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Details for the initial case against Jeff. This only shows the case with the B&D PPP loans. Both, the initial PPP loan pulled and the second one attempted under B&D.
https://www.hselaw.com/files/PPP/119/Complaint_-_J_Bearden_-_21-mj-2669_-_2021.09.22.pdf
Still waiting to see the case(s) against Jeff with the PPP loans pulled under SNGY and Acembly.
Details for the initial case against Jeff. This only shows the case with the B&D PPP loans. Both, the initial PPP loan pulled and the second one attempted under B&D.
https://www.hselaw.com/files/PPP/119/Complaint_-_J_Bearden_-_21-mj-2669_-_2021.09.22.pdf
Still waiting to see the case(s) against Jeff with the PPP loans pulled under SNGY and Acembly.
Just going through some stuff and found something new. Anyone have any information on this new "consultant" listed for SNGY?
https://www.otcmarkets.com/stock/SNGY/profile
Company Officers & Contacts
Jeff Dwight Bearden - CEO
Jorge Schcolnik - Consultant
Would we be looking at Jorge Schcolnik being this person? https://www.linkedin.com/in/jorge-schcolnik-675a8a107
Profile Data
Incorporation Information - NV, USA, 2008
Employees - 3 as of 04/02/2020
Shell - Yes
Products and Services
Information Technology Services and Application Holding Company
Company Facilities
Shared Facilities Location
Synrgy Corp.
704 Forest Glen Road
Silver Spring, MD 20901
Principal Executive Offices:
704 Forest Glen Road
Silver Spring, MD 20901
www.synrgycorp.com
240-527-1832
info@synrgycorp.com
Also other new info posted that may be of interest
Letter filed by lawyer for SNGY on September 30th 2021: https://www.otcmarkets.com/otcapi/company/financial-report/305298/content
Last official filing: https://www.otcmarkets.com/otcapi/company/financial-report/304286/content
"On June 25, 2020, the Company acquired control on Acembly, Inc., becoming a company's subsidiary"
The below info chunk from filing proves the Jorge Schcolnik connection at the top section of this post.
"B. The financial statements for this reporting period were prepared by (name of individual)4:
Name: Jorge Schcolnik
Consultia, LLC
210 174th St., Suite 1809, Sunny Isles Beach, FL 33160
Phone: (305) 401-7366
Email: jorge@consultiausa.com
Title: Non-certified accountant
Relationship to Issuer: Non-certified accountant"
The following shows bankruptcy for both SNGY and Acembly company bought:
"Due to certain information gathered from calls and others, management understand that the Acembly Inc.,
transaction is affected by several facts, requiring further investigation, reason to which the Company eliminated
assets and liabilities related to Acembly Inc., from the financials, until all the observed and doubtful statements
are properly clarified, either in Patrick Kennedy, Michael Asadoorian and Exirsoft Thechnology filed a lawsuit
against Synrgy Corp. and Acembly, Inc., among others, in theUnited States District Court for the Central District
of California, styled Patrick Kennedy, et.al. v. Jeff Bearden, et al., Case No. 2:20-cv-11483-SVW-MAA (the
“Litigation”), or Synrgy, Inc. and Acembly, Inc. filed for Chapter 11 bankruptcy protection in the bankruptcy
court for the Central District of California, in the matters of In re: Acembly,Inc., Central District of California
Case No.: 2:21-bk-16465-WB and In re: Synrgy Corp. Central District of California Case No.: 2:21-bk-16469-
WB. Both bankruptcy filings will be jointly administered with Case No.: 2:21-bk-16465-WB as the lead case.""
No additional facts/news on the matter.
At this time, there has been motion submitted to unseal the case back on 9/23 that are finally in the case log. But I am unable to see the details. Anyone else able to?
5 MOTION to Unseal Case by USA as to Jeffrey Bearden. (kmts, Deputy Clerk)
6 ORDER granting5 Motion to Unseal Case as to Jeffrey Bearden (1). Signed by Magistrate Judge Thomas M. DiGirolamo on 9/23/2021. (kmts, Deputy Clerk)
https://www.pacermonitor.com/public/case/41978686/USA_v_JEFFREY_BEARDEN
Also, there is no new case logs on Jeff's other case with former Acembly owners.
https://www.docketbird.com/court-cases/Kennedy-et-al-v-Bearden-et-al/cacd-2:2020-cv-11483
So, there will probably be a long wait till we hear the outcome of this story.
