Tagged: trucrowd

January 13, 2025 @ 10:03 am By JD Alois  |  

TruCrowd, once a FINRA-regulated Funding Portal, has announced that it will cease operations. In a message posted on its website, TruCrowd said they have “reached the difficult decision to discontinue our services.” “For investors seeking information about their existing investments, please contact the companies you… Read More

June 5, 2022 @ 5:24 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has received final judgments against crowdfunding issuer, 420 Real Estate, LLC, and its CEO, Willard Jackson. The court case, SEC v. Shumake, has previously obtained judgments against Defendants TruCrowd, Vicent Petrescu, and Nicole Birch. According to FINRA, TruCrowd is… Read More

April 18, 2022 @ 5:52 pm By JD Alois  |  

Crowdfund Insider last reported on the growth of FINRA-regulated Funding Portals at the beginning of 2022. A Funding Portal is a new entity created by the JOBS Act of 2021 designed to issue securities under the Reg CF (Regulation Crowdfunding) – a securities exemption created… Read More

February 2, 2022 @ 3:30 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has announced a “bifurcated” judgment against an issuer 420 Real Estate LLC and its CEO Willard Jackson, parties that raised money on an investment crowdfunding platform. As was reported last fall, the SEC had filed fraud charges against TruCrowd… Read More

January 3, 2022 @ 9:39 am By JD Alois  |  

Last week, the Securities and Exchange Commission (SEC) filed an administrative proceeding in regards to Vincent Petrescu, the founder of the crowdfunding platform TruCrowd. In September of 2021, TruCrowd was hit with fraud charges, in the complaint SEC v. Robert Samuel Shumake, Jr, along with… Read More

September 20, 2021 @ 4:32 pm By JD Alois  |  

The Securities and Exchange Commission has leveled fraud charges against TruCrowd and three issuers in allegations of fraud regarding $2 million of unregistered securities apparently offered via two investment crowdfunding offerings. As far as we are aware, this is the first significant enforcement action pertaining… Read More

October 21, 2018 @ 1:23 pm By JD Alois  |  

StartEngine has published their tally of Reg CF crowdfunding campaigns for the month of September. According to their numbers published on their StartEngine Index, September showed a solid increase in total raised on active CF funding portals. StartEngine reports that $8.7 million was raised under… Read More

October 10, 2018 @ 3:29 pm By JD Alois  |  

truCrowd, an online investment platform that offers crowdfunding using the Illinois state securities exemption, is currently promoting new offerings. The two companies are AirChicago and Art of Fun, both Chicago area businesses. According to earlier reports, AirChicago previously raised funding on truCrowd so this appears… Read More

May 11, 2018 @ 4:30 pm By JD Alois  |  

StartEngine posts a weekly blog update regarding the state of Reg CF (or Regulation Crowdfunding).  This is the smallest of the three crowdfunding exemptions and allows companies to raise up to $1.07 million. While the industry is still maturing, and expectations are for Congress to… Read More

January 26, 2018 @ 12:48 pm By JD Alois  |  

Illinois has its first intrastate crowdfunding success.  The new securities rule was enacted in 2016 the first offering apparently did not go well but this week we have heard that AirChicago Holdings has successfully raised money on truCrowd. According to truCrowd, AirChicago Holdings took 5… Read More

July 14, 2017 @ 12:29 pm By JD Alois  |  

Fundanna, part of TrueCrowd, has filed a Reg D (506c) with the SEC indicating its intent to raise up to $2 million in a SAFE with revenue participation.  Investors may participate starting at $2500. This is the initial filing with the first sale yet to… Read More

March 13, 2017 @ 10:34 am By Robin Sosnow  |  

  “Them that’s got shall get / Them that’s not shall lose / So the Bible said”… and is it still news? Raising significant amounts of capital has never been easy for anyone. For some, it has been a higher hurdle than for others. The… Read More

February 7, 2017 @ 2:18 pm By JD Alois  |  

Fundanna is the first investment crowdfunding portal targeting the Cannabis industry to be approved by FINRA and the SEC to issue securities under Reg CF. Fundanna is the newest brand from Chicago-based truCrowd. Fundanna is looking to leverage the emerging retail Cannabis market that is expected… Read More

November 21, 2016 @ 1:47 pm By JD Alois  |  

Last time we provided an update on the Reg CF crowdfunding sector and approved funding portals there were 17 in operation. Today that number has increased to 21 FINRA approved platforms with several notable updates. Reg CF was created under Title III of the JOBS… Read More

August 8, 2016 @ 8:47 am By JD Alois  |  

Title III of the JOBS Act created a new securities exemption that allowed equity crowdfunding for non-accredited investors. This new exemption, also called Reg CF, may be viewed as another step in the capital ladder to complement Title II of the JOBS Act (accredited crowdfunding)… Read More

July 6, 2016 @ 4:14 pm By Samantha Hurst  |  

Equity crowdfunding platform TruCrowd announced on Wednesday it has appointed former 1871 senior vice president, George Vukotich, Ph. D., as its new chief operating officer (COO). Vukotich is notably co-founder of TruCrowd and was recently appointed by State of Illinois Governor Bruce Rauner to the Board of Trustees… Read More

May 17, 2016 @ 3:28 pm By Samantha Hurst  |  

On Tuesday, equity crowdfunding platform TruCrowd announced that it has received approval from the FINRA to become a funding portal for Title III offerings. Under the Title III rules, which went into effect on Monday, the general public may now invest in capital raising by start-up… Read More

September 29, 2015 @ 4:40 pm By Samantha Hurst  |  

On Monday, equity crowdfunding platform, truCrowd, announced that three companies are now ready to accept Texas non-accredited and accredited investors. Taking advantage of the relatively new Texas crowdfunding exemption, the state’s non-accredited investors can now invest up to $5,000 in any equity offerings and become… Read More

February 23, 2015 @ 9:07 am By Samantha Hurst  |  

truCrowd Texas, officially announced its application has been approved by the Texas State Securities Board. They are now legally registered as a Texas equity crowdfunding portal (TCP) and open for business. truCrowd enables local startups and businesses from any industry to raise up to $1 million per… Read More

January 13, 2015 @ 3:06 pm By JD Alois  |  

Electronic payment solution MyECheck has contracted with Chicago based truCrowd for its e-check payment service.  truCrowd describes itself as the “first funding portal for non-accredited investors”.  truCrowd is focusing on Title III of the JOBS Act which is the portion of the bill that legalizes… Read More