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He will end it all..taking the cowards way out..he and rose
Not really when you have a cult following like that GRNFAQ website that was set up by a shareholder that drew investors in.
https://web.archive.org/web/20190726223319/http://www.grnfaq.com/
https://web.archive.org/web/20211001000000*/GRNFAQ.com
and that wasn’t Computerbux David that set that up.
It’s amazing that this scum bag thought he could commit such blatant fraud in broad daylight and never face any consequences
Wow what happen here?
Can get it here, once someone buys it from here its now free. Someone bought it if you scroll down towards the end.
I know. So many of us knew. samsamsamiam led the way
SEC found out JC didn't have banking laisence
for his fake fund in only years...
run justin run!!! is a fugitive ! fbi wants his @$$
The #FBI in Seattle, WA, wants Justin Costello for his alleged involvement in several schemes, ultimately defrauding some businesses & thousands of investors of over $30 million. He may be with his wife, who is not a fugitive from the law, & their dog: https://t.co/85tQn0b2k2 pic.twitter.com/Xf4tnvXjel
— FBI Most Wanted (@FBIMostWanted) September 30, 2022
Justin Costello - wanted by FBI
https://www.fbi.gov/wanted/wcc/justin-costello
Oh ok thankyou
Need an account with PACER or one of the other court document providers to see it
Have a link? This needs to be shared...this is criminal
Justin is stupid
As of 9/27, judge appears to have finally lost patience with Costello's behavior
United States District Court
Northern District of California
UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF CALIFORNIA
CCSAC, INC., et al.,
Plaintiffs,
v.
PACIFIC BANKING CORP, et al.,
Defendants.
Case No. 20-cv-02102-JD
ORDER TO SHOW CAUSE
After reviewing defendants’ response to the Court’s inquiries about the status of plaintiffs’
funds, see Dkt. No. 151, the Court has serious concerns that defendants have not complied with
the preliminary injunction order. The injunction prohibited Pacific Banking Corp. (PBC), Justin
Costello, and GRN Funds, LLC, “and their officers, agents, servants, employees and attorneys,
and any other persons in active concert or participation with them,” from (i) “sing, drawing
down, transferring or in any way reducing the funds deposited with PBC by CCSAC, Inc. or
CANN Distributors, Inc. without their express consent;” and (ii) “[d]eleting, destroying, editing,
or in any way altering any records relating to plaintiffs’ deposits, including without limitation all
transaction and deposit balance records.” Dkt. No. 23 at 1.
Defendants were directed to file a declaration under penalty of perjury certifying
compliance with the preliminary injunction order. Dkt. No. 148 at 2. The declaration was to state
where the funds subject to the preliminary injunction order are located, including (i) the name and
address of the financial institution, (ii) the type of account being used, (iii) the full and exact
account number, and (iv) the balance of the funds as of September 9, 2022. Id.
The declaration defendants filed did not provide these basic facts. Among other shortfalls,
it did not identify the exact location or balance of plaintiffs’ funds. It says the funds are in an “aggregated account” with Sound Credit Union, and the balance is “at least $2,923,858.13 for
funds within that account that are attributable to Plaintiffs.” Dkt. No. 151 ¶¶ 3, 7 (emphasis
added). It says the approximately $1 million discrepancy between this number and the amount of
funds shown in the purported bank statements attached as exhibits is “the 2020 requested tax
payment at issue, which has yet to be reconciled.” Id. ¶ 7. This does not adequately describe the
location or balance of all of plaintiffs’ funds that were subject to the preliminary injunction order.
The declaration also raised questions about the genuineness of the bank statements
defendants attached as exhibits to the declaration. Defendants say the exhibits are “a true and
correct copy of PBC’s client-account portal statements.” Id. But when compared to similar
statements from January and February 2021 submitted by plaintiffs, it appears that defendants
removed the PBC letterhead. See Dkt. No. 152-1, Ex. A. Plaintiffs say the redacted account
numbers in the exhibits do not correspond with the account numbers disclosed by defendants’
counsel, and the phone number on the exhibits is not in service. Id. ¶ 2.