The official Federal Government case against Jeff.
https://www.pacermonitor.com/public/case/41978686/USA_v_JEFFREY_BEARDEN
The official Federal Government case against Jeff. Would love to read what is sealed in that.
https://www.pacermonitor.com/public/case/41978686/USA_v_JEFFREY_BEARDEN
Federal legal case against Jeff and his companies in question
https://www.justice.gov/usao-md/pr/hagerstown-man-facing-federal-charges-allegedly-falsifying-documents-order-obtain-covid
Because of the above federal case, Jeff's Synrgy, B&D, Acembly legal case has been put on hold.
https://www.docketbird.com/court-cases/Kennedy-et-al-v-Bearden-et-al/cacd-2:2020-cv-11483
powerbattles -> It would be great if that was the case here. But considering Jeff's currently legal issues and the current state of ACCA, I do not think there is any hope here at all. If you have anything that points to other outcomes, I am all ears.
Jeff has at minimum of 4 different counts of false PPP loan submissions against him/his companies. Each carrying a "30 years behind bars" sentence, it is safe to say that this will just fade away into the fail bin of history.
Considering the number of employees called out in the PPP loans, for which we never found one single person actually working under B&D or SYNRGY (except for Jeff himself), this looks to be a slam dunk case for the government.
Also, we have not found any other partner(s) for ACCA or any of the other companies. Not sure ACCA or any of the other companies are able to do anything if no one around to run them.
With SEC taking ACCA into the "expert" market, I believe Jeff lost his final chance to sell the ACCA shell. But then again, with the government in the picture now, they may have taken control of all of Jeff's assets and he cant touch them.
https://www.justice.gov/usao-md/pr/hagerstown-man-facing-federal-charges-allegedly-falsifying-documents-order-obtain-covid
buccaneer1961 -> So it looks like a big issue has/is happening with Jeff's lawyer. "Attorney Michael B Wilson terminated". Wonder if it has to do with health issues or the federal case against Jeff. Whatever it is, seems pretty serious if plaintiffs are willing to pump the breaks and put the case on hold. But definitely not good for Jeff/B&D/Synrgy/Acembly.
"MINUTES OF HEARING re ALTER EGO held before Judge Stephen V. Wilson re: [75] EX PARTE APPLICATION to Stay Case. Attorneys state their appearances. The Court stays the case, and moves it to the inactive calendar. Plaintiff's counsel shall notify the Court, in writing, when the matter should be restored to the active calendar. Attorney Michael B. Wilson is relieved as counsel of record. He is ordered to advise his former clients separately that when the matter is restored to the Court's active calendar, they will need to retain new counsel. Case stayed. Attorney Michael B Wilson terminated. (Made JS-6. Case Terminated.) Court Reporter: Katie Thibodeaux. (mrgo)"
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=166188640
As expected, Jeff is trying to put the court case on hold so that he may focus all of his efforts on his Federal Case over the illegal use of PPP loans.
Yankee2 -> While it is a surprise to see the SNGY movement, I do believe there is alternative motive as to why that is happening. Either because Jeff is trying to save the money he lent to SNGY, because of the court case, and/or someone else involved in SNGY background.
https://www.otcmarkets.com/stock/ACCA/overview
Looking at the link above, you can clearly see how ACCA stands and will likely stand until the end of time. Very sad. Would have been best for everyone to have sold the shell off.
I do not understand the options of coming back from an "expert" market status. maybe someone more knowledgeable like PhenixBleu could give an answer. But considering the federal case against Jeff, lack of working capital, and lack of companies producing anything, I am really against the idea of ACCA doing anything.
mark5050 -> Yea, as figured, Jeff wants to put a hold on the case until his Federal issue is over.
Not a problem PhenixBleu. Hopefully others can use the info to learn from as I am.
After going through the fillings made by Jeff/SNGY recently, I feel like there may be more trouble ahead for Jeff. I wonder if SEC would take issue with falsified reports (even with stuff as simple as physical address). But it also puts a lot more out onto the table for the plaintiffs to see behind the curtains with the Acembly court case that Jeff has going. With time we shall see.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=166133666
Looking into the filings a bit, some things pop out.
Note #1: The following "contact" info was on the filing.
Disclosure Statement Pursuant to the Pink Basic Disclosure Guidelines
SYNRGY CORP.
108 Western Maryland Parkway - Hagerstown, MD 21740
(240) 288-1500
www.synrgycorp.com
info@synrgycorp.com
SIC Code: 7371
Note #2: The website above is actually online, But clearly a cookie cutter starter site with no real info. Not even contact info.
