Upload File

canrock investigated in investment scandal

4
HOME › FRONT PAGE › CANROCK INVESTIGATED IN INVESTMENT SCANDAL Canrock Investigated in Investment Scandal BY POSTPIONEER on NOVEMBER 5, 2014 • ( 0 ) By Rebecca Martelotti Assistant Features Editor Canrock Ventures, the four yearold early stage technology venture capital corporation that moved on to campus during Thanksgiving weekend 2013, failed to notify New York State officials of potential conflicts of interest. The company invested taxpayer money in local technology start ups, according to a representative at Empire State Development (ESD), New York’s chief economic development agency. The Pioneer reported on April 23, 2014, that Canrock was being reviewed by the United States Department of Treasury and (ESD) because they failed to inform New York State officials that they invested federal money into companies they owned a portion of. The investigation began in November 2013, and is ongoing. Canrock Ventures received $5.7 million in 2012 from New York State as part of the Innovate NY Fund, which was created in 2011, and invests in technology startups through venture capital firms based in New York State. Canrock Ventures received the funds so it could invest in technology startups on Long Island and in New York City. The four companies that Canrock Ventures invested in are all partially owned by the company, and are located at their LIU Post offices, according to a Newsday article published on Oct. 15, 2014. The article Search Like Us On Facebook! LIU Post Pionee 483 people like LIU Post Pionee Facebook social plugin Like Latest Issue Catch Up With The NEWS FEATURES OPINIONS ARTS AND ENTERTAINMENT SPORTS CAMPUS EVENTS ALUMNI About Contact Us Advertise Letters PDF Archives

Upload: ckiencrmlv

Post on 14-Nov-2015

222 views

Category:

Documents


1 download

Report

Tags:

DESCRIPTION

n/a

TRANSCRIPT

  • 02/04/2015 CanrockInvestigatedinInvestmentScandal|

    http://liupostpioneer.com/2014/11/05/canrocksuedininvestmentscandal/ 1/4

    HOME FRONT PAGE CANROCK INVESTIGATED ININVESTMENTSCANDAL

    CanrockInvestigatedinInvestmentScandalBY POSTPIONEER on NOVEMBER 5, 2014 ( 0 )

    ByRebeccaMartelottiAssistantFeaturesEditor

    CanrockVentures,thefouryearoldearlystagetechnologyventurecapitalcorporationthatmovedontocampusduringThanksgivingweekend2013,failedtonotifyNewYorkStateofficialsofpotentialconflictsofinterest.Thecompanyinvestedtaxpayermoneyinlocaltechnologystartups,accordingtoarepresentativeatEmpireStateDevelopment(ESD),NewYorkschiefeconomicdevelopmentagency.

    ThePioneerreportedonApril23,2014,thatCanrockwasbeingreviewedbytheUnitedStatesDepartmentofTreasuryand(ESD)becausetheyfailedtoinformNewYorkStateofficialsthattheyinvestedfederalmoneyintocompaniestheyownedaportionof.TheinvestigationbeganinNovember2013,andisongoing.CanrockVenturesreceived$5.7millionin2012fromNewYorkStateaspartoftheInnovateNYFund,whichwascreatedin2011,andinvestsintechnologystartupsthroughventurecapitalfirmsbasedinNewYorkState.

    CanrockVenturesreceivedthefundssoitcouldinvestintechnologystartupsonLongIslandandinNewYorkCity.ThefourcompaniesthatCanrockVenturesinvestedinareallpartiallyownedbythecompany,andarelocatedattheirLIUPostoffices,accordingtoaNewsdayarticlepublishedonOct.15,2014.Thearticle

    Search

    LikeUsOnFacebook!

    LIUPostPioneer

    483peoplelikeLIUPostPioneer

    Facebooksocialplugin

    Like

    LatestIssue

    CatchUpWithThe

    NEWS FEATURES OPINIONS ARTS AND ENTERTAINMENT SPORTSCAMPUS EVENTS ALUMNI

    About Contact Us Advertise Letters PDF Archives

  • 02/04/2015 CanrockInvestigatedinInvestmentScandal|

    http://liupostpioneer.com/2014/11/05/canrocksuedininvestmentscandal/ 2/4

    CanrockVenturesdidntreportpotentialconflictsinLItechinvestments,officialssaywaswrittenbyJamesMadore.Accordingtothearticle,CanrockVentureshasputnearly$2millionofInnovateNYfundsintofivestartupswhereitiseitherthelargestshareholderorownsasignificantstake.

