Secretary of State Jay Ashcroft’s Securities Division ordered Thomas Casey, Dennis Di Ricco, Cynthia Wade and their company Golden Genesis Inc. to cease and desist after they allegedly committed fraud in offering and selling unregistered securities to seven Missourians.
Between April 4, 2016, and Sept. 18, 2019, Golden Genesis Inc., a Nevada corporation operating out of California, allegedly issued more than $9 million in unregistered, non-exempt securities in the form of promissory notes through a Las Vegas-based unregistered broker-dealer, Retire Happy LLC.
Unregistered securities were sold to more than 240 individual investors across the country, including a total of seven Missouri investors from St. Peters, Pleasant Hill, Crane, Hillsboro, Independence and Catawissa.
The company lured investors with promises of high returns and used sales materials containing false and misleading statements regarding plans to establish and operate blood centers under the trade name NuPlasma.
In reality, the company employed a Ponzi scheme using investor funds to pay prior investors their purported returns. As a result of the scheme, many investors, including the seven Missouri residents – four of whom were elderly at the time of their investment – sustained significant losses on their investments.
“Don’t be persuaded by flashy brochures and elaborate presentations,” Ashcroft said. “Always check out anyone who solicits investment opportunities before parting with your hard-earned money. If it seems too good to be true, it probably is. When in doubt, contact our office before investing.”
The division ordered Casey, Di Ricco, Wade and their company to show cause why they should not be ordered to pay restitution plus interest, civil penalties and investigation costs totaling more than $1 million.