BenedictGomez
Well-known member
When an organization is considered a club funds it pretty much gives the officer free rein when it comes to how/where money is spent. The fact that state regulators are involved in a situation involving a club is a huge red flag in my experience. I don't want to speculate too much but this is not good for Mr. Sullivan.
It's bizarre given AFAWK nothing criminal has/is being investigated. Were they perhaps tax exempt?
The Securities Commission is looking at the whole process from the initial offering, to the change to a club, and to all of the receipts and disbursements. There undoubtedly will be requirements of me when that process is completed.
Because this smells of embezzlement concerns, "speculation" or not.