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The Power Company


Country United States
State Illinois
City Chicago
Address 1165 N Clark St #400
Phone 312-344-1056
Website http://www.thepowercompany.com/

The Power Company Reviews

  • Feb 10, 2017

google each persons name and learn the truth

WARNING: PATRICK FARAH,DOUG HARGONS AND CLIO LENTINI ARE MASTER LIARS AND RIP OFFS

WARNING! Patrick Farah, Cheryl Arts and Steven Brewer created The Power Company after stealing 5.6 million and more from unsuspecting investors and clients at Brewer Investment Group and Brewer Financial. Both individuals were thrown out of the financial industry due to their illiegal practices. If the Power Company contacts you. RUN! You've been warned! Read the following!

The Commission brought an action against the two principals of Brewer Investment Group, LLC (BIG), a financial services holding company, and its related entities centered on an alleged fraudulent offering. Specifically, the complaint claims that a fraudulent sale of unregistered securities issued by an Isle of Man entity was made by the defendants and that the proceeds were used to try an prop up financially struggling BIG. SEC v. Brewer, Case 10-cv-09832 (N.D. Ill. Filed Oct. 29, 2010). Defendant Steve Brewer is a 25% owner, CEO and chairman of BIG. Defendant Adam Erickson also owns a stake in BIG and serves as its COO. Following its creation in late 2000, BIG and its operating subsidiaries, including a registered investment adviser and a registered broker dealer, were profitable. Its financial condition changed. By January 2009, the firm and its subsidiaries were struggling financially. In 2008, BIG suffered a $3 million operating loss. In January 2009, the firm received a default notice on a $2.5 million loan. Beginning in June 2009, a PPM was prepared to sell notes issued by FPA Limited, an Isle of Man Company. From June 2009 through September 2010, FPA made two offerings of notes based on the PPM. One was for $15 million of three-year asset-backed promissory notes paying 8%. An additional $15 million offering of one-year asset-backed notes which paid 5% was also made. Over a period of several months, 74 investors purchased $5.6 million in notes through entities related to BIG. The PPM was materially false and misleading, according to the complaint, in that: Use of proceeds: It made misrepresentations regarding the use of the proceeds by failing to tell investors that over 90% of the funds would be transferred to BIG; Financial condition: Investors were not told the financial condition of BIG; Risk of investment: The PPM implicitly and explicitly represented that the proceeds of the offering would be used to procure collateral which would secure the notes ; and Defaults: The defaults of BIG on its obligations were omitted from the materials provided to investors. The complaint alleges violations of Securities Act Sections 5 and 17(a), Exchange Act Sections 10(b) and 15(c)(1) and Advisers Act Section 206. The case is in litigation. See also Litig. Rel 21715 (Oct. 29, 2010

