A stipulation was signed today by the U.S. Attorney's office, David Feuerborn, and Thomas Jennings where Tom and Dave admit to using funds in the bogus EcoLogic bank account to pay $20,660.67 to an interior decorator that did work at the house of Thomas Jennings. This is definitive evidence that Dave and Tom used investor money in the bogus EcoLogic bank account for their personal extravagances.
Recap: A company called Eco-Logic was purportedly building a machine that cleaned oil sands. Eco-Logic (spelled with a dash) is a real company. Tom and Dave created a Wells Fargo bank account called EcoLogic (no dash) to deceive investors into thinking that investor money was going to the real company that was purportedly building the machine. Instead, they were using that money to buy cars, RVs, and interior decorating, etc. ESS investors can use this Stipulation to prove that they defrauded ESS if we file a civil lawsuit against Feuerborn and Jennings. Freestone can probably use this stipulation as well to show that these guys have a history of using deceptive tactics to deceive investors.
-ESS Investor
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