Independent Journalist GrantSmith – Ellis writes
By: Grant Smith-Ellis
Date: 1/13/25
Time: 7:30pm ET
Per sources with direct knowledge, Massachusetts operator Greatest Hits is $18,000,000 in debt, has only $400,000 or so cash on hand, and has formally made the decision to hand company operations over to a receiver ahead of a potential sale.
Furthermore, say sources, the firm’s Taunton location may not be able to continue operations (as the company has not been paying rent, and appears unable to obtain a new lease because of a lack of funds).
Last month, I reported that there was an amended complaint filed in the major federal fraud lawsuit involving Greatest Hits (a company reported to be under CCC investigation, and a firm with direct ties to former CCC Executive Director Shawn Collins), and I can now also report that the lawsuit in question has been settled. Read more background on that CCC investigation here – https://www.patreon.com/posts/84861574
The amended complaint alleged two owners of the company –Joseph Villatico and Rhett Jordan– are personally responsible for Massachusetts state securities fraud violations (which can be heard in Federal Court).
Furthermore, the complaint seeks to force Greatest Hits to turn over company property and real estate –located at 35 Chase Avenue, Dudley, MA– for the purposes of satisfying an alleged $150,000 that was invested by the plaintiff in the case but never converted into ownership shares, or returned, by management of Greatest Hits.
The the amended complaint, in full, here – https://drive.google.com/file/d/1NJOwNw4oru0AJd2XNuPx2Nn47sVOV6DG/view?usp=sharing
Previously, I reported that Greatest Hits founder, Joe Villatico, is using a network of shell companies to avoid paying back creditors and, in a more concerning development, Villatico is alleged to be controlling the daily operations of Greatest Hits despite ongoing criminal charges that could put the firm’s license in jeopardy.
Read his full report at
