That is absolutely untrue. The real story is that IFUS, MW and RW conspired to defraud Energy Supreme, LLC out of the $250,000.00 lent to them in good faith. IFUS never even attempted to make the first payment ... nor did they contact the lender to request additional time or new terms. The state lawsuit seeks the original $250,000.00 plus interest, plus fees.
In addition to the original State court suit for the unpaid loan; IFUS/ MW are now being sued in Federal court for RICO violations. The Federal case should be concluded by spring of 2016. The state suit may be re-instituted upon the conclusion of the Federal case.
You're going to want to sue MW after he loses the RICO case. Though it is obvious to me, and has been for a long time, that MW has defrauded his own shareholders; how he did so will be made crystal clear during the trial.
This is just a few more months from getting ridiculously interesting. While it will be fun for me to watch MW finally be brought to justice, lots and lots of innocent people are going to lose their money ... in toto.
Suffice it to say, it won't do the shareholders one bit of good if IFUS magically sold thousands of bags per day. That money belongs to Supreme Energy ... which is owned by those who control the preferred shares and NOT retail shareholders. So, when MW defrauded Energy Supreme, LLC, he defrauded the shareholders at the same time with the same move. Nice guy, huh?
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