Leslie Rudd LRICO Securities Fraud Investment Fraud

Though approaching his mid 70's, Leslie Rudd still has the energy to terrorize others in the investment arena. Leslie Rudd received a sweetheart stock option from his former underling Dumninda Desilva, while Desilva was I term chairman of the board at 4licensing Corporation. After other shareholders objected, Leslie Rudd was forced to rework his sweetheart deal, but the damage had been done. In exchange for agreeing not to sue Leslie Rudd, Rudd gave up and handed over the company to Phil Frohlich of Prescott Capital, Wade Massad of Cleveland Capital, Al Kahn, and Kenneth Feldman of KenIra. 

The average shareholder took a one hundred percent loss after Frohlich, Massad, Kahn, and Feldman moved the company to Oklahoma to sneak in a bankruptcy filing under the radar, while picking up assets cheap, and stuffing vendors and all other shareholders. Without Leslie Dude's initial likely fraudulent sweetheart deal, shareholders more likely than not would not have been wiped out.