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Report: #1535099

Complaint Review: Ellery Roberts and Louis A Bevilacqua - New York NY

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  • Reported By: Matt — Bronx United States
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  • Ellery Roberts and Louis A Bevilacqua 590 Madison ave New York , NY United States

Ellery Roberts and Louis A Bevilacqua 1847holdings Redefine the Ponzi Scheme New York NY

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Overview:

1847 Holdings LLC and Polished have evolved Ponzi schemes into something far more insidious, masterminded by Louis A. Bevilacqua and Ellery Roberts. Instead of the traditional Ponzi model, where funds are paid to earlier investors using new money until the funds run dry, these two entities have created a series of interlinked frauds designed to perpetuate themselves and enrich the perpetrators at the expense of shareholders and investors.

 

Polished: A Case Study in Fraud

 

Polished, with its subsidiary Appliances Connection, raised over $365 million through various funding methods, including an IPO and additional equity raises. However, despite these significant funds, the money quickly disappeared, and the company faced asset freezes from Bank of America before ultimately defaulting. This was a classic Ponzi collapse when the money ran out, and the house of cards fell.

 

1847 Holdings: A Self-Sustaining Scheme

 

Unlike traditional Ponzi schemes, 1847 Holdings has avoided total collapse, thanks to a more insidious structure. Bevilacqua and Roberts have designed a system in which each subsidiary is financially drained, bankrupted, and dissolved. The parent company, however, remains intact, continuing to target new investors and launch new subsidiaries while avoiding the consequences of their failed ventures.

 

The Role of Louis A. Bevilacqua and Ellery Roberts

 

• Louis A. Bevilacqua: As the architect of the legal framework that shields 1847 Holdings from liability, Bevilacqua has created a system that allows for systematic fraud at the subsidiary level. He uses his firm, 1847 Partners, to allegedly launder funds back to insiders through fake “consulting fees” or “revenue sharing” schemes.

• Ellery Roberts: Roberts, as the CEO, is the public face of this operation. He has personally benefited from the scheme, including purchasing a $6.4 million mansion just days before issuing a $5 million promissory note to keep the scheme alive.

 

A Complex Fraud Machine

 

This isn’t just one Ponzi scheme; it’s a series of smaller, interlinked schemes:

• Polished collapsed when its funds ran dry.

• 1847 Holdings bleeds its subsidiaries dry, dissolving them and leaving investors and creditors empty-handed while the parent company continues to move forward, launching new schemes to attract new investors.

 

The Call to Action

 

This fraud redefines the Ponzi scheme, operating under the guise of legitimate public companies with a structure that obscures accountability. Bevilacqua and Roberts have developed a blueprint that allows them to escape legal responsibility by sacrificing their subsidiaries, while enriching themselves through laundered funds, false reporting, and manipulated metrics.

 

The cycle continues with 1847 Holdings, where the parent company remains operational, launching new schemes that target fresh investors. Regulatory bodies and law enforcement need to intervene and put an end to these practices before more investors are taken advantage of.

 

Why It Matters

 

Fraudulent schemes like these erode trust in financial markets, making it harder for legitimate businesses to raise capital. Raising awareness about the actions of Bevilacqua and Roberts is critical to protecting investors and ensuring these schemes do not continue unchecked.

 

Accountability starts with awareness. Without public scrutiny and legal intervention, this fraudulent machine will continue to cause financial harm, leaving a trail of victims in its wake. It’s time for investors, regulators, and law enforcement to demand justice and transparency.

This report was posted on Ripoff Report on 11/27/2024 07:07 AM and is a permanent record located here: https://www.ripoffreport.com/report/ellery-roberts-louis-holdings/new-york-ny-bevilcqu-llc-se-1535099. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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