..... This is when MGC turned up the heat and began to push Hobman and Connelly to do something with their failing ingredient, WGFE, which flopped in Australia under the brand name Ascend
. So Connelly goes looking for outside capital, but this time hes got a new spin on his old MET-Rx burn patient cona magic medicinal, bone-healing super-protein. Not really, just plain ole WGFE. The real question is why does the $108M Con-man need outside capital?
Shamelessly, Connelly bamboozles a local venture group, Mercury Ventures, claiming to have rights and IP that were never his, and then goes on to attack Americas heartland to solicit outside capital from more than forty Midwest farmers and cattlemen. Armed with nothing more than MGCs bunk powder contained within a grossly unfashionable, environmentally preposterous plastic device, Connelly begins to spin his yarn from city to city about his magic medical protein, but fails to mention that its not really his, but belongs to MGC. Connelly claimed to have invented WGFE and that he had the manufacturing rights to these rare dairy bioactive fractions found within milk proteins. Connelly further claimed these fractions, which can be delivered orally in the form of medicinal chocolate milk, would heal bones and tissue in half the time, and he had the science to prove it. At least thats what he told the farmers and cattlemen, in order to bilk them out of more than $1M dollars.
Connelly further made claims that the partnership with MGC was grossing over $60k per month, with profits in excess of $20k. However, when it came time to turn over the books to his new prospective investors and contribute the old partnership, the only asset to be found was a stoner named Don Aspinall, the warehouse attendant, who was drawing down $7,500 a month, while the company was doing less than $10k in actual gross sales. Although Connelly claimed for months this was an accounting oversight, the lost revenues never surfaced and the new company was already in play with investors capital.
As an aside, MGCs Director, Stephen ORouke,
who put pen to paper on Connelly and MGCs WGFE conspiracy, is being investigated as
well. ORourke appears to be another dirty dog down under, where scandal recently broke out related to his wife, Michelle, who was secretly earning more than $430k a year, for the last 12 years, as his assistant. ORouke recently resigned with egg on his face amidst the scandal. Regardless, Connelly and ORouke, with the help of long-time partner in crime, Peter Hobman, General Manager of MGC, conspired their plot to pitch WGFE as a bone-healing super-protein that would make its investors billions. Connelly claimed that WGFE was his own invention, and warranted that he owned all rights, title and interest to this ingredient, and would contribute it to the company for his whopping stake, which made him the single largest shareholder of Progenex Dairy Bioactives, Inc. Its comforting to note that ORourkes corruption isnt limited to screwing American farmers, but it is consistent to how he treats Australian farmers. Luckily PDB, despite Connelly's deceptions, has grown exponentially, and continues to pursue its claims against Scott Connelly for fraud and continued business interference.UP NEXT: HOW THE DIRTY DOCTOR CONSPIRED TO UNDERMINE HIS OWN COMPANY AND DETAILS TO MGC BOARD