Doyen Elements Creates Confusion For Cannabis Investors

Small shareholders in penny stocks typically have little power. They don’t own enough to make much of a difference with the owners and spending money on speculative investments doesn’t warrant sympathy as the prevailing attitude is buyer beware. The cannabis industry is no different, but with the preponderance of penny stocks within the industry, there is a tendency for companies to play fast and loose with investor money.

The SEC’s Office of Investor Education and Advocacy (OIEA)  regularly receives complaints about marijuana-related investments, and the SEC continues to bring enforcement actions in this area. Back in 2014, the SEC issued temporary trading suspensions for the common stock of five different companies that claimed their operations related to the marijuana industry.

In September of 2018, The SEC charged a Texas-based investment fund and its founder with defrauding investors with false promises of massive returns in cannabis-related businesses.  Michael Cone allegedly employed boiler room sales staff who made cold calls to investors and promised them up to 24 percent annual returns from investments in Greenview. According to the complaint, Cone spent investors’ money on designer clothes and luxury cars, and on payments to earlier investors to prolong the alleged scheme.  In a parallel criminal proceeding, the U.S. Attorney’s Office for the Central District of California charged Cone and seized approximately $1.4 million in cash and assets.

Doyen Elements

Doyen Elements (now known as Reach Genetics) has left a string of investors out in the cold each telling a similar story. In November of 2017, Green Market Report reported that Doyen Elements was planning to publicly list its shares on the OTC Market, and was accepting investments prior to its IPO at $7.00 a share. Doyen Elements said it had big plans and was currently building one of the largest grow facilities in North America. “This 234,000 sq. ft. behemoth of a building will be capable of producing upwards of 70,000 pounds of cannabis per year”. The company also suggested it would be going public shortly. Several investors decided to jump in and received a confirmation of their purchase and then that was it. The money was taken and all communication stopped.

The CEO of Doyen at the time was Geoffrey Thompson and in September of 2017, the SEC alleged that Thompson, acting through a company called  Accelera Innovations Inc. and Synergistic Holdings LLC, sold approximately $1.7 million worth of Accelera stock to investors and that the sale was not registered or subject to an exemption from registration.

At the same time that the SEC filed the complaint about Thompson and Accelera, Thompson and Doyen Elements were selling shares online.  “In September 2017, I purchased 143 shares of Doyen at $7.00 per share,” said Robert Satten. “I received a subscription agreement from them and till this point in time nothing else……No ticker symbol, no number to call, nothing.”

Another investor Luis Dominguez and his wife Charity told a similar story. “I was reading a lot about the cannabis industry and I thought this was going to become a big thing. I thought whoever invests in this is going to make very big money. I told my wife and we started looking for information on the company. We thought the shares were cheap. We bought the shares through their website online.”

Dominguez also said he received no information after the initial purchase confirmation. He went to the company’s Facebook (FB) page to find a way to contact the company. “I called them and someone picked up the phone but she said the company was moving and she would try to get me more information,” Dominguez said that was the last time he spoke to someone He continued to call but no one answered the phone.

Then he heard Doyen Elements had been sold or merged to a new company called Reach Genetics. “So, I started calling the new company and still no one answered the phone,” he said. Eventually, the persistent Dominguez finally spoke to someone who answered the phone. “I told him my story and he sounded annoyed. He said the new company didn’t buy the part of Doyen that I had my shares with. That my shares were with Doyen Elements and he gave me a phone number to call.” No one ever answered the new phone number.

Two Doyens

Thompson said the confusion stems from the fact that there are actually “two” Doyens. Doyen International (Canada) and Doyen Elements (U.S.). Thompson said the Doyen Elements company is the group that is ignoring shareholders and has renamed itself Reach Genetics. He said that this is the company these shareholders really invested in, not Doyen International. He said that Doyen International sued Doyen Elements accusing the group of hijacking the Reg. A fundraising and requesting that they stop using the Doyen name.

