Pinocchio Danny Boice Lies

Washington Business Journal Buys Danny Boice Lies

Danny Boice Lies

Hello! Knock! Knock! Washington Business Journal (WBJ)… anyone home? Danny Boice Lies. You know that…. right? You know he is a habitual, serial liar… right? Let me qualify that statement for legal reasons…. he’s only a liar if you consider constant untrue boasts and statements a lie. He’s only a liar if people who lie are liars. WBJ, you can only take Danny’s word as gospel if you ignore the fact that Boice has a better relationship with Mr Cranky than he has with the truth.

So if you know his relationship with the truth is weaker than Donald Trump’s relationship with a professional hair stylist, why would you take his word for it that he recently raised over $6 million for his Flim Flam Dumpster Fire, he calls Trustify?

Lies you say Mr Cranky? Isn’t that a little harsh? Well, let me see?

Method To The Madness

You know why Trustify made Jen Mellon a co-founder? My theory is to allow Danny and his co-conspirator Mellon to con Sogal Ventures into thinking Trustify, a company that has been accused multiple times by multiple sources of fostering a culture of sexual harassment, was a woman-founded, woman-run, woman-friendly company. Jen Mellon is a retroactive co-founder yet SoGal invested in November 2016.

Here’s the thing, yes Danny Boice lies. Yes, Danny Boice would lie if the truth sounded better. But often times he lies for a reason. Why would he lie about Harvard? Perhaps because he couldn’t hack it at a less competitive college and he thought that wouldn’t look good to investors when raising money. I’ve spoken with 3 people being pitched to invest in Boice run companies in 3 separate meetings in which Danny boasted about being a Harvard man.

So why do you think he would lie about raising serious money? My theory is because he is trying to raise money from unsophisticated stupid investors. Bragging that you raised real money makes timid investors more confidence to invest. Just like investing in a Harvard Man makes you more confident than investing in a James Madison drop out.

Is Trustify investing any cash in the Dumpster Fire? Or are investors financing Danny and Jen’s lifestyle?

How many Startup Founders do you know of, I’m talking about startup founders that have never had a successful exit that can afford:

  • $1,624,000 6,5K sq foot House with 6 Bedroom, 5.5 Baths
  • A Tesla
  • The time and the money to go on a Two Week Vacation to Italy and informing Company Employees “We are not to be bothered”
  • A blended family of 5 Children that can afford to send their kids to top notch private schools where tuition exceeds $20,000 per year.
  • to almost never be in the office… they are the absentee founder, CEO and retroactive pretend-founder

Folks…. people living like that either don’t need investors because they can fund their own company or… investors are funding the life style instead of the company.

Warning Signs For Investors

Several things going on at Trustify that would worry me as an investor and they are:

  • No CFO – Several ex-employees say that in Q1 of 2016 when the CFO questioned some of the financial machinations at Trustify, he left (pushed out or quit) and was never replaced (there may have actually been two CFOs) A company that raises $6 Million dollars should never be without a CPA as a CFO. A common sign of malfeasance is the loss and non-replacement of a CFO.
  • Constant Litigation Threats – Almost every employee who left Trustify, whether via voluntary or involuntary dismissals has been served with legal letters threatening them to keep quiet and not violate their confidentiality agreements. And then they threatened me and yet even though I did not retract and have doubled down on my scrutiny on Trustify they have avoided court where the result would most likely be a disaster.
  • Five Documented Different Law Firms – Can’t even keep an attorney. I have legal letters and threats that document that include:
    1. King and Spalding
    2. DLA Piper
    3. Conti Fenn & Lawrence
    4. Jackson Lewis
    5. Cooley LLP
  • Employee Turnover – Incredibly high. Including multiple C-level executives, Josh Steele – CFO (and one other CFO), Megan Drury – Chief of Staff, Steven Flack – COO, KK – VP Sales, KM – Content Marketing, Justin Guilder – VP, Legal and Regulatory, Elliot Susel – VP Product & Technology, Chris Collins – Product Manager, Dmitry Parnas – VP Engineering –  and any employee who had a soul (slide below is less than 1 year old and from 2016). Turnover is well over 100 percent.
  • Angry Vendors – Multiple comments from contractor PI’s and Vendors report that Trustify owes them money and won’t make payments. Is this why they have at least 5 different law firms representing them at one time or other… have they even had the temerity (a Harvard Word Danny, look it up) to stiff law firms?
  • The Support to Detractor Ratio – Usually when I write a critical post, there are a number of people who speak out in support of the companies that I covered. In the case of Trustify, I have not had one person push back on the criticism and I have had over a dozen offering financial support, editorial support, background information and applause.
  • Living High On The Hog – When a startup founder and retroactive-cofounder are living the high life and not investing millions alongside other investors it deserves closer scrutiny.

Summary

So why the hell did the Washington Business Journal report that Dumpster Fire, Trustify raised $6.59 million from undisclosed investors on July 11th?

Knock…. knock… Andy Medici… you’re better than this. You know you must verify every word that comes out of Danny’s mouth. How many companies do you know of that have raised more than $3 million dollars from unnamed sources? Why are the investors not standing up and admitting they invested? Are they embarrassed? Are they laundering Russian Trump Campaign contributions? When someone is a confirmed liar… you can’t just print their fantastic claims just because they filed a form with the SEC that proves nothing.

Don’t perpetuate falsehoods. When someone has proved that their word is unreliable…. seek proof before you aid and abet their maleficence.

(Note: Danny and Jen, you are welcome to comment here and I won’t edit your comments. If you would like to send a response that I post separately I will post that unedited. Finally, if you can send me any documented proof or convince me that I have erred, I’ll gladly retract the errors and apologize in public for them.  If you prefer to contact me via registered mail, you might want to get that done quickly because I’m about to be out of the country for a few weeks!)