Stakeholders Accuse Black Rifle Coffee Company CEO of Fraud in Blistering Public Letter
Evan Hafer, Chairman and CEO of Black Rifle Coffee Company (BRCC), is being accused of fraud by the company’s own stakeholders.
1791 Management LLC issued a public letter addressed to Hafer on May 17, claiming that Hafer “may be one of the most dangerous CEOs in America” for the “harm” caused to “shareholders and military veterans” by his actions. 1791 Management LLC represents shareholders of the BRCC.
“Please do not confuse our stake as a vote of confidence in the Company’s Leadership,” they stated.
“We have conducted a thorough review of your Company, including actions by management, and reviews of your SEC filings. Combining this with our numerous conversations with Black Rifle lawyers and executives, we have uncovered what we believe to be the most harrowing strategy to line your pockets at the expense of others,” 1791 Management added.
They are blowing the whistle about Hafer’s “profiteering” behavior and “shameless” exploitation of military veterans to “line his pockets.”
Furthermore, we believe your actions as CEO reveals a pattern of gross negligence and dereliction of duty that can expose the Company to a tsunami of litigation, which we believe your public shareholders deserve to be made aware of,” they stated.
“We believe your plan was designed to artificially inflate your stock price by keeping the availability of Black Rifle’s stock off the market,” 1791 Management wrote in the letter before laying out the fraud blueprint they believe Hafer followed.
“Just in case you hadn’t noticed Mr. Hafer, Black Rifle lost $4.8 billion in value (from $7.3 billion down to $2.5 billion) over the three-month period that you made tens of millions off your own stock. I find it hard to believe you were looking out for your shareholders as you were raking in the money. My heart sincerely goes out to each of those that were not so fortunate,” they added.
Big League Politics reported on how the BRCC threw 2nd Amendment hero and “free as f*ck” exonerated patriot Kyle Rittenhouse under the bus when he was being crucified for exercising his right to self-defense against left-wing terrorists in Kenosha, Wisc.:
“Black Rifle Coffee, a coffee company based in Salt Lake City, is not defending 17-year-old Kyle Rittenhouse.
The company said that it was against a tweet that Blaze Media reporter, Elijah Schaeffer, posted that featured Rittenhouse wearing a Black Rifle Coffee Company shirt captioned “Kyle Rittenhouse drinks the best coffee in America.” Rittenhouse was released on November 20, 2020 after supporters were able to raise $2 million for his bail.
In the tweet, Schaeffer posted a discount code for the coffee. Sara Tabin of The Salt Lake Tribune noted that online Twitter users “questioned whether the coffee company had a sponsorship deal with Rittenhouse and accused it of supporting murder and hate.”
This prompted Black Rifle Coffee, the sponsor of the Slightly Offens*ve podcast, to release a statement on November 21 declaring that it is not sponsoring or supporting Rittenhouse.
Initially, there was a misunderstanding about the company withdrawing its sponsorship of Slightly Offens*ve. However, a spokesperson for the company told the Salt Lake Tribune on November 21 that “We are not fluctuating our ad spend.” The coffee spokesperson added “We did have a conversation with Schaffer, and he understands that the post was a mistake.”
She stressed, “We don’t traffic in national tragedy and to us, that’s what this is. We are not legal experts or members of law enforcement. We fully support all law enforcement officials and believe in the integrity of the legal system.”‘
Hafer appears to believe he can grift conservatives out of their money while laughing at their heroes and their ideals. However, if the allegations from 1791 Management are legitimate, it seems his shyster overpriced coffee operation may be coming to an end.