Eline Entertainment Group Inc (EEGI)

[Scumbag Fraudsters]

Wouldn't surprise me if the CEO is entangled in an investment company.

How many S. A. S. Jr.'s can there be?


Raymond Barton sold billions of unregistered shares under four tickers.

At the same time, Ray and his attorney (William Goode) founded Peachtree Capital LLC. They were later charged with fraud, along with three of Barton's CEOs.

According to the SEC fraud complaint,

In or about October 2013, Barton and Goode formed and incorporated Peachtree, which they publicly described as a "next generation small-cap private equity fund and venture capital firm." In reality, the sole purpose of the company was to serve as Barton and Goode's alter ego for acquiring and originating additional convertible MedGen debt (and other public-company debt) that Barton and Goode could liquidate. After forming Peachtree, Barton and Goode split the proceeds of their stock sales evenly.

After founding Peachtree; Barton continued his fraudulent promotion of MedGen. On February 19, 2014, Barton drafted and issued a press release announcing that MedGen had reduced its outstanding convertible debt—i.e., the convertible debt that Barton and Goode held. The press release falsely stated that the company's outstanding debt had been reduced to less than $30,000,and that the debt's flat conversion rate {of $0.0001 per share} had been adjusted to float with the underlying stock's market price. In fact,Barton and Goode,the only MedGen debt holders, had not agreed to any reduction in the outstanding debt,and they continued to convert their debt into MedGen stock at a flat rate of$0.0001 per share after MedGen issued the press release.

In the weeks following the February 29 press release, Barton sold an additional 50 million unregistered MedGen shares to the public.

Coincidentally, Barton's investment company was also involved with EEGI not that long ago.

Eline Entertainment Group announces agreement to forgive $280,000 in convertible debt as part of a corporate cleanup effort

November 5, 2015 – Eline Entertainment Group, Inc. (OTCPink: EEGI) today announced that the company’s only significant debtor, Peachtree Capital, LLC. Has agreed to forgive $280,000 in convertible debt that would have presented the possibility of serious dilution to the company in the near future.

https://www.otcmarkets.com/ajax/showNewsReleaseDocumentById.pdf?id=17608