be its final disgrace - the closure of it’s last business, Twing.

The company, which offered a search product, has a rich history. Founder Marc Armand Rousso has a shady past involving stock fraud, and former President Bill Clinton was a spokesperson for the company.

Most of Accoona’s $137 million/year in revenue came from distributing electronics after buying a number of retailers in Brooklyn. In 2007 they canceled a planned IPO, and the Accoona search business was sold to Masterseek, a Danish company, last month.

The company said in April they were deprioritizing all of their businesses except Twing, a forum search engine. But the Twing website is now offline, and a tipster says the technology is being sold.

Twing, which appears to be a separate corporate entity from Accoona, was said to be pitching for a small round of financing in the last few months at a valuation of $8 million.

The service had a surge in traffic this last spring, drawing, according to Compete, a peak of about 1.5 million unique monthly visitors. But much (or all) of that traffic was driven by advertising spends, says a source, and they struggled to get repeat visitors.

We’ve contacted Accoona and Twing and await a response.

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