Latest news with #Grubbs
Yahoo
28-05-2025
- Business
- Yahoo
Bankruptcy trustee seeks return of payments Pickleball Rocks founder sent pre-bankruptcy
As he was faced with a growing chorus of complaints from unpaid investors, embattled Indiana pickleball entrepreneur Rodney Grubbs wired money to a select group of creditors in late 2023. From October through December that year, Grubbs sent payments totaling more than $80,000 to assuage investors in Indiana, Ohio, Florida and North Carolina. Now, the trustee overseeing Grubbs' federal bankruptcy case is attempting to claw back that money to help repay other investors who claim they are owed millions from the Brookville businessman. More: 5 things to know about Rodney Grubbs and the fraud accusations involving Pickleball Rocks In recent proceedings in federal court in Indianapolis, an attorney representing trustee Joanne Friedmeyer told the judge she tried to get several individuals to return money Grubbs had sent them in 2023 to settle debts. Still, the recipients have refused to give the money back to the bankrupt estate despite written demand. Investors from across the U.S. have accused Grubbs of operating a Ponzi Scheme, an accusation he's denied in court. He's accused of bilking hundreds of pickleball and real estate investors out of an estimated $57 million — the vast majority obtained from unsecured creditors he encountered traveling to pickleball tournaments around the country. Grubbs allegedly lured them with an exciting opportunity to secure the last remaining spot in a small circle of investors for Pickleball Rocks, his Indiana-based equipment and apparel company, in exchange for investments of $25,000 or more. Their money, he pledged, would help the business grow and fulfill bigger contracts. Grubbs issued investors unsecured promissory notes paying a 12% interest rate compounded monthly, with lump sum repayments after 18 months. Investors also were to received an 18% return if he defaulted. There was just one problem: Many said they never got their money back. In some cases, Grubbs would roll over promissory notes with continued promises to repay investors even greater dividends. However, just weeks before frustrated investors pushed Grubbs into involuntary bankruptcy, he sent $25,000 to an Ohio man on Oct. 27, 2023, and $13,792 to a Zionsville man on Nov. 28, 2023. Grubbs also sent $16,750 to a North Carolina man on Dec. 6, 2023, and made three wire transfers totaling $25,000 to a Florida man in October, November and December of that year. A fifth individual and the estate of a sixth person who received payments from Grubbs in late 2023 agreed to return the money they received, opting instead to settle for smaller amounts. The individuals who received payments from Grubbs declined to speak with IndyStar about the trustee's attempt to get back the money or did not return phone calls. Grubbs, who could not be reached for comment, made all of the payments within the 90-day period leading up to the bankruptcy filing. Friedmeyer, the trustee, claims in court documents that the transfers resulted in the individuals receiving more than they would have gotten from the Chapter 7 bankruptcy case. Neither she nor her attorney Joseph Mulvey responded to requests for comment. Alvin Velazquez, an associate law professor at Indiana University's Maurer School of Law, said bankruptcy law is typically skeptical of anything that happens during the roughly 3-month period before a business goes belly up. "When a trustee is appointed, they have to look at all of the claims and the code allows them to claw back money that was paid out 90 days before — unless the court finds that it was a typical commercial transfer," said Velazquez, who teaches classes on corporations, labor law and bankruptcy. More: 5 things to know about Rodney Grubbs and the fraud accusations involving Pickleball Rocks To the average person, this might seem unfair. But the professor, who said he has not reviewed Grubbs' case, said this part of bankruptcy law serves a purpose. "The trustee has a duty to all creditors," he said speaking generally. "It's making sure the debtor isn't preferring his uncle, his brother, his family over other legitimate creditors. " Grubbs' bankruptcy case now has 335 creditors, mostly represented by attorney Matt Foster. Several banks have also submitted claims. According to court documents, he was in debt to all of the individuals who are being asked to return money. More: Meet the attorney behind the hundreds of pickleball investors who gave money to Rodney Grubbs The attorney for Friedmeyer, however, writes the transfers were made at a time when Grubbs had more debt than assets. The trustee discovered the payments via an examination of Grubb's Statement of Financial Affairs and documents