Alan Anderson Charged with Wire, Securities Fraud

By October 25, 2021 Investment Fraud

Alan Anderson of Walnut Creek, California, was indicted by a federal grand jury recently on charges he used false and fraudulent statements to induce investors to make contributions to three businesses. Anderson supposedly marketed the businesses as providing “child-friendly internet services,” according to a Department of Justice news release.

As stated in the release:

“According to the indictment, Anderson owned and controlled Imbee, Inc., a Delaware corporation based in Walnut Creek marketed as a child-friendly social media platform; Fanlala, a California corporation marketed as a service providing internet-based music streaming for children; and Fruit Punch, a California corporation marketed as providing music-streaming service for children.  The indictment alleges that beginning as early as April of 2010 through May of 2019, Anderson raised money for his companies by making false representations and creating false documents to support his bogus claims.  For example, the indictment alleges Anderson created fraudulent income statements and profit and loss statements and misrepresented the companies’ profitability to investors and potential investors; that Anderson created and altered contracts to represent falsely that one or more of his companies would be acquired by larger companies; and that Anderson created and altered contracts to make fraudulent claims that his companies created partnerships with other existing companies.  In addition, the indictment describes how Anderson emailed an investor to falsely claim Imbee was worth $21.6 million and that the investor owned 70% of the company.”

Fishman Haygood’s Investment Fraud Division has experience bringing claims on behalf of investors who were the victims of fraudulent investment schemes.

Please contact us to discuss your possible claim.