Redwood Scientific Technologies defendants Jason and Eunjung Cardiff, along with third-party Jacques Poujade, have been ordered to appear before court on July 30th.
At the hearing they’ll be required to explain continued failure to comply with a previously granted restraining order – failing which they face potential incarceration.
Redwood Scientific Technologies, parent company of
RengaLife
, was
sued by the FTC
late last year.
The FTC alleges that through Redwood Scientific Technologies, owners Jason and Eunjung Cardiff “bilked consumers out of millions of dollars”.
On June 17th the FTC filed a show cause motion. The motion, if granted, would require Jason and Eunjung Cardiff, and Jacques Poujade, to explain to the court why they shouldn’t be held in contempt.
The FTC asserts the Cardiffs and Poujade ‘
have violated provisions in the Court’s Temporary Restraining Order and Preliminary Injunction
‘.
Specifically, the FTC alleges the Cardiffs
have failed to report assets and entities of which they were directors, officers, and owners.
They have failed to provide a full accounting of all assets and accounts outside of the United States, have failed to provide documents and records held by third parties outside the United States, and have failed to repatriate and deliver to the Receiver all documents and assets located in foreign countries.
The Cardiffs have dissipated domestic or foreign assets, and hindered the repatriation of assets.
They have failed to provide the FTC and Receiver with required information about business entities they operated or controlled.
They have failed to deliver assets to the Receiver.
They have failed to provide to the Receiver a list of all assets and accounts of the Receivership entities and the Cardiffs held in other names.
They have interfered with the Receiver’s efforts to take possession of assets or documents subject to the receivership, and disposed of assets belonging to the Receivership and the Cardiffs.
And they have failed to comply with expedited discovery.
According to the FTC, third-party Jacques Poujade has assisted the Cardiffs in violating the TRO.
He has transferred, loaned, concealed, and disbursed Cardiff assets.
He has failed to hold, preserve, and prohibit the disbursement, dissipation, or other disposal of Cardiff documents and assets.
He has taken actions that resulted in the dissipation of domestic or foreign assets, and in the hindrance of the repatriation of those assets.
He has failed to deliver Cardiff assets to the Receiver.
And he has failed to provide complete expedited discovery.
Jacques Poujade is a managing partner (and I believe owner ) of the loan company Lend Plus and mortgage company Tri-Emerald Financial Group.
As per the FTC, Poujade (right) helped the Cardiffs conceal hundreds of thousands of dollars.
The funds at issue flowed through Sui & Company, Solicitors, to Pharmastrip Corp., to Alphatech Holdings, LLC, where they were used to pay for at least $
🤖 Quick Answer
What charges are Jason and Eunjung Cardiff facing?Jason and Eunjung Cardiff, defendants in an FTC lawsuit against Redwood Scientific Technologies, face contempt charges for allegedly violating a previously granted restraining order. They must appear in court on July 30th to explain their non-compliance, risking potential incarceration if unable to provide satisfactory justification to the judge.
What are the FTC's main allegations against Redwood Scientific Technologies?
The Federal Trade Commission alleges that Redwood Scientific Technologies, owned by Jason and Eunjung Cardiff, defrauded consumers of millions of dollars through their business operations. The lawsuit, filed late last year, seeks to hold the defendants accountable for consumer protection violations and seeks appropriate legal remedies.
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