My name is Eulet from Stone Mountain Georgia me and my wife Olive invested $150,000 in SELECT Industries based in Sarasota Florida a company of which Derick Coles was CEO. He said they bought small companies and grew them and eventually Select Industries would be so big that it would be floated on Stock Market or would be bought out by a Big company;this was January.
In March we received share Certificate no. 23 for 150,000 shares. We did not receive any dividens or interest for some years and kept calling Derick, he told us that the business was growing and he was acquiring new companies.in April he sent share certificate no. 73 for 7500 shares and that was our interest or dividens.
The company changed its name New Horizons Florida LLC; and was publishing a magazine in the United Kingdom. We asked Derick several times about cashing in our investment and each time he say to us the economy is bad and it will get better.
In late December we received a letter from Derick saying he wanted to transfer the business to the British Virgin Islands for Asset Protection we were reluctant to do this; we again asked if we could cash in our investment;Derick said NO.
In January;we received certificate no. 3 from COOPERATIVE HOLDINGS LIMITED incorpotated under British Virgin Islands International Business Companies Act1984 for157,500 CLASS 'B' NON - VOTING Shares each valued at U.S.$1.00. The capital worth of company was U.S.$10,000, 000.2,500, 000 Shares were class 'A' AND 7,500, 000 were class "B".
We kept on calling Derick wanting to cash in our shares but business was bad and the time was not right and he had problems with some big property development project in Miami. We would call he would not be available we went to new small scaled down Office -Derick was in England.
Finally frustrated I sent him a severe and terse letter that I wanted my money back; he met at a Hotel near Atlanta Airport in MAY he was with his son Jason D. Coles we discussed the company and that the problems in Miami would soon be resolved that was the last that I heard from Derick Coles. He was to call within the month about the details. When I did not hear from him I called the office the line was disconnected and Emails were returned. I later went to the office it was empty. The little nest egg we bought ffom the U.K. Was gone.
In JULY I started seeing on the internet about Derick Coles Scam and traced Jason D. COLES to business in Atlanta in which he was Consulting and selling businesses and doing business plans I traced it to P.O. Box at a ups store. I emailed about his fathers whereabouts or about my money he did not respond; Jason was a director of Select Industries and CEO of Select Globally a small subsiduary of Select.
Now that Derick Coles has appeared in Court and due to be charged I am wondering How I go about getting my money back, since I have all my shares Certificates issued by Derick Coles and his companies
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