Old Glory Holding Company to File Motion to be Dismissed from GloriFi Lawsuit

“As a lawyer, I find it disturbing that Plaintiffs have so easily made false claims and asserted false facts about Old Glory Holding Company and its affiliates,” says Mike Ring, Co-founder, President and CEO of Old Glory Holding Company

ELMORE CITY, Okla.–(BUSINESS WIRE)–Old Glory Holding Company recently learned that it was named in a lawsuit involving GloriFi filed in the United States District Court for the Northern District of Georgia.

Specifically, GloriFi founder Toby Neugebauer alleges in the suit that Old Glory Holding Company was secretly created by GloriFi investor Nick Ayers, also named a defendant, and that Ayers and Old Glory Holding Company planned to use its wholly-owned subsidiary Old Glory Bank, a chartered FDIC-insured bank headquartered in Oklahoma, as “GloriFi’s banking arm once they seized control of (GloriFi) from Neugebauer.”

“Never once did lawyers for Plaintiffs reach out to me to confirm whether a single fact asserted in this complaint about Old Glory Holding Company is correct. As a lawyer, I find it disturbing that Plaintiffs have so easily made false claims and asserted false facts about Old Glory Holding Company and its affiliates,” says Mike Ring, Co-Founder and President and CEO of Old Glory Bank.

Old Glory Bank is the brainchild of Eric Ohlhausen and Mike Ring. The story of the creation of Old Glory Bank was recently featured in an article at Share the Outdoors, “My American Freedom met a 2nd Amendment Firewall – I needed a New Bank!

“From the beginning in early 2021, the co-founders and team members of Old Glory Bank have worked tirelessly to create a pro-America, FDIC-insured bank with the industry-best mobile banking for consumers and businesses. We serve customers in all 50 states, and we never once considered taking the easy route of being a ‘challenger’ bank like GloriFi,” continues Ring.

As previously reported in many media interviews, in the fall of 2020, Eric Ohlhausen, Co-Founder and Chief Strategy Officer of Old Glory Bank, called Mike Ring, his longtime friend and lawyer, about the idea for a pro-America Bank. On January 20, 2021, after Ring listened to Mike Lindell on the Sean Hannity Radio show and heard how major retailers recently canceled him, Ring called Ohlhausen and confirmed the brilliance of his idea, which was the need to start a pro-America Bank that would protect Americans from being canceled. Ring formed the first Old Glory company in March 2021 and filed the first trademark for Old Glory Bank in March 2021, long before GloriFi was created.

The first trademark for GloriFi was filed more than five months after the first filing for Old Glory Bank. “It’s not lost on anyone that GloriFi’s mark was confusingly similar to the Old Glory Bank mark, so we filed an objection to their mark with the USPTO,” states Ring. “I never met or talked to Nick Ayers or anyone listed in this lawsuit or otherwise about GloriFi in 2020, 2021, or 2022. Not a single person mentioned in this lawsuit or otherwise connected to GloriFi’s operations (including Nick Ayers) has ever been an employee, advisor, or stockholder of Old Glory Holding Company or its affiliates. We heard about GloriFi only after I started making investor pitches and assembled our great founders and team. I can assure you, if anyone should be filing claims, it’s us against them, but we have been too focused on providing the best banking products and services to America,” states Ring.

Old Glory Holding Company will be demanding that counsel for Plaintiffs voluntarily dismiss Old Glory Holding Company from this lawsuit. If they do not, Old Glory Holding Company will file a motion to dismiss and seek all additional remedies available from these unsupported claims.

About Old Glory Bank

Old Glory Bank is an FDIC-insured chartered bank that offers the best mobile banking solutions for consumers and businesses, from sea to shining sea. Old Glory Bank is committed to serving those who feel marginalized for believing in the greatness of America. Old Glory Bank was co-founded by some of the leading voices supporting freedom and love of country, including former Secretary of Housing and Urban Development, Dr. Ben Carson; Radio and Television Host Larry Elder; country music superstar, TV host, entrepreneur, and songwriter, John Rich; and former two-term Governor of Oklahoma, Mary Fallin-Christensen. Visit www.oldglorybank.com. We Stand with You. No Matter Where You Stand.

About Old Glory Holding Company

Old Glory Holding Company is a Delaware Bank Holding company that was formed in November of 2021, and is the sole parent company of Old Glory Bank.

About Old Glory Intellectual Properties Holding

Old Glory Intellectual Properties Holdings is a Georgia limited liability company that was formed in March of 2021, and is wholly owned by Old Glory Holding Company.


Jules Wortman


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