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Replies to post #60542 on Blue Diamond Ventures Inc (BLDV)
05/17/17 4:26 PM
05/17/17 6:10 PM
"Ken [Teknus] told [John] Quincey [Moaning] that he had two guys in mind as possible candidates to be the CEO of BLDV; these two people were Thomas J. Parilla (Tom) or Cleve Tsai. "
U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 23479 / March 3, 2016
The SEC's complaint against Fortitude Group, Inc. and its CEO, Thomas Parilla, filed in federal court in Pennsylvania on February 29, 2016, alleges that:
Between February and March 2014, Fortitude and Parilla made materially false and misleading statements in various publicly-disseminated press releases and a financial report concerning Fortitude's purported efforts to enter into the rapidly growing legal marijuana business industry.
The press releases falsely described Fortitude as having successful marijuana-related partnerships and operations, including claims about its issuance of a Discover-branded debit card and distribution of vaporizers to marijuana dispensaries.
Fortitude and Parilla falsely represented in a company financial report that Fortitude was earning revenue from the purported marijuana business.
Fictitious Subsidiaries
In a February 21, 2014 press release, Parilla announced that “after extensive research [Fortitude had] decided to set up a Medical Marijuana company within [its] Medical Subsidiary.” The Company further announced “the formation of three new majority owned subsidiaries[:] Fortitude Healthcare, Fortitude RE, and Fortitude Technology…with Management Teams [consisting] of seasoned professionals.”
In fact, the Company had not formed these subsidiaries at the time of the February 21, 2014 press release or anytime thereafter.
(more)
https://www.sec.gov/litigation/litreleases/2016/lr23479.htm
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