Clean Conversion Technolgies v. CleanTech Biofuels CA4/3

FACTS

A. Fraud in the Inducement Lawsuit: Steve Vande Vegte filed a complaint against five individuals alleged to be officers, directors and managers of, or legal counsel for, Clean Earth Solutions, Inc., a waste management company. (Vande Vegte v. Campos (Super. Ct. Orange County, No. 30-2011-00482577) (Fraud in Inducement Lawsuit).) According to Vande Vegte‟s allegations, the defendants represented to him that they had acquired certain equipment from World Waste Technologies and were in the process of purchasing certain intellectual property rights from that company as well. Allegedly, the defendants represented that they needed immediate funding for pending obligations, including the completion of the intellectual property purchase, and Vande Vegte invested an initial $1 million in Clean Earth Solutions, Inc. based on their representations. In his complaint, Vande Vegte alleged that he had lost his entire investment due to fraud and conspiracy.

2 B. Fraudulent Transfer Lawsuit: (1) Complaint— Less than a week later, Vande Vegte filed another complaint, against some of the same defendants as well as certain others, including Clean Conversion Technologies, Inc., and CleanTech…