- Report: #1106536
Complaint Review: Biolustre - San Antonio Texas
-
Author Not Confirmed
Why?
Biolustre
Bandera Rd San Antonio, Texas, USA
Web:
N/A
Categories:
Business Rating:
(0)
Tell us has your experience with this business or person been good?
Biolustre - Leonard Buchanan, Michael Mata, John Hodge Promise Company Will Gol Public! Shareholders were told the shares would go public within months of purchase. This was told to over 400 investors over a span of 3-4 years. Nothing has happened, and there is no money. Commissions were received by Hodge who had no license to sell, and bank records show the investors' money was spent and moved to different accounts. San Antonio Texas
We bought shares (75,000) in Biolustre Inc. (Hair Care Co.), with the promise that the company would go public, in just
a few months. Also, we were told the company would most likely be bought by L'oreal, or other high profile companies,
like JC Penny. More than 400 investors were pulled into the same lie, within 3 or 4 years. All were told the same lie, "in
just a short time, the shares would go public." We have bank records from 2 of those years showing where the money
was spent very quickly after it was wired to Biolustre. There are judgments against this company for fraud ($1M), and
lawsuits in progress. Yet management has continued to operate in the same manner, despite the shareholders' protests.
John Hodge, Longview, Tx sold us our shares and several other folks in the east Texas area with no license; Leonard
Buchanan is COO and would not step down, and has continued to live off the sales; no judgments have been paid on;
Michael Mata was voted out by the shareholders; the patent is questionable as to the sole ownership.
It is classic fraud, embezzelment, and illegal solicitation of investors. BEWARE
.
