EFTA00080705¶
Subject: Fw: Formal appeal for covered action 2015-016/ Knight Capital TCR & Appendix¶
SDNY, NY Supreme Court, NJ Judges et al. It truly takes a corrupt village. Mr Bustilloe/Miami SEC “SEC charges Executives of Network Infrastructure company with Accounting Fraud” SEC.gov | SEC Charges Executives of Network Infrastructure Company With Accounting Fraud¶
SEC.gov | SEC Charges Executives of Network Infrastructure Company With Accounting Fraud¶
The Securities and Exchange Commission today charged the former CEO and CFO of FTE Networks Inc., a network infrastructure company formerly based in Naples, Florida, with conducting a multi-year accounting fraud.¶
Mrs John “Rusty” Wing aka piled on to bring yet ANOHER fraud to the SDNY Courts Former CEO And CFO Of Public Telecommunications Company Charged In Manhattan Federal Court With Scheme To Defraud Investors | USAO-SDNY | Department of Justice¶
“Former CEO and CFO of Public Telecommunications Company Charged in Manhattan Federal Court with scheme to defraud investors”¶
let’s take a deeper dive into the money laundering shell FTE Networks fka Beacon Enterprise Solutions, Galaxy Specialities Inc, Suncrest Global Energy EDGAR Search Results (sec.gov)¶
The FTE/Beacon 2016 SEC reviewed 10K¶
https://www.sec.gov/Archives/edgar/data/1122063/000149315217005044/form10-k.htm¶
2015 Revenue 14,388,682¶
2016 Revenue 12,269,079¶
BUT¶
largest customer “M” was 52% of total revenue at 6,332,966 in 2016¶
WHILE customer “M” was 66% of Account receivable at 4,624,600¶
Revenue recognition????¶
Businesses included Focus Fiber, Focus Wireless, Jus-Com, and CrossLayer Inc.¶
the 2017 10k¶
https://www.sec.gov/Archives/edgar/data/1122063/000149315218005377/form10-k.htm¶
2017 Revenue $243,409,000¶
EFTA00080706¶
On April 20, 2017 FTE bought Benchmark Construction with “historical revenue in the $300 mil-$400 mil range. Benchmark’s business model focuses on the buildout of Interior commercial space for a client base that consists of the worlds most distinguished companies”¶
“we completed the acquisition of Benchmark, a leading provider of construction management services based in New York for $74,245,000.”¶
Quite the deal for an entity generating $300-400 million in annual revenue.¶
The FTE SEC reviewed 2018 10K¶
2018 revenue $384,755,000¶
https://www.sec.gov/Archives/edgar/data/1122063/000149315220008176/form10-k.htm¶
The 2019 SEC reviewed 10K¶
https://www.sec.gov/Archives/edgar/data/1122063/000149315220020612/form10-k.htm¶
2019 revenue 7,518,000¶
2018 revenue 15,103,000¶
So, Benchmark Construction purchased in April 2017 for $74 mil with annual revenue of $300-400 mil contributed to the FTE $ 243,409,000 mil in revenue in 2017 and $384,755,000 in 2018 revenue then disappeared???¶
why does the 2019 10K show 2018 revenue of just 15,103,000???¶
Read my TCR’s and correspondence: sham transactions. A vehicle used to create billions of worthless certs Usually through fraud convertible notes. Often assigned. Converted, dumped on the public by executing BD/MM who profit via illegal naked shorting. EXACTLY what happened here. But, wait there’s more!¶
F7¶
“Description of Business”¶
“FTE Networks Inc (collectively with its subsidiaries, “FTE” or the “company”) by and through its wholly owned subsidiary, US Home Rentals LLC is a MAJOR owner and operator of single family rental homes in Tier 3 and Tier 4 markets with 3200 rental home properties across the US…”¶
So,¶
“Telecom infrastructure” to “Commercial renovations” to “Major owner and operator of single family rental homes” in just 3 years. WOW!! What a “tranformation”. IF the ownership of 3200 rental homes is legit, HOW did they finance their purchase???¶
FBI Agent Sweeney, did they stop teaching money laundering at the FBI?¶
It’s obviously not taught in the SDNY OR SEC either.¶
Here’s a little pointer:¶
In 2009, Beacon did an SEC approved D offering for $1 million through Garden State Securities NJ and affiliates SEC FORM D¶
Interesting firm ala NETE/Mullen/AQR et al: Alexander Capital¶
GSS: Red Bank NJ. Bada Bing¶
GARDEN STATE SECURITIES, INC. - BrokerCheck (finra.org)¶
BrokerCheck - Find a broker, investment or financial advisor¶
EFTA00080707¶
BrokerCheck is a trusted tool that shows you employment history, certifications, licenses, and any violations for brokers and investment advisors.¶
According to the GSS/affiliates web page: they sell their orderflow to “wholesalers” like NITE¶
GSS/affiliates clear through Axos Axos Bought COR Clearing¶
Axos Financial, Inc. Closes COR Clearing LLC Acquisition (tradersmagazine.com)¶
Axos Financial, Inc. Closes COR Clearing LLC Acquisition¶
Axos Financial, Inc. (NYSE: AX) (Axos or the Company) announced that its subsidiary, Axos Clearing, LLC, has completed the acquisition of the parent company of COR Clearing LLC (COR Clearing) after receiving all required regulatory approvals.¶
The SEC knows COR (Axos) VERY Well¶
COR Clearing, LLC (sec.gov)¶
UNITED STATES OF AMERICA SECURITIES AND EXCHANGE COMMISSION SECURITIES EXCHANGE ACT OF 1934 ORDER INSTITUTING ADMINISTRATIVE AND CEASE-AND-DESIST PROCEEDINGS, PURSUANT TO SECTIONS 15(b) AND 21C 1934, MAKING FINDINGS, AND IMPOSING -SEC.gov | HOME¶
4 selling the shares and then wiring out the proceeds of the resale.”3 COR’s AML policies recognized since at least early 2013 that the foregoing DSW activity indicated a red flag.¶
Remember: the SEC revoked the FTE registration in 2014.¶
Kinda/sorta: a shell¶
UNITED STATES OF AMERICA (sec.gov)¶
the fraud Benchmark acquisition “revenue” used to “uplist” to the NYSE¶
you can take the money laundering shell out of the OTCM but you can’t take the OTCM out of the money laundering shell. Interim CEO of FTE: House rental company TODAY is a former EDNY “prosecutor”: Michael Beys¶
Agent Sweeney, Mrs Rusty Wing, Mr Bustilloe et al¶
EFTA00080708¶
$$23 million is just the beginning of this fraud. A KNOWN money laundering fraud kept up and running by the SEC for 21 years and counting. AND after being revoked in 2014 kinda/sorta Speaking of money laundering shells kept up and running by the SEC: AQR CIS,Delta,Urban Tea,Bit Brothers money laundering shell. Filed a $200 mil shelf in June 2021. Did a $22.5 mil direct offering last night. Stock down 47% today. Must be a WHOPPER of an “investigation”.¶
Cheers!¶
Christopher J Dilorio¶
Whistleblower Extraordinaire¶
From: Chris Dilorio <¶
Sent: Saturday, July 10, 2021 8:08 AM¶