from FCN Bank obtained by a subpoena. The far-reaching case has dragged on for more than a year and half. Fed up and realizing they had been promised the same investment opportunity, a handful of investors sued to force Grubbs into bankruptcy and stop him from issuing new promissory notes. Hundreds of others also joined the case seeking repayment, including his own children. Agents from the FBI raided his Brookville home last December. Grubbs has not been charged with a crime. Last week, in a roughly 7-minute hearing, he waived the ability to do away with his debts when the Chapter 7 bankruptcy is concluded, meaning he's still on the hook to investors. The judge in that hearing said they can now pursue him outside of the bankruptcy court if they wish. Contact IndyStar investigative reporter Alexandria Burris at aburris@ Follow her on X, formerly Twitter, at @allyburris. This article originally appeared on Indianapolis Star: Trustee seeks return of money Pickleball Rocks founder sent to creditors
Indianapolis Star
28-05-2025
- Business
- Indianapolis Star
Bankruptcy trustee seeks return of payments Pickleball Rocks founder sent pre-bankruptcy
As he was faced with a growing chorus of complaints from unpaid investors, embattled Indiana pickleball entrepreneur Rodney Grubbs wired money to a select group of creditors in late 2023. From October through December that year, Grubbs sent payments totaling more than $80,000 to assuage investors in Indiana, Ohio, Florida and North Carolina. Now, the trustee overseeing Grubbs' federal bankruptcy case is attempting to claw back that money to help repay other investors who claim they are owed millions from the Brookville businessman. More: 5 things to know about Rodney Grubbs and the fraud accusations involving Pickleball Rocks In recent proceedings in federal court in Indianapolis, an attorney representing trustee Joanne Friedmeyer told the judge she tried to get several individuals to return money Grubbs had sent them in 2023 to settle debts. Still, the recipients have refused to give the money back to the bankrupt estate despite written demand. Investors from across the U.S. have accused Grubbs of operating a Ponzi Scheme, an accusation he's denied in court. He's accused of bilking hundreds of pickleball and real estate investors out of an estimated $57 million — the vast majority obtained from unsecured creditors he encountered traveling to pickleball tournaments around the country. Grubbs allegedly lured them with an exciting opportunity to secure the last remaining spot in a small circle of investors for Pickleball Rocks, his Indiana-based equipment and apparel company, in exchange for investments of $25,000 or more. Their money, he pledged, would help the business grow and fulfill bigger contracts. Grubbs issued investors unsecured promissory notes paying a 12% interest rate compounded monthly, with lump sum repayments after 18 months. Investors also were to received an 18% return if he defaulted. There was just one problem: Many said they never got their money back. In some cases, Grubbs would roll over promissory notes with continued promises to repay investors even greater dividends. However, just weeks before frustrated investors pushed Grubbs into involuntary bankruptcy, he sent $25,000 to an Ohio man on Oct. 27, 2023, and $13,792 to a Zionsville man on Nov. 28, 2023. Grubbs also sent $16,750 to a North Carolina man on Dec. 6, 2023, and made three wire transfers totaling $25,000 to a Florida man in October, November and December of that year. A fifth individual and the estate of a sixth person who received payments from Grubbs in late 2023 agreed to return the money they received, opting instead to settle for smaller amounts. The individuals who received payments from Grubbs declined to speak with IndyStar about the trustee's attempt to get back the money or did not return phone calls. Grubbs, who could not be reached for comment, made all of the payments within the 90-day period leading up to the bankruptcy filing. Friedmeyer, the trustee, claims in court documents that the transfers resulted in the individuals receiving more than they would have gotten from the Chapter 7 bankruptcy case. Neither she nor her attorney Joseph Mulvey responded to requests for comment. Alvin Velazquez, an associate law professor at Indiana University's Maurer School of Law, said bankruptcy law is typically skeptical of anything that happens during the roughly 3-month period before a business goes belly up. "When a trustee is appointed, they have to look at all of the claims and the code allows them to claw back money that was paid out 90 days before — unless the court finds that it was a typical commercial transfer," said Velazquez, who teaches classes on corporations, labor law and bankruptcy. More: 