Note #3: The address listed does not make sense as the building/address is under receiver sale due to Jeff/B&D's financial issues.
https://www.loopnet.com/Listing/108-Western-Maryland-Pky-Hagerstown-MD/18898813/
Note #4: The phone number lines up with Jeff's number from previous filings and news articles.
https://www.globenewswire.com/news-release/2019/01/24/1705258/0/en/Yaboo-Inc-YBIN-Announces-That-Jeff-Bearden-Has-Been-Appointed-as-Officer-and-Director-of-Yaboo.html
Note #5: Confirmation of Acembly with SNGY. But is SNGY being built out as a holding firm? Or is still waiting to do a reverse merger at a later date with Acembly?
"On June 25, 2020, the Company acquired control on Acembly, Inc., becoming a company's subsidiary."
Note #6: Share structure.
Total shares authorized: 500,000,000 as of date: 06/30/2021
Total shares outstanding: 107,478,000 as of date: 06/30/2021
Number of shares in the Public Float2: 20,224 as of date: 06/30/2021
Total number of shareholders of record: 76 as of date: 06/30/2021
Note #7: Current liabilities: $662,483 and Total liabilities and shareholders’ equity (deficit) $5,079,014
Note #8: Shares pending 4,950,000
Note #9: Common Stock 500,000,000 authorized at par value $0.001, issued and outstanding 107,478,000 and 107,478,000 as of June 30, 2021, and December 31, 2020, respectively
Note #10: "The total number of shares of all classes which the Corporation has authority to issue is 600,000,000 of which 500,000,000 shares shall be designated as "Common Stock" with a par value of $0.001 per share, and 100,000,000 shares shall be designated as Preferred Stock" with a par value of $0.001 per share."
Note #11: Section 1: Designation, Amount and Par Value.: This series of preferred stock shall be designated as this Corporation’s Series A Preferred Stock (the “Series A Stock”) and the number of shares so designated shall be up to 30,000,000. Each share of Series A Preferred Stock shall have a par value of $.001 per share and a stated value equal to $.001.
Section 2: Dividends: The Holders of outstanding Series A Preferred Stock shall be entitled to receive 20 times the dividends per share for Series A Stock as are paid for each share of the Corporation’s common stock.
Note #12: "The Company has no Property and equipment as of June 30, 2021"
Note #13: Accounts Payable
Patrick Kennedy 2 payments of $75,000 (second payment due 06/30/22)
Michael Asadoorian 2 payments of $25,000 (second payment due 06/30/22)
Note #14: Related Parties Loans (none of these have been paid back from SNGY yet). How does the B&D Consulting loans work with the PPP investigation against Jeff?
Jeff Bearden loaned $388,833 on 06/25/20.
B&D Consulting loaned $42,650 on 07/31/20
B&D Consulting additionally loaned $31,000 on 08/31/20
Synrgy Corp loaned $25,105 on 01/08/21
Note #15: "The Company had $ 0 and $108,996 revenues for the periods ended on June 30, 2021, and December 31, 2020"
Note #16: EQUITY.
On March 1, 2018, the Company issued 20 shares of common stock to Goldman Sachs Execution.
On March 2, 2018, the Company issued 2,980 to TD Ameritrade Clearing, Inc.
On March 13, 2018, the Company issued 10 shares of common stock to Merrill Lynch Pierce Fenner.
On March 16, 2018, the Company issued 990 shares of common stock to Merrill Lynch Pierce Fenner.
On March 27, 2019, the Company issued 60,000,000 shares to Jeffrey Bearden due to the Common Stock Purchase Agreement between Jeffrey Bearden and Tourmeline Ventures, LLC., executed on December 26, 2018 (last signature dated in the agreement)
On November 4, 2019, the Company had a Directors Consent in Lieu of Meeting for the Board of Director of Synrgy Corp., where Mr. Jeffrey Bearden acquired 19,000,000 shares of common stock at a par value of $0.001 and 10,000,000 shares Class A Preferred Stock at par value of $0.001. None of both shares were recorded as issued and outstanding, based on the Transfer Agent delivered records.
Note #17: "Synrgy Corp. purchased all of the shares of Acembly, Inc., a California corporation, via a Stock Purchase Agreement dated June 25, 2020
Note #18: "On or about August 13, 2020 Synrgy, Inc. and Acembly, Inc. filed for Chapter 11 bankruptcy protection in the bankruptcy court for the Central District of California, in the matters of In re: Acembly, Inc., Central District of California Case No.: 2:21-bk-16465-WB and In re: Synrgy Corp. Central istrict of California Case No.: 2:21-bk-16469-WB. Both bankruptcy filings will be jointly administered with Case No.: 2:21-bk-16465-WB as the lead case."
