Blue Biofuels Inc (BIOF)

[LTE]

ALLM board member (as of last year) is a defendant in a white collar criminal lawsuit:

<<November 17, 2016

Lawsuit alleges Palm House part of $50M criminal scheme

A lawsuit alleges that the Palm House condominium-hotel is at the center of a vast criminal scheme in which more than 50 foreign investors were defrauded out of $50 million.

The suit was filed Monday in federal court in West Palm Beach on behalf of more than 50 plaintiffs, all Chinese except for five Iranians. Among the 33 defendants are Palm Beach developer Robert Matthews and his wife, Mia Matthews; Gerry Matthews, who is Robert Matthews’ brother; Ryan Black; Joseph Walsh; Joseph Walsh Jr.; and Palm House attorney Leslie Evans and his Palm Beach law firm.>>

<<The suit contends that Joseph Walsh, who was a general partner of the Palm House until July, was “the criminal mastermind behind the Palm House fraudulent scheme, and organized all the players and their respective roles.”>>

http://www.palmbeachdailynews.com/news/lawsuit-alleges-palm-house-part-50m-criminal-scheme/HtTeI5FpIanYBMQ7AjnblJ/

Here's how we know he was a director last year:

<<March 21, 2016:

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Pursuant to the transaction detailed on Item 1.01, above, The Company’s Board of Directors appointed Joseph Walsh as a member of the Company’s Board of Directors to serve effective from March 17, 2016. In addition, certain shareholders of the Company, holding in excess of 5% of the issued and outstanding voting shares of the Company in the aggregate, agreed to vote in favor of the election of Mr. Walsh (or other designee of the Investors) during the term of the Agreement. The following is Mr. Walsh’s biography:

Joseph Walsh (65)

Joseph J. Walsh, Sr. has been a principal of United States Regional Economic Development Authority since its founding in February 2009. Throughout his career of more than thirty years he has managed and owned public and private corporations in the US, Canada and the UK. Mr. Walsh was formally trained as an Electrical Engineer, but started his career with successful ventures in the fields of Marketing and Advertising. In the late 1990s and early 2000s, Mr. Walsh founded several startup computer and graphics firms, and served as President and CEO for each company as he brought them to the public markets. He subsequently managed numerous successful mergers of public companies, and has accumulated extensive experience in merger and acquisition strategy as a result.>>

https://www.sec.gov/Archives/edgar/data/1549145/000120677416005043/alliance_8k.htm