The State of California JUST *SUED* Me | My Governor Campaign.

oh boy just like getting jumped in PvP

in RuneScape lawsuits suck especially

well if you're at risk of losing lots of

stuff because you got a skeleton

RuneScape well I just had to deal with

the legal proceeding from the state of

California and for the sake of

transparency

here's what happened it goes back to

what I ran for governor in 2021 I ran

for a governor of California so who

could be the next governor of California

according to one poll the front runner

is 29 year old YouTube influencer Kevin

pafrath what up Cali what kind of

policies you want to see me enact hit me

up in the comments like And subscribe

bye

half left

and in case you don't already know

California is my home

but it's a home that needs help Help

Housing is unaffordable schools are

dysfunctional homelessness is a human

travesty and it's a big problem in

California and some crime just goes

straight up unpunished so guess what we

see more of it anyway I ran for governor

promising to bring Financial education

to schools which I'm shocked we still

don't have and there's a lot more since

obviously I was running against the

existing Democrat Governor though I kind

of got a lot of coverage from Republican

stations and not a lot from the other

side so I was on things like Fox News

Prime Time joining me now though Kevin

pafrath he is one of the democratic

Challengers to Governor Newsom real

estate investor he's a YouTube Star Fox

Business which I say yes meet Kevin CNN

refused to acknowledge I exist Twitter

censored me pre Elon Musk and Instagram

and Facebook literally blocked and

removed my running announcement Newsome

Challenger that's me calls embattled

Governor a weenie baby

post briefly censored well apparently

Fox News reached out to Instagram and

Facebook and then all of a sudden the

post reappeared I also repeatedly got

invited to Newsmax so you can kind of

see how the media Works anyway despite a

valiant effort my campaign didn't

succeed we came in second place of

retail recall candidates with nearly 1

million votes

My Hope was though that if I failed my

ideas and Visions could live on

motivating change in California which we

actually have seen some of that come up

in other people's campaigns for the

former mayor in Los Angeles or otherwise

it's pretty exciting

but then I got a letter now I didn't

think this would happen especially two

and a half years late

but again I believe it's really

important to be transparent both with

wins and

failures I guess if you call it this I

suppose as we used to like to say when I

was a law enforcement police explorer we

would say the process is the punishment

and boy this was a process

anyway again for the sake of

transparency here you go

in May of this year I received a letter

from a department created by the very

Governor I was running against

this department is called the Department

of Financial Protection and Innovation

it was created by Gavin Newsom as an

attempt to reboot the prior Department

of Business oversight and give them some

more rules and responsibilities to

follow and otherwise okay great so what

was the letter that I got so here it is

the commissioner of financial protection

and Innovation complaintant versus Kevin

paffrath as an individual respondent and

as you can see right here the

commissioner and respondent have entered

into a consent order with the following

facts and it starts with this fact

Kevin paffrath is a California Residence

they give my license number for being a

financial advisor and they talk about

these dates specifically here and we'll

zoom out and read all of this in a

moment but from at least May 30th 2021

through June 26 2021 now these dates are

really important because what do those

dates perfectly match

they perfectly match my 32 hour Governor

live stream and take a look at this one

analyzing stocks with meet Kevin

Governor fundraiser look at the date

June 26th so see that May 30th through

May 31st I was live for 32 hours that

was a challenge we did as part of the

campaign fundraiser 32 hour live stream

and many of you came to that thank you

so much for being there and June 26th

analyzing stocks as a governor

fundraiser and what do we end up having

in the letter right here well the letter

says from at least May 30th matching

date to June 26th matching date paparath

per their allegation provided investment

advisory services in the form of

Securities analysis and portfolio

analysis to at least 10 clients during

that time pafrat did not hold a valid

investment advisor license on her about

a year and a half later pavrath filed an

application for a license to engage in

the business of investment advisor in

California pafrath by entering this

consent order neither admits nor denies

he violated any California law or

regulation now I received an original

letter from the Department of Financial

Protection and Innovation back in May of

this year so this has been going on for

four months and it's been a lot of back

and forth and it's pretty stressful to

deal with this kind of stuff the good

news is we found out that the focus of

their investigation was on these two

videos rather than my courses on

building your wealth house hack my ETF

the actual Financial advice business

that we started which is stackhack.com

which by the way I haven't changed the

pricing yet this weekend so if you still

want to go to stackhack.com

um you could join and get licensed

Financial advice from us which we're now

doing as a team I put together a wealth

plan for you and the cool thing is it's

totally legal it's totally above board

it's totally transparent and it's a

great service at a very affordable price

so check that out because we've got a

lot of clients already and we are almost

at Max anyway so the good news is

everything about the investigation

seemed to start with these two Governor

videos and what's really important about

that is that the focus of the

investigation was these two videos not

about any of my other businesses or my

courses on building your author anything

like that it was just these videos is at

least what it appeared like so the

problem they allege was that in these

videos I was too close to the border of

basically providing paid Financial

advice because what I said is hey if you

donate to the campaign I'll look at your

stock you know something like that then

just summarizing here at the time I

wasn't licensed I wasn't even thinking

about becoming licensed at the time and

I did comment on stocks in those videos

so that was too blurry and too close to

the line for California and I had to

make a choice I could fight the dfpi in

court and spend probably over another

year or two years going through

investigations over these two silly

videos digging up campaign Finance

records and disclosures and documents

which are already on record with the

state of California but you have to kind

of pull them all from the Department of

Elections and it's all a headache right

so I could go through all of that fight

or I could negotiate

fortunately I had some things going for

me as you saw last September I became a

licensed financial advisor the dfpi

actually argued that they were impressed

that I had gone through the lengths of

