User 428073

WexTrust's (Alleged) Fraud - What Are the Lessons For Investors?

Just so I get this straight:

4.5m - legitimate investment, Block III
1.5m - reserves, held by WexTrust
1.75m - operating reserves, held by WexTrust
0.3m - legal fees, managed by WexTrust
2.95m - commissions & fees to WexTrust

11m total goal - 4.8m to direct placement and legal, and 6.2m held by WexTrust, for fees and expenses, of which 3.99m was actually accounted for as being held by the company.

I don't know if the other 2.11 was already paid for legitimate expenses, was never raised or was mishandled. But there's a lot of explainable accounting being called fraud in this case.