One shareholder that asked not to be named said he did receive an email about the name change to Reach Genetics, but that the phone number and emails he sent went unanswered. Reach Genetics is currently selling new shares for once again $7 a share. Reach Genetics has not responded to requests for comment.

Earlier this month Doyen International, Inc. announced it was rebranding and renaming itself to Covalent Collective. In addition, the company announced Bill Gregorak would be the Chief Executive Officer. Prior to being named CEO, Mr. Gregorak served as Chief Financial Officer of Covalent Collective since February 2018. Mr. Gregorak takes over as CEO from Geoffrey Thompson, a co-founder of Covalent Collective, who will continue as leader of merger and acquisitions.

This is the third rebranding for this company as its original name before Doyen was Advantameds. To make matters more confusing, Doyen International changed its name in October 2017 to Cynterra Earth Sciences to make an acquisition of Boulder Hemp and Slo-Hemp, but then in November 2017 changed its name back to Doyen International. This is according to the company’s legal documents.

Thompson and the SEC

Thompson’s problems with the SEC are not over. The current complaint with the company Accelera is still ongoing. Thompson said the two (he and the SEC) are close to reaching a settlement. The SEC would not comment on the matter. Thompson said he expects that he will be barred from serving as on an officer of a public company for three years.

According to the SEC filing, “The complaint seeks permanent injunctions, disgorgement of ill-gotten gains, civil penalties, an officer-and-director bar against Thompson, and penny stock bars against Thompson and Synergistic.” The SEC also separately charged Daniel Caravette, of St. Charles, Ill., with acting as an unregistered broker-dealer. Caravette’s alleged violations involved sales of stock in Accelera and a Canadian company founded by Thompson which claimed to be involved in medical marijuana production, distribution, infusion, research, and testing. The Canadian company referred to by the SEC but not named was Advantameds (the original Doyen).

Doyen’s Divorce

Thompson’s problems with the SEC meant that Doyen Elements wasn’t approved by the OTC to list its shares as originally planned. Remember, this is what the online investors in Doyen were told was imminent.  In order to try to reapply to the OTC again (according to court documents), Thompson retired from Doyen and surrendered his 16 million shares so that the company would have a better chance the next time it applied with the OTC.

The plan was that Thompson would leave the company so that its chances to get listed would be improved. According to one of the lawsuits, it was alleged that once Thompson had retired and surrendered his shares, the Doyen Elements folks set out to compete directly with the Doyen International folks. Taking the expensive rebranding work (over $200k) and the strategic plans with it.

Thus, the two Doyens split and Doyen Elements became Reach Genetics, which is unreachable and Doyen International became Covalent Collective. Thompson sued to get his shares back and rescind the retirement agreement.

Covalent Collective

Covalent just announced that completed its first acquisition which the company dubs the “Colorado 16.” This company includes ownership of real estate that leases multiple medical marijuana cultivations, production, and five Colorado medical cannabis dispensaries.

Looking Ahead

Some investors have said that Reach Genetics has begun to contact them, but with little information as to what has transpired. One investor who asked not to be named said, “They changed their name to Reach Genetics, now they did send me an e-mail saying that was their new name but that was last summer and I haven’t heard anything from them or anything about them. I have tried calling the toll free number for Reach Genetics and I have emailed them and I have emailed Cindy Boreum and each time I have not gotten any reply.”

Covalent Collective seems to be moving forward with Thompson, but not in a formal role. The company says that it has “A vision to build the largest grow capacity in the U.S.”

 

Debra Borchardt

Debra BorchardtDebra Borchardt

Debra Borchardt is the CEO, Co-Founder, and Editor-In-Chief of GMR. She has covered the cannabis industry for several years at Forbes, Seeking Alpha and TheStreet. Prior to becoming a financial journalist, Debra was a Vice President at Bear Stearns where she held a Series 7 and Registered Investment Advisor license. Debra has a Masters degree in Business Journalism from New York University.


