Lawsuit Against Corix Bioscience, Inc. Reveals Multiple Instances of Forged Signatures on SEC Filings and Other Allegations of Fraud Against CEO Michael Ogburn

PHOENIX, AZ / ACCESSWIRE / March 1, 2018 / Corix Bioscience, Inc. (OTCQB: CXBS) shareholder, George Sharp, a well-known activist for truth in the microcap market, and a plaintiff in litigation against the company and its present and former officers and directors, announced today that during the regular course of discovery and research into the operations of the company, Mr. Sharp has uncovered a litany of fraud committed by current CEO, Michael Ogburn, and former CEO, Sean Zarinegar. As previously announced, Mr. Sharp has filed a civil complaint against the company and Mr. Zarinegar for Fraud and other causes of action. Mr. Ogburn and other officers and directors have since been added as defendants in the case. The Complaint was filed in Orange County's Central Justice Center of the Superior Court of California (Case No. 30-2017-00955435-CU-BT-CJC) on November 13, 2017. An amended complaint is expected to be filed in the coming weeks.

Among those that have already testified as to having their signatures forged on corporate documents, sworn testimony by Joaquin Flores, who was held out by Corix to be a member of its Board of Directors, but who testified that he never gave his consent to join the board, revealed that his signature had been forged on multiple documents filed with the United States Securities and Exchange Commission. In spite of the fact that documented evidence shows that as early as July 2017, Corix, Michael Ogburn and Corix Corporate Counsel, Anthony Paesano, knew of Mr. Flores objections to the use of his name and signature, no actions were taken to correct or explain the inappropriate use of Mr. Flores' name, until Mr. Sharp uncovered the fraud. In a flimsy attempt to rehabilitate itself and after it became aware that Mr. Sharp was about to issue this press release, Corix issued a Form 8-K on February 27, 2018, within which it denied the forgeries and announced that it would take a course of action to undo all of the corporate events executed under the forgeries.

Mr. Sharp commented, "In all the years that I have been an activist against penny stock fraud, I have never seen such brazen attempts to openly flaunt the law and defraud the public. Corix counsel, Anthony Paesano, already knew that Mr. Ogburn was of questionable character, as he has aided in the defense of Mr. Ogburn and his wife Debbie in an earlier action against them for embezzlement in a case alleging that Mr. Ogburn illegally sold unregistered stock and committed other indiscretions. (Scanware Solutions, Inc. v Michael Ogburn, California Superior Court in Orange County Case No. 30-2016-00871796-CU-BT-CJC). And yet, Mr. Paesano, who was already corporate counsel for Corix at the time, willingly exposed the Corix shareholders to Mr. Ogburn and his schemes."

Mr. Sharp also announced that within his upcoming amended complaint, he will detail to the court the real estate investment Ponzi-scheme concocted by defendant and former Corix CEO, Sean Zarinegar, which resulted in the defrauded investors seeing their investments unwittingly and unwillingly rolled into worthless shares of Croix stock. At that time, the company was known as American Housing Income Trust, Inc.

Extensive details and updates to this litigation are available at www.clippercp.com.

Source: Access Wire Article