Fraud Alert! Cliff Ganschow, Liveone Inc., Terra Worldwide, John Ganschow, Tim Ganschow


This website was established to warn people about Cliff Ganschow of Woodstock, IL, and his sons John and Tim Ganschow of Chicago, IL.  Many people have accused the Ganschows of being con-men running a series of fraudulent shell companies.  Cliff Ganschow in particular has an over 40 year career establishing failed shell companies which have ended with investor money disappearing and Cliff with legal judgments against him.  In just the last ten years, Cliff has had several million dollars in judgments issued against him.  The nearly 80 year old prostate cancer patient lost his house to foreclosure.  Now he wants to be an investment management.  80 years old!!

Cliff Ganschow is currently running Terra Worldwide LLC.  There have been four Terra shell companies already established.  The purpose of these companies is supposedly to invest other people’s money in farmland.  It is ridiculous that Cliff thinks he can invest other people’s money given his record of failure and misuse of investor funds.  Just look at his record with the McHenry County (Illinois)  recorder of deeds to see a forty year record of judgments.  One legal aid said he had never seen a disgraceful record like that in his 30 years of legal research.  Cliff was also accused of criminal misdemeanors in McHenry County for non-payment of wages.  Cliff has been held in contempt of court 3 times.  Certain parties intend to bring criminal contempt charges in 2015 against Cliff for violation of a citation lien. Cliff misappropriated over $600,000 that was under a judicial lien.  The parties intend to seek a jury trial and ask that Cliff be tried as if he committed grand larceny.  Cliff also hasn’t filed a tax return in years.  He could go to prison for tax fraud should the IRS take action.

In other shell companies, Cliff was accused of embezzlement for monies which were supposed to be invested in housing projects in Mexico by Cliff and his son John.  Judgments were issued against both John and Cliff.  Cliff was also accused of fraud and fraudulent inducement in Atlanta by Tim Baggett.  Baggett received a judgment against Cliff.

With Agristar, run by Cliff and his son, Tim, shares were sold  in the Company when the Company was technically insolvent.  The money raised was immediately paid out to Cliff.  In essence, Agristar was nothing more than a vehicle for Cliff to raise money to support his lifestyle.  Agristar went belly up. With Agristar, Cliff would essentially steal from service providers. He would hire temporary staffing and then not pay them after they provided the services.  He has continued this with the Terra companies. Just last month (December 2014) Cliff and Terra Worldwide LLC were hit with a $25,000 lawsuit from a temp. agency.  Cliff’s answer to this?  Set up a new shell company, Terra Worldwide INC.

John and Tim are now involved with Liveone Inc.  Investors should be very careful given the history of failure and mismanagement of investor funds in previous Ganschow shell companies.  John and Tim both have had judgments issued against them.  Tim was involved with both Agristar and Terra Worldwide.

How the Ganschows are not in prison is beyond this website.  This site is sorry for all of the people Cliff and his sons have hurt.  This website is actively seeking to assist the SEC, FBI and other law enforcement organizations bring Cliff and his sons to justice.

 


 

Posted in Cliff Ganschow, Fraud accusations, John Ganschow, Terra Worldwide LLC | 13 Comments