44 comments

  • Avatar
    john

    March 6, 2019 at 11:19 am

    Investment victims win $22.7 million
    Here is another scam this Geoffrey thompson ran in Minnesota before doyen apparently the state of Minnesota obtained a 22.7 million judgement against him
    Fyi

    By SUSAN FEYDER , STAR TRIBUNE
    July 28, 2008 – 11:34 PM

    More than 130 plaintiffs who sued Investment Properties of Minnesota, alleging that the company duped them in a real estate scheme, have been granted $22.7 million in damages under an order filed last week in Hennepin County District Court.

    A court-appointed special master determined the damages, which were several times more than the $3.5 million in losses originally estimated by the Minnesota Attorney General’s Office. The office sued the Brooklyn Park-based investment company in 2006, but it later asked to be dismissed from the case after the plaintiffs obtained private counsel.

    The plaintiffs say Investment Properties of Minnesota (IPM) and several related entities solicited funds for Illinois and Florida real estate ventures during investment seminars in 2004 and 2005. Investors claim they were promised returns of 30 to 35 percent. Their suit alleged that IPM failed to make the investments and defaulted on the loans.

    Last week’s order by Judge Denise Reilly said IPM principals Joseph Cole and Jim Abbott took some of the money for their personal use. The order says that according to IPM’s check ledgers, Abbott withdrew almost $500,000 and Cole withdrew nearly $42,000 from July 2004 to March 2005.

    A court-appointed receiver earlier reported that some of the money was diverted into what turned out to be a mammoth investment scheme run by Travis Correll in Atlanta. Correll has admitted to operating a pyramid scheme and has been sentenced to 12 years in federal prison.

    “It’s good to have gotten this order, but collecting the money is another matter,” said Robert Bauer, an Apple Valley attorney for 134 victims of the scheme. “We will take every reasonable step to find out where it is located,” he said.

    Bauer said his clients will seek a motion that would prevent Cole, Abbott and two other principals, Geoffrey and Nancy Thompson, from having the judgments against them discharged in bankruptcy court.

    Attorneys for Cole and the Thompsons could not be reached for comment Monday. Abbott’s attorney, Konstandinos Nicklow, said his client “is an innocent victim who has been caught up” in the scheme.

    Susan Feyder • 612-673-1723

    Reply

  • Avatar
    Luos

    March 12, 2019 at 10:16 pm

    Man did I get fucked by this asshole

    Reply

    • Avatar
      John

      March 13, 2019 at 10:56 pm

      What happened?

      Reply

  • Avatar
    John

    March 13, 2019 at 10:17 pm

    Wait, I am invested with them currently. They are saying 80-120 days or so until filling for IPO. But I get regular updates with out calling them.

    Reply

  • Avatar
    Michael

    March 15, 2019 at 11:58 pm

    John….did you post the original comment about the $22.7 million investment scam in MN and the comment about being invested with the company?

    Reply

    • Avatar
      John

      March 19, 2019 at 12:39 am

      No, different person. But know Geoff was caught in a situation due to rogue partners.

      Reply

  • Avatar
    Janet ruhl

    April 1, 2019 at 1:54 pm

    I invested in Doyen Elements in Oct 2017 I tried contacting them through e-mail calling and they never contacted me back After months of tiring I received an e-mail from Rich Kaiser when I called him he told me about Reach Genetics and again started to contact them about my investment and as of today April 1 2019 .I haven’t heard anything Thank you I hope to hear from someone on what to do next.Janet Lee Ruhl

    Reply

    • Debra Borchardt
      Debra Borchardt

      April 1, 2019 at 6:11 pm

      Good luck. Sadly that seems to be many investor’s experiences.

      Reply

      • Avatar
        Janet

        April 4, 2019 at 10:15 am

        Debra is there any way to contact this company at all and does this mean it was a scam from the start

        Reply

        • Debra Borchardt
          Debra Borchardt

          April 4, 2019 at 10:39 am

          Hi Janet,
          I have no more information on how to contact Reach Genetics. Perhaps you should contact the Attorney General for that state? Maybe the investors can begin exploring a class action suit? I’ve done as much as a reporter can do. Good luck.

