Mr. Carlos Arreola, and his family owned a company called Lareneg, Inc. DBA General Electronics. In 2007, Mr. Arreola and past CEO Gregory Odell had reached an agreement for Orbital Enterprises, Inc. (OE) to acquire Lareneg, Inc. for stock. During the escrow period, Orbital’s past corporate attorney Mr. Carmine J. Bua notified the
Orbital Board of Directors that Lareneg, Inc. had an undisclosed IRS issue of at least sixty thousand dollars ($60,000), thereby violating the terms of the acquisition agreement. But since Mr. Arreola had already secured over eight hundred thousand dollars ($800,000) in funding, he was granted a franchise agreement. In addition, he received a position with OE as Vice-President and was named to the Board of Directors.

In June of 2008, Robert Meyer, an OE shareholder was elected to succeed Mr. Odell. Previously in May of 2008, Mr. Arreola leased a beautiful new BMW Z4 Roadster automobile for his wife. Normally this would not be an issue, but Mr. Arreola leased the vehicle under the company, Orbital Enterprises, Inc. This lease went undetected because he paid the bill some other way. Now, the question – was any of  OE’s funds
used to make the lease payment?

After this investigation was initiated, Mr. Meyer secured the corporate emails of the Arreola family under his control, and has spent countless hours reviewing those emails. Afterwards, Mr. Meyer came across a letter dated March 24, 2011  that was scanned and emailed to Mr. Arreola’s private hotmail account by one of his two daughters that worked for him at OE. This was a Notice of Default (NOD) to OE, which stated that OE had ten (10) days to  pay the past due balance and reclaim the car, or pay over thirty one thousand dollars ($31,000) for early termination of the lease. Thus, Mr. Arreola had a personal debt that OE ended up receiving the liability.

Later that year, Mr. Arreola (perhaps to pay his BMW lease) “hand wrote” an agreement to sell shares of the Company to an individual for ten thousand dollars ($10,000).  Then, in August of 2011, Mr. Meyer was informed of this incident because the “shareholder” never received their shares or the return of their money. This ordeal was just simple securities fraud, that as you may guess, Mr. Meyer has to handle. Fortunately, the victim has been cooperative with this investigation. To date, no charges have been filed. It has also been revealed that another transaction of this type occurred in early 2011 which are currently under investigation.

Furthermore, in 2009, OE’s franchise in General Electronics did what they have done before at least three times (that is known) – defaulted on an existing lease with their landlord. In 2007, Carlos and his wife signed a lease on a commercial building in El Cajon, California. Business seemed to be going well until OE received a call from the landlord looking for help to collect over seventy thousand dollars ($70,000) in unpaid
rent. In spite of OE trying to help by paying the landlord ahead of General
Electronics, they, OE were also named in the lawsuit. Finally, with legal fees
mounting and the poor handling of customers by Mr. Arreola’s group, all income
ceased in January of 2011. Further information to follow.