Note #19: Apparently Going after old owner of Acembly.
"It has also come to light that Synrgy and/or Acembly may have causes of action to assert against certain of the Plaintiffs in the District Court Litigation for unauthorized expenditure of company funds, among other things."
Note #20: Jeffrey Bearden Director residing in Hagerstown, MD owns 60,000,000 Common Restricted share which gives him 55.83% ownership of synrgy.
Note #21: And of course, there is a lot of text on the Acembly court case peppered throughout the filings.
While this is not directly about ACCA, it is a very interesting turn of events that sheds a bit of light on Jeff and what he is doing.
"fink" over on the SNGY board pointed out a that SNGY is yield sign current now. Multiple disclosures were filed and dated 9-24-2021. Of the shells that Jeff has, why is he fixing this one at last moment?
I wonder why this is happening. Is it because there is a silent partner (maybe Joe Meuse is still in the picture as we saw from the Synrgy/B&D/Acembly court case?)
Or could this have been done because of the court case? How would this have helped him? From my last post here, we see that he is trying to make an argument of synrgy being a "real" company.
https://www.docketbird.com/court-cases/Kennedy-et-al-v-Bearden-et-al/cacd-2:2020-cv-11483
Or maybe this was done/forced because of Jeff using synrgy shares to pay for Acembly.
But why would he do this now of all times? Considering his federal case, he may not be able to do anything else for 30+ years.
For anyone wanting to see the disclosures supplied by synrgy.
https://www.otcmarkets.com/stock/SNGY/disclosure
fink -> Good catch on that. It is very interesting. Though I wonder why this is happening. Is it because there is a silent partner (maybe Joe Meuse is still in the picture as we saw from the Synrgy/B&D/Acembly court case?)
Or could this have been done because of the court case? How would this have helped him? From my last post here, we see that he is trying to make an argument of synrgy being a "real" company.
Or maybe this was done/forced because of Jeff using synrgy shares to pay for Acembly.
But why would he do this now of all times? Considering his federal case, he may not be able to do anything else for 30+ years.
For anyone wanting to see the disclosures supplied by synrgy.
https://www.otcmarkets.com/stock/SNGY/disclosure
This is a re-post of info I posted over on ACCA board. But probably worth posting over here as it directly affects SNGY. This is from the Acembly case that SNGY is directly involved in.
https://www.docketbird.com/court-cases/Kennedy-et-al-v-Bearden-et-al/cacd-2:2020-cv-11483
Additional news, Jeff actually filed his "Alter Ego" document for the court 9-27-2021. I will give a bit of perspective below with some quotes just to give a insight to Jeff and how he handles things legally as it may impact or give insight to ACCA.
Some interesting aspects from the posting. One is that Jeff still has money to pay for legal counsel. Michael B. Wilson of CURAT/LEX, INC. I wonder if he knows of Jeff's other federal troubles yet?
But here are some highlights for those interested.
1) "plaintiff’s claim against the alter ego defendant is
identical with that claimed by plaintiff against the already-named defendant."
2) So the plaintiffs are looking for a quick verdict by the judge, but Jeff is adamant about due process and forcing a trial with jury.
"Because Defendants are entitled to a trial by jury on certain of the substantive legal claims underlying Plaintiffs’ alter ego theory, a jury is required."
3)Jeff is looking to throw a wrench in how the plantiffs are trying to handle this case.Really trying to push how he is involved.
"Here, Plaintiffs entered into various agreements with the Debtor Defendants Acembly and Synrgy. Acembly and Synrgy do have common shareholder – Defendant Jeff Bearden. Defendant B&D Consulting, however, is not alleged to – nor does it – have any interest in either Acembly or Synrgy. B&D Consulting’s sole involvement in the transactions at issue here was that it forwarded the funds required by the Stock Purchase Agreement. Put simply, Plaintiffs cannot prove B&D Consulting to be the alter ego of either Acembly or Synrgy because B&D Consulting is not a shareholder of either. Plaintiffs therefore attempts to link B&D Consulting to the transaction through Jeff Bearden – which is to say Plaintiffs allege that Synrgy and Acembly are the alter egos of Jeff Bearden and, since B&D Consulting is also helmed by Mr. Bearden, B&D Consulting is linked as well. That is not the proper application of the alter ego doctrine; it is reverse-veil piercing, something which is disallowed in California."