          Reply

          • Avatar
            Janet ruhl

            April 12, 2019 at 4:14 pm

            Can you please give me the state

        • Avatar
          jgarrett39

          July 5, 2019 at 7:14 pm

          Janet,
          I was offered the chance to invest in some predecessor companies: accelera innovations, which I think was listed as being part of Advantameds. Several people in my circle of friends were investing due to a friend of Geoff’s touting the opportunity. I contacted a lawyer who warned me not to invest, so I declined. You may need to contact a lawyer or ombudsman at this point. Many people have invested with this guy, and the line for reimbursement is likely quite long. Sorry this happened to you.

          Reply

        • Avatar
          jgarrett39

          July 5, 2019 at 7:20 pm

          Janet,
          I wanted to add an answer about what state he is in. I recall that Geoff lives in Frankfort Illinois. I have no way of knowing what state his companies are registered in, though the investment contract he offered me was set up to apply Illinois law.

          Reply

  • Avatar
    Sana

    April 19, 2019 at 2:20 am

    The news is very old from 2008. That is not the entire story. The company is not a scam. As an investor I get regular updates. Geoff is a great guy who is working very hard to get us gains. People are jealous of his success so I think right when the company is about to go public they want to spread false information so the company does not succeed. There has been issues and I have been waiting for a while but it doesn’t mean this whole thing is a fraud. It’s complicated and it will be successful. Let’s nit loose focus because some reporter has reported her thoughts! Good luck to covalent Collective!

    Reply

    • Debra Borchardt
      Debra Borchardt

      April 22, 2019 at 7:32 am

      Dear Sana,

      I am happy that you get regular updates. The people with Reach Genetics have not been very communicative according to numerous other people. With regards to your suggestion that my reporting is only “my thoughts” please be advised that Geoff told me himself that he expected to SEC to ban him from serving as a director of a public company. I have this on a digital recording. I have no issue with Covalent and wish them success.

      Debra Borchardt

      Reply

      • Avatar
        Mark

        June 18, 2019 at 1:00 pm

        Debra.
        I too have received numerous updates from Geoff Thompson. Covelant collective also has another contact person to help Geoff with as one could imagine a bombardment of questions that comes from an ever changing landscape .
        From what I have gathered and maybe a person in your position can help us out with, is, Covelant Collective has now fully complied with the SEC with out any instances. Also, once the audit on Colorado “16” is complete, it will be made available to all. Regarding change or the resignation of the newly appointed CFO and COO would be announced accordingly. I might be dumb but I’m not stupid. It seems to me that Gary, Ken , Tinman and Thomas have telekinesis because they all wrote the same thing.😂

        Reply

      • Avatar
        Carol

        June 25, 2019 at 3:57 pm

        My husband and I have 100k shares of what I believe to be bogus stock. First Doyan, now Covalent. Geoff Thompson sounds like a snake oil salesmen. I’m looking to find out once and for all if we lost all that money?? Looking to find out how I report these people if they are crooks? Can you help me?

        Reply

        • Debra Borchardt
          Debra Borchardt

          June 26, 2019 at 9:35 am

          There’s nothing we can do except report what we learn. I would expect that some law office will probably try to set up a class action, but I haven’t seen that yet. That doesn’t mean there isn’t one out there, I just can’t recall seeing it.

          Reply

    • Avatar
      Chris

      May 3, 2019 at 11:41 am

      Hi Geoff

      Reply

  • Avatar
    Aaron

    May 21, 2019 at 7:46 pm

    I also bought into doyen elements a few years ago and never received any communications.i called and recieved the same answers when they did answer of coarse, “We moved or were in the process, be patient”. I spent over $700 on those scammers and it has me very reluctant to ever try it again being it was the first time I have ever invested. Very irritated and Sooo disappointed!

