I am a former employee of Wealth Systems, Inc. And although they may not have done everything by the book they did follow certain steps to alleviate problems such as the FTC shutting them down on Feb 3. The real fraud is the FTC as they are grossly negligent in the handling of the entire case and the CPA firm that handled the receivership while it was in the matters of the Government.
I was present when the United States Federal Marshalls, Phoenix Police Department, CPA firm and Attorneys for the FTC raided Wealth Systems, Inc and E-Commerce Network located on the 22nd floor of the Garden Hilton Inn at 4000 N. Central Ave. We were lied to from day one from the FTC and the real victims are the employees of WSI and E-Commerce Network.
The big bad bully FTC and the CPA firm representing them point blank rounded us all up like criminals and would not allow us to leave until they have forced us to sign an affidavit and take our ID to check for warrants, etc. Whatever happened to innocent until proven guilty?
The CPA and FTC blatantly lied to us and misrepresented from day one and I am seeking an attorney that will file a class action lawsuit against the FTC and CPA firm to collect unpaid wages.in their exact words, "We don't know exactly what is going on and it will take us the next 16 days to decide on how this business is run but until then it will be business as usual and we are your new boss."
The next question was by an employee knowing that we would be paid the next day wanting to know about our paychecks. CPA and FTC's response was, "Paychecks WILL be issued as usual as it is business as usual until we can sort out exactly what this business does and how it operates and make a decision from there." The CPA and FTC had absolutely NO intent of ever seeing that the employees would be paid as they are just "SOL".
I received a voice mail on my cell phone later that night that operations was ceased and that no paychecks would be issued and to stay tuned for the website for further information.
I checked on the website the next few days and it was not up. Finally the website was up and it said stay tuned for an interim claim form for payroll. To this date there has NEVER been a interim claim form on the website because they could care less which is in violation of Arizona Labor Laws.
Martin Wilson and Shane Roach then requested that they have access to $100,000 for retainer of attorney to defend themselves. The FTC requested that it be denied showing accounting records that their was $460,000 in reserve accounts in which $420,000 was earmarked for payroll and accounts payable. Notice that they said it was earmarked for payroll but did they have any intent of paying payroll? Absolutely NOT.
Finally it was heard in court and dismissed with the receivership being dissolved.in the dissolution of the receivership the CPA firm requested to be paid $100,000 for their work and was awarded it by the court in the settlement. What a JOKE as they were awarded $100,000 for a few days worth of work while former employees were evicted from their residences, scrapping by for food and unable to pay their bills. I personally have never been the same since the bullies of the FTC and the CPA firm shut down wealth systems as this was a gross misjustice and negligence on their part.
Latest word is that WSI and E-Commerce Network are filing for bankruptcy protection so that none of the employees will see a dime of their wages. What another gross misuse of power.
Another mistake the FTC made is that they only expected WSI and E-Commerce Network to have 10 employees or so not realizing that they had over 100 employees there.
If any attorney would be willing to represent the former employees of WSI and E-Commerce Network in a class action lawsuit against FTC, the CPA firm and/or WSI please feel free to contact me as I know I can round up all the former employees because we have discussed this in detail.
Thanks!
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