by the California Department of Corporations. John Garcia of Angel Strategies is the man who has pretended since at least 2004 to be an investor who earns profits for others. Yesterday we received a copy of the "Desist and Refrain" order that was served in the last couple of days to John Garcia.
The order basically says that Garcia has been lying to people while in the process of selling securities. The order focuses just on the lie that he had 200 investors who each invested $1 million into Angel Strategies. The Department of Corporations discovered no more than 39 investors and not one that had invested any amount close to $1 million. All of the John Garcia victims we have spoken with heard this lie plus many others. Some even saw this lie in print on a power point presentation.
To read the document for yourself, go to the Web site of the California Department of Corporations.
We know that several victims of John Garcia's fraud took time to file complaints and many victims spoke with the attorney in charge of the investigation at the Department of Corporations. This is what it takes to stop criminal behavior. The honest people have to raise their voices.