    Reply

  • Avatar
    Stanley

    June 5, 2019 at 12:08 pm

    Oh boy more trouble
    NEWS
    SEC Files Subpoena Enforcement Action Against a Network of Cannabis Businesses for Failure to Produce Documents in Investigation

    Litigation Release No. 24489 / June 4, 2019

    Securities and Exchange Commission v. Covalent Collective, Inc., Civil Action No. 1:19-cv-03721 (N.D. Ill., filed June 4, 2019)

    The Securities and Exchange Commission (“SEC”) announced today that it filed a subpoena enforcement action in the U.S. District Court for the Northern District of Illinois against Covalent Collective, Inc. f/k/a Doyen Elements International, Inc. f/k/a Advantameds Solutions, Inc. (“Doyen”) for failure to produce documents in an investigation.

    The SEC’s application alleges that Doyen, through its founder, Geoffrey Thompson, may have violated the registration provisions of the securities laws by engaging in an unregistered offering of securities, and may also have made misleading representations to investors and potential investors about the operations, acquisitions, and projected stock price of Doyen and related entities.

    As part of its investigation, the staff in the SEC’s Chicago Regional office served Doyen with a document subpoena on October 24, 2018. The SEC’s application alleges that Doyen repeatedly refused to produce any documents in response to the subpoena, notwithstanding multiple efforts by the SEC to secure its compliance.

    The SEC’s application seeks an order from the federal district court compelling Doyen to comply fully with the subpoena. The SEC is continuing its fact-finding investigation and, to date, has not concluded that anyone has violated the securities laws.

    Reply

  • Avatar
    Mark

    June 12, 2019 at 10:53 am

    Stanley. Seemingly yes. How-ever, we have to remember that there was some confusion in regards to the break up of the “Doyen” name. One would have to believe that Covelant Collective f/k/a Doyen International will promptly reply to the SEC and put this to rest. Should G.Thompson have dotted his i’s and crossed his t’s a bit more, Perhaps? But as someone posted earlier , there is no book written on this and it is confusing. As far as I’m concerned it is a high risk investment that plays into a buyer beware as mentioned earlier. Maybe the SEC should look into Reach Genetics f/k/a Doyen Elements
    as they seem to be holding a box of rocks.

    Reply

  • Avatar
    Ernest

    June 13, 2019 at 9:28 pm

    I did additional research this geoff Thompson and found out his home in Chicago is in foreclosure and his real estate license has been suspended for failure to pay taxes. Oh god help us!!!!!!!!!

    Reply

    • Avatar
      Thomas

      June 15, 2019 at 11:04 am

      I am also a disgruntled investor, i too have been researching and researching and what i found made my stomach drop.. I found out that Covalent recently failed on all the contracts for the Colorado 16 companies. So everything that Covalent is structured around is gone!! I reached out to the Colorado 16 guys and it is confirmed. 20k down the drain… Geoff T is a scam artist!!

      Reply

  • Avatar
    TINMAN

    June 14, 2019 at 11:02 am

    NOT HAPPY!! I knew that i should not have invested in this company..i am also a shareholder, unfortunately… i have been doing a lot of research on Doyen, Doyen international, Covalent Collective and Reach Genetics. I called The number on the Covalent website and sat on hold for 20 minutes before someone finally got on the phone, just to Lie directly to my face and told me to contact Reach Genetics ( He couldn’t get me off the phone fast enough) .. I have 20 grand in with this crook, so i finally talked to someone that spoke some truth, my stomach dropped when i learned that Covalent has failed on the contract for Colorado 16( which is everything that Covalent is Structured on, and why i decided to invest in the first place), and that their CFO and COO quit. I felt like i needed to get this information out to fellow shareholders and am completely on board for a class action suit, although i don’t believe there is anything left of any of the investors money. If anyone has anymore information please email me at tinsman.tom@yahoo.com

    Reply

  • Avatar
    Jack

    June 14, 2019 at 1:22 pm

    I am a attorney representing my client who bought advantameds shares and i cant honestly believe the length of bs this guy went through for 4 years. All i know now is the sec is involved and this guy is toast.

