According to the information at our disposal on crita, Chuck Kubicki (who is a real estate developer) has finally agreed to acquire assets of Berkeley Premium Nutraceuticals.
Berkeley is a distributor of the male sexual improvement pill Enzyte and other products. It applied for bankruptcy protection earlier in September after its creator, Steve Warshak, was sentenced to 25 years for his conviction on several counts of scams, cash laundering and conspiracy theory. U.S. District Judge Arthur Spiegel ordered Warshak and Berkeley to surrender more than $500 million in money and assets.
Steve Warshak, 42, was found guilty in a U.S. District Court jury trial of conspiracy theory to commit cash laundering, in addition to other scams charges. Others convicted along with Warshak are Paul Kellogg, 41, the internal lawyer for Berkeley Premium Nutraceuticals; Steven Pugh, 38, stockroom manager for Berkeley and Harriet Warshak, 75, Steven Warshak’s mommy. Berkeley Premium Nutraceuticals and TCI Media Inc., were also pronounced guilty.
A federal grand jury indicted the group in September 2006, charging that Berkeley, which marketed nutritional supplements, sent out customers items they didn’t order and charged their credit cards repeatedly without authorization, misrepresented their business to banks and customers, and laundered cash through personal bank and financial investment accounts
Take a look at this video for more information on Berkeley Premium Nutraceuticals and how Steve Warshak was sentenced to 25 years.
Bankruptcy Trustee Richard Nelson zeroed in on Pristine Bay as the buyer, a local business that will certainly pay $2.75 million for Berkeley’s trademark name, stock, receivable, and other assets.
While Nelson opted not to reveal added details about the purchaser, stating he was bound by a confidentiality arrangement, he however stated that purchase implies 200 jobs would likely remain unchanged.
However according to findings, Pristine Bay LLC has the same mailing address as Kubicki’s Cincinnati United Professionals as indicated in a Sept. 30 filing with the Ohio Secretary of State’s office. Chance Truemper (a Pristine Bay’s statutory representative) is a property-development coordinator for CUC
When called by the Messenger, CUC founder and chief executive Chuck Kubicki validated that he is investing in Berkeley.
He stated the reason why he bought it was to save the jobs in Forest Park. Then he further stated that anyone who would have bought it might relocate it out of town. Chuck Kubicki backed his management team to buy Berkeley Premium Nutraceuticals because he believed they are now clean and straight operated company
Records according to Nelson revealed that Pristine Bay was not the only company that showed interest in acquiring Berkeley Premium Nutraceuticals. As a matter of fact lots of entities showed interest, however, Pristine Bay was the only official bidder when the bankruptcy auction ended Dec. 5
“You always would have preferred to have gotten more but I’m satisfied that a broad variety of companies got an opportunity to take a look at it,” Nelson stated.
Kubicki is hoping to close the sale by year end. He’ll likely change the business’s name however retain the Enzyte trademark name.
Conclusively according to reports, the brand-new owner of Berkeley Premium Nutraceuticals prepares to add more than 500 workers at its Forest Park call center in the next three years as it re-launches the troubled business.