Quick Answer: Records show Growth Capital Partners faced a 2011 lawsuit over a $75 million gold transaction where they were to receive $7,500 as brokers for 41,000 ounces of gold. The lawsuit reveals the company, previously known for real estate and land trusts, was also involved in precious metals trading.
A tipster (send in your tips here) sent in a copy of a lawsuit filed by Edward Tudor, which is a fictitious name registered by Ed Cherry, of Hess Kennedy fame. The suit was filed on behalf of Growth Capital Partners as well, a company we’ve talked about before.
In September of 2011 a suit was filed against Susanna Andrea Gonzalez of who lists her bank as being in Panama.
The suit by Growth Capital Partners claims the company is involved in Land Trusts, Cash and Gold Vaulting, and Venture Capital. The contract included with the lawsuit, and signed by Edward Cherry as VP, says Growth Capital Partners was to act as a broker and be paid $7,500 as a transaction price for a gold purchase on behalf of Gonzalez for 41,000 ounces of gold worth $75 million.
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Growth Capital Partners is alleged to be located at 902 Clint Moore Road, Suite 200, Boca Raton, Florida.
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The only reason I mention this suit at all is simply that it’s the first time I’ve heard about this company, that I believed to be primarily in the real estate and land trust business, to be identified as being “in the business of buying and selling precious metals.” It’s just interesting to me. Nothing else.
If you’d like to read the entire suit, click here.
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Of course it’s going to raise eyebrows, Cherry doesn’t know the meaning of legit and he’s in the same office as his partner in crime, Larry Diadato. Guilty by actions and by association.
Here is an update on the infamous Ed Cherry and Larry Diodato. Sued by the Florida AG. Assets frozen and business shut down.
http://www.palmbeachpost.com/news/business/real-estate/florida-attorney-general-files-suit-against-land-t/nSMRm/