In the present report, events leading to a perpetrated fraud, grand-theft, threatening and extortion are spelled-out from two members of a LLC that used the proceeds resulting from a company asset for their own personal use against the LLC itself and two other members that did not benefit from 10 years of effort into building value into the company.
Events originated from the sale of Conceptual Speech, LLC main intellectual property assets for an amount of $415,000.00 to Intellectual Ventures while Mr. Paul J. Lagassey was the Manager of Conceptual Speech, LLC and he secretly maintained a bank account in the name of Conceptual Speech, LLC and directed the proceeds from such sale into that bank account. This resulted in making the proceeds from the sale unreachable to Conceptual Speech, LLC and its other partners and was used entirely at the discretion of Mr. Lagassey without regard to contractual agreements signed when he finally emptied the account to leave a balance of $21.
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