She Beverage Co. ‘Scammed Investors for Casino Binges’
A California-based potable companionship that marketed drinks for women has been ordered to pay off $14 zillion inward penalties. That’s for allegedly scamming investors and spending the proceeds on casino binges and other sumptuousness items.
The She Beverage Co. describes itself on its Instagram varlet as a “celebrity-driven drinkable troupe that sells several products,” but the pageboy mysteriously lacks any famous person endorsers.
Last week, its 3 owners, Lupe L. Rose, 54, and Sonja F. Shelby, 60, of Palmdale, Calif. and Katherine Dirden, 48, of Lancaster, Calif., were given 30 days to repay the full amount past the U.S. District Margaret Court for the Central District of California.
$1.2M Gambled
The US Securities and Exchange Commission (SEC) filed a complaint against the ternion women inwards Sep 2021. The regulator claimed that 'tween 2017 and 2019, She Beverage raised more than $15 1000000 from o'er 2,000 investors.
She Beverage “falsely represented” that 30% of funding would depart to the purchase of beverages, according to the SEC filing. In reality, the women spent rough 2% on caudex while they splurged at least $7.5 meg on “cars and trucks, rent, sumptuousness retail goods and trips to casinos,” the complaint claimed.
Breaking some of that down, around $1.2 one thousand thousand was spent inward casinos, spell a further $180K went on octad cars and trucks for personal use. The defendants spent $100K on rent payments on a put up and $50K for opulence goods, such as Gucci and Louis Vuitton bags.
They falsely told investors they had in person ploughed millions of dollars into the venture, which had helped She Beverage build a brewery, according to the SEC filing. In fact, the installation was only if partially complete. They also claimed their bottled H2O was “proprietary” and “FDA-approved,” when it was not, according to the SEC.
The defendants farther “overstated and mischaracterized” the nature of the byplay by claiming tertiary parties were interested inward getting the troupe for hundreds of millions of dollars, whereas at that place were no such offers.
YouTube Response
In a gonzo YouTube picture response to the SEC filing, Lupe Rose described herself as “a paladin for women’s come on under attack.”
“Lupe Rose is not just a name; she’s a movement, an inspiration, a fearless leader who has dedicated her life to breaking the glaze ceiling for women in sports, entertainment and entrepreneurship,” Rose claimed in her video.
She denounced “the profound iniquity of racism, discrimination, and a targeted movement orchestrated by the Securities and Exchange Commission.”
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