4) Does synrgy even exist?
"effort to claim that the allegations in the Complaint are made directly against Bearden, they state the Defendant Synrgy does not exist and therefore Bearden, as agent, failed to disclose his principal. However, in an effort to pursue their alter ego theory of liability Plaintiffs state that Synrgy does indeed exist and is the alter ego of Bearden."
5)One thing that has bothered me is the spelling for "synrgy" company has been incorrect (as synergy) at multiple points of this case. How would that play into the case? And it is finally coming up.
"the name of Synrgy was misspelled as “Synergy” in the contracts (something, incidentally, which is done in Plaintiffs’ Complaint where “Synrgy” is the named Defendant but “Synergy” is used throughout)."
6) The funds are brought back into question.
"Plaintiffs allege that Bearden contributing funds for Synrgy’s operation constituted commingling. That is not the case. An owner’s contribution of funds to assist his or her company in meeting its financial obligations does not support the application of the alter ego doctrine. "
7) Jeff using Acembly as personal bank? looks like he did same thing with B&D PPP loans (buying stocks)
"Plaintiffs Have No Evidence That Bearden Diverted Funds or
Assets, Treated Corporate Assets His Own or That Either
Acembly or Synrgy Failed to Issue Stock"
That it is PhenixBleu.
Additional news today, Jeff actually filed his "Alter Ego" document for the court yesterday. I will give a bit of perspective below with some quotes just to give a insight to Jeff and how he handles things legally as it may impact or give insight to ACCA.
Some interesting aspects is Jeff still has money to pay for legal counsel. Michael B. Wilson of CURAT/LEX, INC. I wonder if he knows of Jeff's other troubles yet?
But here are some highlights for those interested.
1) "plaintiff’s claim against the alter ego defendant is
identical with that claimed by plaintiff against the already-named defendant."
2) So the plaintiffs are looking for a quick verdict by the judge, but Jeff is adamant about due process and forcing a trial with jury.
"Because Defendants are entitled to a trial by jury on certain of the substantive legal claims underlying Plaintiffs’ alter ego theory, a jury is required."
3)Jeff is looking to throw a wrench in how the plantiffs are trying to handle this case.Really trying to push how he is involved.
"Here, Plaintiffs entered into various agreements with the Debtor Defendants Acembly and Synrgy. Acembly and Synrgy do have common shareholder – Defendant Jeff Bearden. Defendant B&D Consulting, however, is not alleged to – nor does it – have any interest in either Acembly or Synrgy. B&D Consulting’s sole involvement in the transactions at issue here was that it forwarded the funds required by the Stock Purchase Agreement. Put simply, Plaintiffs cannot prove B&D Consulting to be the alter ego of either Acembly or Synrgy because B&D Consulting is not a shareholder of either. Plaintiffs therefore attempts to link B&D Consulting to the transaction through Jeff Bearden – which is to say Plaintiffs allege that Synrgy and Acembly are the alter egos of Jeff Bearden and, since B&D Consulting is also helmed by Mr. Bearden, B&D Consulting is linked as well. That is not the proper application of the alter ego doctrine; it is reverse-veil piercing, something which is disallowed in California."
4) Does synrgy even exist?
"effort to claim that the allegations in the Complaint are made directly against Bearden, they state the Defendant Synrgy does not exist and therefore Bearden, as agent, failed to disclose his principal. However, in an effort to pursue their alter ego theory of liability Plaintiffs state that Synrgy does indeed exist and is the alter ego of Bearden."
5)One thing that has bothered me is the spelling for "synrgy" company has been incorrect (as synergy) at multiple points of this case. How would that play into the case? And it is finally coming up.
"the name of Synrgy was misspelled as “Synergy” in the contracts (something, incidentally, which is done in Plaintiffs’ Complaint where “Synrgy” is the named Defendant but “Synergy” is used throughout)."
6) The funds are brought back into question.
"Plaintiffs allege that Bearden contributing funds for Synrgy’s operation constituted commingling. That is not the case. An owner’s contribution of funds to assist his or her company in meeting its financial obligations does not support the application of the alter ego doctrine. "
7) Jeff using Acembly as personal bank? looks like he did same thing with B&D PPP loans (buying stocks)
"Plaintiffs Have No Evidence That Bearden Diverted Funds or
Assets, Treated Corporate Assets His Own or That Either
Acembly or Synrgy Failed to Issue Stock"
I completely forgot about that deadline today. While Jeff still has some time till end of the day, I do not expect him to.
