SEC v. Robert Tye Cournoyer; Green Equity Group, LLC; and RS Group Holdings, LLC, No. LR-26000, District of Colorado (May 10, 2024) — Press Release
raw: Robert Tye Cournoyer; Green Equity Group, LLC; RS Group Holdings, LLC
Robert Tye Cournoyer; Green Equity Group, LLC; RS Group Holdings, LLC, No. LR-26000 (May 10, 2024)
summary
The SEC filed fraud charges against Robert Tye Cournoyer and his entities for misappropriating investor funds intended for CBD ventures to pay for personal luxuries.
paragraph
The SEC alleges that between 2019 and 2022, Cournoyer and his entities raised approximately $1,270,000 through fraudulent offerings for CBD-related businesses. At least $755,000 of these funds were misappropriated for personal expenses such as gambling, rent, and luxury purchases. The defendants face charges for violating anti-fraud provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934.
narrative
The SEC has announced litigated fraud charges against recidivist Robert Tye Cournoyer, Green Equity Group, LLC, and RS Group Holdings, LLC. Between January 2019 and February 2022, the defendants allegedly raised approximately $1,270,000 by falsely claiming funds would be invested in CBD-related business ventures. Instead, Cournoyer is accused of misappropriating at least $755,000 for personal expenses, including gambling, rent, and luxury purchases. The complaint also alleges the defendants made misleading statements regarding the business operations and Cournoyer's professional experience. The SEC is seeking permanent injunctions, disgorgement with interest, and civil penalties against all defendants. Additionally, the agency seeks a conduct-based injunction and an officer-and-director bar against Cournoyer.
Classified financial-fraud(confidence 95%). EDGAR detection: forms 10-K/10-Q/8-K/NT 10-K· recall 67% / precision 23%. detection rule →
Parties
Securities and Exchange CommissionRobert Tye CournoyerGreen Equity Group, LLCRS Group Holdings, LLC
Keywords
cournoyergreen equitygroupllccournoyer greenequity groupgroup holdingssecurities exchangesecuritiessecexchange commissioninvestor fundsgreenequityrobert
Exhibits & Attached Documents (1)
Extracted insights
Dollar amounts 2
- $1.27M $1,270,000 $1M–$10M
- $755K $755,000 $100K–$1M
Entities 4
- agency Securities and Exchange Commission
- agency the sec’s complaint
- agency the sec’s investigation
- agency the sec’s litigation
Triples 8
- U.S. Securities and Exchange Commission Announced Litigated Fraud Charges Robert Tye Cournoyer and two entities that he controlled for their alleged misappropriation of investor funds and false and misleading statements to investors
- The SEC’s complaint Alleges That between at least January 2019 and February 2022, Cournoyer, through Green Equity Group, LLC and RS Group Holdings, LLC, raised approximately $1,270,000 from investors while representing that their funds would be invested in various CBD-related business ventures
- The complaint Alleges That the defendants made false and misleading statements to investors with respect to Green Equity’s business and Cournoyer’s education and industry experience
- Cournoyer Was Enjoined From violating certain provisions of the federal securities laws and barred from association with any broker or dealer
- The complaint Alleges That the defendants violated the anti-fraud provisions of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder
- The SEC Seeks Permanent injunctions, disgorgement with prejudgment interest, and civil penalties against all defendants, as well as a conduct-based injunction and officer-and-director bar against Cournoyer
- The SEC’s investigation Was Conducted By Yamini Piplani Grema with the assistance of Jodanna Haskins, Kerry Matticks, and Helena Engelhart Bean, and is supervised by Danielle R. Voorhees, Nicholas P. Heinke, and Jason J. Burt, all of the SEC’s Denver Regional Office
- The SEC’s litigation Will Be Conducted By Ms. Haskins and supervised by Gregory A. Kasper, Mr. Heinke, and Mr. Burt
PDF (from attached: complaint)
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Extracted body text (2,305c)
