Loomis Wealth is one of those company's that IS too good to be true. Do not get taken by the words of the great Lee Loomis.
The ex employee from Illinois is telling the truth. Everything he said is true as I worked there too. First they suck you in and take your money... Anyway they can.in my case they took my 401k. Others have refinanced their homes into neg. Am loans and taken out their equity and given that to the company. Others have given real property to the company that they then sold. They will find a way to get your money and take it.
Some of us who really wanted to be a part of this big wonderful company asked if we could become a part of the 'team'. They love that! Now they got your money and they got you too, trying to keep the company floating. You are so excited to get into this great company... At first... Until you see what is really going on. I am sorry to report that once inside I was soon aware that things were not as candy coated at they seemed.
The sh_t runs deep in this company. They take your money and use it to run the company. Period. They don't care about you as a member or an employee. The company is a sinking ship and many great and loyal employees have been left in financial ruins. It is so sad. Some have filed bankruptcy, some have lost their homes, some have lost all their money. (Some employees are big crooks too and have ripped off the 'rip of' company!) Its a mess!
I figured out a month after giving them my 401k that I wanted it back. John Hagener said to send my request in writing and I would get it back. That was at the beginnning of February. At first he said I would get it back by the end of March. Then on a phone call in April (he actually answered the phone) he said I would get it back next week. And in his words he 'promised'.
I have called many times after that to leave a voice mail with no call ever returned until last week, June 16th or so, when I left a threatened phone call. I did get a call back then and another promise to get the money returned to the Equity Trust Company so I could redirect it from there. I would get the money by the end of the week. Nope.
On June 23 I put in another threatening phone call, posted on scam.com, called my attorney, called the FBI and filed a report. John Hagener called back and said yes they would transfer my money from the NARAS fund back on Thursday. Nope! Yesterday, Friday I left another not so nice message and John Hagener called back saying today is the day they do the money transfers and it will be done today by the end of the day. Nope! (I don't actually think John is a bad guy but just caught up in this nasty company too... I think he really does want to give me my money back but there just isnt any money!)
So, where is the money that all these nice trusting people have put in the NARAS fund? Where is it? My 401k is a small amount to what some of these poor people have given this company. It is probably what Lee pays himself in one month! But to me it is all that I have! I just want my money back!
I never invested in the houses as I saw that they were selling them to the members for more than they were worth and the rents did not cover the mortgages, let alone the taxes or insurance. I saw that each home had two appraisals. Once when the company bought it and once when they sold it to the member. This was purely by accident that I saw this (more than once) Once the internal internet was secured this never happened again! The funny part about it is I would go and voice my concerns to Lee! (LOL) (like he really cared) about how things didnt make financial sense with the houses. I was trying to help him until I finally gave up on that.
Bottom line -save yourself alot of heartache, sleepless nights and financial loss and stay away from this company.
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