Is this a Ponzi scam. Are they ripping off old people or anyone else? REIC promised to pay my mother-in-law 8% simple interest quarterly on a $45,000 initial investment. After 2 payments they have had to be contacted every time sometimes taking months to get the money. The man knows how old she is and her situation - dispiccable. She is on dialysis, 86, widowed, social security, what else would he like.
When her husband died, the money was badly needed. She requested her money and to close the account. REIC said they would return investment Oct on their terms. They didn't.instead, they sent past due and current interest and said they would sent the money in Dec. 2005. They didn't. Our mail was returned, certified mail went unclaimed.
When their phone is called it is answered Bransen (sp?) & Nottingham. The answerer refused to give any information other than they would take my name and number and have someone call back. They wouldn't even spell Bransen -'I'm not going to sit here and answer questions.' He said they just took the number over from a previous business.
Has anyone else had problems with this business - either getting their money back or getting their interest payments, or trouble trying to contact them?
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