5 things to know about Rodney Grubbs and the fraud accusations involving Pickleball Rocks To the average person, this might seem unfair. But the professor, who said he has not reviewed Grubbs' case, said this part of bankruptcy law serves a purpose. "The trustee has a duty to all creditors," he said speaking generally. "It's making sure the debtor isn't preferring his uncle, his brother, his family over other legitimate creditors. " Grubbs' bankruptcy case now has 335 creditors, mostly represented by attorney Matt Foster. Several banks have also submitted claims. According to court documents, he was in debt to all of the individuals who are being asked to return money. More: Meet the attorney behind the hundreds of pickleball investors who gave money to Rodney Grubbs The attorney for Friedmeyer, however, writes the transfers were made at a time when Grubbs had more debt than assets. The trustee discovered the payments via an examination of Grubb's Statement of Financial Affairs and documents from FCN Bank obtained by a subpoena. The far-reaching case has dragged on for more than a year and half. Fed up and realizing they had been promised the same investment opportunity, a handful of investors sued to force Grubbs into bankruptcy and stop him from issuing new promissory notes. Hundreds of others also joined the case seeking repayment, including his own children. Agents from the FBI raided his Brookville home last December. Grubbs has not been charged with a crime. Last week, in a roughly 7-minute hearing, he waived the ability to do away with his debts when the Chapter 7 bankruptcy is concluded, meaning he's still on the hook to investors. The judge in that hearing said they can now pursue him outside of the bankruptcy court if they wish.
Yahoo
23-05-2025
- Yahoo
Columbus principal's confrontation with officer did not violate policy, district says
COLUMBUS, Ohio (WCMH) — Columbus City Schools completed its investigation into a confrontation between administrators at Ridgeview Middle School and a Columbus police officer, with a recommendation of no further administrative action. In a letter to families, Chief Transformation and Leadership Officer Dr. Corey D. Grubbs said the March 17 incident was reviewed by the Columbus City Schools Labor Management and Employee Relations team, which determined that no district policy was violated. 'The review determined that the actions of Principal Natalie James, Secretary Jackie Nash, and Safety and Security Specialist Larry Howell during the interaction with the Columbus Division of Police did not violate District policy and expectations, and no further administration action was recommended,' Grubbs wrote. Poisonous plant rapidly spreading across Ohio: what to do if you see it Grubbs said the video circulating on social media of the interaction does not capture the full context of the interaction. 'It is important to emphasize that Columbus City Schools and the Columbus Division of Police are committed to respectful, safe, and professional interactions at all times,' Grubbs wrote. 'Our school staff and CPD officers receive training in de-escalation and are expected to treat all individuals with dignity and fairness.' The officer involved in the interaction, Keith Conner, confronted the school board at Tuesday's meeting, indicating that this was not the first time officers have had issues at the school. 'In that video, you may see my frustration,' Conner said during public comment period of a Columbus City School Board meeting Tuesday, adding that it's been a culmination of years dealing with the school. 'My frustration still continues to this day.' Police officers were called to Ridgeview Middle School to investigate a threat, which was deemed not credible by school officials. Columbus police body camera video shows the officers, once inside the school, being told they can't go any further, sparking a disagreement between the principal and a police officer. Ohio Republican explains why he voted against Trump's 'big, beautiful bill' In the video, the school's secretary can be heard saying, 'Those guests you are expecting have arrived,' into a radio. 'You have to wait until they come to get you, sir,' the receptionist said. 'I'm here on official police business,' the officer said. 'I get that, but I just radioed for security, and you have to wait until they come to get you, OK? I'm just saying those are the rules I've been instructed,' she said. She tells officers they need to wait for the school security team. 'Okay, we have authority over safety and security, do you understand that?' Connor said. 'Columbus police have authority over…' 'You do not have authority over my principal,' the secretary said. 