A trial date has been set for July 21, 2020, in Los Angeles Superior Court for the conman king Lance Benedict and his now-defunct TTM Guitars for allegedly stealing his partners’ investment money, Chris McKenna and Step Ahead Music, LLC. Benedict is accused of taking McKenna’s $100K and pocketing it rather than using it for the corporation. Benedict was also supposed to put McKenna and another investor of TTM Guitars on the LLC paper which he never did. Benedict Illegally dissolved the LLC without asking the 61% majority ownership that consisted of Mckenna and another investor. Benedict is representing himself in this trial after making a public post stating he was hiring the same law firm the band Slayer used to sue him back in 2008.
Benedict, who’s under investigation from virtually every state and federal regulator and law enforcement agency from Florida to California, has stolen over $250,000 from customers ordering guitars that he never shipped, people investing in so-called franchises that were illegal and never came to fruition, vendors not paid, not paying rent for the custom shop and being evicted, not paying employees, to people investing into his schemes. He’s also been banned from attending any NAMM events as an attendee or exhibitor for his fraudulent activities. It’s also worth noting that Benedict is now using his wife Karen’s name on all of his PayPal transactions seeing his old account is subject to mail and wire fraud investigations.
Benedict has now opened a new Corporation based out of Florida called TTM Musical Instruments. The Florida Department of Law Enforcement and Attorney General Ashley Moody’s Office has opened investigations and is coordinating with California and Federal officials. Benedict also has active arrest warrants pending in Florida.
We will keep you updated on any new events that occur