LOS ANGELES – Patrick Flowers, founder and CEO of 808 Renewable Energy Corp., defrauded investors of more than $30 million, the SEC claims in court.
Also charged were COO Peter Kirkbride; sales reps Martin Kinchloe and Thomas Flowers; and three other firms: 808 Investments LLC, West Coast Commodities LLC, and T.A. Flowers LLC.
Flowers and his LLC agreed to disgorge $1.4 million, penny-stock bars, and a $160,000 fine, without admitting that they did anything wrong.
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