Grapefruit USA Inc (GPFT)

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IGNG is VERY experienced in IGNG's true business

IGNG busted for fraud by the SEC hires an attorney busted for fraud by the SEC. Fitting

https://www.sec.gov/litigation/litreleases/lr15391.txt

Litigation Release No. 15391 / June 24, 1997

Securities and Exchange Commission v. Nicholas F. Coscia,
United States District Court, District of Nevada, Civil
Action No. CVS-97-0074-PMP (RLH)

https://www.linkedin.com/in/nicholas-f-coscia-esq-80583113

Corporate and Securities Counsel
Senior Staff Attorney
United States Securities & Exchange Comission
September 1979 – January 1984 (4 years 5 months)
SEC Enforcement Lawyer

Corporate and SEC Attorney
Nicholas F. Coscia, Esq.
April 1984 – Present (32 years 10 months)

http://law.justia.com/cases/california/supreme-court/4th/25/1194.html

n October 1993, plaintiff Nicholas F. Coscia, an attorney, was indicted by the federal government for securities fraud and related offenses. He retained defendants McKenna & Cuneo, L.L.P., and Juanita R. Brooks (hereafter sometimes McKenna & Cuneo) to represent him.

In December 1994, Coscia pleaded guilty in the United States District Court for the District of Nevada to one felony count of conspiracy to violate federal securities laws. He admitted his guilt under oath and confirmed that his plea and his waiver of certain constitutional rights were made freely and voluntarily. He answered affirmatively in response to the court's question whether he "in fact knowingly participate[d] in the conspiracy charged." At the court's request, he summarized his role with regard to the conspiracy by admitting that, with the intent of obtaining financial profit, he purchased securities of the subject corporation knowing that there would be a corporate reorganization of that entity. He also signed a statement of offense acknowledging his criminal conduct.

In March 1996, Coscia was sentenced to two years' probation and a $5,000 fine.

In March 1997, Coscia commenced the present malpractice action against McKenna & Cuneo, alleging that he was injured by the firm's negligent legal advice. McKenna & Cuneo demurred on the grounds that the action was barred by the statute of limitations and by collateral estoppel. The superior court sustained the demurrer without leave to amend, concluding that Coscia's criminal conviction precluded relief in the present action under principles of collateral estoppel. The court entered judgment in favor of McKenna & Cuneo.