CEO of EQCO2, Inc. (CLNO) Billy Barnwell, FRAUD Lawsuit and TRO
Posted in the Woodway Forum
Since: Sep 13
#1 Sep 29, 2013
Recently, in the District Court Clark County, Nevada, Crown Equity Holdings Inc. filed a legal Complaint against EQCO2, Inc., Discovery Carbon Environmental Securities, Inc. and William Barnwell.
The legal Complaint alleges breach of contract, nonperformance, FRAUD and misrepresentation.
The Complaint centers on an exchange Agreement between Crown Equity Holdings Inc., EQCO2, Inc.,(F/K/A Cleantech Transit, Inc.) and Discovery Carbon Environmental Securities, Inc., a Nevada corporation and William Barnwell.
Crown Equity Holdings is seeking a cancellation of the Exchange Agreement between Discovery Carbon Environmental Securities and Cleantech Transit, Inc. In addition, Crown Equity had notified the SEC, Finra and FBI of possible inappropriate solicitations, fraud and lack of transparency by EQCO2, Inc.(CLNO) CEO Billy Barnwell.
Read 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... .
On September 13, 2013, DISTRICT COURT JUDGE awarded to Crown Equity Holdings a TRO (Temporary Restraining Order) Against Discovery Carbon and EQCO2, Inc.(CLNO) CEO Billy Barnwell.( http://crownequityholdings.com/restraining_or... ). Arnold F. Sock is Secretary and CFO of CLNO; Shad Sullivan is Director of the company.
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...
The 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, mandated strict reforms to improve financial disclosures from corporations and prevent accounting fraud.
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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