Probably true about GATE (e.g., assuming that GATE did not actively engage in fraud). Seems less true about Vincent Molinari, who was an officer and director of AGEL in his individual capacity. To the extent that Molanari held his AGEL posts in his official capacity with GATE, then GATE plausibly could be liable for wrongdoing (if any) by Molinari. JMO, without any research.