Defendants appear to have misrepresented that plaintiffs have access to the account
statements. The declaration says “[t]hroughout this action and including today, each Plaintiff has
access to this same portal, and this same information.” Dkt. No. 151 ¶ 7. Plaintiffs say that they
cannot access the portal, that defendants’ banking website is inactive, and that they have not
received any bank statements from defendants since 2021. Dkt. No. 153 ¶¶ 2-3.
Consequently, defendants are ordered to show cause why they should not be held in civil
contempt for violating the preliminary injunction order. An evidentiary hearing on defendants’
compliance is set for October 18, 2022, at 10:00 a.m. in Courtroom 11 of the San Francisco
courthouse. The Court expects that defendant Justin Costello will be prepared to testify on the
compliance measures defendants undertook. Defendants may call other witnesses as they wish,
and will disclose the identity and testimony areas of such witnesses to plaintiffs no later than
October 11, 2022. Plaintiffs will examine the witnesses first, followed by defendants. Each side
will file examination exhibits by October 11, 2022.
United States District Court
Northern District of California
IT IS SO ORDERED.
Dated: September 27, 2022
JAMES DONATO
United States District Judge
. Run Justin... Lol$GRNF. #GRNF. pic.twitter.com/32fIhE3q1y
— anthony volentine (@nipomo357) September 30, 2022
$GRNF. #grnf pic.twitter.com/GpvrJZaQuw
— anthony volentine (@nipomo357) September 30, 2022
U.S. Attorneys » Western District of Washington » News
Department of Justice
U.S. Attorney’s Office
Western District of Washington
FOR IMMEDIATE RELEASE
Thursday, September 29, 2022
Former Washington state resident indicted for defrauding investors and marijuana businesses
Lied about background, education, military service and stole from marijuana businesses through an entity allegedly providing them banking services
Seattle – A 42-year-old Las Vegas man, who previously lived in Bellevue, Washington, is facing a 25-count indictment charging him with wire fraud and securities fraud, announced U.S. Attorney Nick Brown. Justin Costello allegedly victimized marijuana business owners, private investors and investors who purchased stock over-the-counter. The Securities and Exchange Commission also filed a civil suit against Costello today.
“Mr. Costello allegedly told many tall tales to convince victims to invest millions of dollars -- money he then used for his own benefit,” said U.S. Attorney Nick Brown. “In a complex scheme involving shell companies, penny stocks, and financial services for marijuana businesses, Mr. Costello used Twitter, press releases, securities filings, and claims of great wealth to paint a picture of fabulous financial success. In truth that picture was a mirage.”
According to the indictment, in 2017 Costello owned and operated a company called Pacific Banking Corp that provided banking services to marijuana businesses in Washington, Colorado, California, Illinois, and Alaska. Between 2019 and 2021, Costello allegedly diverted money from three marijuana business to benefit himself and his companies. The diversions were contrary to the promises he had made to the marijuana businesses. The three marijuana businesses lost about $3.7 million.
As part of his scheme, Costello purchased two companies that were trading for pennies on the over-the-counter market and renamed them GRN Holding Corporation and Hempstract Inc. Costello also recruited investors in these companies, allegedly making numerous false statements about the size and success of his marijuana banking business. Costello told potential private investors several falsehoods – that he had an MBA from Harvard, that he had served in the military and had done two tours in Iraq and had been wounded twice, that he was a billionaire, that he had 14 years of experience on Wall Street and that GRN Funds LLC, a private equity and hedge fund he owned, had over $1 billion in assets under management. None of that is true.
With these falsehoods, Costello convinced various investors across the country to invest in his companies. One deceived couple provided Costello with more than $2 million for shares in companies that he controlled. Additionally, they opened a $4 million TD Ameritrade account at Costello’s direction and provided him with the passwords that allowed him to trade in their account. Costello allegedly used the account to purchase the penny stock of companies he controlled driving up the share price to enrich himself.
Costello used the same lies with other investors and allegedly used investor funds for his own expenses. For example, Costello used at least $42,000 of investor money for personal expenses include costs associated with his wedding. In all, some 29 investors invested directly with Costello and lost $6 million because they relied on Costello’s false representations.
