Terminus Energy Inc., Emanuel Pantelakis, Danny B. Pratte and Joseph L. Pittera – Misleading Investors/Defrauding Investors

New Orleans stockbroker fraud attorney

Terminus Energy Inc. Allegedly Misled Investors Regarding Research, Development, and Profitability of Their Purported Fuel Cell Technology Business While Raising $7.9 Million from Investors

Terminus Energy Inc., a California-based Penny Stock Company, allegedly made misleading statements to investors regarding the research, development, and profitability of their purported fuel cell manufacturing business, according to recent SEC Documents currently under review by attorneys Joe Peiffer and James Booker.

Several Peiffer Wolf securities practice lawyers are investigating investment recovery options on behalf of investors in Terminus Energy Inc.’s alleged material misrepresentations.

Investors who believe they may have lost money over Terminus Energy Inc.’s alleged material misrepresentations are encouraged to contact attorneys Joe Peiffer or James Booker with any useful information or for a free, no obligation discussion about their options.

Terminus Energy Inc., the company and its officers, in the course of raising approximately $7.9 million from investors in Terminus Energy Inc., allegedly claimed to have a viable prototype capable of being sold and earning revenue, said SEC Documents report.

The Peiffer Wolf securities lawyers are currently investigating Patrick Golden’s private securities transactions.

Terminus Allegedly Neither Held the Fuel Cell Technology or the Funding to Match their claims, and Terminus Officers Allegedly Converted Substantial Sums of Investor Cash for Their Own Personal Use

Terminus allegedly did not have the fuel cell technology or the funding to match their claims, and Terminus officers were instead converting huge sums of investor funds for their own use, according to an SEC Complaint presently being examined by attorneys Joe Peiffer and James Booker.

Terminus also allegedly failed to disclose to investors that Terminus’s operations manager George Doumanis is a convicted felon who served time for securities fraud and was clandestinely acting as an officer of the company even though he was barred from participating in penny stock offerings, said SEC Documents note.

What is more, Emanuel Pantelakis also allegedly served on the Terminus board of directors even though he had been permanently barred by FINRA, the SEC reports.

Terminus’s CEO Danny B. Pratte and its former president, director, and legal counsel Joseph L. Pittera have also been charged in the SEC’s complaint, the SEC states.

Furthermore, Terminus also allegedly implemented unregistered brokers to make sales of its securities and paid them more than double the commissions than was disclosed to investors in offering documents, according to the SEC Documents.

Joseph Alborano has also been charged in the SEC’s Complaint with soliciting and selling investments for which he brought in more than $1 million in commissions, the SEC notes.

The U.S. Attorney’s Office for the Southern District of New York today also filed criminal charges against Pratte, Doumanis, and Pantelakis in a parallel action, the SEC reports.

Finally, the SEC’s Complaint seeks disgorgement of alleged ill-gotten gains plus interest and penalties as well as officer-and-director bars and penny stock bars, the SEC notes.

Securities Lawyers Investigating

The Peiffer Wolf securities lawyers often represent investors who lose money as a result of alleged material misrepresentations and are currently investigating Terminus Energy’s alleged investment fraud. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.

Investors who believe they lost money as a result of Terminus Energy’s alleged investment fraud may contact the securities lawyers at Peiffer Wolf, Joe Peiffer or James Booker, for a free no-obligation evaluation of their recovery options, at 8504-523-2434 or via e-mail at jpeiffer@pwcklegal.com or jbooker@pwcklegal.com.

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In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent blogs regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases.