- Report: #1436486
Complaint Review: Prescott Capital - Tulsa Oklahoma
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Prescott Capital
1924 S Utica Ave Tulsa, 74104 Oklahoma, United States
Web:
Prescottcapital.com
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Prescott Capital Phil Frohlich Investment loss, Securities Fraud Tulsa Oklahoma
Phil Frohlich of Prescott Capital made false statements to the SEC in filings regarding 4licensing Corporation, formerly 4kids Entertainment. In addition, Phil Frohlich of Prescott Capital conspired with other large shareholders to move 4licensing Corporation to Oklahoma in order to file bankruptcy, so that the group could make a low bid on the assets under the radar. Vendors and other accounts were stiffed, while the average shareholders got zero.
One year before the bankruptcy, Phil Frohlich solicited others to vote against Bruce Foster and Duminda Desilva at the annual meeting. However, Phil Frohlich and Prescott Capital did not vote their shares. This allowed Bruce Foster to remain, becoming the sole board member soon after. Bruce then drained the companies funds before handing the keys to Phil Frohlich and Prescott Capital, who quickly moved the company to Oklahoma, filing bankruptcy, and wiping out everyone else with the low bankruptcy bid.
Don't get involved with Phil Frohlich or Prescott Capital. Phil tries to hide behind his Kaiser association, and self proclaimed "top of his class" academic record. The facts are that he is not a success, played a huge role in causing investor losses in 4kids Entertainment and 4licensing, and cannot be trusted.
