5LINX Partners Charged With Cheating Investors

 

Three former partners of the company 5LINX Enterprises are facing charges.  Federal prosecutors charged Craig Jerabeck, 56, Jason Guck, 42, and Jeb Tyler, 44 with illegally diverting more than $4 million of company money into their own pockets.  5LINX has an Amway-type approach to sales of everything from wireless security systems to nutritional supplements. According to the company's website, 5Linx was recognized by Inc. magazine as one of the fastest growing private companies in the United States for nine straight years. Court papers claim that 5LINX has been struggling financially. Guck and Tyler are still vice-presidents at the company. Jerabeck is no longer with 5LINX. The affidavit alleges the men established shell companies to illegally divert company revenues to themselves, funneled bonuses to themselves illegally and covertly received "millions of dollars in additional compensation without the investors knowledge or permission." They will be back in court on May 5th. If convicted, they face up to 20 years in prison and a fine of $250,000.



 

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