Black Wall Street

Quick summary on Black Wall Street

Regulatory Warnings and Lawsuits: Black Wall Street has been involved in various legal and regulatory issues. One significant incident includes a complaint by the U.S. Securities and Exchange Commission (SEC) against Larry A. Stockett for fraudulent activities, although it pertained to a different company named Hightec. Nonetheless, the association raises red flags and implies a recurring pattern of financial misconduct that could invite further scrutiny from regulatory authorities.

Customer Complaints and BBB Profile: The company has been the subject of multiple unresolved customer complaints. Notably, in June 2023, a complaint was filed with the Better Business Bureau (BBB), but the BBB was unable to locate the business to pursue resolution. Additionally, customers have criticized Black Wall Street for poor service and repair-related issues. The company has operated for over 18 years but remains unaccredited by the BBB, which can be a warning sign for potential clients and investors.

Investor Disputes and Financial Failures: In May 2022, a significant investor dispute emerged when Nigerian investor Charles Lambert allegedly failed to return promised investment gains. The situation escalated when Lambert reportedly attempted to silence the story through unethical means, further damaging the company’s reputation among investors.

Bribery and Ethical Concerns: Accusations have surfaced that representatives of Black Wall Street tried to bribe journalists in order to suppress damaging media coverage. These allegations point toward a broader issue of ethical misconduct and raise serious questions about the company’s transparency and integrity in managing public relations and financial disclosures.

Overall Assessment: The pattern of regulatory scrutiny, customer dissatisfaction, unresolved complaints, financial disputes, and alleged bribery collectively paint a troubling picture of Black Wall Street. These issues highlight significant risks for potential investors and stakeholders, underscoring the need for careful due diligence before engaging with the company.