Complaint Review: Larry Stanley - ReThink Inks Inc

Larry Stanley, purporting to being a CEO/fund raiser for a company he claimed had an innovative technology for printing inks, solicited friends, fellow church members, and even his Pastor for money to "fund" his company.  Everybody trusted him and he gave many assurances.  

He continually told people that big companies were interested in the company's technology and were going to either buy it out or make large purchase orders.  His stories went on for years, all the while issuing stock and raising money.  Only he really knows how much it all amounted to but it must have been many hundreds of thousands, maybe millions.  A couple of years ago, he claimed that one of the company's principals had stolen all the money and sold the technology, all without him knowing anything about it, he claimed.  He was the CEO - he either knew and it was all a scam or he was completely incompetent.  

He then claimed he was suing the person who had supposedly stolen the money but after spending a great deal of money on lawyers - he said - it went nowhere and all of us - the investors, lenders, friends and families - lost all the money we had given him.

There has never been any accounting of where all the money went but Stanley lived a pretty high life during this period - vacations, new cars, big parties, etc.  None of us can find any record of the lawsuit he claimed he filed, either.  The members of the church do not wnat to create a scandal that would hurt the church and anyway there is no proof of what he did.

This is a lesson - we all trusted him and invested because of all his claims about impending success.  In the end, we all lost it all and his life goes on.  Stanley is also co-host of a real estate radio talk show, building himslef up as a real estate guru.  Be careful!