    Reply

  • Avatar
    gary

    June 14, 2019 at 4:42 pm

    SINKING SHIP!!!! I am also a disgruntled investor… gave $20,000.00 to this scam artist. I have been researching for weeks trying to find out where my money went to.. And to my dismay, i learned that Covalent Collective has defaulted on the contract for the acquisition of Colorado 16 ( the only real thing that CC had going for them).. If i were Geoff T. i would be fleeing the country!! If anyone knows how to get in touch with the Colorado 16 guys please call me @ 1-646-549-3262

    Reply

  • Avatar
    Luis Dominguez

    June 17, 2019 at 12:43 am

    Does anybody knows anything about this scammers? We lost some money too and wondering if they were put on trail or something? At least to know that they are not scamming people anymore…

    Reply

  • Avatar
    craig

    June 18, 2019 at 2:31 pm

    Did anyone here purchase advantameds or accelera shares from stan or russ at synergistic life services? My mother and i did should i be concerned because i know geoff thompson is involved with this company? Im being told everything is ok. We put our retirement money in those share

    Reply

  • Avatar
    Jack

    June 18, 2019 at 11:00 pm

    Yes you should be. if i were you i would contact your attorney with all the dociments and correspondence you have with the parties involved. I would also call the sec and make an inquiry and forward any information you may have with them.for their review.

    Reply

  • Avatar
    ken

    June 19, 2019 at 11:22 am

    Who has any information the geoffery thompson is involved with synergistic life services in Chicago?

    Reply

  • Avatar
    Frenchy

    June 20, 2019 at 1:22 pm

    Google it apparently he is the ceo and its some kind of retirement planning company. Might explain where he got some investors.

    Reply

  • Avatar
    The Truth

    June 24, 2019 at 9:40 pm

    I have known Geoff from Accelera, Synergistcs, Accelera, AdvantaMeds, Doyen and so many other companies. And here is the real deal, every single dollar he raises from investors goes into his pocket, and this has been the story for so many years. This guy has forged so many financial documents, he enters into these outrageous acquisition agreements that never close because he does not have the funds (this happened with Accelera, with AdvantaMeds, with Doyen, with Synergistic and so many other companies).

    His life scam partner Cynthia Boerum (Cindy Boerum) is his partner in crime. News flash, she has been so dead broke for about seven years, she has been living with her kids and her Mommy. She plays her role so well, she gets people to invest in Geoff, but then she gets crumbs from him because in any Ponzi Scheme, he has to put out money to people to satisfy them and avoid lawsuits and negative press.

    Well, when word got out and they burned to many people, this happens, and guess what, come July 2019, they will be back under a new name looking for new suckers.

    Funny thing is, Cindy is the most cold blooded of them, I bet she ultimately got all the money out of you all, Geoff just sets them up.

    Geoff and Cindy’s ONLY INCOME is your investment dollars, without your money, they have NO INCOME!

    Do not think you will ever see any of your money from them, in their over twenty years of scams, every single investor lost money, not a one made a single penny.

    I could go on for hours…….. the things I know would make you vomit in your mouth. Thankfully the SEC and Federal Law Enforcement has spoken to me, and they were floored with what I gave them, so I would not worry much about their futures in scamming.

    Reply

    • Avatar
      Michael

      July 3, 2019 at 11:41 am

      If this is the case then why has he not been imprisoned? There’s plenty of stuff you can find on the internet about him that paints him in the light you have described but I can’t figure out why he has continued to run apparent scams and he’s still a free man. Something doesn’t add up.

      Can you shed some light on that?

      Reply

      • Debra Borchardt
        Debra Borchardt

        July 3, 2019 at 4:43 pm

        I’m no legal expert, but my guess is that he settles with the SEC for the securities issues. The shareholder lawsuits get settled as well. But yes, it does seem like a repeated behavior that goes unpunished. Maybe the DOJ doesn’t pursue these smaller securities cases?

        Reply

      • Avatar
        The Truth

        July 4, 2019 at 5:20 pm

        Simple answers:

        1. Most of his victims are not internet / Blog posting Davy.

        2. He is a master of “kicking the can down the road”. He will continually drag investors along with new tales of getting their money back, or even making a return. Ask anyone on here what story they are on now.

