Bankruptcy

Rahsaan King: The Crowned Con Artist is a Master Manipulator and System Abuser

From SEC Settlement to Elusive Evasion: Rahsaan King’s Mastery of Fraudulent Schemes Leaves His Victims Financially Devastated.

Rahsaan Kevin King

(24-33051)

United States Bankruptcy Court, S.D. Texas

JUL 2, 2024 | REPUBLISHED BY LIT: JUL 2, 2024
JUL 2, 2024

Above is the date LIT Last updated this article.

King has just filed for bankruptcy to prevent eviction from his rental home in Spring, Texas.

U.S. Bankruptcy Court
Southern District of Texas (Houston)
Bankruptcy Petition #: 24-33051

Assigned to: Bankruptcy Judge Eduardo V Rodriguez
Chapter 13
Voluntary
Asset

 

 

Date filed:   06/30/2024

 

Debtor
Rahsaan Kevin King
21203 Bradford Grove Dr.
Spring, TX 77379
HARRIS-TX
SSN / ITIN: xxx-xx-6177
represented by Aaron W. McCardell, Sr.
The McCardell Law Firm, PLLC
440 Louisiana
Suite 1575
Houston, TX 77002
713-236-8736
Fax : 713-236-8990
Email: amccardell@mccardelllaw.com
Trustee
Tiffany D Castro
Office of Chapter 13 Trustee
9821 Katy Freeway
Ste 590
Houston, TX 77024
713-722-1200
U.S. Trustee
US Trustee
Office of the US Trustee
515 Rusk Ave
Ste 3516
Houston, TX 77002
713-718-4650

 

Filing Date # Docket Text
06/30/2024 1
(8 pgs)
Chapter 13 Voluntary Petition Individual . Fee Amount $313 Filed by Rahsaan Kevin King. (McCardell, Aaron) (Entered: 06/30/2024)
06/30/2024 2
(1 pg)
Certificate of Credit Counseling (Filed By Rahsaan Kevin King ). (McCardell, Aaron) (Entered: 06/30/2024)

 


 

PACER Service Center
Transaction Receipt
07/02/2024 14:17:31
1222681
Location
Harris County – County Clerk
Case Type
Appeal from a Lower Court
Parties
Rahsaan King, Peter Rojas
Attorneys
ERNESTO GARCIA, Pro Se
Judge
Thomas, Jermaine
Case Filed Date
2/28/2024
1162039
Location
Harris County – County Clerk
Case Type
Appeal from a Lower Court
Parties
RAHSAAN KING, PETER ROJAS
Attorneys
Pro Se, ERNESTO GARCIA
Judge
Kovach, Jim F.
Case Filed Date
12/2/2020
14-CCV-053073
Location
Fort Bend – County Clerk
Case Type
Other Civil
Parties
Rahsaan K King, Brian Michael Corpian, William Dexter Lucas, and 1 more
Attorneys
Eric Lamont Rhodes, Pro Se
Judge
Wallace, Toni
Case Filed Date
6/24/2014

2024 IFP Affidavit (Eviction Suit)

Income $10,000 pm (Vivid) – receiving Medicaid

Expenses $7,850 pm

2020 IFP Affidavit (Eviction Suit)

Income $3,500 pm (Vivid) – not receiving Medicaid or Public Assistance

Expenses $4,575 pm

Same job, same home, same number of dependents….

SEC Charges Online Tutoring Company and Its CEO with Fraud
Litigation Release No. 25085 / April 29, 2021

Securities and Exchange Commission v. Rahsaan King and Students of Strength, Inc., No. 21-civ-10714 (D. Mass. filed April 29, 2021)

The Securities and Exchange Commission today charged Students of Strength, Inc., which operated in Massachusetts and Texas, and its CEO, Rahsaan King, with raising money by making false and misleading statements to investors.

King and his company have offered to settle the case by, among other things, agreeing to pay disgorgement and a penalty together totaling over $200,000.

The SEC’s complaint alleges that during 2017 and 2018, Students of Strength raised over $1 million from more than twenty investors through the sale of common stock and convertible notes.

As alleged, King described the company to potential investors as a thriving online tutoring business that connected college student tutors with student customers, and represented that the company needed outside investment to grow and meet the high demand for its services.

In fact, the complaint alleges, the company had very few customers and only nominal cash flow.

According to the complaint, King made misrepresentations to potential investors about the company’s historical revenue and current cash flow; the company’s assets and liabilities; the company’s operations; and the number of tutors hired and students tutored.

The complaint, filed in federal court in Massachusetts, charges King and Students of Strength with violating the antifraud provisions of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder.

Without admitting or denying the allegations in the complaint, King and Students of Strength consented to be permanently enjoined from violations of these laws.

Students of Strength also agreed to an injunction requiring the company for a period of ten years to provide all prospective investors with a copy of the complaint and final judgment in the action.

King agreed to a similar conduct-based injunction with respect to prospective investors in any entity that King directly or indirectly owns or controls, or in any entity by which King is employed or consults with in a capacity that involves offering or selling securities.

King also agreed to pay a $96,384 penalty and $115,067 in disgorgement plus $11,066 in prejudgment interest.

The proposed settlements are subject to court approval.

The SEC’s investigation was conducted by Kerry Dakin, John McCann, and Celia Moore, of the Boston Regional Office.

US Securities and Exchange Commission v. King (1:21-cv-10714)
District Court, D. Massachusetts

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Rahsaan King: The Crowned Con Artist is a Master Manipulator and System Abuser
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