At this point, considering Jeff's current federal legal issues, I would expect this court case to go into default and a "win" for the ex Acembly owners. But we shall see.
Getting back to the Paycheck Protection Program violations.
Using the basic info from https://projects.propublica.org/coronavirus/bailouts/
I have found the following loans taken out in Jeff's control.
PPP loan taken under B&D Consulting:
May 1, 2020 (First Round)
https://projects.propublica.org/coronavirus/bailouts/loans/b-d-consulting-inc-8560957307
PPP loans taken under Synrgy:
July 30, 2020 (First Round)
https://projects.propublica.org/coronavirus/bailouts/loans/synrgy-corporation-1369028208
AND
March 5, 2021 (Second Round)
https://projects.propublica.org/coronavirus/bailouts/loans/synrgy-corporation-7000158503
PPP loan taken under Acembly (While under Jeff's control):
March 23, 2021 (First Round)
https://projects.propublica.org/coronavirus/bailouts/loans/acembly-inc-6298738606
I did not find any PPP loans under ORCIM Financial Holdings or Acacia Diversified Holdings. May have overlooked though.
While I was only able to find 1 PPP loan for B&D Consulting, the government article below states Jeff/B&D tried to get a second one. Which is part of what triggered their investigation.
https://www.justice.gov/usao-md/pr/hagerstown-man-facing-federal-charges-allegedly-falsifying-documents-order-obtain-covid
The PPP money that was collected by Jeff's companies seem to be blatantly non-logical even with the little info we had. Some of the info we have does point to Jeff misusing the PPP money for things it was not meant for, potentials including the following: used to repay what was owed to employees at B&D and Synrgy after he let them go prior to the PPP program, continued collection of PPP loans using fake employees (except for Acembly?), use of PPP funds in buying/starting up ACCA, and personal items like stocks and maybe a house in silver springs, MD.
While I cannot verify everything talked about above, I can verify that Jeff's companies have gained PPP loans, number of employees Jeff is claiming under each company, and the timing against facts is very questionable.
For anyone who is not aware. B&D Consulting and Synrgy closed all locations and dropped every employee back in December of 2019. There has been no sign of rehire of employees, restart of technology that was being developed, or any positive expansion of any company (new work, new contracts, new employees) since. So, while looking at those PPP loan details in the links above, take a serious look at the "dates" and employees stated. Things just did not add up here.
I just find it a bit mind boggling that Jeff is claiming that many employees under his companies (35 as of March 5, 2021 for Synrgy alone), but there is no sign of actual employees in over 2 years. No LinkedIn or other social media profiles anywhere.
With all this said, it is probably best to say even if Jeff gets out from the federal bars, he will not be able to work with government contracts ever again because of this federal case on his record. So he lost that for his future.
I wonder what this federal case will dig up and allow us to learn with Jeff and his companies. But now I really wonder about the possibility of other people involved around Jeff and his companies (ACCA, B&D, Synrgy, Acembly). Will we see them pop up in the federal case? Or was it something truly only on Jeff? Was he that bad off financially that made him risk everything?
I would not be surprised if the following people pop up in the case to at least be witnesses by the federal prosecuting team.
The accountant for B&D Consulting and Synrgy? Can confirm Terri Dotson was the accountant for B&D through her LinkedIn account and following government document.
https://www.gsa.gov/cdnstatic/S2_Industry_Partners_8-23-21__%282%29.xlsx
Was Terri Lynn Dotson in on the PPP fraud? As found out and posted before, she already has a record of fraud with business.
https://www.fredericknewspost.com/archive/ex-bookkeeper-sentenced-to-18-months-in-theft-case/article_330b7e8e-0f23-593a-9ab5-a576dc4cf28d.html
Or what about the "professional" help that Jeff had in the background, Joseph Meuse? Court records with the Acembly cased proved he was working with Jeff on that deal. We are assuming it was in connection with ACCA ultimately. He did look like fairy-tail help for Jeff and be able to help Jeff with any financial issues and business connections.
https://jancavelle.co.uk/turnaround-expert-joe-meuse-helps-businesses-live/
But we did also find Joe has a history with fraud with shell companies in the stock market with his previous owned company "Belmont Partners, LLC".
https://www.sec.gov/litigation/admin/2015/34-74602.pdf
Honestly though, I do not know what to think here. It did seem like everything was going perfectly, then things went off the rails and silent. No further SEC filings. No further word from ACCA. It was such a wild ride of ups and downs. But it really has gone through some weird twist over the past year. While we did find clues along the way, the picture did not come together until too late. If you are able to use this as a learning lesson, it should help with future investments and knowing what warning signs to look out for. Hopefully the new SEC rules going into play will help remove this kind of risk from the market. But only time will tell.
