Morally Bankrupt Communiclique Declared Financially Bankrupt
This Morning, in a Deleware Court, Communiclique declared financially bankrupt by a judge. Communiclique (AKA Clique & CliqueAPI) CEO, Founder and Board Member, Andy Powers did not show up in court as the judge had ordered. Based on the fraudulent evidence, the judge referred Andy Powers to the US Attorney’s office on criminal charges. Game On! Or Game Off! Or where the hell was Andy Powers? Let the Games Begin!
In addition, the judge declared Andy Powers, big shot, big-time business guy, master of the universe, financially bankrupt… maybe he can run for President?
It’s official Communiclique declared financially bankrupt. The newly assigned trustee now must begin the search for the fast disappearing assets. Here are some hints!
- Communiclique CFO Tim Lee’s Home – I’ve been told that Tim took money from the company to purchase his home. How did Tim buy a $1.5 million house before selling his highly leveraged home right after Communiclique closed on a funding round?
- How is Andy Powers, paying $35 thousand per month for a rental home? Find that account. Whoops! He’s been evicted and is being sued by the landlord for $69K in back rent.
- The Assets of Sabotage.VC
- Trustify Stock – Garbage
- LifeFuels Stock – Garbage
- ArmorText Stock – Trash
- Nexercise (DBA Sworkit) – This stock may actually be worth something
- Andy Powers Family Office – Empower
- Tim Lee’s Family Office
- Tim Lee was on the board of Ostendio… did he invest with Communiclique Money?
- Chairman of the Board, Ram Reddy’s assets including the Bellevue Conference Center (here him bragging about it here)
- Ram Reddy”s rental property – 824 North Wakefield Street, Arlington VA. Interesting tidbit… Crooked Danny Boice rented this home from Ram at one time and so did Andy Powers.
Most people knew Andy Powers was morally bankrupt, now it’s official, his company Communiclique Declared Financially Bankrupt. The company raised anywhere from $50 – $70 million. There is no doubt that Powers has falsified, valuation reports, financials, and evidence provided to the court. He is a criminal and as long as he’s kept from sneaking out of the country, he will be doing serious federal prison time. As for the other senior officers of the company, Tim Lee and Ram Reddy, it’s not clear how much they knew. What is clear is that the Chairman of the Board and CFO should have known that the sales numbers were fake and that investors were being misled.
By the way, Clique investors, here’s an example of how your money was wasted. Communiclique sponsored a hackathon for Gamers called GameJam and they produced a one our professional documentary about the event. I’ve edited that one hour down to just 3 minutes. In this clip, you’ll see Tim Lee, who is spending all his days pretending he has nothing to do with Communiclique and Andy Powers.
Communiclique’s technology was never really amazing or groundbreaking. When we sold Call Technologies to 3Com for $100 million (cash, not in exchange for worthless Communiclique stock) in 2001, we had this capability and had been selling it to 80 percent of the landline phone companies for 7 years. This whole scam was a house of cards.
See the order to assign a trustee which places the company in Chapter 7 Bankruptcy
See the motion of Communiclique’s Counsel, Neil Dignon, to Withdraw due to conflict over fraud (Link Here)
Assignment of Trustee Communiclique by Glen Hellman on Scribd