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 26000 / May 10, 2024 Securities and Exchange Commission v. Robert Tye Cournoyer, Green Equity Group, LLC, and RS Group Holdings, LLC, No. 24-cv-01304 (D. Colo. filed May 10, 2024) SEC Charges Recidivist and His Entities for Fraudulent Securities Offerings The Securities and Exchange Commission today announced litigated fraud charges against Robert Tye Cournoyer and two entities that he controlled for their alleged misappropriation of investor funds and false and misleading statements to investors. The SEC’s complaint, filed in federal district court in Colorado, alleges that between at least January 2019 and February 2022, Cournoyer, through Green Equity Group, LLC and RS Group Holdings, LLC, raised approximately $1,270,000 from investors while representing that their funds would be invested in various CBD-related business ventures. According to the complaint, Cournoyer instead misappropriated at least $755,000 of investor funds for personal expenses, including gambling, rent, and luxury purchases, and also made substantial cash withdrawals of investor funds. The complaint further alleges that the defendants made false and misleading statements to investors with respect to Green Equity’s business and Cournoyer’s education and industry experience. Cournoyer was previously enjoined from violating certain provisions of the federal securities laws and barred from association with any broker or dealer. The complaint alleges that the defendants violated the anti-fraud provisions of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The SEC seeks permanent injunctions, disgorgement with prejudgment interest, and civil penalties against all defendants, as well as a conduct-based injunction and officer-and-director bar against Cournoyer. The SEC’s investigation, which is continuing, was conducted by Yamini Piplani Grema with the assistance of Jodanna Haskins, Kerry Matticks, and Helena Engelhart Bean, and is supervised by Danielle R. Voorhees, Nicholas P. Heinke, and Jason J. Burt, all of the SEC’s Denver Regional Office. The SEC’s litigation will be conducted by Ms. Haskins and supervised by Gregory A. Kasper, Mr. Heinke, and Mr. Burt.
OCR text (2,305c · html-text · 99% conf)
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 26000 / May 10, 2024 Securities and Exchange Commission v. Robert Tye Cournoyer, Green Equity Group, LLC, and RS Group Holdings, LLC, No. 24-cv-01304 (D. Colo. filed May 10, 2024) SEC Charges Recidivist and His Entities for Fraudulent Securities Offerings The Securities and Exchange Commission today announced litigated fraud charges against Robert Tye Cournoyer and two entities that he controlled for their alleged misappropriation of investor funds and false and misleading statements to investors. The SEC’s complaint, filed in federal district court in Colorado, alleges that between at least January 2019 and February 2022, Cournoyer, through Green Equity Group, LLC and RS Group Holdings, LLC, raised approximately $1,270,000 from investors while representing that their funds would be invested in various CBD-related business ventures. According to the complaint, Cournoyer instead misappropriated at least $755,000 of investor funds for personal expenses, including gambling, rent, and luxury purchases, and also made substantial cash withdrawals of investor funds. The complaint further alleges that the defendants made false and misleading statements to investors with respect to Green Equity’s business and Cournoyer’s education and industry experience. Cournoyer was previously enjoined from violating certain provisions of the federal securities laws and barred from association with any broker or dealer. The complaint alleges that the defendants violated the anti-fraud provisions of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The SEC seeks permanent injunctions, disgorgement with prejudgment interest, and civil penalties against all defendants, as well as a conduct-based injunction and officer-and-director bar against Cournoyer. The SEC’s investigation, which is continuing, was conducted by Yamini Piplani Grema with the assistance of Jodanna Haskins, Kerry Matticks, and Helena Engelhart Bean, and is supervised by Danielle R. Voorhees, Nicholas P. Heinke, and Jason J. Burt, all of the SEC’s Denver Regional Office. The SEC’s litigation will be conducted by Ms. Haskins and supervised by Gregory A. Kasper, Mr. Heinke, and Mr. Burt.