Network Trade, LLC – State of Arkansas Requests Cease and Desist Order | Goodman & Nekvasil P.A. May Recover Investor Losses
According to the State of Arkansas:
Network Trade is a Wyoming corporation with its principal place of business located at 3607 Lancewood Way, Fallbrook, CA 92028. Network Trade has never been registered with the Arkansas Securities Department in any capacity pursuant to the Act. Henry Cooper is the director of Network Trade.
Cooper contacted Arkansas Resident One (“ARI”) by phone in 2018. During this conversation, Cooper described an investment opportunity to ARI regarding the purchase and sale of Standby Letters of Credits (“SBLC”).
Cooper, on behalf of Network Trade, entered into the Agreement with ARI on December21, 2018.
The Agreement stated that ARI was to invest $50,000.00 as a cutting fee payment for the issuance and delivery of the SBLC. The Agreement called for ARI to transfer the $50,000.00 to a trust account held by Network Trade. According to the Agreement, after ARI wired the investment to the Network Trade trust account, the issuer of the SBLC would either monetize or sell the SBLC. Monetization would be seventy percent (70%) and the sale price would be fifty-two percent (52%) of the SBLC face value. The Agreement laid out how the payments and profit shares would work. Upon completion of the sale, Network Trade and ARI were to divide the profits of the sale pursuant to the Agreement. According to the Agreement, in return for ARI ‘s investment he ultimately would receive a payout of $83.33 million.
The Agreement was signed by ARI and Cooper for and on behalf of Network Trade as its director. Between December 2018 and February 2019, ARI wired three separate transactions totaling $50,000.00 to a trust account held by Network Trade.
To date, ARI has received no payments or returns on the investment made with Cooper and Network Trade.
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If you invested in Network Trade, LLC, Goodman & Nekvasil, P.A. may help you. Goodman & Nekvasil, P.A., a Clearwater, Florida, law firm with a national practice representing victimized investors, has recovered more than $180 million dollars on behalf of victimized investors.
All our cases are handled on a purely contingency fee basis by Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA. Kalju Nekvasil, Esq. has practiced in this area of the law for more than 35 years.
There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.
If you incurred investment losses in Network Trade, LLC and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.
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