fedup
New Member
Posts: 22
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Post by fedup on Sept 30, 2015 16:11:43 GMT
The Scuderi group is all BS. All investors including myself should come to the realization that Scuderi company is run by a family that has no business being in any type of engine or energy business. All the company's false promises over the years and yet some people believe they are going to get rich off this company. Really???
Last night's webinar is again a typical Sal Scuderi BS event!! They can't get any funding because once people take a good look at the company they realize it is all hype and no substance. The company is run by a family who 's method of business is trial and error. They refuse to share what they have done with investor money other than what the SCC found they did wrong.
I think it is time for investors to no longer sit back but we should get together and file a lawsuit to recoup our investments based on the fact that they repeatedly have lied to their investors.
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Sally
Full Member
Posts: 105
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Post by Sally on Sept 30, 2015 16:27:28 GMT
I believe you missed the boat on a lawsuit. There is or was a class action suit 2 years ago and not many investors jumped onboard. I guess we were still listening to Sal sing the praises of the investment and all the companies who were showing interest. Funny, every time a company got close to doing a deal with the SG they disappeared. Wonder what got them to walk away, the arrogance of management or the financials? We will never know.
Whatever....it's over.
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Post by vroom on Oct 1, 2015 17:27:13 GMT
what is the summary of the webinars?
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Sally
Full Member
Posts: 105
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Post by Sally on Oct 1, 2015 22:21:18 GMT
Summary is..............Were Screwed.....again.
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Post by vroom on Oct 3, 2015 0:45:56 GMT
It can't be that they said absolutely nothing?
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Post by jaketruth on Oct 3, 2015 13:35:02 GMT
I had the opportunity to invest in them and turned it down when Angelo said with a straight face that "we'll be bigger than Google" at an investor meeting at the Basketball Hall of Fame. I have no idea how this all ends. However, I DO think that the VW scandal is a bit good news for investors. The low-emissions diesel was a big competitive block to the Scuderi engine. But since it polluted 40 times more nitrous oxide than claimed, the Scuderi Engine starts to look better, relatively speaking. That said, the scandal involving millions of dollars worth of "loans" to mom and other family members, as well as the question of where the hell the $80 million went, lead me to question literally everything about this company, including its claims about engine efficiency and emissions.
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Post by vroom on Oct 5, 2015 14:40:21 GMT
Neil, why hasn't SWRI said boo about Scuderi in their exhaustive web site?
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Post by vroom on Oct 6, 2015 0:32:36 GMT
Oh - they put out something new recently?
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Post by vroom on Oct 6, 2015 0:33:11 GMT
That's great news
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Sally
Full Member
Posts: 105
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Post by Sally on Oct 6, 2015 10:03:14 GMT
Yea, the white papers discuss the pinging or knocking noise in the engine. Wish the SG mentioned that during the D raise.
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fedup
New Member
Posts: 22
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Post by fedup on Oct 6, 2015 13:01:15 GMT
It really doesn't matter what the Scuderi engine does or doesn't do the point is they have no idea what they are doing except they are pretty good with their false hype. Countless times Sal has said things were going to happen (latest third quarter IPO) and they never do. In the meantime they have been lining their pockets with investor money. Have never come forth with any financials as to where the 80 million plus has gone??? Now they need new investor money because they are broke. So where does that leave their investors? We was scammed and they should be locked up. But don't forget they are lawyers so they will walk......we are the stupid ones!
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Post by gman on Oct 6, 2015 19:25:50 GMT
Tirty days Mon...tirty days
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Post by jaketruth on Oct 11, 2015 16:33:44 GMT
Your information is quite inaccurate, the loans were not in the millions they were less than $500,000, and in my opinion justified. Second, SWRI a renown worldwide engine research company has confirmed thru thousands of hours of testing that the technology does reduce emissions heads above conventional engines. Third, the S.E.C. did a 3 year investigation of the SG turning every rock upside down, including every personal transactions for the past ten years. Why do you think only one member of the Scuderi family received just a minimal fine basically a slap on the wrists? From the SEC: "Between 2004 and 2011, Scuderi Group sold more than $80 million worth of securities through offerings that were not registered with the Commission and did not qualify for any of the exemptions from the Securities Act’s registration requirement. The company’s private placement memoranda informed investors that Scuderi Group intended to use the proceeds from its offerings for “general corporate purposes, including working capital.” In fact, the company was making significant payments to Scuderi family members for non-corporate purposes, including, large, ad hoc bonus payments to Scuderi family employees to cover personal expenses; payments to family members who provided no services to Scuderi; loans to Scuderi family members that were undocumented, with no written interest repayment terms; large loans to fund $20 million personal insurance policies for six of the Scuderi siblings for which the company has not been, and will not be, repaid; and personal estate planning services for the Scuderi family. Between 2008 and 2011, a period when Scuderi Group sold more than $75 million in securities despite not obtaining any revenue, Mr. Scuderi authorized more than $3.2 million in Scuderi Group spending on such purposes." www.sec.gov/litigation/admin/2013/33-9407.pdf$3.2 million to be exact. |
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Post by jaketruth on Oct 12, 2015 13:01:39 GMT
If it was so terrible, why was the fine only $100,000 and why was the SG able to continue to raise money? Citi Bank, J.P. Morgan and Goldman Sachs are only a few notable organizations that have received billons of dollars in fines and continue to operate business as usual. Don't ask me. Ask the SEC. I provided a direct quote from the SEC's cease and desist document. The reason that the too-big-to-fail banks continue to operate is because they are too big to fail. Scuderi is a microcap not traded on any exchange with no revenue and no discernible products that raised its $80 million mostly from locals in the Springfield area. |
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Post by vroom on Oct 12, 2015 19:13:32 GMT
If it was so terrible, why was the fine only $100,000 and why was the SG able to continue to raise money? Citi Bank, J.P. Morgan and Goldman Sachs are only a few notable organizations that have received billons of dollars in fines and continue to operate business as usual. Don't ask me. Ask the SEC. I provided a direct quote from the SEC's cease and desist document. The reason that the too-big-to-fail banks continue to operate is because they are too big to fail. Scuderi is a microcap not traded on any exchange with no revenue and no discernible products that raised its $80 million mostly from locals in the Springfield area. Neil, 41 North? Huh? Those paragraphs on various projects only reference Scuderi. There is not a single mention of a real company in those listings. Wht am I missing? |
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