becoming a licensed financial advisor

but that I wasn't only licensed that I

was also running an actively managed ETF

with about 40 million dollars in assets

under management still do

they were also impressed that I was

going for my Series 7 broker dealer

license which is one of the more

challenging Securities licenses and I

want to make it clear like my goal is

always hey what can we do to not only be

compliant but be more than compliant

like how can we raise the bar on how

much we're doing to make sure we're

doing everything the way it should be

done just Thursday at 8am I sat for my

series seven and I'm excited to say I

passed now I can go on to create meet

Kevin hood and I can fight Vlad the

Impaler of stocks at his own game

you know of course we want to do

everything in a compliant manner so

where do we stand today well first let

me say this the folks at the dfpi were

incredibly nice and Cooperative so shout

out to the hard-working Folks at the

dfpi honestly like they're great they're

honest hard-working people and they're

just doing their job I don't know if

this was politically motivated by you

know like a nudge nudge wink wink from

Gavin Newsom like go get my competitors

you know it's obvious Gavin Newsom

doesn't like me but I'm just gonna go

with the non-cynical approach here and

say look these are folks who are just

doing their job we had a great

communication we had great discussions

and we realized look Kevin's going on to

doing things highly compliant in a

highly regulated world and we have faith

he's going to do the right thing we do

have to kind of put something on paper

that you know we resolved those two

videos with Kevin and the reality is

we could either fight or we could

negotiate something and see most

individuals and this is something for us

all to know as individuals most of us we

fear doing things transparently we fear

taking the time to study on Kaplan or

whatever it takes to get that new

license because oh now we have to follow

potentially more rules that's not a bad

thing that's an opportunity because yeah

you have to follow more rules but guess

what now you have more opportunities and

now folks can say hey here's my

situation what do you think Kevin and I

can actually give them personalized

Financial advice you know how every time

usually people are like oh this is not

personalized Financial advice yeah

because In fairness they don't know

about your situation but now when people

come to me and they go hey you know uh

this is my age this is my situation this

is how much debt I have this is what's

going on in business I could actually go

in there and go this is as a financial

advisor what I recommend you do and

obviously we have insurance and we're

like a real business now so like people

think like oh it's bad to deal with

Regulators but think about what it

unlocks you can actually create a real

business when you're licensed you become

an agent A lender a contractor you can

create real businesses now so you really

open up doors so I'm a big fan of this

anyway check out stackhack.com for more

of that so what came out of all of this

and how am I dealing with this because

the reality is every single business is

always going to have hoops and hurdles

and speed bumps along the way and what

defines a good business from a bad

business is how you deal with it are you

irrational are you rash do you make

stupid decisions do you keep making the

same mistake that would be an example of

a bad business so I'm excited to

announce that the dfpi and I came to an

agreement without admitting fault we

agreed to settle the problem of the two

Governor live streams for five thousand

dollars I've already paid the five

thousand dollars I asked my in-house

attorney if they take crypto and they

said no so I ach'd kind of sucks to have

to go back to the 2021 days two and a

half years ago and deal with it but

again I'm happy to say it's over now I

can focus on all of my businesses house

hacks fundraise stack hack my courses on

building your wealth I can focus on

whatever other businesses we've got

going on and I can focus on twins I have

coming my family my children I don't

have to deal with this which is good you

know people ask me what my dream is and

let's be clear it's not a number it's to

do the right thing and be um you know

modern like JP Morgan or Rockefeller or

you know the good parts but instead of

banking and oil more like real estate

and maybe ETFs right and there's only

one way to do that to be compliant and

to work with people like the FDIC finra

the SEC you name it I know the law and

follow the law so to me this is all very

motivating so I'm going to show you the

actual document again so you just so you

could see all of it since I only gave

you a little Glimpse here so again

here's the whole document in case you

want to see it this is the whole

document this is page one right here

this is where we talk about these those

dates which again those dates line up

perfectly with the governor live streams

okay anyway so uh we entered into a

consent order no admission of guilt here

it is terms and conditions it is very

simple uh don't do anything that

requires a license so like cease and

desist from unlicensed investment

advisory activities deal I'm licensed

now so I can give license Financial

advice agrees to pay an administrative

penalty of 5K I already paid it uh here

are you know basically basically you're

waiving your additional rights to like

go back and sue them and say oh I want

to fight this well it's fine it's like

let bygones be bygones there's some

other items in here but I just want you

to see like I've actually signed it it's

done it's over it's sealed it's finished

and look it's stressful but you have to

look at these things and go that's

business you know you're going to have

issues that come up and sometimes

they're old skeletons that roll out of

the closet it's like oh I didn't even

realize that was a problem that was a

year and a half before I even became a

licensed financial advisor right now I

know uh exactly what to say and what not

to say

and now we could be compliant and I'm

excited to say it's over again it was

stressful it was hard but I actually

think it's a motivating opportunity to

everyone and I think the big lesson for

everyone is to remember that everyone

faces challenges and setbacks my family

started broke with nothing

then they started a business and they

became successful and lost everything

during the.com crash and then my parents

divorced and everything went to hell so

right back to nothing

but I personally believe every obstacle

that happens in our lives is an

opportunity in Disguise it's just what

we make of them do we choose to lie down

and get beat up and crawl into a bed and

give up

or do we stand up again and get better

I choose to stand up and get better

every single day and I hope you do too

check out stackhack.com why not

advertise these things that you told us

here I feel like nobody else knows about

this we'll try a little advertising and

see how it goes congratulations man you

have done so much people love you people

look up to you Kevin path right there

financial analyst and YouTuber meet

Kevin always great to get your take