Name and Shame
Name and Shame

CURATIVE BIOSCIENCES (HEALTHIENT INC) REVIEW

Complaint
#5YDPN

This complaint was posted on NAS on 6th Jan, 2021 and is a permanent record located here: https://www.nameandshame.com/curative-biosciences-healthient-inc-5YCVT/microcap-fraud-scheme-id5ydpn .

NameandShame Author
Stocks & Bonds News
4th Jan, 2021

A Microcap Fraud Scheme!

Today, The Smart Investor Feed brings you another morally reprehensible fraud.


Curative Biosciences (Healthient Inc) has been seized/arrested by the U.S. Securities And Exchange Commission (SEC). Shocking right?


We weren’t expecting this as well, but these scammers are getting smarter by the minute, making it harder for us to identify.


Such swindlers seem to be booming in numbers lately. This case is kind of interesting, why don’t I show you why:

Full Report On Curative Biosciences (Healthient Inc)

On October 26, 2020, the U.S. District Court for the Central District of California entered a final judgment, following a favorable verdict for the SEC at trial, against microcap issuer Curative Biosciences, Inc., former chairman William M. Alverson, and former CEO Katherine West Alverson for making false and misleading statements to conceal their unregistered sales of company stock.


The SEC's evidence at trial showed that the Alversons directed Curative Biosciences to issue shares to third parties under the pretext that they were in payment for services rendered or in discharge of debt. In fact, the shares were to be sold in the market to unsuspecting investors, and over $4 million in proceeds was routed back to the Alversons for their personal use. The jury found that Curative Biosciences and the Alversons violated the registration requirements of Section 5 of the Securities Act of 1933 and the antifraud provisions of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and that the Alversons were liable for Curative Biosciences' violations as both control persons and aiders and abettors.


The final judgment permanently enjoins the defendants from violating these provisions and orders the Alversons to pay $847,851 in disgorgement and prejudgment interest on a joint and several basis and to each pay a $640,000 civil penalty. The court imposed permanent officer-and-director and penny stock bars against the Alversons, as well as conduct-based injunctions prohibiting them from participating in the issuance, offer, or sale of any security except securities sold on a national exchange for their own accounts. The judgment also ordered relief defendants Northeast Capital Group LLC and Panacea Holdings, Inc. to pay, on a joint and several basis with the Alversons, their proportionate share of the disgorgement and prejudgment interest.


In 2018, a consent judgment was entered against defendant Steven G. Patton, who cooperated with the SEC and assisted the investigation and litigation. With the entry of the judgment against Curative Biosciences and the Alversons, the SEC's litigation has concluded.


Conclusion: Curative Biosciences (Healthient Inc) Is A Fraud

The report on SEC clearly suggests that Curative Biosciences (Healthient Inc) never had any intentions to do honest business or provide helpful services. Main intention behind all their actions was to take advantage of the honesty & gullibility of people and scam them. It would be an understatement to call this a mere fraud, this one is a scandal.


If you feel like you are a victim of this scam, then I recommend contacting a law firm and consulting with them about a lawsuit. Companies & firms pay huge reprimands to settle serious lawsuits.

Help Us Fight These Criminals

Do you have evidence against Curative Biosciences (Healthient Inc) or one of their associates, then please post it here. These criminals rely on their witnesses’ & victims’ silence, if you speak up, then they get exposed and punished for their horrific acts. I started The Smart Investor Feed on this site with only one purpose; to become a nightmare for the financial frauds in the country. I try to post often, so you can bookmark my profile for regular updates on frauds & con-artists.


Full Disclosure: We sourced this piece of information from the SEC database


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