I had heard of buying an existing corporation with excellent credit for the purpose of aquiring lines of credit that could be used to invest in real estate. Along came Dudley Gee (who supposedly owned the company and lived in Washington where I eventually sent the money) and Mike Smith (who was simply the sales rep and lived in Ohio and apparently goes by the alias Mike Dunnuck). Mike seemed professional and even drove to my home in Miami, Florida! We sat over the dining room table for a couple of hours and he just went on and on about all of these great investments he was in on.
To make a long story short I bit and sent the initial seed money of $8,000.00 to Washington so that the paperwork could get started. The way it was setup is that another $8,000.00 was due once I borrow on my credit line in the amount of $50,000.00 within 30-60 days. The credit never came and neither did the corporation I had purchased so I sent them to collections demand for payment and luckily recovered the entire amount minus the FedEx fee for payment. I consider myself very lucky and my reporting them to the Better Business Bureau apparently got them a negative rating http://www.thebbb.org/commonreport.html? Bid=18025343 because they never resolved their issues with me, not a call, not a note, not an email, even after the funds were withdrawn from their account! Stay away if you want to avoid aggrvation and worse, tremendous financial loss.
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