Conman extraordinaire Lance Benedict has been trying to keep his TTM Guitar scam afloat while some of his closest allies and confidants have finally realized that they’ve been scammed and will never see a penny of the initial investment they’ve given him for a percentage of ownership of the TTM Guitars LLC he illegally dissolved back in August.
As Benedict’s former partner Chris McKenna states in his lawsuit against him, he was supposed to receive 36% ownership in the TTM Guitar LLC. Another investor who was involved was to retain 25% ownership in TT Guitars LLC. Together, they had majority ownership at 61%, while Benedict retained 39% being the minority owner.
When Benedict filed the dissolution of TTM Guitars LLC, he illegally did so as he didn’t consult with the majority ownership (61%) about doing so. According to California Secretary of State Office, illegally filing a dissolution without all parties’ consent constitutes a felony crime. The two investors who have majority ownership have legally binding paperwork with Benedict that changes this from a civil to criminal investigation on this matter.
One thing to note is Benedict filed for Bankruptcy back in 2012 and is eligible to file now that his 7-year wait is over. If McKenna’s lawyer proves fraud in his lawsuit, Benedict won’t be able to have that suit discharged in a bankruptcy proceeding or any other suit brought against him and proven to be fraudulent.
Nowhere in the above official documents is Chris McKenna’s or the other investors’ names signed onto the paperwork.
As of this writing, Benedict is still avoiding being served with McKenna’s lawsuit as he won’t answer the door when Sheriff’s Deputies are trying to make contact to serve him.
From the illegal dissolution of the LLC, we go to the Illegal franchises he scammed people’s money for. Some of his fiercest supporters have finally woken up to realize their money is gone, and all there receiving from Benedict is excuses and delays.
Mark Kendall from Great White to All That ShredsWith his inner circle falling apart, most are finally seeing that Benedict is doing nothing but stealing their money and not giving them anything that was promised. Either by people investing in his illegal franchises or trying to purchase a “USA” made guitar, which most have received poorly made AliExpress China made garbage.
He’s been banned from attending NAMM as an exhibitor or attendee. He’s under investigation from the State of California Department of Oversight, Tax, and Fee Administration, California Attorney Generals Office, Federal Trade Commission, and US Postal Inspection Service for illegal franchises, Tax fraud, Workmans Comp fraud, mail fraud, wire fraud, and we can now add the California Secretary of States Office in the hat as they’re going to be conducting a criminal investigation. These investigations usually take some time to investigate and refer their findings to prosecutors. With the available figures, it’s safe to say that Benedict has taken over $250,000 from people starting in 2017 to present for alleged illegal purposes. These kinds of figures can’t be ignored by the agency that could finally bring Benedict down. The Federal Bureau of Investigation.
With all of his victims ready to talk, the FBI is prepared to listen. Benedict will continue to post his fantasy stories about how he’s the victim to whatever sheep are left to listen to his dribble. I believe this guy said it best:
With his “online” law degree and smooth-talking, Benedict will try at all costs to avoid a possible federal indictment.
This story is always evolving, and we’ll report the latest when we receive it