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Originally Posted by _Richard_
you fell back on that
which is hilarious
you never explained how someone could go to jail on securities fraud, over something that is worthless.
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Because he bilked investors out of money on a worthless invention:
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Pantone?s troubles with the state, according to court documents, dated back to summer 1999, when he met Kaysville businessman Jon T. McBride. In January 2000, Pantone used his technology as collateral to secure a $200,000 investment from McBride, who says he represented a Bahamian investment operation called Lombard & Associates, a business of which there are no records on the Internet.
?My impression was [Pantone] was a poor inventor who was ready to rock and roll,? McBride says. Lombard & Associates put up $100,000 before deciding Pantone had not fulfilled his end of the agreement. McBride asked the friend at GEET who had originally introduced him to Pantone for an accounting of their money.
A few months after Pantone?s deal with McBride, Pantone offered stock in his GEET company to George Gladic. In August, Gladic put up $25,000 after Pantone promised he could get his money back after one year. Gladic has yet to see a cent from that investment. Pantone made no mention to Gladic of McBride nor the fact there was pending litigation against the inventor and another of his companies.
Court documents list four investors Pantone deceived or misled in connection with the offer and sale of investments in GEET, including at least one to whom he signed over the patent to his device. Their testimonies formed the basis for the state?s prosecution of the inventor for selling securities without a license, leading to his guilty plea for two second-degree securities fraud felonies.
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You love championing loonies and losers. A different hobby, but hey, whatever.
Do you send them money?
ADG