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PHILADELPHIA, June 1, 2023 /PRNewswire/ -- Berger Montague is currently investigating potential violations of the federal securities laws on behalf of investors in funds sponsored by Freedom Impact Consulting, LLC ("FIC") and related entities, Clean Energy Technology Association, Inc. ("CETA").
Eric N. Shelly ("Shelly") founded and controls FIC, which markets passive income strategies and tax mitigation tools to investors. Roy W. Hill ("Hill") controls CETA, a company that claims to build machines that enhance the marketability and recovery of hydrocarbons, referred to as carbon capture units ("CCUs"), which CETA purports to lease to major oil and gas producers.
Berger Montague's investigation concerns allegations that although Shelly and Hill represented to investors that monies invested in funds sponsored by FIC would be used to purchase CCUs, and that investors would receive returns representing a share of revenues earned from operating the CCUs, this investment scheme was a fraud.
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According to a complaint filed by the U.S. Securities and Exchange Commission, the investment operated as a "fraudulent scheme" because CETA has not received material revenues from CCU operations, and the quarterly distributions made to investors are sourced from other investors' capital. The complaint further alleges that, to conceal and perpetuate the scheme, Shelly and FIC have provided investors with false financial statements that reflect economic activity and investment returns that do not exist.
If you purchased funds sponsored by FIC and would like to learn more about our investigation, please contact Berger Montague: James Maro at [email protected] or (267) 637-3176, or Andrew Abramowitz at [email protected] or (215) 875-3015 or visit: https://investigations.bergermontague.com/freedom-impact-consulting/
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Berger Montague, with offices in Philadelphia, Minneapolis, Washington, D.C., San Diego, San Francisco, Chicago, and Toronto has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States.
Contacts:
James Maro, Senior Counsel
Berger Montague
(267) 637-3176
[email protected]
Andrew Abramowitz, Senior Counsel
Berger Montague
(215) 875-3015
[email protected]
SOURCE Berger Montague
Eric N. Shelly ("Shelly") founded and controls FIC, which markets passive income strategies and tax mitigation tools to investors. Roy W. Hill ("Hill") controls CETA, a company that claims to build machines that enhance the marketability and recovery of hydrocarbons, referred to as carbon capture units ("CCUs"), which CETA purports to lease to major oil and gas producers.
Berger Montague's investigation concerns allegations that although Shelly and Hill represented to investors that monies invested in funds sponsored by FIC would be used to purchase CCUs, and that investors would receive returns representing a share of revenues earned from operating the CCUs, this investment scheme was a fraud.
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According to a complaint filed by the U.S. Securities and Exchange Commission, the investment operated as a "fraudulent scheme" because CETA has not received material revenues from CCU operations, and the quarterly distributions made to investors are sourced from other investors' capital. The complaint further alleges that, to conceal and perpetuate the scheme, Shelly and FIC have provided investors with false financial statements that reflect economic activity and investment returns that do not exist.
If you purchased funds sponsored by FIC and would like to learn more about our investigation, please contact Berger Montague: James Maro at [email protected] or (267) 637-3176, or Andrew Abramowitz at [email protected] or (215) 875-3015 or visit: https://investigations.bergermontague.com/freedom-impact-consulting/
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Berger Montague, with offices in Philadelphia, Minneapolis, Washington, D.C., San Diego, San Francisco, Chicago, and Toronto has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States.
Contacts:
James Maro, Senior Counsel
Berger Montague
(267) 637-3176
[email protected]
Andrew Abramowitz, Senior Counsel
Berger Montague
(215) 875-3015
[email protected]
SOURCE Berger Montague
Filed Under: Business
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