Peter Scalise III and The3rdBevco Inc.

The Securities and Exchange Commission (SEC) charged Peter Scalise III and The3rdBevco Inc. with defrauding investors through a multi-million dollar offering fraud. The company raised approximately $3.6 million from investors based on materially false and misleading statements, misusing over $850,000 of investor funds for personal expenses. The SEC's complaint alleges that Scalise and The3rdBevco engaged in deceptive conduct, including misrepresenting the use of investor funds and selling unregistered securities to the public without an exemption. They agreed to pay more than $1.1 million to settle charges.