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October 27 - November 28, 2023
SEC Settles Fraud Charges Against Los Angeles ‘Smart Ring’ Company Company’s Principal Agrees to Settlement Following Fraud Allegations By Dolores Quintana The Securities and Exchange Commission (SEC) revealed today that Esos Rings, Inc., along with its principal, Michelle Silverstein, also known as Michelle Silverstein Bisnoff, have reached a settlement regarding allegations of investor fraud. The charges revolved around the sale of Esos stock through deceptive practices
related to Esos’s business and the operation of a Ponzi-like scheme. According to the SEC’s complaint, which was filed in the U.S. District Court for the Central District of California, between February 2017 and June 2022, Esos and Bisnoff unlawfully raised $1.95 million from investors. The complaint asserts that Esos claimed to be engaged in the manufacturing and sale of smart rings and wearable devices functioning as debit cards. Allegedly, Esos and Bisnoff secured funds from investors using false claims, including ownership of patents for the smart rings and an acquisition by Apple. Additionally, the complaint contends that Esos and Bisnoff operated a Ponzi-like scheme, using new investments to repay earlier investors. Esos and Bisnoff, while neither admitting nor denying the SEC’s allegations have consented to the entry of final judgments
pending court approval. These judgments would permanently prohibit them from violating the antifraud provisions of Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Act of 1934, and Rule 10b-5. They would also make them jointly and severally liable for paying $566,483 in disgorgement and $46,836 in prejudgment interest. Bisnoff, in addition, agreed to an officerand-director bar, a $233,229 civil penalty, and a permanent injunction preventing her from participating in the issuance, purchase, offer, or sale of any unregistered security, except for transactions involving securities listed on a national exchange for her personal account. The SEC’s investigation was conducted by staff from the SEC’s Los Angeles Regional Office.
Intruder’s Persistent Actions at Kennedy Residence in Brentwood Raise Concerns Security Breaches Prompt Concern and Calls For Police at Candidate’s Home By Dolores Quintana An intruder was apprehended twice on Wednesday at the Brentwood residence of Robert F. Kennedy Jr., in an incident that
prompted concerns from authorities and Kennedy’s presidential campaign. The initial occurrence transpired around 9:30 a.m. when the intruder scaled a fence and requested to meet the candidate, as reported by the campaign. Private security personnel from Gavin de Becker and Associates promptly detained the individual. Los Angeles police officers were summoned to the premises and took the suspect into custody, later transferring him to the West L.A. station, where he received citations and was subsequently released, according to the LAPD, as communicated to ABC News.
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However, following his release from police custody, the same individual swiftly returned to Kennedy’s residence and was arrested once more, a development noted by the Kennedy campaign. Notably, the candidate was present in the home during both arrests. Cheryl Hines, Kennedy’s wife and an actress, was also in the residence at the time of the incidents. It is noteworthy that the second intrusion occurred around 5:45 p.m.,even though there was a restraining order that was meant to prevent the suspect from having contact with Robert Kennedy Jr and his household. No injuries were reported in connection with the occurrences.
The Kennedy campaign disclosed that Gavin de Becker and Associates had previously alerted the Secret Service about the activities of this particular individual, described as “obsessed,” on multiple occasions in recent months. They shared concerning communications the individual had directed towards the candidate.
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