Chief Executive Officer Of Bouxtie Indicted In Investment Fraud Scheme

This week, it was announced that a Bay Area executive and Croatian national had been arrested in California on charges related to an alleged $1.5 million investment fraud scheme. The indictment charged Renato Libric with forging signatures on documents to carry out the fraud. The indictment alleges that between August of 2017 and February of 2018, 39-year-old Libric was a shareholder and CEO of Bouxtie Inc., which is based out of Delaware.

The indictment alleges that the defendant fraudulently placed the signature of an executive of a large publicly traded corporation on a term sheet. The sheet showed that the publicly traded company was interested in acquiring Bouxtie for $150,000,000. The defendant then caused the term sheet to be transmitted to potential investors. The indictment also accuses Libric of fraudulently placing the signatures of several members of the company’s board of directors on a Bouxtie corporate resolution.

The resolution was designed to authorize Libric to enter into an agreement in which Bouxtie would acquire a $1.5 million loan from a company based out of Las Vegas. Under the terms, the Las Vegas investor would receive just under 4% of the shares of Bouxtie. The indictment alleges that the Las Vegas company was defrauded and ended up investing $1.5 million in Bouxtie.

The indictment further alleges that the defendant withdrew more than $130,000 of the invested funds from the account. The indictment charges Libric with one count of wire fraud. At this point in time, the defendant is innocent until proven guilty beyond a reasonable doubt in a court of law. Further details have been made available here.

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