First of all, me and 3 of my co-workers were SCAMMED twice. Here is how it started. We needed insurance for business and for our customers and met a wolf in a sheep's clothing... Named Alton Minton.
He came to our job to give us a quote and invited us to lunch to discuss it. He gave us a quote and told us how his company "Lakeside Insurance and Financial, Inc." was about to get its own ticker symbol and "go public" on the stock market.
He said investors had been buying shares of the company for 2 years and that once it went public, they would be rich. Alton told us that in 120 days, his company would be trading on the stock market for $3.00 per share. He said we would TRIPLE our money in 120 days! He was much more interested in us buying shares of stock than selling us insurance. That should've been the first red flag.
Weeks later, after many meetings, professional charts/brochures and fancy lunches with Alton Minton, me and 3 of my co-workers decided to invest $15,000 each. He said we were now on his "advisory board" and the stock would open at $3.00 per share. They opened alright - at 1/3 of 1 cent per share! Our $15,000 each just turned into a measly $45! The ticker symbol is FEDP. Not a new symbol but one from some other company called Federated Purchasers, Inc from 10 years ago.
Right after the company went public, he closed down all 6 offices of Lakeside Insurance and Financial Inc, left no forwarding address, and changed his cell phone number. And a year later - the stock is sill at. 003 or 1/3 of 1 cent.
And what makes it worse is that we also gave him $16250 to invest in Nascar simulators he bought from the ones that used to be in Opry Mills Mall in Nasville, TN. Alton told us they would be set up within 21 days from March 14th. (This was before the stock scam was complete or we obviously wouldn't have done this).
Alton said the simulators would be set up in 21 days (5 in Murfreesboro, TN and 5 in Hendersonville, TN. We would invest in cars and would be paid half of the profits from the cars and half from the profits of the concession stands. The price would be $7 per ride. He had detailed business plans and calculations and said we would make about $3000 per month as our part of the profit.
A year later, we still have not even seen these simulators. Alton keeps changing his phone number and we cant track him down. Also look up and article called "shares of sorrow" on the internet at www.nashvillepost.com. Alton minton was reported to sell shares of jet airplanes he didnt even own to famous celebrities.
I don't know how many people he has scammed in his life... But if you ever hear his name - run. I hope this report will stop someone from getting scammed in the future. He is a wolf in a sheep's clothing for sure.
The main company address was at 3588 North Mt. Juliet Rd.
Mt. Juliet Tennessee, 37122
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