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no no you misunderstood. YOU wont ever see a dime.
Of course. The slimes that ran the company will hide their assets and try to keep themselves hidden like rats.
All I know is that you wont ever see a dime back, not a dime.
LAZAR's LICENCE
Lazar has a despicable 6 customer disputes and one civil action. He also got fired from one firm for committing a crime against the Ohio Securities act, just read his securities license. He could not get hired at any brokerage firm on earth if he tried, that's why he started his own. If you look at the link below you will see it. If you don't this guy Lazar is bad news then he has been selling you a bunch of bad goods just like he did to his investors. Lazar is a professional lair.
JUST CLICK
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If you can't read the link. Go to NASDR.com or follow the below link and go to broker check. Lazar's CRD number is 4419542 His full name is Matthew Kenneth Lazar
JUST CLICK
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LAZAR... I don't think you have a clue what you are talking about. Lazar has Lawsuits all over Ohio. Just do a little research. This guy Alen Nugen sued Lazar for singing documents for an investment that he never told Lazar to make, basically Lazar stole his money. Also on Lazar's CRD (his investment license) he has a bunch of customer complaints for inappropriate recommendations, lying to customers and much more. I think something like 500 people worked for Envit and only two guys got in trouble, that's not a boiler room, that's a few bad apples, the SEC is dramatizing it. Lazar is a very bad guy, just look at his record and that's why the SEC is bringing him down. The SEC also went after Fraiman for lying to clients. Lazar and Fraiman were doing the lying not the company, that's why no other employees got into trouble, not one. Obviously the CEO got into trouble because all this lying happened under his watch. Read the complaint buddy and educate yourself. Lazar and Fraiman made the fake documents and made the false statement, NOT the company and that's why they are the only ones charged. What about all the other employees, all the so called boiler room guys. The SEC used a fake term like boiler room to make the story sound better. The real story is from reading the complaint and not the headline. The complaint says that Lazar and Fraiman received a lot of commissions and how they received those commissions was by lying to clients and they are getting in trouble for it now. Fraiman and Lazar ruined it for everyone and all the shareholders. The CEO is just to blame, he should have fired Lazar and Fraiman right away.
BY THE WAY....The company has not released any information because I am sure they are under a gag order by the SEC. They can't release anything.
Apparently, the SEC would not see it your way. Envit was a boiler room that misled investors all the way. Phony financials, notes regarding the accounting firm that wasn't accounting, and NEVER, EVER, a report to shareholders as to what happened to the money. What happened to the money? "It was spent on attorney fees" is not a report to shareholders as to what happened to the money. An accounting of what happened to the money might very well have appeased the shareholders by letting them know EXACTLY where the money went... not innuendos about it. WHERE DID THE MONEY GO??? And, they took Lazar down with them.
Bernard Berry: remember something in life... everything can always be worked out. This company was growing and getting bigger everyday, from what I saw from the outside. And your investment would have paid off in time.
Instead of hanging in their with the rest of the 150 shareholders you thought that the best course of action was to call the SEC but all that did was sink the ship you had all your money into. You ruined it for all 150 shareholder, yourself, and lost us all money. You and Lazar are fools. I hope you read this message from one shareholder to another.
Thank you....haha. You wont see a dime. All that happened is that the the SEC has insured that NO ONE will ever get any money.... EVER. If the company was up and running then at least there would be a chance for investors to sell their stock. Now the company is De-listed and has not operated in 3 years. I am sure that any little money that was left 3 yrs ago when they closed has been all spent in the 3 year legal battle against the SEC. It sucks. Everyone's investment is gone. I wish that the few idiots that had called the SEC to tried to recoup their losses would have not done so. The complaint said that Envit had over 150 investors. The few investors that thought that the SEC would actual help them just hurt themselves and everyone else. Even that idiot LAZAR got in trouble, he was one of the idiots that actually called the SEC and he ends up getting into trouble (he posted on this board)... what an idiot. Well it's all over now, kiss that money goodby because YOU WILL NEVER SEE A DIME. If you get a penny I would be surprised.
THANK YOU!!!
I can hardly wait for the reply from some of the insiders that turned out to be crooks. Ed Laborio and Jonathan Fraimam, finally get to see some justice applied.
I wish I had my money, though!
