Visionary private equity group
Attention all Visionary Private Equity Group (VPEG) investors!
The positive reviews here are very clearly paid reviews to increase their online image. Most likely crafted by Dr. Ronald Zamber (Chairman & Senior Managing Director), Michael Cosby (Senior Managing Director & General Counsel) or Robert Grenley (Director of Capital Development).
Attention all Visionary Private Equity Group (VPEG) investors.
We are a coalition of investors who have been misled over the years by Dr. Ronald Zamber (Chairman & Senior Managing Director), Michael Cosby (Senior Managing Director & General Counsel), and Robert Grenley (Director of Capital Development). These individuals have allegedly been using new investor funds to settle old debts, securing multiple loans against the invested assets, and consistently providing misleading information to investors, particularly Robert Grenley. Their actions appear to prioritize personal enrichment and benefit their connections, all at the expense of the investors.
All three of them are currently being sued for breaches of fiduciary duty, gross negligence, and misrepresentation related to their investments in Visionary Private Equity Group ("VPEG").
Here's a summary of the key allegations:
Mismanagement and Misrepresentation: The plaintiffs allege that the individual defendants (Zamber, Cosby, and Grenley) mismanaged VPEG, providing investors with false or misleading information about the Fund's performance and financial status. They withheld crucial financial information, made false promises of distributions, and concealed their scheme to enrich themselves.
Breach of Fiduciary Duty: The defendants, as fiduciaries of the plaintiffs, breached their duties by prioritizing their own interests over those of the limited partners. This includes the failure to provide proper accounting, compliance and governance, and the acceptance of new limited partners in violation of the Limited Partner Agreement ("LPA").
Breach of Contract: The defendants, particularly Visionary PE GP I, LLC (the general partner of VPEG), breached the LPA by failing to provide audited financial statements, failing to make distributions as required, and accepting new capital contributions in violation of the agreement.
Negligent Misrepresentation: The defendants made false and misleading statements about the Fund's performance and future prospects to induce the plaintiffs to invest further.
Financial Irregularities: The complaint details numerous financial irregularities, including undisclosed lawsuits, nonpayment of employees and vendors, and questionable investments in portfolio companies. Specifically, the complaint highlights issues with Pop Gourmet and Visionary Media Group.
Demand for Relief: The plaintiffs are seeking injunctive relief, including the removal of the individual defendants as fiduciaries, the appointment of a receiver to manage the Fund, and monetary damages. They also seek an accounting of the Fund's finances.
If you are a VPEG investor and feel dissatisfied with how Visionary Private Equity Group (VPEG) has managed your funds over the years, we would like to hear from you.
To those considering an investment in Visionary Private Equity Group (VPEG), we encourage you to consider this information carefully before making any decisions.
