More and more information keeps piling up on the Muscle Master/Nick Chunias bank forclosure situation. What you’re about to read is from a confidential source, who knows about the inner workings of this case, but who needs to remain anonymous [he’s not anonymous to me, just you].
I’ve known him for several years, and wouldn’t be publishing his claims unless I believe him (and if I believe him, then so should you). The only notes from me will be within [brackets] where I feel explanations are necessary:
Involuntary bankruptcy allows the previous 90 days of transactions to be reversed. Meaning the sale of MM [Muscle Master]could be undone. Finn [Muscle Master/Nick Chunias’ accountant] claims that the company was for sale with no offers. I have proof that is not the case. Not only that, there is proof the company sold for less than other offers that were submitted. This whole deal REAKS of major corruption.
If you purchased a company that someone ran into the ground the way Nick did, why would you then hire him after the fact? [This is exactly what the new owner did.] I imagine a deal was brokered behind closed doors for a greatly reduced amount, in exchange, nick would be hired on after the fact. It is my belief Nick intentionally sabotaged other offers in an effort to preserve himself post sale. None of the potential buyers would have hired him. I imagine having 5-6 kids [as Nick Chunias has] is quite the incentive to make sure you have a job after you ran your company into the ground. There is a high probability that outside council will be brought in to review all of the transactions for the past 90 days involving MM. If they find things that look out of place, they can go back even further. This will not bode well for MM.
The current company that owns MM is knowingly taking orders for items they can’t ship. They are knowingly taking orders, taking money with zero intention of sending product or refunding their money.
Nick hasn’t filled bankruptcy of MM because he’s worried about the FDA/DEA. I believe nick choose months ago to let the company die and be foreclosed on so he wouldn’t go to prison. Filing bankruptcy would have saved his business, but would have made him personally liable in the case with the government that is still on going. The bank foreclosed, but MM is STILL not bankrupt.
His goal will be to have the corporation take the judgement/criminal hit, then bankrupt, then sue everyone on that list the DEA/FDA provided for him losing his business. That is what I believe he will do. Right now everyone is simply trying to make him go bankrupt, as that is what will likely send him to prison. Nick’s biggest problem is that he has upset some people who have pretty deep pockets. With litigation, that’s very important. I have a feeling if he doesn’t make some things right, those people will never stop the pursuit. For anyone that has been through lawsuits, the process of it is often the worst aspect. It drags on for long periods of time, lawyers get paid lots of money and rarely do either side get the outcome they wanted.