We purchased a $50,000 position in a hedge fund called Aegis Shield from a nationally networked group of people. The cost to participate is anywhere from $50,000 - $1,000, 000. We purchased a $50,000 position after they suggested that we roll over a couple of IRA's into another IRA they would set up so we could access the $50,000 to give them. They required us to divulge all of our financials and this is how they knew we had a couple of IRA's for them to get paid.
You can watch an edited 5 min video clip (of the 60 min live presentation recorded without their knowledge) of this hedge fund/tax avoidance scheme at the link below:
Http://www.youtube.com/watch? V=gF30UqQnjw0&feature-player_embedded
In the video a key person (Glen E. Horecky, RFC, CSA) verbally calls by name several of the other key persons involved in this tax avoidance scheme. This group of people includes but is not limited to the following:
1. Stephanie Olsen: Celebrity financial planner with a television series currently airing on PBS with a recently published book
2. Tax attornys: Thomas J. Agresti, J.D., ll. M and Tim McCarthy, J.D., cpa, clu, coo
3. PhD in Economics: Dr. Jamie Cuevas Dermody, PhD
4. CFP: Ted Rusinoff, M. Tax, CFP (also president of Aegis Risk Management / his company is where the checks go to for Aegis Shield), Glen E. Horecky, RFC, CSA
5. CPA: Brian Seifert
6. Other uncertified financial planners: Rita Mae-Cannizzaro-Walsh, Ernest R. Madera
7. Web developer and also handles processing of money for Aegis Shield sales: KC (aka: Kingsley Charles)
This group of people is bilking millions of dollars from unsophisticated AND sophisticated investors nationally selling this tax avoidance scheme. They have offices located in Arizona, Boston, Cleveland, Denver, Indianapolis, Reno, Salt Lake City, San Diego, Scottsdale, Tampa and Vancouver. They are a family of 8 (possibly more) related companies. As individuals they also own so many other entities it is difficult to know exactly how many companies are involved.
The fraud is simple. They provide "3 day educational" seminars which are really just high pressure sales events. The products they sell are called "wealth building products" which are standard nuts and bolts business products: Entity formation, trusts and insurance. They build your belief in them since the atual products the recommend are themselves legitimate products. After they have earned your trust 14-60 days they then convice you to purchase the tax avoidance product Aegis Shield which they call "wealth insurance" from Aegis Risk Management Group, LLC (Ted Rusinoff, M. Tax, CFP is the CEO). I have had 3 CPA's, all in-house partners of Aegis Council... Referred to me by Aegis council, who all refused to use Aegis Shield with the filing of my taxes. One of the CPA's that refused worked for the IRS 33 years as a manager in the Large and Mid-sized business Division who won the David Bernard Award in 2006 specifically told us "Aegis Shield is a fraud. It is not legal and all these companies are scammers. Try to get your money back."
We have been trying to get our money back, we have asked them to sell our Aegis Shield for 3 months, and they have agreed to do so but they have given us the run around with the buyers. The last correspondence we received about us getting our money back was on 10/6/10 and it state the following:
"The team wants me to let you know that the buyer is still moving forward. However with this buyer (partnership) one of them is having a baby in one is getting married. So, there is a little delay. Ted and/or KC will follow-up Friday or Saturday in the morning. All is moving smoothly."
Since that email no one has followed up and neither Rita Mae Cannizzaro-Walsh, Ted Rusinoff or KC (aka: Kingsly Charles) has returned any of our phone calls. We hope that our detailed complaint will help stop these predators from financially destroying other Middle and High income American families nationally. We are devastated and hope that action is taken soon in order to save other families from ruin.
0 comments