Avoid any dealings with Bill Jones Jr or Gilbert Nieto. I have been scammed by them. Gilbert Nieto advertised in the LA Times looking for investors to finance their car title lending business. They needed capital to lend to consumers who would be providing their car title as collateral. I was told that I would be paid a handsome monthly return and that my investment would be secured by car titles. I ended up investing $40,000 in their company on Aug with the understanding that this would be used to finance their car title lending operation.
For the first 4 months, I was paid my monthly return then by Jan to the present, everything stopped. I was informed that Bill Jones misappropriated the funds and my investment was not fully used to fund their car title lending operations.
Bill Jones has disappeared and could not be reached. The business has shut down and there are many consumers victimized by these unscrupulous operators. I am told that there are other investors scammed by these people.
An expensive lesson for me and hopefully a helpful warning for potential customers in the future. Beware of Bill Jones Jr and Gilbert Nieto. They cannot be trusted.
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