**TO VIEW DOCUMENTS, GO TO CASE DOCUMENTS. FOR A COPY OF DOCUMENTS, CONTACT NFA'S INFORMATION CENTER.**COMPLAINT:On June 10, 2009, NFA issued a Complaint alleging that BFG failed to observe high standards of commercial honor and just and equitable principles of trade; failed to maintain required books and records; failed to maintain required capital; and failed to give notice. The Complaint also alleged that BFG, Brewer and Arts failed to supervise.ANSWER:On September 3, 2009, BFG, Brewer and Arts filed an Answer to the Complaint in which they denied the material allegations contained therein.DECISION:On April 15, 2010, BFG and Brewer were ordered to be jointly and severally liable for a $100,000 fine. In addition, neither BFG nor any other NFA Member of which Brewer is a principal shall be registered as an FCM in the future, and in the event that BFG or any other NFA Member of which Brewer is a principal is registered as an IB at any time after 30 days have passed following the issuance of the Decision, such NFA Member will only operate pursuant to a valid guarantee agree. Arts' status as a principal of an NFA Member is terminated upon the issuance of the Decision and Arts was ordered to never apply to be an NFA Member or a principal of an NFA Member or act in any capacity that would require her to be listed as a principal of an NFA Member at any time in the future. Arts was also ordered to pay a $5,000 fine. Narrative for 0300729 - BREWER FUTURES GROUP LLC**TO VIEW DOCUMENTS, GO TO CASE DOCUMENTS. FOR A COPY OF DOCUMENTS, CONTACT NFA'S INFORMATION CENTER.**COMPLAINT:On June 10, 2009, NFA issued a Complaint alleging that BFG failed to observe high standards of commercial honor and just and equitable principles of trade; failed to maintain required books and records; failed to maintain required capital; and failed to give notice. The Complaint also alleged that BFG, Brewer and Arts failed to supervise.ANSWER:On September 3, 2009, BFG, Brewer and Arts filed an Answer to the Complaint in which they denied the material allegations contained therein.DECISION:On April 15, 2010, BFG and Brewer were ordered to be jointly and severally liable for a $100,000 fine. In addition, neither BFG nor any other NFA Member of which Brewer is a principal shall be registered as an FCM in the future, and in the event that BFG or any other NFA Member of which Brewer is a principal is registered as an IB at any time after 30 days have passed following the issuance of the Decision, such NFA Member will only operate pursuant to a valid guarantee agree. Arts' status as a principal of an NFA Member is terminated upon the issuance of the Decision and Arts was ordered to never apply to be an NFA Member or a principal of an NFA Member or act in any capacity that would require her to be listed as a principal of an NFA Member at any time in the future. Arts was also ordered to pay a $5,000 fine.NOTICE OF SUSPENSION OF MEMBERSHIP:On November 8, 2010, BFG and Brewer were suspended from NFA membership for failure to pay $40,000 of the fine. Narrative for 0246323 - BREWER, STEVEN JOHN**TO VIEW DOCUMENTS, GO TO CASE DOCUMENTS. FOR A COPY OF DOCUMENTS, CONTACT NFA'S INFORMATION CENTER.**COMPLAINT:On June 10, 2009, NFA issued a Complaint alleging that BFG failed to observe high standards of commercial honor and just and equitable principles of trade; failed to maintain required books and records; failed to maintain required capital; and failed to give notice. The Complaint also alleged that BFG, Brewer and Arts failed to supervise.ANSWER:On September 3, 2009, BFG, Brewer and Arts filed an Answer to the Complaint in which they denied the material allegations contained therein.DECISION:On April 15, 2010, BFG and Brewer were ordered to be jointly and severally liable for a $100,000 fine. In addition, neither BFG nor any other NFA Member of which Brewer is a principal shall be registered as an FCM in the future, and in the event that BFG or any other NFA Member of which Brewer is a principal is registered as an IB at any time after 30 days have passed following the issuance of the Decision, such NFA Member will only operate pursuant to a valid guarantee agree. Arts' status as a principal of an NFA Member is terminated upon the issuance of the Decision and Arts was ordered to never apply to be an NFA Member or a principal of an NFA Member or act in any capacity that would require her to be listed as a principal of an NFA Member at any time in the future. Arts was also ordered to pay a $5,000 fine.NOTICE OF SUSPENSION OF MEMBERSHIP:On November 8, 2010, BFG and Brewer were suspended from NFA membership for failure to pay $40,000 of the fine.

Case Documents Summary NFA IDRespondentDocument Type 0262345ARTS, CHERYL ANNANSWER 0262345ARTS, CHERYL ANNCOMPLAINT 0262345ARTS, CHERYL ANNDECISION 0300729BREWER FUTURES GROUP LLCANSWER 0300729BREWER FUTURES GROUP LLCCOMPLAINT 0300729BREWER FUTURES GROUP LLCDECISION 0300729BREWER FUTURES GROUP LLCNOTICE OF SUSPENSION OF MEMBERSHIP 0246323BREWER, STEVEN JOHNANSWER 0246323BREWER, STEVEN JOHNCOMPLAINT 0246323BREWER, STEVEN JOHNDECISION 0246323BREWER, STEVEN JOHNNOTICE OF SUSPENSION OF MEMBERSHIP

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