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SPAC Recovery Co. Announces $590 Million Lawsuit Against Blackstone Products, Nomura Securities, Franklin Square, Oaktree and Others for Alleged Fraudulent Scheme

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6 months ago

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SPAC Recovery Co., formerly Ackrell SPAC Partners I Co., (the “Company” or “Plaintiff”) filed on May 13th a major lawsuit in the Supreme Court of the State of New York, seeking over $590 million in damages against various defendants jointly and severally. The defendants include North Atlantic Imports, LLC (d/b/a Blackstone Products,  Nomura Securities International, Inc., FS Credit Opportunities Corp. and related entities, Oaktree Capital Management LP and related entities , and individuals, including Blackstone’s CEO Roger Dahle and employees of other defendants.  The litigation complaint alleges a coordinated scheme by defendants (collectively the “Cabal”) to undermine the Plaintiff’s acquisition of Blackstone Products, a leading manufacturer of outdoor cooking products.  Blackstone Products was acquired in May 2025 by its leading industry competitor, Weber-Stephens Products, LLC, which is owned by the private equity firm BDT & MSD Partners .  The Company’s lawsuit, SPAC Recovery Co versus North Atlantic Imports, LLC et al, was filed on May 13, 2025 in the Supreme Court of the State of New York, County of New York, and the case index number is 652916/2025 https://iapps.courts.state.ny.us/nyscef/DocumentList?docketId=9WzEDH461bLKqpx4OmhPsA==.

The complaint describes other alleged members of the Cabal, who are not included as defendants in the initial filed complaint, including:  Ackrell Capital LLC, its’ owner Michael Ackrell and the law firm of O’Melveny & Myers (“OMM”).  The Company is currently engaged in FINRA arbitration against Ackrell Capital covering the same allegations.  During the acquisition transaction, OMM provided legal advice to the Plaintiff also well as certain members of the Cabal, namely defendant Blackstone Products, Ackrell Capital and Michael Ackrell.

“SPAC Recovery Co. was betrayed by a deliberate scheme that materially harmed our investors,” said a company spokesperson. “We are committed to holding all of the defendants accountable for their actions and securing justice for our stakeholders.”

The lawsuit accuses the defendants of breaching contractual and fiduciary duties by misusing confidential information and orchestrating an alternative transaction to exclude SPAC Recovery Co. which closed in December 2022. The complaint alleges numerous unlawful acts committed by the Cabal, led by (i) non-defendant Michael Ackrell (then Chairman of SPAC Recovery Co.’s board and owner of Ackrell Capital, which was also engaged as financial advisor to Blackstone Products) and (ii) defendant Roger Dahle (founder and CEO of Blackstone Products),  including:

  • Breaching the Business Combination Agreement, Confidentiality Agreement, and Nomura and FS engagement agreements.
  • Sharing confidential information to facilitate a transaction intended to harm the Company and benefit Blackstone Products and the Cabal.

– The complaint alleges that Nomura, which was engaged by the Company to be its advisor, misled the Company’s Board of Directors during the period of the fraud.  While Nomura claimed to the Company’s board that its’ efforts were focused solely on closing the acquisition transaction, instead it was allegedly collaborating with the Cabal in furtherance of the fraud, in violation of Nomura’s professional duties to the Company.  Specifically, it is alleged that Nomura assisted Michael Ackrell and Roger Dahle to convince investors FS and Oaktree, to participate in the competing transaction, in violation of various agreements, which caused the demise of the Company’s intended acquisition.   

Bolstering the plaintiff’s allegations of unethical and unlawful conduct by Nomura, are the recent history of regulatory and litigation issues, including:  A $50 million SEC penalty in 2022 for off-channel communications; a $35 million penalty in 2023 for residential mortgage-backed securities fraud; and multiple fines in 2025 for naked short selling in South Korea.

The Company asserts 12 causes of action against defendants, including breach of contract, intentional interference, aiding and abetting fiduciary breaches, and respondeat superior, and is seeking: (i) $54 million in compensatory damages, (ii) $537 million in punitive damages, (iii) Specific performance to enforce the BCA, requiring Blackstone Products to sell 18% of its equity to the Company, (iv) Appointment of a receiver to oversee Blackstone Product’s financial activities during litigation, and (v) Reimbursement of attorney fees and costs.

The Company is asking for any individuals with first-hand knowledge of the actions described above, which inflicted the material financial damage on the Company, to please email the Company, or via legal counsel, to discuss in confidence their possible assistance.

About SPAC Recovery Co. – The plaintiff is a Delaware corporation originally formed to pursue a merger or acquisition of an operating business, and had raised approximately $138 million for such purpose.  As a consequence of the alleged fraud, the Company is now solely dedicated to protecting the financial interest of its creditors and investors.  The Company has secured funded litigation financing which it believes is sufficient to fully prosecute its’ case against all Defendants.

