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I hope he screams to the FBI or US - "Do you know who I am - I am a Billionaire and will have your jobs"
IG
When I told you about being passed along - I saw some bad Ju Ju.
Donald Steinberg - he might pump it but don't believe anything he says.
Here is an example:
"SecurCapital Holdings Corp. (OTC PINK:CQER) ("CQER" or the "Company") announces Cannabis industry veteran, Donald Steinberg, has founded Marijuana Strategic Ventures, Inc. to offer unprecedented opportunities for exponential upside with Cannabis mergers and strategic partnerships.
In 2009, Steinberg founded Medical Marijuana Inc., the first Marijuana company ever to be listed on a US stock exchange. In 2015, he founded Marijuana Company of America, and took it public."
"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."
IG
My experience is these shells bounce around between promoters - they never die.
If the right promoter gets control of the shell and Costello isn't a top drawer note holder - then it can rise again.
Just think of all OTC companies as Company X and disregard all of the hype - play the price action and always take profits.
As Warren Buffett said (possibly)
Rule #1 Never take Losses
Rule #2 Never Forget Rule #1.
IG
If the money Costello used to buy the DCGD shell was stolen, can he legally sell the control block to the new guy?
I-Glow what do you think of GRNF, will it be affected? Do you have any kind of relationship with COSTELO or is it an independent company? I see there is a symbol change and an R/S 1:20 for this month...
https://www.otcmarkets.com/otcapi/company/financial-report/347437/content
On May 25, 2022, the Company held a Special Meeting of the Board of Directors wherefore it was resolved to amend the Company’s
Articles of Incorporation to change the Company’s name from GRN Holding Corporation to Marijuana Inc.; and, File a FINRA
corporate action notification form to change the Company’s name and to obtain the new trading symbol; MAJI; and, wherefore it was
also resolved that the Board of Directors approved a resolution to effect a 1 for 20 reverse stock split with the belief that, among other
reasons that the reverse stock split may improve the price level of the Company's Common Stock and that the higher share price could
help generate interest in the Company among investors and other business opportunities. As of July 31, 2022, all of these actions are
still pending, however, the Company does anticipate that these actions will be completed during the fiscal quarter ending October 31,
2022.
NOTE 6 – COMMON STOCK
The Corporation is authorized to issue 750,000,000 Shares of Common Stock. As of July 31, 2022 and April 30, 2022, the Company
had 279,990,976 shares of common stock issued and outstanding.
On June 30, 2022, Donald Steinberg transferred his 144,000,000 Shares of Common Stock to Earth Onyx LLC, of which he is the
control person.
On July 1, 2022, the Company committed to issuing 50,000,000 Shares of Common Stock in exchange for consulting services.
Welp after all these years of Justin getting away with murder basically, you were right all along I-glow. I honestly hope that his wife gets charged to she aided and abetted his ass for years. Good work sir.
Khanman from the beginning
This will make you smile.
https://ibb.co/QCDxTD7
Looks like JC is finally getting the attention all these years.
https://www.cnbc.com/amp/2022/10/05/man-claimed-to-be-billionaire-harvard-mba-iraq-vet-in-financial-fraud.html
$GRNF. #GRNF BUSTED. CAPTURED JUSTIN COSTELLO https://t.co/U023fNuLzC
— anthony volentine (@nipomo357) October 5, 2022
They got him.
https://www.fbi.gov/wanted/wcc/justin-costello
Finally over for this con artist
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
It's great that the SEC is finally going after Costello. However, while I understand the SEC has limited resources and wants to present a complete case that can be won. I wish they would have stepped in prior to all the "lower" income retail investors losing their money, even with a minor fine.
No..he also is busted per last week's complaint
Think we can get BUX to comment.....
Hawk
thanks - but it is always a team investigation. One person finds something another doesn't but helps it all pull together.
Plus some have way more stamina to hang in there to warn new investors - something I can't do with every stock I look at. That has plenty of value.
I get frustrated with the length of time it takes for litigation - usually 3 to 4 years it seems. Much of the losses already occurred by then. But while the wheels of justice turn slowly - they are turning. Something that keeps me going.
Bux is a weasel. Cried like a baby said while sobbing..cAn weez make a deal? Pleeesase??
Thank you - Costello has really screwed up this time. He will be a very old limo driver when he gets out.
I am hoping Bux gets busted but he is probably a CI.
Thanks again
Yes..he also is busted in last week's sec complaint..he is Ferrari or something like that named in the complaint
Pretty sure they know. See what I hilited below
Costello indictment available as Exhibit A in document 159 of the CANN/CCSAC court case.
Interesting reading. By court order, and under penalty of perjury, Costello was required to state what of the marijuana company's money was held in PBC/GRN/Costello bank account(s) as of 9/9/2022. Costello claimed $2,923,858.13. The indictment states what was in the checking account as of 9/9 was $15.35.
It describes multiple coordinated misinformation pump and dump schemes coordinated by Costello involving DCGD/GRNF, RVDO/HPST, RMSL, CLSI, FTXP. He requested and paid for twitter pumping by an individual who's initials are given in the indictment. Hundreds of tweets were made, for which Costello paid the twitter pumper over $35,000. Others are mentioned by their initials, including one who was instructed by Costello to take a moderator position for RVDO on a "public message board."
He also defrauded public investors by touting his "GRN Holding" but selling them shares in his private Washington GRN Holding, not the Nevada publicly traded GRN Holding
Has anyone Doxxed Bux - if so the information needs to be sent to the FBI along with his post about the price going to $500.
Sam, this one is yours - you ferreted out he was a failed limo driver - his past lawsuits. Plus much more.
He should do really well with the US Marshall's tracking him down.
He could go to Russia or China - he should be safe there.
And remember - "They may also have a dog with them."
So much for a ROR Bond.
And the Federal Sentencing Guidelines looks like a minimum of 20 years for each count plus 3 counts of securities fraud.
If Costello thinks he can talk his way out and "takes it to the box" he will get 50 years or more.
The Feds have about a 95% conviction rate.
Sam you did an amazing job.
If on Jc, Bux, rose, Don ect could share a single small cell….. save the taxpayers money
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.
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