Progressive Care Inc (RXMD)

[6pack2go]

Excellent DD !!!

Seems that the great RXMD team is comprised of or surrounded by some pretty shady characters:

- Armen Karapetyan (Business Development) - Life time ban from FINRA

For more than three years, Basis, its owner and CEO, Karapetyan, and one of its registered representatives, Goldfine, repeatedly violated FINRA and SEC securities rules and regulations in selling four private placement offerings involving highly suspect and financially struggling issuers. The pattern of violations across these offerings included both material misrepresentations and omissions.

Karapetyan failed to disclose numerous material facts to investors solicited in the Pharmco offering that should have been disclosed

http://disciplinaryactions.finra.org/Search/SearchResult


- John Fife (CEO of Chicago Ventures Partners - RXMD lender)

John M. Fife ("Fife") and Clarion Management,
LLC ("Clarion Management") (collectively, "Defendants") engaged in a fraudulent scheme to, purchase variable annuity contracts issued by the Lincoln National Life Insurance Company ("Lincoln") in order to engage in "market timing" in mutual funds for the benefit of Clarion Capital, LP ("Clarion Capital").

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=124348340



- Jeffrey G. Klein (Attorney for RXMD)

U.S. Attorney William J. Hochul, Jr. announced today that a
federal grand jury in Buffalo has returned a 40-count Indictment charging 12 people with participating in a large scale, international stock boiler room scheme.

All of the defendants are charged with conspiracy to commit wire fraud, which carries a maximum penalty of 20 years in prison, a fine of $250,000 or both. Jones,Romasko, Foland, and Klein are also charged with wire fraud, which carries a maximum penalty of 20 years in prison, a fine of $250,000 or both and conspiracy to launder money, which carries a maximum sentence of 10 years.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=125296084


Wow, if that's not something to consider when investing......