Jacob Wohl Adds “Deadbeat” to His CV

@TBPInvictus here:

Last we heard from Jacob Wohl — see original story here for background — Wohl’s attorney appeared at a hearing on October 23 2017 to tell the Arizona Corporation Commission that the young scamster needed another month to make the initial ~$16,000 payment of some $32,000 he owes under a prior Consent Order – see the Cease and Desist Order for the laundry list of allegations against the founder and CEO of Wohl Capital Investment Group (WCIG).

The video of the ACC Commission meeting is here, advance to about the 3:45 mark with a good cup of java in hand – the segment runs about 10 minutes.

With the Commission having granted the requested extension, our young montebank had until November 22 to make the aforementioned $16,000 payment (see here for the ORDER CORRECTING DECISION 76451 NUNC PRO TUNC).

Now, a week into the New Year, I sense that you’re dying to know how it all played out. So as not to disappoint you, I did the legwork so you wouldn’t have to. And here’s what I was told by someone familiar with the matter late last week:

“Under the Order, as amended, Mr. Wohl was required to make a payment in November. As of this date, Mr. Wohl has not made any payments to the Corporation Commission. When respondents do not pay their obligations under orders, we refer their cases to the Arizona Attorney General’s Office to instigate collection efforts.”

The 19-year old CEO of Montgomery Assets,Wohl, apparently did not make any payment as mandated in the consent decree. Therefore, he is likely now in default, and the entirety of the ~$32,000 in fines and restitution becomes due immediately.

The irony is he is emulating his man-crush Donald Trump, who helped give the young fraudster street cred by retweeting him on occasion. Among the small subgroup of New Yorkers who knew him well, Trump was notorious for not paying his debts to contractors and shirking his legal obligations. We still await his “audit” to end so he would release his taxes.

Not paying his consent fines is a very Trump like thing to do. Perhaps the young Wohl simply does not understand the way the legal system works. Maybe he is hoping someone will pull some strings for him. We’ll just have to wait and see. Watch this space for an update from Arizona . . .

 

 

Previously:
The Curious Case of Jacob Wohl
Invictus
October 9, 2017
ritholtz.com/2017/10/curious-case-jacob-wohl/

See also:
Jacob Wohl, The Teenage-Hedge Fund Manager, Ordered To Cease And Desist
Wayne Duggan
Benzinga, March 06, 2017
https://www.benzinga.com/news/17/03/9134911/jacob-wohl-the-teenage-hedge-fund-manager-ordered-to-cease-and-desist

AZCC Docket #S-20986A-16-0340


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