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Replies to post #99437 on Treaty Energy Corp. (fka TECO)
03/09/16 7:28 PM
03/09/16 7:49 PM
28. More specifically, in 2010, Gwyn caused Level III to: purchase a 24% membership interest in GAGA, LLC (a closely held company owned by Gwyn and one other individual and controlled by Gwyn), purchase a 23.08% interest in Doctor Henry, LLC (another closely-held company in which Gwyn had an interest), make multiple loans to Rare Cuts, LLC (an Andrew Reid-controlled company), make multiple loans to Rampant Leon Financial Corporation (also a Reid-controlled entity), purchase 1,400,000 shares in Treaty, and purchase 17,560 shares in Orpheum. By the end of 2010, Gwyn had caused Level III to stop nearly all futures trading.
29. In 2011, Gwyn continued to siphon funds from Level III to the same entities, ultimately divesting the fund of all holdings and positions in futures commodities. In 2011, Gwyn also caused Level III to purchase interests in Lodwick I, LLC, another company affiliated with Gwyn’s fraudulent scheme.
30. On information and belief, the transfers of the fund’s assets as described herein were disguised insider purchases of shares in Orpheum and Treaty. The various “investments” in private companies as described herein were merely false fronts, used to obscure the ultimate transfer of the fund’s assets by Gwyn into shares of Treaty and Orpheum, in order to artificially inflate the share prices of Treaty and Orpheum.
03/09/16 8:18 PM
AI