U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 22444 / August 10, 2012
Securities and Exchange Commission v. Edward M. Laborio, Jonathan Fraiman, Matthew K. Lazar, Envit Capital, LLC, Envit Capital Group, Inc., Envit Capital Holdings, Inc., Envit Capital Private Wealth Management, LLC, Envit Capital Multi Strategy Mixed Investment Fund I LP, Aetius Group PLC, and Aetius Group LLC, 1:12-cv-11489-MBB (District of Massachusetts, Complaint filed August 10, 2012)
SEC Charges Participants in $5 Million Boiler Room Scheme
The Securities and Exchange Commission announced today that it has charged Edward M. Laborio and others for their roles in a boiler room scheme that used high-pressure sales tactics to raise up to $5.7 million from approximately 150 investors through the fraudulent sale of five unregistered securities offerings involving a group of related entities. The scheme ran from approximately December 2006 to August 2009. Laborio, formerly of Boston, Massachusetts, is now a resident of Boca Raton, Florida. The SEC also charged Jonathan Fraiman of Lantana, Florida; Matthew K. Lazar of Westerville, Ohio; and seven entities controlled by Laborio: Envit Capital Group, Inc. (“Envit Group”); Envit Capital, LLC (“Envit LLC”); Envit Capital Holdings, Inc. (“Envit Holdings”); Envit Capital Private Wealth Management, LLC (“Envit Wealth”); Envit Capital Multi Strategy Mixed Investment Fund I LP (“Envit Fund”); Aetius Group PLC (“Aetius PLC”); and Aetius Group LLC (“Aetius LLC”) (collectively, the “Envit Companies”).
According to the Commission’s complaint, filed in the United States District Court for the District of Massachusetts, Laborio and Fraiman made multiple misrepresentations and misleading statements to investors about the Envit Companies’ businesses, revenues, financial projections, uses of investor funds, and historical returns generated by Envit Fund, a purported hedge fund that in reality never conducted any operations. According to the complaint, Laborio also created scripts with sales pitches containing fabricated information. For example, one of Laborio’s scripts allegedly included unfounded claims that investors would receive quarterly dividends and “2-3x return on money.” Laborio also allegedly used investor proceeds to cover gambling losses, to make direct payments to himself, and to cover personal expenses. Fraiman allegedly represented to an investor that Envit Fund, the purported hedge fund, returned 42.9% in 2006 and 43.7% in 2007, even though the hedge fund was not launched until mid-2007 and never conducted any operations. The complaint further alleges that Lazar raised $585,000 from approximately 10 investors through the sale of a PIPE (private investment in public equity) in Envit Group (one of the five unregistered securities offerings) by misrepresenting that the PIPE guaranteed an annual 8.5% dividend, and that it was safe, like a fixed annuity or a CD.
As a result of the conduct described in the complaint, the Commission alleges that all defendants violated Section 17(a) of the Securities Act of 1933 (“Securities Act”) and Section 10(b) of the Securities Exchange Act of 1934 (“Exchange Act”) and Rule 10b-5 thereunder; that Laborio, Fraiman, Lazar and Envit Wealth violated Sections 206(1) and 206(2) of the Investment Advisers Act of 1940 (“Advisers Act”); that Laborio, Fraiman, and Envit Wealth violated Advisers Act Section 206(4) and Rule 206(4)-8 thereunder; that Laborio, Fraiman, and Lazar violated Exchange Act Section 15(a)(1); that Laborio, Envit LLC, Envit Group, Envit Holdings, and Aetius PLC violated Securities Act Sections 5(a) and 5(c); that Laborio violated Exchange Act Section 16(a) and Rule 16a-3 thereunder; and that Envit Fund and Aetius LLC violated Section 7(a) of the Investment Company Act of 1940. The SEC seeks in its action permanent injunctions, disgorgement plus prejudgment interest, civil penalties, penny stock bars against Laborio, Fraiman, and Lazar, and an officer and director bar against Laborio.
The Commission previously suspended trading in the securities of Envit Group in May 2009 and subsequently revoked the registration of the securities of Envit Group in September 2009.
In conducting its investigation, the Commission acknowledges assistance from the U.S. Attorney’s Office for the District of Massachusetts, the Federal Bureau of Investigation, and the State of Florida Office of Financial Regulation.
For further information, see Exchange Act Release No. 34-59900 (May 12, 2009) [Order suspending trading in Envit Group securities]; Initial Decision Release No. 385 (August 13, 2009) [Initial decision revoking registration of Envit Group securities]; Exchange Act Release No. 60658 (September 11, 2009) [Notice of final decision revoking registration of Envit Group securities].
