EQCO2 (CLNO) CEO Billy Barnwel, Legal Complaint for Fraud and Misrepresentation
Posted in the Matthews Forum
Since: Sep 13
#1 Sep 27, 2013
Crown Equity Holdings Inc.(CRWE) was awarded a TRO (Temporary Restraining Order) against Discovery Carbon and EQCO2, Inc.(CLNO) CEO Billy Barnwell from a judge on August 13, 2013 in Las Vegas Regional Justice Court.
The court ordered TRO effectively shuts down Billy Barnwell from engaging in any activity that might be damaging to EQCO2, Inc.(CLNO) shareholders.
The TRO was awarded related to an ongoing Fraud, Misrepresentation, Non Performance & Breach of Contract lawsuit between Discovery Carbon, EQCO2, Inc., Billy Barnwell Vs. Crown Equity Holdings Inc. and Zaman & Co that is based on an Exchange Agreement.
You can find the Entire Lawsuit at ( http://crownequityholdings.com/CRWE_vs_EQCO2.... ) with the Case No. A-13-687800-C ( http://crownequityholdings.com/CaseDetail.asp... ) and Current SEC Filings at http://crownequityholdings.com/sec_filings.ht...
One of the actions in the TRO is to prevent EQCO2, Inc.(CLNO) CEO Billy Barnwell from issuing more shares to unsuspecting investors and diluting the company even more.
The TRO also effectively locks him out of the corporate bank account and stops any and all transactions and issuance of stock certificates at the transfer agent that handles EQCO2′s stock transfers.
You can find the TRO (Temporary Restraining Order) awarded to Crown Equity Holdings Against Discovery Carbon and EQCO2, Inc.(CLNO) CEO Billy Barnwell (among others) at http://crownequityholdings.com/restraining_or... . Arnold F. Sock is Secretary and CFO of CLNO; Shad Sullivan is Director of the company.
SARBANES-OXLEY ACT 2002
An act passed by U.S. Congress in 2002 to protect investors from the possibility of fraudulent accounting activities by corporations. The Sarbanes-Oxley Act (SOX) mandated strict reforms to improve financial disclosures from corporations and prevent accounting fraud.
On Sept 16, 2013 EQCO2, Inc.(CLNO) CEO Billy Barnwell and CFO Arnold F. Sock signed off on the companys FORM 10-Q. The filing was received on Sept 23, 2013. The entire 10-Q can be found http://www.otcmarkets.com/edgar/GetFilingHtml...
Under the Sarbanes-Oxley Act Section 302 Corporate Responsibility for Financial Reports, EQCO2, Inc.(CLNO) CEO Billy Barnwell and CFO Arnold F. Sock could face significant penalties if they certified in the FORM 10-Q that the companys books are accurate when they are not.
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