        3. He changes out characters (new CEO, new Board Members), new acquisitions he pedals, and just drags you along forever with new stories.

        4. When the above fails, he will threaten you, if you write negative things or report him to the authorities, he guarantees you will lose your money, so no one does it.

        He knows the statute of limitations, and just drags you out. You cannot she him, he had no assets, so you just lose more money.

        Why do the Feds do nothing, they are, just these investigations take years, and his house of cards was now only big enough that the collapse was noticeable on their radar.

        Reply

        • Avatar
          Stanley8

          July 5, 2019 at 7:44 pm

          Wow truth you put it all in perspective

          Reply

        • Avatar
          Michael

          July 11, 2019 at 5:57 pm

          Hi Truth and thanks for all your insight. Can you tell me how you’ve been involved with Geoff over the years? You seem to have a long history with him and know a lot of details about his past. Are you also an investor that’s been duped?

          Reply

          • Debra Borchardt
            Debra Borchardt

            July 12, 2019 at 8:37 am

            I have no relationship other than as a journalist who saw something that just didn’t add up. We’ve spoken on the phone during interviews and met once in person also as part of an interview. I don’t invest in companies I cover.

  • Avatar
    Jack

    July 5, 2019 at 7:54 pm

    Anyone getting updates from geoff i not

    Reply

    • Avatar
      🤮

      July 8, 2019 at 9:47 am

      The last update was on June 27th. He usually puts them out every 4 to 6 weeks depending on the urgency of the new developments. We need to hear what is going on with Colorado 16. I would also like to hear from the CEO Gregorak.

      Reply

    • Avatar
      The Truth

      July 8, 2019 at 4:09 pm

      According to PACER (online case tracker for Federal Cases), he is set to go on trial here in July.

      Prediction, he settles for an astronomical civil judgment he (and the Feds) know he will never be able to pay, and will be subject to a lifetime ban of being a CEO of a public company or associating with a Financial Services Company, and most importantly not being able to solicit capital from investors.

      Ultimately, he will avoid all of this by finding unwitting puppet that will do his dirty work in the future, so nothing really changes but the names and faces.

      You know a settlement will be the case as he is in active foreclose on his home, that thing is gone regardless, so why even try to save it. His judgment will not be able to be relieved by a bankruptcy due to its got elements of fraud.

      He will simply slither to a rental until he can Doop a few more people out of their life savings and sail off to some remote island somewhere.

      No way he goes to a Federal Trial, he would get caught lying and suffer perjury, and spend time in jail, plus the civil penalty would be insane.

      Any updates you get from Geoff at this point will never lead to any return on your money, let alone a dividend or profit share. You have a better chance of recovering your money playing the PowerBall than getting it from Geoff or any company he is associated with.

      Also, how Cindy Boerum continues to get away unscathed is beyond me. I am sure it was ultimately Cindy who roped most of you in at the end of the day. You should subscribe to PACER or Law360 and follow his case.

      Reply

  • Avatar
    The Truth

    July 9, 2019 at 12:41 am

    HEAR FROM BILL GREGORAk!?

    Did you take the time to search this guy’s background other than the bio they Fed you?

    Hmmmmm, his publicly traded company CyberEnergy Holdings, well that is in private litigation with the SEC (link: https://www.sec.gov/litigation/admin/2018/34-84249.pdf) and is dead broke, even the website is gone.

    Every company he has started / controlled is defunct, and if he was a successful businessman, why is he soliciting funds from you (successful businessmen who have performed for investors do not need to raise capital).

    I know you want to believe your money is not lost, but hello….. they have no income, no operating capital, the Feds are suing all of them, how can you really think you are going to get your money back? The Colorado 16….. yeah, it will close after these clowns raise the millions required to close, which will NEVER HAPPEN! Even if they go public, they still do not have investors to buy the shares.

    Reply

    • Avatar
      🤮

      July 9, 2019 at 11:15 am

      😩 ouch! Thanks ‘Truth’.

      Reply

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