A bit more information directly from the government on the matter with Jeff.
https://www.justice.gov/usao-md/pr/hagerstown-man-facing-federal-charges-allegedly-falsifying-documents-order-obtain-covid
As this affects those of you holding SNGY shares, I figured I best re post this here as well.
Unless there was a hidden partner, here is the end to Jeff/ACCA/B&D/Synrgy/Acembly.
On Sept. 22, 2021 the complaint was signed and it was unsealed when Bearden was arrested on Sept. 23.
https://www.localdvm.com/news/maryland/hagerstown/hagerstown-man-facing-federal-criminal-complaint-and-arrested-over-alleged-ppp-fraud/
As pointed out in my earlier post, the PPP loans didn't make sense in the claimed details. And sadly I was right.
What is really weird, is the arrest is only on B&D PPP loans and not the others (Synrgy or Acembly). Maybe those will be follow-ups.
We also get a reason for the money coming from different bank accounts for the buying of Acembly. That B&D account having a really high negative balance.
Unless there was a hidden partner, here is the end to Jeff/ACCA/B&D/Synrgy/Acembly.
On Sept. 22, 2021 the complaint was signed and it was unsealed when Bearden was arrested on Sept. 23.
https://www.localdvm.com/news/maryland/hagerstown/hagerstown-man-facing-federal-criminal-complaint-and-arrested-over-alleged-ppp-fraud/
As pointed out in my earlier post, the PPP loans didn't make sense in the claimed details. And sadly I was right.
What is really weird, is the arrest is only on B&D PPP loans and not the others (Synrgy or Acembly). Maybe those will be follow-ups.
We also get a reason for the money coming from different bank accounts for the buying of Acembly. That B&D account having a really high negative balance.
Starting the flow of case submissions. Lets see what we can learn.
https://www.docketbird.com/court-cases/Kennedy-et-al-v-Bearden-et-al/cacd-2:2020-cv-11483
https://www.pacermonitor.com/public/case/37594863/Kennedy_et_al_v_Bearden_et_al
WallStreetMyWay -> Not sure what your going on about since your "words" in both of your post are all over the place. If you would like to bring intelligent or constructive points to the conversation here, we would very well welcome it. But if you are only trying to stir the pot, we would like for you to keep to yourself as most of us here are just trying to use this as a learning lesson at this point.
cantgetmyname -> Smart and safe move on your part! I do feel bad for anyone still holding at this point as I do not see anything turning around for ACCA.
cantgetmyname -> Thank you for the confirmation with E*trade.
First date popping up. Should be some interesting insight to Jeff and his money/business problems.
https://www.docketbird.com/court-cases/Kennedy-et-al-v-Bearden-et-al/cacd-2:2020-cv-11483
So, looks like E*Trade and TD Ameritrade are still allowing buys at this point. At least for me, I can go up through the buy window (but I did not execute any buys).
But reports that Schwab is only allowing sells at this point. Anyone else able to confirm any kind of limitations in buying process yet? (not that I would expect anyone to be buying at this point).
https://stocktwits.com/Longalpha/message/371910597
Both parties are ordered to file simultaneous briefs regarding alter ego by September 15, 2021.
Simultaneous oppositions are due no later than September 27, 2021.
A hearing on the matter is set for October 4, 2021 at 1:30 p.m.
A further pretrial conference on October 25, 2021 at 3:00 p.m.
The jury trial is continued to November 9, 2021 at 9:00 a.m., with The
Hopefully, the briefs by both sides and their rebuttals will be the long awaited inside info we have been looking for. Should be very enlightening and show how bad the situation is around Jeff.
Some other key dates.
June 30, 2021 – Deadline for issuers to provide required disclosures.
September 28, 2021 – Rules compliance date. Disclosure failure will result in removal from Pink Market.
https://ibkr.info/article/3956
OilRush -> I was thinking of that as a potential far far possibility. But between the SEC actions coming up and the true lack of funding shown in the court case, I really cannot see it. But cannot say it for sure as we have not seen behind the curtain of ACCA, only Acembly, Synrgy on paper and SNGY shell.
At this point, I believe we are only going to see Jeff throw away anything left in Acembly/Synrgy/SNGY or it would be awarded back to the original owners (since Jeff does not have anything of worth anymore from the court records).