For press inquiries, contact the Company via:  [email protected]

The Press Release SPAC Recovery Co. Announces $590 Million Lawsuit Against Blackstone Products, Nomura Securities, Franklin Square, Oaktree and Others for Alleged Fraudulent Scheme appeared first on Pinion Newswire.

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Jour Cards Launches iTunes Gift Card Store for Instant Apple Purchases with Bitcoin and Crypto

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12 hours ago

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November 9, 2025

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UAE , Sharjah (PinionNewswire) —

Jour Cards Store, a global leader in digital gift card sales powered exclusively by cryptocurrency, has officially launched its new iTunes Gift Card Store — allowing customers around the world to buy Apple and iTunes gift cards using Bitcoin and other popular cryptocurrencies with instant delivery and zero banking restrictions.

This expansion marks another milestone for Jour Cards as the company continues to make crypto payments more practical, private, and globally accessible.

 

 

Empowering Crypto Users in the Apple Ecosystem

Jour Cards’ new iTunes Gift Card Store lets customers purchase official Apple and iTunes gift cards in multiple currencies and denominations — including $10, $25, $50, $100, and €10–€100 values — available for 185+ countries. Each card is delivered instantly by email following blockchain payment confirmation, giving crypto users fast, private access to the entire Apple ecosystem.

Users can redeem their iTunes or Apple gift cards to purchase music, apps, subscriptions, movies, in-app content, and iCloud storage, or even to gift to others.

 

“Crypto users deserve the same convenience as traditional shoppers — but with more privacy and global freedom,” said Nemeh Issam Jarjour, sales manager. “Our iTunes Gift Card Store bridges that gap, allowing users to turn Bitcoin, Ethereum, or USDT directly into Apple products without needing a credit card or bank account.”

The Process Behind Jour Cards’ iTunes Gift Card Store

  1. Users can visit www.jour-cards.com and navigate to the iTunes Gift Card Store.
  2. There is option to choose preferred region (USD, EUR, GBP, AED, SAR, TRY, etc.).
  3. Users can select denomination in accordance with the Apple account currency.
  4. Cryptocurrency payment options include — Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance Coin (BNB), Litecoin (LTC), Dogecoin (DOGE), Dash (DASH), Monero (XMR), and others.
  5. Payment should be sent to the wallet address displayed.
  6. Digital code will be received instantly by email within 5–15 minutes after blockchain confirmation.

Gift%20Cards%20by%20Jour%20Cards Jour Cards Launches iTunes Gift Card Store for Instant Apple Purchases with Bitcoin and Crypto

 

Jour Cards’ Position in the Crypto Gift Card Market

Jour Cards Founded in 2009, Jour Cards has become a trusted name in digital e-commerce, offering over 5,000 gift cards from 2,500+ brands across gaming, shopping, and entertainment. Unlike traditional platforms that rely on fiat, Jour Cards is entirely crypto-powered, offering privacy, speed, and global access without KYC or banking restrictions.

Key Platform Highlights

  • Crypto-Only Payments: 100 % blockchain transactions — no banks.
  • Instant Email Delivery: Codes delivered in minutes.
  • Global Reach: Supports 185+ countries.
  • Top Brands: Xbox, PlayStation, Amazon, Netflix, Google Play, Steam, and now Apple.
  • Privacy & Security: SSL-encrypted checkout with blockchain verification.

Social Proof & Trust Signals

Jour Cards has earned positive customer feedback for fast delivery, transparent pricing, and responsive support.

The platform is featured on review platforms such as TradersUnion  and Trustpilot, And Scam Detector where it maintains high satisfaction ratings for reliability and instant service.

Crypto enthusiasts also highlight Jour Cards as one of the most privacy-respecting gift card marketplaces, thanks to its no-KYC, crypto-only payment structure.

With thousands of verified global customers and consistent performance since 2009, Jour Cards continues to build confidence among crypto users worldwide.

 

WhatsApp Image 2025 10 Jour Cards Launches iTunes Gift Card Store for Instant Apple Purchases with Bitcoin and Crypto

 

Building Real-World Utility for Crypto

With the iTunes Gift Card Store launch, Jour Cards continues its mission to make cryptocurrency practical for everyday purchases. The company helps bridge the gap between digital assets and real-world usability, transforming crypto into instant access to entertainment, gaming, and shopping.

“This launch reinforces our belief that crypto is not just an investment — it’s a lifestyle,” Nemeh Issam Jarjour added. “Jour Cards is giving digital assets real-world value, empowering users to live on crypto — from gaming to music to entertainment.”