In 2019, Costello’s entity GRN Funds, LLC purchased the outstanding shares of Discovery Gold Corp., changing the name to GRN Holding Corp. In SEC filings about the purchase Costello lied repeatedly about his background, education, and the financial success of the LLC. In various filings with the SEC, and in press releases, Costello lied about GRN Holding Corp’s possible acquisition of other companies and revenue – causing the share price to increase. From December 2019 and into January and February 2020, Costello directed others to issue ten press releases about acquiring other companies. None of the acquisitions occurred even though Costello controlled these other companies. Between July 2019 and May 2021, 7,500 investors lost about $25 million after purchasing and selling GRN Holding Corp stock.
Finally, between October 2019, and January 2021, Costello hired an unindicted coconspirator to use Twitter in a pump and dump stock scheme. Costello would acquire the penny stock of a company and then instruct his prolific Twitter user to tweet falsehoods about the company that would drive up the stock price. The coconspirator would tweet about the stock as often as 90 times a day. In one instance Costello didn’t just use Twitter, he also instructed some of his “investors” to purchase stock in the company, driving the share price from a nickel to $2 per share. After driving the share price up, Costello sold the shares for a profit of more than $355,000. The prolific Twitter user was given a share of Costello’s profits from the pump and dump scheme. In all Costello made $576,466 in the pump and dump scheme.
The charges contained in the indictment are only allegations. A person is presumed innocent unless and until he or she is proven guilty beyond a reasonable doubt in a court of law.
Wire fraud is punishable by up to 20 years in prison and fine of $250,000 or twice the gain the Costello or the loss to the victims of his offenses. Securities Fraud is punishable by up to 20 years in prison and a $5,000,000 fine.
The case was investigated by the FBI. If you have information, or believe you were a victim in this fraud, please email: CostelloFraud@fbi.gov.
The SEC conducted their own separate investigation.
The case is being prosecuted by Assistant United States Attorney Justin Arnold and Michael Dion.
costello_indictment.pdf
Attachment(s):
https://www.justice.gov/usao-wdwa/press-release/file/1539266/download
https://www.justice.gov/usao-wdwa/pr/former-washington-state-resident-indicted-defrauding-investors-and-marijuana-businesses
I hope he deprives us of true justice
Word is that he was supposed to turn himself in yesterday...has yet to do so.
Very Nice!! Hope the blow up Barbie gets her fair share too
Yes..bux will turn on them and snitch....he is a little weasel
(High five)….. wonderful news
It’s gonna be wonderful seeing all people involved get theirs:)
Me too...all trash
Whoever first squeals..get the best deals...marsha that dirty dog got kickbacks I'm sure as well as Donald dude trash
Yes, that was him. Looking forward to seeing criminal charges
That was the bux? He did tell us in private Costello offered him a job...probably as a pumper
Sec got constello and computerbux Ferraro:)
Trust the bux....lololozzzz
How is rose doing? Is George Sharp single? She likes big talkers?
Reverse split coming too
told this board two years ago that this guy was a fraud and the sec would catch him. I was bashed off the board back then.
Awesome$ that pig..that sow! Criminal trash..what of rose??
SEC Charges Man for Defrauding Investors out of Millions of Dollars by Posing as Hedge Fund Billionaire
Defendant presented himself as a special forces veteran and Harvard grad to gain investor trust
FOR IMMEDIATE RELEASE
2022-178
Washington D.C., Sept. 29, 2022 —
The Securities and Exchange Commission today charged Justin Costello for using a false persona, as a Harvard-educated military veteran and hedge fund billionaire, to defraud investors out of millions of dollars. The SEC also charged Costello and David Ferraro, an associate of Costello’s, for promoting the stock of several microcap companies on social media without disclosing their own simultaneous stock sales as market prices rose.
According to the SEC’s complaint, Costello portrayed himself to the public as a seasoned, licensed investment professional who was building a conglomerate in the cannabis industry. His alleged false representations included credentials as a Harvard MBA, experience managing a $1.15 billion hedge fund, and years of experience on Wall Street. As alleged in the complaint, Costello used these fabricated accomplishments to secure approximately $900,000 of investments in two different companies from more than 30 investors. As further alleged in the complaint, while acting as an investment adviser to a married couple, Costello sold the couple $1.8 million of shares in a penny stock at a markup of 9,000 percent over the price paid by Costello and used their $4 million brokerage account to trade, at a significant loss, securities of microcap companies in which Costello had an undisclosed financial interest.