    Wearelookingintopotentialconflictsofinterestwiththecompanyandcertaininvestmentstheymadewithinthecompany,saidJasonConwall,PressSecretaryforESD.Thereisaseriousreview[beingconducted]ofinvestments,theinvolvementofMarkFasciano,andCanrockVenturesoverall,andhowmuchofanownershipstakeFascianohasinthecompaniesthattheinvestmentswentto,Conwallsaid.

    MarkFascianoisthemanagingdirectorofCanrockVenturesatThoughtBox1inHicksville,andthefounderofthebusinessincubatorThoughtBox@LIU.Fascianodeclinedtocommentabouttheinvestigation.

    ThereisacoordinatedeffortbetweentheinvestigationsofESDandtheUnitedStatesDepartmentofTreasury.Theinvestigationiscoordinatedbutseparate,Conwallsaid.

    Canrocksofficeswereoriginallylocatedinthebasementofthelibrary,butmovedtonewofficesonthethirdfloorofHillwoodCommonsinearlySeptember,accordingtoWilliamKirker,directoroftheFacilitiesDepartment.Kirkerdidnotknowthedetailsofthecompanysleaseagreementwiththeuniversity.

    TheofficeofPresidentDr.KimberlyClinedidnotcommentontheinvestigation.ThePioneerreceivedaresponsefromDianneZoppa,DirectorofPublicRelationsforLIU.Zoppasaid,LIUPostdoesnotcommentontheinvestigationsofothercompanies.

    LIUPostStudentMagazine

    FollowUsOnTwitter

    Mondaynightlayout!!Gearingupforthenewestissue!!#postthenews2daysago

    Greatmeetingtoday!Lookingforwardtothisweek'sissue:)#postthenews2daysago

    CongratsHeatherNorris,SprtsEdit.1112,newpositionwBalt.SunMedia:Reporter4Catonsville/ArbutusTimeshttp://t.co/m0WImOSeQV1weekago

    Follow@LIUPostPioneer

    GetThePioneerDeliveredStraightToYourInbox

    Enteryouremailaddressbelowtoreceivenotificationsofweeklyheadlinesbyemail.

    Join107otherfollowers

    Enteryouremailaddress

    Follow

    YouMayLike

    1.

    About these ads

  • 02/04/2015 CanrockInvestigatedinInvestmentScandal|

    http://liupostpioneer.com/2014/11/05/canrocksuedininvestmentscandal/ 3/4

    InMemoryofDr.SeanGrennan TheresaMidtermElection?

    Sharethis:

    Print Email Facebook 2 Twitter Tumblr

    Categories: FrontPage , News

    LeaveaReply

    RECENTPOSTS

    NewDeanAppointedfor

    CollegeofLiberalArts

    andSciences

    AlarmedDoorsin

    BrookvilleHall

    NewFoodAdditions

    toCampus

    InMemoryof

    EmilyLehrman

    LibraryNotice

    BackbyPopular

    Demand:TheWCWP

    ScavengerHunt

    EscortService:Youll

    NeverWalkAlone

    ProfessorProfile:

    LindaVila

    GETTHEPIONEERDELIVEREDSTRAIGHTTOYOURINBOX

    Enteryouremailaddressbelowtoreceivenotificationsofweeklyheadlinesbyemail.

    Join107otherfollowers

    Enteryouremailaddress

    Follow

    AbigailBrosnanAdriannaAlvarezAlea

    RahimAlexParkerAlyssaSeidmanAmandaBernoccoAndreaDeignanasya

    ashourbandbreastcancer

    awarenessChangesChrista

    SperanzaChristianArnoldChristinaMorgeracollegeDanDegermanDaniNaess

    HellesundDavidOterodormsdrinkingEirikBjornofashionFeaturesfieldhockeyfood

    footballGabriellaIanirohealthHeatherNorrisHillwood

    homecominginterview

    FOLLOWUSONTWITTER

    Mondaynightlayout!!