Is anyone still looking? Did everybody give up?
Geez! Quit deleting my posts. How is anybody going to use this forum if you keep deleting posts?
Boy, it would have been great if the COMPANY had been decent enough to tell this story to the shareholders. Unfortunately, we are still in the dark. What you say is hearsay... unless you KNOW something that the other shareholders don't know????
BERNARD BERRY information.... if you have any information about this guy let me know and we will pate it in the IBOX above. Take a look.
It was a pink sheet company, they did not need auditors, they did not have them. You will have to get a court order to get them but the company has been out of business for 3 years, they are 99% most likely at the local dump (trash heap).
Bernard B must have had a reason to request an investigation into Envit. I suspect that something fishy was going on with his big investment. At least he suspected such. I wonder why so much money had to be spent to defend the company from regulators.
Does anybody know the company Auditors, I ask again???
Bernard Berry the moron, read the story about him below. It's a true story but who cares. The company is closed for 3 years now. Every USA regulatory organization has looked into the books of the company and have come away with zero sanctions against the company.....THE END!!!!!!! It's over, said and done. Thanks to that idiot Bernard Berry.
I'm so interested in this moron Bernard Berry I started calling Irish newspapers about him to find out more about him. This one big newspaper in Dublin wants to do a story on him and what a idiot he is. I am in contact with the old executives of envit to find out more about him. If anyone has anymore info please post it on this board. I want to turn this board into a Bernard Berry message board so I can write a good article and get it published in a Irish newspaper.
Since you don't remember the story I'll tell it. BERNARD BERRY who was the largest shareholder in Envit, idiotically, made a complaint to the regulatory bodies about the Company. This complaint sparked an investigation (as does every complaint). Envit being on a limited budget spent all of their operating capital on Lawyers defending the company, employees, other shareholders and executives. Envit and their Lawyers were successful, no fines or sanctions have ever been placed on the Company or their employees and management…… however as a result of a limited operating budget, the money they spent on Legal fees put the Company in a negative cash position, resulting in the Company having to CLOSE. The Company has been closed for 3 years. THE END
Can you imagine what an idiot this guy BERNARD BERRY is. He makes the largest investment in the Company, he then forces an investigation against the Company he invested in and the Company has to use the money he invested to defend itself against his own complaint. The Company uses all of the Money and has to close. If that is not the most brain dead business move I ever heard of then I don't know what would be.
Does anyone know who the company accountants were? I would like to trail the money to see if ANY of that is true.
Since you don't remember the story I'll tell it. BERNARD BERRY who was the largest shareholder in Envit, idiotically, made a complaint to the regulatory bodies about the Company. This complaint sparked an investigation (as does every complaint). Envit being on a limited budget spent all of their operating capital on Lawyers defending the company, employees, other shareholders and executives. Envit and their Lawyers were successful, no fines or sanctions have ever been placed on the Company or their employees and management…… however as a result of a limited operating budget, the money they spent on Legal fees put the Company in a negative cash position, resulting in the Company having to CLOSE. The Company has been closed for 3 years. THE END
Can you imagine what an idiot this guy BERNARD BERRY is. He makes the largest investment in the Company, he then forces an investigation against the Company he invested in and the Company has to use the money he invested to defend itself against his own complaint. The Company uses all of the Money and has to close. If that is not the most brain dead business move I ever heard of then I don't know what would be.
2 months and no posts? Don't we at least need an accounting from the company? The officers and directors should give us the full story of where the funds went, don't you think????
Ed is a great salesman, but that does not necessarily translate to great hedge fund manager... but it might help.
Hi Wallstreetmav, first and foremost I am hooked to this board! I agree with you and realize Envit is not going to come back and people are not going to get their money back. That is obvious! I'm curious if you have spoken to Ed, and if so does he have any desire to start another Hedge Fund? Also, if he does want to start another Hedge fund would he keep it private this time around?
So, I wonder why you are here.
