Read the Evidence
A Bloomberg Reporter's Investigation Was Written For Him
Nine of Michael Bologna's questions trace to an anonymous attack document authored by the people Solidaris Capital is suing.
Bloomberg Tax reporter Michael Bologna has spent five months investigating Solidaris Capital. He has contacted the company's partners, its charity recipients, and its investors. He has told third parties that Solidaris is operating illegally. He has cited "whistleblower complaints filed with the Senate Finance Committee" as evidence.
There's one problem. His questions weren't his. They were copied, in some cases word-for-word, from an anonymous, unsigned opposition research document created by the people Solidaris is suing in three states. The "whistleblower complaints" he cites contain identical language to that same document. There is no independent source. There is a single document, repackaged through multiple channels to look like corroboration.
On March 16, 2026, Solidaris filed a formal complaint with the Senate Finance Committee documenting the abuse. Solidaris signed its name. The anonymous filers did not.
Michael Balogna
"As for your claims about the purported 'white paper' and the nature of Mr. Bologna’s sources, you are simply mistaken."
-Jeremy Chase, Davis Wright Tremaine LLP, counsel to Bloomberg Industry Group, March 20, 2026
Bloomberg’s lawyer says we’re mistaken. He doesn’t say which part. He doesn’t address the evidence. So here it is. Judge for yourself.
1. Bulk Licensing Terms (VERBATIM)
Anonymous White Paper
"...a bulk purchase of IP licenses at a price at least 94% less than ‘retail,’ as long as IP Seller agrees not to sell any IP to anyone else for less than retail for at least 5 years"
Bologna’s Questions
"...buy bulk IP licenses at a price ‘at least 94% less than retail,’ as long as IP seller agrees not to sell any IP to anyone else for less than retail for at least 5 years’"
Date: 3/11/26
Word for word. Are we mistaken?
2. "Effectively Guaranteed" 5x Return (VERBATIM)
Anonymous White Paper
"a 5x valuation increase that is effectively guaranteed in video presentations"
Bologna’s Questions
"you ‘effectively guarantee’ investors...a tax deduction of five times their initial investment"
Date: 3/11/26
Same coined phrase. The white paper created it. Bologna adopted it. Are we mistaken?
3. Fee Structure Allegation
Anonymous White Paper
"Almost 65% of the $200 million went directly to...Geoffrey Dietrich and his affiliates"
Bologna’s Questions
"approximately 62% of funds flowing to Dietrich-affiliated businesses" / "75% of every dollar raised is eaten up"
Date: 10/10/25
Same allegation. Different math. Both conflate payments to independent third parties with Solidaris compensation. Are we mistaken?
4. 20x Valuation Characterization
Anonymous White Paper
"a valuation of 20 times the price paid by Investor LLC"
Bologna’s Questions
"allegations of a ‘20X multiple’ in valuations"
Date: 10/10/25
Same multiplier. Same framing. Are we mistaken?
5. Attack on the Appraiser
Anonymous White Paper
"The appraisal firm is a one-person shop as no legitimate appraisal firm would provide such outrageous valuations"
Bologna’s Questions
"Your background appears to be in machinery and industrial equipment. In what regard are you qualified?" / "How much have you been paid?"
Date: 10/7/25
The white paper identified the target. Bologna executed the playbook. Are we mistaken?
6. Spizzirri / Colors4Kids Family Connection
Anonymous White Paper
Footnote 4: "in Color4Kids, IP Seller is the father of the tax opinion writer"
Bologna’s Questions
"Paul Spizzirri stands to profit from Colors4Kids based on his relationship to Spizzirri Creative. How does this qualify as arm’s length?"
Date: 10/10/25
Same transaction. Same footnote-level detail. Are we mistaken?
7. Pricing Restrictions as "Market Manipulation"
Anonymous White Paper
"...agreement not to sell the IP for less than ‘retail amount’ to anyone else...clear evidence of valuation manipulation"
Bologna’s Questions
"Do 5-year restrictive agreements prohibiting technology sellers from selling below ‘full retail value’...thereby manipulating fair market value?"
Date: 10/10/25
"Manipulation" is the white paper's word. Bologna adopted it verbatim. Are we mistaken?
8. SCET Comparison Framework
Anonymous White Paper
"...agreement not to sell the IP for less than ‘retail amount’ to anyone else...clear evidence of valuation manipulation"
Bologna’s Questions
"Do 5-year restrictive agreements prohibiting technology sellers from selling below ‘full retail value’...thereby manipulating fair market value?"
Date: 10/10/25
"Manipulation" is the white paper's word. Bologna adopted it verbatim. Are we mistaken?
9. White Paper Cites Its Own Counterclaim as Fact
Anonymous White Paper
Cites Head Genetics’ counterclaim with paragraph-level footnotes (¶¶ 74-78, 79) and presents self-serving allegations as established fact
Bologna’s Questions
"We reviewed the counterclaim against Solidaris and Geoffrey Dietrich filed by Head Genetics"
Date: 10/10/25
The white paper's author cited their own litigation filing. The reporter admitted reviewing the same filing. Are we mistaken?
Bloomberg’s lawyer reviewed this evidence and responded with four words: "You are simply mistaken."
He did not identify which match is mistaken. He did not explain the verbatim language. He did not address the source compromise. He did not deny the white paper exists. He said we’re wrong without saying what we’re wrong about.
We provided the evidence. Bloomberg provided an adjective.
Read the full Source Compromise Analysis
Read Solidaris’s complaint to the Senate Finance Committee
Who Wrote The Blueprint?
These Are the 'Whistleblowers"
Fabian Maclaren, CEO, Head Genetics Claims unverifiable "$500 million exit." Company has zero funding, zero FDA filings, zero clinical trials. Accused of spending $2.2 million in cash from company funds while insolvent. Company administratively revoked in Tennessee.
George Gallo, Co-Founder, Head Genetics Background: branding and graphic design. No medical or regulatory experience. Accused of renting $5.5 million waterfront home on company funds while insolvent.
Mark Bianchi, Former COO, Cirrus Investments Over $2.5 million in tax liens. Pattern of dissolved entities. $4 million alleged past-due in divorce. Client success stories on his website copied from a NASDAQ-listed company. Promotes himself as a tax planning expert.
Nicholas Bianchi, OptiHealth Management Mark Bianchi's son. Handled investor communications through an email Head Genetics placed on its own website.
Janna Scott, Elite Advisors Designed the tax structure of the Head Genetics offering. Claims to have "worked with" the IRS and SEC. Public records show state-level government finance roles only. Not an IRS agent.
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