MedGen Inc (MDIN)

[Scumbag Fraudsters]

I’ve been wondering how much of that really was Chieco and how much was Barton impersonating Chieco.

By September 2011, Barton purportedly had resigned as CEO and sole director of MedGen and was replaced as CEO by another individual. The new CEO, however, held the position in name only; Barton continued to manage and otherwise control the company.

For example, the first false press release, which Barton drafted and issued on October 23,2012, stated that the company "has taken a tremendous leap forward in re- introducing it's[sic] nationally recognized product Iine into traditional and online retail by 2013."

As Barton knew at the time, the October 23 press release was false and misleading...

For more than a year thereafter, Barton knowingly or recklessly drafted and issued additional false and misleading MedGen press releases while he and Goode continuously converted purported MedGen debt into stock and sold it to the public.

On May 29, 2013, Barton drafted and caused MedGen to issue a press release announcing that the company had "acquire[d] a new and exciting patent license "for a probiotic to treat "lactose intolerance"

The statements in the May 29 MedGen press release were false.

Barton knew thatthe statements in the May 29 press release were false when he issued it because he personally had participated in the transaction and was familiar with the transaction's actual terms.

I’ve also wondered if Chieco was a whistleblower who was given immunity in exchange for his assistance in the investigation. MDIN was the worst of the four fraud stocks and Chieco was there at the beginning.

Wouldn’t that be something if Chieco turned out to be the one who provided the investigators with the evidence they needed to convict the other scumbags?


He was certainly complicit, even if by ignorance. I have an email from Chieco in which he said:

I have about $220,000 of my personal cash into the company and basically my entire career hinges on it's success. I also gave back half the stock I bought and paid for to the company to cut the outstanding down. If the stock price doesn't come up much much higher, I will never get my investment back. Even if it does I can't even think about it until mid-next year but it simply must be in the 50-60 cent range at the very least. However, I know what I am capable of and I know what this company has and we are going to succeed.

And in another one:

The company is making a ton of money and our little delay in retail is behind us as we are back on track.