Ram Reddy Master Criminal with Andy Powers

Ram Reddy, who is this guy? When I published the post, The Startup DCTech Crime Family, I was surprised by the pushback on naming Ram Reddy the Godfather. Reddy has spent a long time creating the image of a legitimate businessman. Since that post, additional information, a civil lawsuit confirms my suspicions. The suit (see link Clique - Donahue v. Communiclique - Complaint) seeks actual and punitive damages and alleges constructive fraud in the inducement in the purchase and acquisition of stock in CommuniClique (dba CliqueAPI), alleging Ram Reddy and Andy Powers defrauded the plaintiff. For some inexplicable reason, the suit fails to name the company's former CFO, Tim Lee. The suit alleges that since 2006, Communiclique (DBA CliqueAPI) raised $23 million in equity through the offer and sale of stock shares to about 90 investors. The plaintiff alleges that Andy Powers, the CEO of the criminal enterprise CliqueAPI, posited that the company would end 2016 with revenue between $120 to $125 million. Powers claimed key customer wins included Uber, FedEx, Wilmer Hal, and Airbnb. Powers and by implication, Chairman of the Board member Ram Reddy and CFO Tim Lee reported 2015 revenue in excess of $71 million. While in fact, the...

Driven Forward DCTech 2019 Gift Calendar

What's the perfect holiday gift for DCTech Startup Fans? It's the Mr Cranky, 2019 Gift Calendar! Feel free to print this out and make your own or if you prefer, you can contact me and order your officially printed version. Printed, bound and sent to your address for just $19.99. Want to order one, contact me here. Tell me how many you want and I'll be in touch. Remember, if you'd like one, contact me here!...

Joanne Boice’s Case Against Danny Boice, Trustify

People ask me what Danny's beef with his ex-wife has to do with the alleged fraud at Trustify. Here's the thing. Danny has started a lawsuit against his wife but dropped it when he was ordered to comply with his ex-wife's request for discovery. That discovery request asked for financial information on Danny Boice, Trustify and other information. Danny dropped the case, in my opinion in order to keep his financially cooked-books under wraps. His ex-wife, however, countersued and the court ordered that Danny produce the financials. Danny defied the court and still didn't comply. What is Danny Boice hiding? Why has he gone from suing his ex-wife for full custody of his children to putting himself in jeopardy of losing any custody of his children? For those of you interested in what's happening with Danny Boice, Trustify. Months ago, he sued his ex-wife Joanne for full custody of their children. I believe Danny is using the cash from his investors to harass his ex-wife. It wasn't bad enough that he cheated on her with her best friend. Abandoned her. Left her destitute by lying about his financial condition in order to pay a bare minimum of child support. He wanted...

Executive Coaches Light Bulb Whoopass

World of #DCTech Update

Hi, #DCTech Mr. Sunshine here with a World of #DCTech Update. If you've been reading DCInno then you probably have no idea what's happening in the startup community in this town so it's time for a #DCTech update on what's really happening. Social Tables - The big news is a sweet exit for Social Tables. Congratulations Dan Berger on an exceptional job. The deal should certainly be labeled a win returning 7X to most investors. This investor is very happy. I'm sure the VCs are pleased and yet not ecstatic because the deal falls short of the 10X plus target of most investors. Yet as a #DCTech Update, this is a big win and a cash deal at that! This is a glass fully full as far as I'm concerned. Trackmaven - The Trackmaven "merger" on the other hand...

The Washington Post Non-Washington Business Coverage

The Washington Post has been asleep at the wheel in terms of covering the Startup world of DC. Granted, the startup world of DC has been comatose for some time. But while there are criminals and thieves plying their craft in DC, The Washington Post, is mum. But on October 12, 2018, the Washington Post's, Antonia Noori Farzan, woke up and penned an article about a minor crook in the Washington Suburbs of Fall River, Massachusetts. A DC suburb if 353 miles and a 5 1/2 hour drive is a commute. Yes, the paper which barely covers what is happening in business in DC didn't miss an opportunity to cover the curious inconsequential case of the 23-year-old Mayor-Elect of Falls River. The article: Elected mayor at 23 in struggling Fall River, Mass., Jasiel F. Correia II had the makings of a rising star — until Thursday (see link) As the post reports, "early Thursday morning, federal agents arrested Correia on charges that he stole almost a quarter of a million dollars from seven people who had invested in his start-up." Yet when local DC-based startup Comunniclique founder Andy Powers was found guilty of bilking local investors out of over $10 million dollars (which by my...

Attention Trustify Investors

Attention Trustify Investors: I have a treat for you. Want the next best thing to audited books on your investment in Danny Boice and Jen Mellon's dumpster fire FlimFlam, doing business as Trustify. Attention Trustify Investors: Danny Boice needs you to dump more, I mean invest more of your cash in Trustify so he can maintain his lifestyle. Attention Trustify Investors: Do you have an accounting of what the assets in which you invested? Check out this rental: https://laricks.com/property/10653422 See this home? You paid for it. Your investment went in for the down payment and is paying the mortgage and now that Danny and Jen have spent the bulk of your money on houses, cars, NetJets, and a new $150K boat in July. He has to rent this out...

All Eyes on Jonathon Perrelli and Fortify

So there's this guy in town (DC) who likes to play dress up. While all the other kids were playing Cowboys and Native Americans, this guy dressed up like he was a Venture Capitalist.  I'm talking about Jonathon Perrelli and Fortify. Back in the day, he played big venture capitalist boy. Today, all the other kids are playing astronaut, but little Jon is playing big-time CEO of a hot, water-bottle startup (not hot water but a hot startup and regular water). Nine years ago, there were some people in town who gave little Jonny P, real money which he spread around DCTech like cash was apple seeds and little Jon was Jonny Appleseed. Dressed up like a VC, he indiscriminately spread the cash randomly with no thesis, strategy or plan, throwing some here and there. Ninety percent of JP's investments were or are dogs. But just like a blind squirrel...