So, where does that leave ACCA? I think Jeff is putting all of his efforts into the Acembly court case and will not be able to fix ACCA shell status before SEC deletes it from the market. Maybe in a couple years he might try to restart his effort with ACCA with a new shell. Or on the flip side, he will call it quits and walk away from the tech industry. Only time will tell.
Open question.
If Jeff was not able to use his shells and has stepped to the point of filing bankruptcies, why has he not tried selling his shells?
Is there really a flood of cheap shells on the market at this time?
Bummer to not see any docket updates yet from yesterday's pretrial conference. Would love to have been a fly on the wall.
It is very sad.
I really do wonder where all that money went with the PPP loans. I wonder if the Plaintiffs in the case will bring up in the court hearings. Would be valid considering Synrgy and Acembly both received the loans and are now filing for bankruptcy. https://investorshub.advfn.com/boards/read_msg.aspx?message_id=163754702
buccaneer1961 -> From my understanding, Acembly was the only company that could have been bringing in any kind of income. But as we see now, bankruptcy is telling a dark secret. Considering Jeff is in this legal bind, Acembly/SNGY seems shot at this time, ACCA not holding anything, and the SEC deadline for starting filings, sadly I think it is very safe to believe that ACCA will not be getting up to date and will probably be on SEC's chopping block.
Bankruptcy heads up for the group still holding here with SNGY.
In the court case Jeff has going with the old owners of Acembly, Jeff announced Friday (8/13) in the case that he has filed for bankruptcy for both Synrgy Corp and Acembly, Inc.
https://www.docketbird.com/court-cases/Kennedy-et-al-v-Bearden-et-al/cacd-2:2020-cv-11483
Hey buccaneer1961 -> It is not a withdrawal. The plaintiffs ADDED Sean Raymond Bozarth to their council with the "Notice of Appearance or Withdrawal" in the court case. I assume the newly added council the plaintiffs brought onboard has a specialty area or something that they are needing. Maybe has something to do with Jeff filing the bankruptcies? Someone should look up this lawyer and see what is area is in or look at the reason indicated in the G-123 Notice filed.
Additionally, looks like the plaintiffs also filed "STATEMENT REGARDING INAPPLICABILITY OF BANKRUPTCY STAY TO DEFENDANTS JEFF BEARDEN AND B&D CONSULTING, LLC". The plaintiffs are saying to the court the bankruptcies irrelevance to the matter at hand. I guess there is something the plaintiffs really want back from their old company Acembly (Technology? Name? customers?) or they are going to take the issues financially out on Jeff directly or his other companies listed (B&D?).
P3 Partners was taken out of the case awhile back (3/30/2021) as the owner proved he had no hand in the matter. And that Jeff was acting on his own accord and incorrectly mixed P3 name into the matter. So, the plaintiffs can not go after P3. Did anyone ever confirm if Jeff was fired or still working at P3?
Not sure What the plaintiffs are wanting from a list of dead private companies and empty shells. I will be curious to see how the case proceeds for the plaintiffs.
Notice of bankruptcy was for SNGY and Acembly. Not ACCA, lets be clear on that as not to confuse anyone watching this. Does anyone have any links to the actual bankruptcies by Jeff for any of his companies?
So, from my understanding he had Synrgy corp on paper that the engineers were working under. Then he also had "Synrgy corp" shell that he was going to reverse merge Synrgy corp into. But I never seen any evidence of it being done. From my understanding, after Jeff bought Acembly in Cali, he was going to reverse merge Acembly into the SNGY shell. Without additional info on the bankruptcies, I think he is/has only filed bankruptcy for Acembly and the SNGY shell.
I think that Jeff is killing anything that was touching Acembly as another person pointed out as possibly being scorched earth tactics in response to the lawsuit. Or could it possibly have something to do with the Covid Small Business loans he took out? (Unable to pay them back?)
The Judge said the court has no jurisdiction over the deal "reached" by the plaintiffs and Jeff outside of court. Meaning the court could not force Jeff to keep up his end of the deal.
So, because the plaintiffs never stopped the court case after the "deal", they are able to keep the case going. Which is lucky for them I guess.
Now, Monday is only a "per-trial conference". The judge could look at the facts + the deal reached and cancel the actual trial. Or most likely, the Judge will allow it to proceed as previously scheduled.
As PhenixBleu pointed out, looks like the original court case pre-trial is going to move forward as if no deal has been reached. Which is valid from the sound of things, Jeff apparently already broke the deal supposedly. So, I guess we are back to watching things pre-deal.