United States Attorneys Office Of Eastern District Of California Vs Micheal Llamas
indictment, Loomis used Michael Llamas, 27, of Tracy, and Peter Woodard, 54, Ventura, to approach builders of new homes and developers of condominiums to purchase investment homes in bulk at substantial price discounts ranging from 30 to 50 percent off under the terms of an “option contract.” Llamas and Woodard had no financial ability and no intention of purchasing the homes; rather, the homes were to be sold to Loomis’s nominee members at full price. Loomis then arranged for his mortgage company, Nationwide Lending Group (NLG), to sell mortgage loans for the nominees with banks and other lenders at the full price of the homes without disclosing the large price discount. Lenders were thereby misled into advancing loans that far exceeded their lending guidelines. Also, the large option contract price discount was used to conceal the lack of required down payments by nominee buyers. Loomis, Llamas, and Woodard split what remained of the price discount after subtraction of the fake down payments and certain fees.....................................This is about 10% of the Indictment I pulled up...Why didnt "yahoo User" Tell fellow Investors about this. I thought these forums where for the people by the people! Not Too Carry out Deceit.
Llamas has been gone for almost a year now and those actions have nothing to do with the company all this information is irrelevant to MJNA. Keep up the good work! You will shed tears some day when this is over a dollar and you spent so much time and effort all for nothing and all you would have had to do to make it big in life would be buy a few hundred dollars worth of this stock and you can't even manage that... Quite sad if you ask me.
Really. Thats not what their press release said. Maybe you better read it Boy...SAN DIEGO, Sept. 17, 2012 /PRNewswire/ — #$%$ Inc. (OTC: MJNA), a leading hemp industry innovator, announces today that its Interim President and CEO, Michael Llamas, is taking a leave of absence effective immediately. According to the company, Mr. Llamas will be stepping down from his position in order to focus his attention on personal business matters that are entirely unrelated to MJNA.
The Company has appointed Ted Caligiuri as the new Interim President and CEO. Mr. Caligiuri has served on the Board of MJNA since the Company was acquired by Cannabank and has been instrumental to the overall development of the company, especially in the area of Hemp-based CBD production.
“We support Michael as he addresses his personal matters and look forward to his involvement with MJNA upon the successful conclusion of those issues.