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Silicon Valley Computer Executive Convicted of Defrauding Investors After Soliciting Money via Crowdfunding
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justtherealnews.com/2019/06/04/sil…
Silicon Valley Computer Executive Convicted of Defrauding Investors After Soliciting Money via Crowdfunding
@drawandstrike @catesduane @rising_serpent @almostjingo @tracybeanz @TheChiIIum @Quodverum_ @CarrollQuigley1
#JustTheRealNews #TheMighty200
justtherealnews.com/2019/06/04/sil…
CHICAGO — A federal jury in Chicago has convicted a Silicon Valley businessman of defrauding investors in his computer companies after soliciting and obtaining some of the money via crowdfunding.
JEFFREY BATIO, 50, of Santa Clara, Calif., was found guilty Friday of all 12 counts against him, including six counts of mail fraud and six counts of wire fraud.
Each count is punishable by a maximum sentence of 20 years in prison. U.S. District Judge Rebecca R. Pallmeyer set sentencing for Sept. 3, 2019.
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Batio owned and controlled two computer businesses, Armada Systems LLC and Idealfuture Inc. The companies claimed to produce a portable computer that would combine a laptop, tablet and smart phone into one device.
Batio owned and controlled two computer businesses, Armada Systems LLC and Idealfuture Inc. The companies claimed to produce a portable computer that would combine a laptop, tablet and smart phone into one device.
The 3-in-1 apparatus was known at various times by the names Stealth, IF Convertible, and Dragonfly Futurefon. The companies also claimed to produce a device called the Radian, which was billed as a multi-screen laptop computer.