'So she tells me that for you guys to wait, you're not the first one to go through this. And I'm not trying to be combative, but he told me to let you know, let him know when you got here. He's coming to get you.' The woman and police continue to talk back and forth for about four minutes. Then James enters. 'If we have an emergency at the school, I should not have, I should not have to explain to this woman why I'm here,' Connor said. 'I don't come here for my, for party time. I come here on official police business. This is a game we've been playing for years. This is a game we no longer want to play with you. You should be welcoming us. You called us. But if you don't want me here, and if you want me to beg you, get through that door. Don't call me now.' The City of Columbus Department of the Inspector General is separately reviewing the officer's actions. That review had not been completed as of Wednesday. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Business Insider
21-05-2025
- Business
- Business Insider
A YouTube alum's next move: turning viral cartoons into big business
An early architect of YouTube Kids has launched a new startup aiming to turn animated characters born on social media into global franchises. Visional Pop will invest in and partner with animation creators, including those making comic-style and short-form videos on X and Instagram. It plans to help creators cultivate a presence on YouTube and other platforms and monetize mostly via consumer products, including toys and apparel. Visional Pop was founded by Ben Grubbs, a YouTube and Turner Broadcasting alum and longtime investor in the creator economy. A firm he cofounded, Creator Sports Capital, recently led a $45 million investment into Good Good Golf. Shortly after Visional Pop was founded late last year, it acquired YoBoHo — a 15-year-old, Mumbai-headquartered YouTube network that owns and operates over 150 channels in the kids' space. Grubbs declined to share the acquisition price, but said YoBoHo will play a key role in the company's mission. Visional Pop will harness YoBoHo's content distribution and audience development expertise, as well as its production infrastructure, to build YouTube channels for the creators it's working with. YoBoHo reaches more than 200 million unique viewers monthly. In addition to incubating its own channels, it has developed YouTube channels for third parties, said founder and CEO Hitendra Merchant. Selling products is one way creators can turn their content into a big business. Many influencers make money from the sales of items like T-shirts, keychains, and chocolate bars. However, Trump's tariffs have squeezed some pockets of the creator merch industry, such as plushies, and they have had to adapt. Visional Pop will be based in Los Angeles, but Grubbs said he's assembling a team in Japan focused on product design and manufacturing. Visional Pop will announce the first slate of creators it's investing in in the coming months. Grubbs said it's seeking family-friendly characters that appeal to children and adults alike. Grubbs said he's been particularly inspired by the animated character IP market in Japan. One example is Chiikawa — a character that originated on X and has spawned dedicated retail stores in Tokyo. "Our aspiration is to have IP that we develop and that we partner with and invest in that's going to be recognized by our grandkids," he said.
USA Today
13-05-2025
- Sport
- USA Today
Notre Dame 2026 commit earns a huge Florida high school football honor
Notre Dame 2026 commit earns a huge Florida high school football honor Honored to be voted on and selected as the Seminole County 'PLAYER OF THE YEAR' after having a great Junior Season going to our schools 1st ever State Championship, Throwing 3,024 yards and 37 TDs 🐏 Wouldn't be here without my coaches, teammates, trainers, teachers and family!… — Noah Grubbs ✞ (@NoahGrubbsQB) May 13, 2025 Notre Dame football landed its 2026 quarterback Noah Grubbs fairly early into the process, and it is looking like a huge recruiting win for the Blue and Gold. The Florida star has been committed since June 1st of last year, and has been very pro-Irish on social media, pushing others to join him in the class. The 6-foot, 4-inch and 188-pound quarterback had a phenomenal junior year, and on Monday was named as the Seminole County Player of the Year. Grubbs guided his team to the state championship game, while throwing for 3,024-yards with 37 touchdown passes. Ranked as the No. 174 overall prospect according to the 247Sports Composite Rankings, he's regarded as one of the best quarterbacks in the nation. The Irish got one of Florida's best to come up North, as big things are expected from Grubbs when he arrives on campus. Congrats on the honor Noah, we look forward to seeing you dominate during your senior season before heading to South Bend.
