Why didn't Palmaz disclose CFO Richard Connelly was sued for securities fraud?
Ever hear that saying, cut off a hydra's head and seven heads come back? I have never understood how these people find each other. Richard Connelly is the former CFO of Palmaz Scientific and disgraced former boiler room broker Steven Brett Solomon's long time partner. His "email" to Insurica insurance agent Jim Roskopf is the starring document in the current federal litigation over $20M of d&o coverage allegedly obtained the day after renowned attorney Riccardo Cedillo penned a very thorough preservation letter to Jason Davis, the attorney for Palmaz Scientific. You remember Jason, he is the one who had all those federal cases end up in the same court, who allegedly got the Robbins v Amalia Palmaz case SEALED after the San Antonio Express allegedly called for comment after a mistrial was called after two weeks into the trial when a juror allegedly raised his hand and allegedly volunteered a conflict with Jason's co counsel, and he is the same dude who is adding on all those additions and "improving" his San Antonio home in homestead friendly Texas:
Look at the date of CFO RICHARD CONNELLY'S affidavit, April 2013, notarized by alleged Palmaz Scientific "controller" Jill Rocha, who is the same gal who, while paid by Palmaz Scientific helped Solomon facilitate his secret, private and unregistered sales of Cann Labs stock. THERE WAS NO DISCLOSURE OF CONNELLY, WHO WHILE SERVING AS CFO OF PALMAZ SCIENTIFIC, WAS BEING SUED FOR SECURITIES FRAUD. And this is smack dab in the middle of looting millions from clueless investors relying on the then stellar reputation of Julio Palmaz.
You might recall that it's this same Richard Connelly, who drafted the infamous email to Insurica agent Jim that is the subject of federal litigation. Did I mention Connelly's buddy at Riptide, convicted felon Francis Wilde, is currently incarcerated in California after being caught in yet another fraud?
How convenient that Connelly can't locate any documents. Reminds me of the WIPED computers in the Palmaz case:
