He preys on people's ignorance regarding the stock market, and he rely's on a fundamental human emotion - GREED.
SIMMONDS.....Hey, I'll sell you .25$ "founders" stock, well close a couple of deals, the stock will go up, you will become a millionaire. This is his M.O, and for ignorant people (of which I am one) this "sucks us into the vortex".
One BIG problem.....
The entire story is total BS, it's not real. In order to buy "distressed" businesses, you need cash to bring them back to profitability. He invested no personal cash, and stripped the only asset that he had, Goudas, of all its cash.
I agree, this dude needs to see the inside of a courtroom, so he can be held accountable.