Todays Growth Consultant Inc. dba The Income Store – SEC Files Complaint | Goodman & Nekvasil P.A. May Recover Investor Losses
According to the SEC Allegations
From at least January 2017 through October 2019, Today’s Growth Consultant Inc. and Kenneth Courtright have raised at least $75 million from more than 500 investors who executed “Consulting Performance Agreements”, in which TGC purports to provide investors with a minimum guaranteed rate of return, in perpetuity, on revenues generated by websites that Todays Growth Consultant Inc. acquires or builds for the investor and then develops, maintains, and hosts.
Today’s Growth Consultant Inc.’s Consulting Performance Agreements, which are sold through unregistered offerings that Today’s Growth Consultant Inc.’s and Courtright advertise on websites and via radio ads, purport to guarantee high returns to investors. In the agreements, Today’s Growth Consultant promises investors the larger of either 50% of their website revenues or a minimum annual guaranteed return (typically ranging from 13% to 20% of the initial investment amount) to be paid monthly, even if the investor’s website revenue is insufficient to pay that return. Todays Growth Consultant backs is guarantee with various representations, including that it is in “satisfactory financial condition, solvent, able to pay its bills when due and financially able to perform its contractual duties” and that it is “debt-free … with no accounts payable or loans outstanding.”
The reality is that Todays Growth Consultant’s business model has not been successful. It is not in satisfactory financial condition. It is not able to perform it contractual duties under Consulting Performance Agreements. It is crumbling under its debt obligations.
Collectively, from at least January 2017 through the present, investor websites have generated materially less revenue than the guaranteed amounts specified in Todays Growth Consultant’s Consulting Performance Agreements. From January 1, 2017 through at least October 31, 2019, investor websites generated approximately $9 million in advertising and product sales revenue. During the same period, Todays Growth Consultant paid investors at least $30 million.
Todays Growth Consultant’s financial statements and bank records show that, in classic Ponzi-like fashion, from at least January 2017 into at least May 2019, Todays Growth Consultant funded the gap between website revenues and Todays Growth Consultant’s guaranteed investor payouts primarily through the offer and sale of Consulting Performance Agreements to new or repeat investors.
Investors in Todays Growth Consultant Inc. May Recover their Losses with Goodman & Nekvasil, P.A.
If you invested in Todays Growth Consultant Inc, 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 Todays Growth Consultant, Inc. 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.
Todays Growth Consultant, Financial Advisor, Broker, Unsuitable Investment Advice, Investment Fraud, Churning, Misrepresentation and Omission of Material Facts, Elder Fraud, Unauthorized Trading, Theft, Selling Away, Unapproved Outside Business, Nationwide, SEC, Financial Advisor, Broker, Todays Growth Consultant