About Jour Cards

Jour Cards is a global online marketplace specializing in digital gift cards and prepaid codes, available exclusively through cryptocurrency payments. Operating in more than 185 countries, the platform provides instant, private, and secure access to products from over 2,500 international brands. Established in 2009, Jour Cards’ mission is to empower global crypto adoption by delivering seamless, borderless shopping experiences for the digital generation.

 Website: https://www.jour-cards.com

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FinTex Pro Launches Fall “Fix It Right” Guarantee for Central Florida

Published

2 days ago

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November 8, 2025

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Kissimmee, FL (PinionNewswire) —

FinTex Pro, a family-owned drywall and finishing company serving Central Florida, is announcing the launch of its fall “Fix It Right” guarantee. This new service is designed to help homeowners prepare for the holiday season.

The guarantee covers damage to walls and ceilings caused by Florida’s humidity and storm activity. “We know Central Florida homes inside and out, and handle everything from popcorn ceilings to post-hurricane patch jobs. Our team treats every wall like it’s our own,” said the company’s founder.

FinTex Pro specializes in crack repair, texture matching, level 5 finishing, and post-storm restoration for residential properties throughout Central Florida, from Orlando to Wekiva Springs and the surrounding community.

Their services include:

  • Texture matching and level 5 skim coating
  • Thorough worksite management
  • Open communication throughout projects
  • Services for homeowners and real estate professionals
  • Complimentary, no-obligation estimates

Customers who schedule services by November 30, 2025, will receive complimentary texture-matching with their repair project.

The “Fix It Right” guarantee ensures all projects meet the highest quality standards. FinTex Pro is committed to customer satisfaction.

About FinTex Pro:

FinTex Pro is a family-owned and operated drywall and finishing company. They serve Central Florida homeowners and real estate professionals. Homeowners across Central Florida can schedule their free drywall repair estimate by calling (407) 785-0905 or emailing info@FinTex Pro.com. Appointments booked before November 30 qualify for a complimentary texture match upgrade. Visit their website at https://www.FinTex Pro.com/

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Zoomex Officially Joins CODE VASP Alliance

Published

3 days ago

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November 7, 2025

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Mahé, Seychelles (PinionNewswire) —

November 7, 2025 — Global cryptocurrency exchange Zoomex today announced that it has officially joined the Korea CODE VASP Alliance (Connect Digital Exchanges) and completed integration with the Travel Rule compliance system. This key technological integration marks Zoomex’s adherence to the security and transparency standards required under FATF travel rule framework for digital asset transactions.

The CODE VASP Alliance was established in 2022 to help Virtual Asset Service Providers (VASPs) meet Travel rule compliance. Through this system, exchanges can securely transmit encrypted sender and receiver identity information during asset transfers, aligning with international standards set by the Financial Action Task Force (FATF).

zoomex Zoomex Officially Joins CODE VASP Alliance

“For us, compliance is not just a procedural requirement — it’s a foundation of trust.” — Zoomex CEO
“Successfully completing the technical integration with the CODE system is a vital step toward ensuring transaction security and enhancing information transparency. It also reflects our ongoing commitment to strengthening our infrastructure.”

This collaboration not only enhances transaction security and system transparency but also provides users with a stable and trustworthy trading environment tailored to the global market.

In addition to joining CODE, Zoomex holds multiple regulatory licenses, including Canada MSB, U.S. MSB, U.S. NFA, and Australia AUSTRAC, and has successfully passed a security audit by Hacken, a leading international cybersecurity firm. Zoomex remains committed to building a more reliable, transparent, and compliant digital asset trading ecosystem.

About Zoomex
Founded in 2021, Zoomex is a global cryptocurrency exchange serving over 3 million users across 35+ countries and regions, offering more than 600 trading pairs. Guided by its core values of “Simple × Intuitive × Fast,” Zoomex delivers millisecond-level trade execution and a seamless user experience through its optimized matching engine and minimalist interface.
As the official partner of the Haas F1 Team and exclusive global brand ambassador Emiliano Martínez (World-Class Goalkeeper), Zoomex extends the speed and precision of the racetrack into its trading services.

About the Korea CODE VASP Alliance
The Korea CODE VASP Alliance is a consortium of leading Korean cryptocurrency exchanges dedicated to advancing compliance and regulatory standards in the digital asset sector.
The alliance promotes the adoption of the CODE Travel Rule solution, ensuring transparency and traceability in crypto transactions in line with global anti–money laundering (AML) and counter-terrorist financing (CTF) standards.
Its mission is to foster a safer and more reliable crypto environment for users and industry stakeholders alike.

 

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