    Gearingupforthenewest

    issue!!#postthenews

    2daysago

    Greatmeetingtoday!

    Lookingforwardtothis

    week'sissue:)

    #postthenews

    2daysago

    CongratsHeatherNorris,

    SprtsEdit.1112,new

    positionwBalt.Sun

    Media:Reporter4

    Catonsville/ArbutusTimes

    http://t.co/m0WImOSeQV

    1weekago

    Mondaynightlayout!!Get

    readyforthisweek's

    Like

    Bethefirsttolikethis.

    Follow

    Follow Get every new post deliveredto your Inbox.

    Join 107 other followers

    Enteryouremailaddress

    Signmeup

    Build a website with WordPress.com

  • 02/04/2015 CanrockInvestigatedinInvestmentScandal|

    http://liupostpioneer.com/2014/11/05/canrocksuedininvestmentscandal/ 4/4

    SteveLiebling:InWitha

    BigBangTheory

    Column:The

    StudyEnvironment

    iphoneJacklynStringhamJessicaO'DonnellJULIAN

    WILSONJuliaRosenJulieBaumgartenKahleelBraggKhadija

    GreenidgeKristianeAateigenKristy

    OconnelllacrosseLIUPostlunchMaximeDevillazMeganDraghi

    MichaelOteroMichelleMoreyMimmiMontgomerymusicNewYorkOliviaWicikOlufunmilayoCoker

    opinionPaulKalisPete

    BarellPioneersradio

    stationRebeccaMartelottirelationshipcolumnreviewRobert

    RockefellerSamanthaBishal

    seniorspotlightSGA

    SoccersportsThePioneerTiaMonaGreeneTinaKasintipsWCWPwinwomen's

    soccer

    issue:D#postthenews

    1weekago

    Pioneermeetingtomorrow

    at12:30!!Hopetosee

    youthere:D

    #postthenews

    1weekago

    theislandnow.com/sports

    /postlaCheckoutthis

    articlepublishedonThe

    IslandNow,writtenby

    Asst.SportsEditor

    ThomasScavetta!!

    #postthenews

    1weekago

    Follow@LIUPostPioneer

    CREATEAFREEWEBSITEORBLOGATWORDPRESS.COM.|THEOPTITHEME.


Eobi scandal

LAND SCANDAL

CELEBRITY AND SCANDAL 3. Suzanne Paul: Scandal, celebrity

Scandal #12

NSA Snooping Scandal

Iphone scandal

Magruder’s Government: HW #1€¦  · Web viewWhat power was important to the House Judiciary Committee that investigated the Richard Nixon Watergate Scandal? What are the 2 executive

Intre dorinta si scandal - Lorraine Heath dorinta si scandal... · Title: Intre dorinta si scandal - Lorraine Heath Author: Lorraine Heath Keywords: Intre dorinta si scandal - Lorraine

Allfirst scandal

VW Scandal

THE DEVELOPMENT OF INTEGRATED REPORTING. THE … 20… · in 2002, Tyco scandal in 2002, HealthSouth scandal in 2003, Freddie Mac scandal in 2003, American Insurance Group (AIG) scandal

Scandal - Copy

Scandal #15

Vivendi scandal

IMDB scandal

ArmorGroup Scandal

24770724 Accounting Scandal Sarbanes Oxley (World Financial Scandal)

Forestry Scandal

Unum Scandal

satyam scandal presentation

Red Bull Scandal

Satyam Scandal

Worldcom scandal

Watergate Scandal

Carrian Scandal

Scandal marketing pp2010

Worldcom Scandal

Enron scandal

Marfin SCANDAL

The Scandal

Scandal Lyrics

MAJOR PRINCIPLES OF TM1 MODEL BUILDING - Canrock

Bloomberg Terminal Scandal

Scandal #14

HYPO SCANDAL