Envit Capital Group, Inc., is closed, it is gone, the company is de-listed. It's over, it's never coming back, any investment made in Envit or ECGP is worthless from now till the end of time. Who did I get that information from, former executives from Envit. If you or anyone wants more information then you will have to get it from them. Most people would agree that what you are doing is useless. Your looking for information about Envit on an anonymous web site message board, were anything and I mean anything can be posted, true or false with no ramifications or support to back any claims up. So even if you do get answers to your questions they may not be true anyways. If you want information about Envit or an Envit investment I would suggest doing the logical thing of calling your old contact on their cell phone or email. I will not give out any more information than that so please don't ask. Don't ask me to post phone number or email address because it is against the rules of this web site. The bottom line is that if you want information about Envit call old Envit employees not the message board on the internet. People are sick of you looking for information on message boards when you can just write an email or make a call and get direct facts from former executives of Envit instead of searching for information off this site that may or may not be true. For what it's worth I think your on this site because you cant call the old employees of Envit and this is your last and only way of getting information on your investment of which you WILL NEVER GET BACK!!!!! This message board is s waste of your time, make a call or write an email directly to the source because any question you ask on this board from now on will be answered with that remark!!!!!!
The questions are not necessarily directed at the moderator, but the moderator seems to be defending something. So, anybody: if ENVIT is gone, where does the information come from.
Are you kidding me with these questions?
If there is no Envit, how can they be the source????
THE SOURCE IS ENVIT CAPITAL GROUP, INC., can't get any better of a source than that!!!!!!!!!!!!!!!!!!!!
Is this supposed to be new news? What is the source?
The Company Envit Capital Group, Inc., (Pinksheeets: ECGP) formally headquartered in Boston, MA with offices in Boca Florida, Texas, Ohio and New York has been de-listed from the Pink Sheets Stock Exchange and is no longer trading. Envit Capital Group, Inc., has ceased operations and has not reported doing business since it was de-listed.
There is no information about Envit Capital Group, Inc., or any information provided publicly if the Company intends on continuing with previous business operations. As of 09/05/2011, current indications are that the Company DOES NOT intend on any continued business operations.
Well, I don't know. What did he do to blow it up? I thought I heard that a bad investment in oil futures put Envit belly up.
OK, so what did this Berry guy do to blow up Envit? Why would he if he had so much money invested???
Well he was the founder so yes but I was talking about non-insiders. The guy Berry Blew the deal up. I don't know about all the details but I do know he invested a ton of money and he will never never never see a dime out of Envit for what he did!!!
I don't know about him or any Irish shareholders. How could he have blew up the whole deal? And, I thought Ed Laborio was BY FAR the largest shareholder.
Alright whatever.... on another note what do you know about the Irish Guy Berry that blew up the Company. The rumor is that he was the largest shareholder and he was the one that blew up his own deal. Talk about a retard, he tops the list in my book.
DUH! EVERYBODY else gets diluted, too, so what is the advantage?
In fact, I think Envit would be at a disadvantage just because they are Envit... and have a lot of baggage.
they would do a RS and issue more shares , in turn diluting the irish
Rib World! That's right. They were Irish, I believe. However, a reverse split would only give each investor less stock, not less ownership... and make each owners portion less worthless than just plain worthless.
I believe that at one point Envit had some kind of deal with an Irish business, which might have brought in some buying from Ireland. A further reverse split now would have the effect of blowing those that bought back then (including some Irish buying per familiarity with the business involved?) out of any meaningful ownership stake.
My level of confusion still exists. Why are Irish shareholders any different than German, American, Dutch, or???? How many Irish shareholders could there be, anyway? Or German, Dutch, etc. I suspect almost all shareholders were American, but I have no real clue.
they are very bad news
The reverse split it understood, but what does that have to do with Irish shareholders???
They are doing a name change to shed the Envit Name. Then they are doing a 100,000 to 1 RS, meaning that any shares owned would be reduced by 100,000 times.
The Rainmaker - "Buy a ticket, find a seat, buckle up, wait for the launch codes from Mission Control".....just looking at old post from when Laborio took over Envit. Man I would love to see Ed bring this company back from the dead. I mean the guy won't give up the domain name for Envit Capital?!
last i heard this weekend they have decided to do a 100,000-1 reverse split and then change the name to get rid of all the Irish shareholders.
Still no ticker symbol for the "new Envit?"
Ithica- I definitely agree Ed and the other guys were strong at persuading people, but again your not going to run a successful hedge fund with just brokers. You need strong traders and analyst. (I hope you realize this ED) Did he have those type of guys when you were working there? The time I was at Envit he basically was doing everything himself. Definitely agree the market timing was poor and their business ethics lacked. I only wish the best for Ed....seemed like a good guy. Hope he can get a good team together this time around if he is actually trying to start Envit up again. One last thing why does Ed want to take this hedge fund public why not just keep it private?
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