The complaint also alleges that Costello and Ferraro engaged in various stock promotion schemes in which Costello acquired shares of penny stocks and then directed Ferraro to promote those stocks to Ferraro’s Twitter followers and the public. The complaint alleges that Ferraro posted hundreds of tweets to hype those stocks and did not disclose that Costello intended to sell his shares once the stock price increased or that Ferraro would receive a share of Costello’s profits. Through these alleged schemes, Costello and Ferraro together made approximately $792,000 in illicit trading profits.
“As we allege in the complaint, Costello brazenly used fictitious accomplishments to win over investors and directed numerous manipulative stock promotion campaigns,” said Sheldon L. Pollock, Associate Regional Director of the New York Regional Office. “This case highlights our ongoing efforts to protect investors from fraudsters posing as investment professionals and to safeguard the markets from social media schemes and other online fraud.”
The SEC’s complaint, filed in the Western District of Washington, charges Costello and Ferraro with violating the anti-fraud provisions of the federal securities laws. The complaint seeks permanent injunctive relief, disgorgement with prejudgment interest, and civil penalties. The SEC also seeks penny stock bars against Costello and Ferraro and an officer and director bar against Costello. In a parallel action, the U.S. Attorney’s Office for the Western District of Washington today announced criminal charges against Costello.
The SEC’s investigation was conducted by Jordan Baker, Samuel Kalar, and Tian Wen with assistance from Stanley Husband. It was supervised by Celeste Chase and Mr. Pollock, of the New York Regional Office. The litigation will be led by Pascale Guerrier of the New York Regional Office and Mr. Kalar and Ms. Wen. The SEC appreciates the assistance of the U.S. Attorney’s Office for the Western District of Washington, the Federal Bureau of Investigation, and the Financial Industry Regulatory Authority.
The SEC’s Office of Investor Education and Advocacy (OIEA) encourages investors to use the free resources on Investor.gov to check the background of anyone selling or offering investments.
https://www.sec.gov/litigation/complaints/2022/comp-pr2022-178.pdf
https://www.sec.gov/news/press-release/2022-178
GRNF almost as trashy as Justin Costello and his wife. Almost.
There was a pump..a trashbag pumping this. Saying 500.00 pps co.ming
Are you speaking of the new CEO, Steinberg or the previous CEO?
What do you base $500 on?
Donald Steinberg is another conman he was partners with HEMP - Bruce Perlowin and Don Steinberg.
Don Steinberg and Bruce Perlowin are convicted felons. They were busted for heading up a smuggling operation that smuggled tons of marijuana into the United States and Canada in the 1980s.
SEC Charges Hemp Inc. and CEO Bruce Perlowin with Fraud in 2016.
How Management Misled Investors When It Gained Control Of Medical Marijuana, Inc - MJNA.
Steinberg is a serial scammer but I am sure some will start trying to defend the guy.
These OTC share selling schemes are passed around from one scammer to the next.
IG
Is this the same Donald that was friends with Justin and had that Facebook pump page where fake dd by posters. Was going on by him and Marsha Croix?
Today's news shows how unprofessional they are, or maybe not serious enough to fact check. From the news today
He calls it: "GRN Holdings Corporation, Inc."
then later "About GRN Holdings Corporation"
The corporate name is GRN Holding Corporation
He says: "One of the first steps in support of the Companys new direction will be to file amended articles with the Secretary of State of Delaware"
The company is incorporated in Nevada
And what's a "The reserve split..."
lol
well....out of many things I pointed out, you are saying he is a "fall"guy, put there to take all Costello's sh..ty corrupt activities into his responsiblity?..he might be another crook is what you are saying?.., we need more info on that to just put this co and stock on alert to the SEC!
Split with that million $$ ?
Lol AS raise. CURRENT SHARES
Class/Series Type Share Number Value
Common 750,000,000 0.001
Wonder what happened to ex wife Katrina. Both Justin and Katrina fell off face of earth lol
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