Michael Liberty, the Founder of Fintech Startup Known as Mozido, Inc., Allegedly Ran a Fraudulent Scheme to Dupe Hundreds of Investors to Sink Money into His Shell Companies

Michael Liberty, the founder of a fintech startup which is now known as Mozido, Inc., allegedly orchestrated a fraudulent scheme which purportedly duped hundreds of investors into investing money into his shell companies rather than Mozido, according to an SEC Complaint under review by attorney Paul Scarlato.

Attorney Paul Scarlato, of the Goldman, Scarlato & Penny law firm, is investigating activity related to Michael Liberty’s alleged investment fraud. Investors who believe they may have lost money in activity related to Michael Liberty’s alleged investment fraud are encouraged to contact attorney Paul Scarlato with any useful information or for a free, no obligation discussion about their options.

Michael Liberty allegedly worked in conjunction with several accomplices, including his wife, Brittany Liberty, his cousin, Richard Liberty, Paul Hess, and attorney George Marcus, according to the aforementioned Complaint. The Liberty crew allegedly convinced investors to buy unregistered interests in shell companies controlled by Michael Liberty that reportedly owned transferrable interests in Mozido, the Complaint reports.

In truth, however, said shell companies either did not own, or were not allowed to transfer, interests in the company, the Complaint states. Furthermore, Michael Liberty and his aforementioned accomplices allegedly made false statements to investors regarding Mozido’s valuation and finances, the amount Michael Liberty had personally invested in Mozido, and the use of their funds, the Complaint notes.

Liberty & HIs Crew Allegedly Executed a Series of Transactions Wherein they Implemented Investors’ own Money to Water Down Their Interests & Traded for Securities Worth Less

Michael Liberty and the aforementioned accomplices then allegedly later executed a series of transactions wherein they used investors’ own money to heavily water down their interests and then purportedly duped investors into trading securities for those worth more than 90% less, according to the aforementioned SEC Complaint under review by attorney Paul Scarlato.

Liberty and the aforementioned individuals allegedly violated the anti-fraud and registration provisions of the federal securities laws, according to the SEC. The Complaint, specifically, also alleges that Michael Liberty, Brittany Abbass Liberty, Richard Liberty, Hess, Marcus, Brentwood Financial, LLC, BRTMDO Investments, LLC, Family Mobile, LLC, and Mozido Invesco, LLC, purportedly violated Sections of the Securities Act, the SEC Complaint notes.

Finally, the SEC Complaint alleges that Hess and Richard Liberty violated Sections of the Exchange Act and  Xanadu Partners, LLC has been named as a relief defendant, according to the SEC.

Securities Lawyer Investigating

The Goldman, Scarlato & Penny law firm represents investors who lose money as a result of investment-related fraud or misconduct and are currently investigating Michael Liberty’s alleged investment fraud . The firm takes most cases of this type on a contingency fee basis and advance the case costs, and only gets paid for their fees and costs out of money recovered for clients. Attorney Paul Scarlato, a securities lawyer has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions, and has helped recover tens of millions of dollars on behalf of investors.

Investors who believe they lost money as a result of Michael Liberty’s alleged investment fraud may contact attorney Paul Scarlato for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at scarlato@lawgsp.com, or through the contact form on this webpage.

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