Back when Progenex first came on my radar in 2010, and I began to expose their asshattery in my blog, they contacted a company called Rexxfield, owned by Michael Roberts. Rexxfield was hired to get rid of the negative articles and postings I’d made, and restore their online reputation. Before we go any further, and since four years of what I’ve been saying has been vindicated by recent events, I’d like to say that this is the problem with people like Michael Roberts – any scumbags can hire him to “fix” their reputations. This includes, as it turns out, people who are fully deserving of those reputations.
Seeing the opportunity to diversify their portfolio of scumbaggery, by offering similar services, and since Micael Roberts was angling to gain possession of an illegal method of removing certain online postings (besides his usual M.O. of sending nasty emails to service providers and hosting companies), the Progenex executives purchased 60% of Rexxfield from Roberts. They used Progenex funds to do this – which is embezzling, since there are shareholders and the like who had these funds stolen from their company.
This is a copy of the executed Rexxfield agreement signed by Ryan Page on behalf of Page Ventures. Again, Progenex funds were used to complete this transaction. And again, that’s called embezzlement – funds were taken from the company by an officer, with no intent to pay them back or to provide a return on the transaction, for personal use, in total breech of fiduciary duty to the company and shareholders.
Obviously that’s Ryan Page’s signature on the document, and he was using Progenex funds under the name of his personal company, PageCo.
This is a $5K Invoice from Rexxfield to Progenex (Note: Page withdrew $2500.00 in CASH FROM PGX bank account to cover half of this bill). Again, this proves that Progenex funds were being stolen by the officer(s).
In late FEB Adam Zuckerman and the rest of the Progenex executives discover that Michael Roberts is traveling to Denver to ink a deal with Matthew Cooke, for the illegal code. Zuckerman goes out of his mind and sends an email confirming that he paid for the code. Again, this was Progenex money being used to pay for something far outside the company charter (you might need to drag the emails directly to your browser bar to read them).
Zuckerman succeeds in forestalling Michael Roberts Matthew Cooke deal and subsequently screws then-CEO Darren Meade along with Roberts out of the deal. At this point, Meade goes ballistic in an attempt to cover his OWN ass starts “disclosure campaign” to FEDS and then investors. Ultimately, much of this campaign was seen in the recent Iowa filings, as evidence against Progenex as well as Meade.
When investors are contacted by Meade, Zuckerman slawyer David Vendler files a lawsuit and TRO against Meade to try and prevent further disclosures to investors. TRO is denied. Bear in mind the critical fact that Vendler is Progenex counsel and is paid with Progenex funds. Again, embezzlement. Shouldn’t Vendler have known? Or will he be joining the Progenex boys in facing criminal charges?
The lawsuit is dismissed.
Michael Roberts attempts to say that the Rexxfield deal is quashed, but Progenex’s lawyer Michael Brown informs him that “his clients” contract has been fully executed. (keep in mind PGX shreholders were his “clients” and they did not participate in the Cooke deal/monetary opportunity).
That, kiddies, is how all of the embezzlement happened – the Progenex crew took company funds to make illegal purchases, and left a huge trail that almost anyone could follow. Pwned.
And as a final point of note, while M.Roberts’ ability to restore online reputations or sniff out an anonymous identity online are, to the layman, impressive, anyone with a modicum of tech savvy can do the same thing…or prevent him from doing it. Easily. He’s a talentless hack. [A very full version of the events I'm covering below can be found here, at FoxNews.com]. The funny thing here is that Roberts (who is utterly delusional) claims to be some kind of online champion against defemation – yet if one looks at his actions after various journalists have reported on him, we find he immediately takes to the internet to attack them in multiple postings and videos.