Investment Status
Company Operating Status
Founder
Willard L. Jackson Jr. - CEO
Robert Samuel Shumake Jr. - unsure of his role
Overview
Raised to Date
Industry
Fraud Alert
The SEC brought charges against the 420 Real Estate firm, it's founders, the investing portal Fundanna and it's parent TruCrowd. The charges were brought by the SEC in September of 2021. One of the issues presented is Shumake’s Criminal Past, having been convicted of felonies for obtaining money by false pretense in 2017 that theoretically should have been caught. Debra Borchardt wrote a detailed article on the SEC Action.
Firm was in Real Estate Investment in the Hemp Industry.
Investment Details
Shumake and Jackson raised $888,180 with Fundanna/Trucrowd. Shumake, Birch, and Jackson allegedly diverted investor funds for personal use rather than using the funds for the purposes disclosed to investors.
In January 2022, the company and Jackson consented to a permanent ban from violating certain securities laws, without admitting or denying the SEC’s allegations.
In December 2023 Jeffrey Carter and 20 other investors banded together to file a class action law suit with Anthony Bell Attorney at Superheroes At Law PC against the same group named by the SEC.
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