I (like many other poor victims) was tricked into purchasing these terminals which was supposed to activate cards for prepaid services (so-called point of sales) such as prepaid internet, home dialtone, cell phone usage and Mastercard.
I purchased 5 locations which is called one unit. I was told that this was a turn-key bonanza. I was told by salesman Elliot Thaler that within 2 months the money "would start rolling in". This was back in March. Mr Thaler was very pushy and persistent. I heard from him often at least until he and colleagues had my $11,980. I was told that I would have my 5 sites up and running within 60 days.
What a lie! I, like others, were told that we could do our own locating of the terminals at places like gas stations and convenience stores but it was suggested to us strongly that it would be easier to use a locator that worked for Global Ventures. This sounded good to stupid me.
If I had to do the locating myself I would not have made the investment because I had (and have thank goodness) a full time job and wanted something that was as "turnkey" as they said it was. He even waived all locating fees and "association fees". We were told that our percentage take on each terminal transaction would be slightly lower if we allowed them to do the locating (instead of doing our own locating). That was fine with me. Unfortunately months went by and without me getting a location.
I hear the same happened with others. After 6 months, I was informed that I finally had my first location. Imagine that one out of 5 (20%) after 6 months. That location either was not real or was a real dud because it made virtually no sales in 3 months. I demanded that they give me another location as well as my other 4 promised locations.
Finally in December of they replaced that pathetic location.By then I had already filed a complaint with the better business bureau. This was a useless exercise because Global responded that "I had a choice of doing my own locating". They did not mention the fact that in 9 months I only had one real location of the 5 that I was promised.
Because I was such a squeaky wheel, I and others received "penalty checks" to make up for the delay the delivery of locations for the terminals that we had purchased. It turns out that some of us received these checks and some did not. I received $750 total but not a penny in penalty since November.
As I mentioned earlier, I finally had 1 terminal placed into what seemed to be one legitimate location (again 1 of 5 terminals). We (distributors as we are called) can check (via the internet) on the money made at these terminals (and our pathetic share ie 2.5% of cellular receipts).
To make a long story short I spent the bulk of 2004 trying to get them to pay me what was owed for this one paltry site. They always paid late and always paid less than the amount owed to me. Yes, we are talking about a company willing to cheat on even small sums like less than $200. This culminated in them sending me a $31.23 check, when they owed me $75. (In my opinion, they really owe me the balance of nearly $12,000 that I invested in this scam) Also during May of they informed me of a second location out of 5. However, when I checked on the internet there was no evidence that this site even existed (no profits and no inventory). I even did a web search to find the number of this convenience store (a piggly-wiggly). I always got a busy signal or no answer.
For months (June to October) emailed and and called Global, asking about this "location". My emails went unanswered and the few times that I caught them on the phone (they used to answer the phone back then. Now you will only get voice mail and unreturned messages) they claimed that they were investigating the situation. The store was in Alabama not in the lost city of Atlantis.
How hard would it have been to find out if my "terminal" was up and running and if there was inventory of phone and internet service cards at that location? When I told the Global folks that I was planning to call the store, they got really nervous as well. I told them I wanted out of that phony location and that I wanted my other sites.in December or January (almost 2 years into my nightmare with Global Ventures with almost nothing to show for it but frustration) they sent me a list of prospective new locations and asked me to choose 6 and fax my choices in.
I was skeptical, given their track record. But I decided to give them enough rope to let them hang themselves. I guess I also hoped that they might be for real (talk about being in denial). Well to make a long story short, 2 of the locations were right in Baltimore where I live so I chose them because I knew I could check out their authenticity.
Well needless to say, it turns out that both stores were owned by the same Korean gentleman (he just closed down one last week). And guess what? He has never even heard of Global Ventures and does not know how his stores got onto their list (of alleged valid locations). My theory is that even though I and others were told back in 2003 that our locating fees would be waved, they have started trying to collect $75 per location (even for locations where the store operator has not heard of them). I can only think that this is their last desperate attempt to steal our money before they are forced underground (like the vermin that they are) only to change names and start on a new scam.
This bunch of fraudulent scam artists need to pay me and the numerous other poor victims of their theft. Some individuals have lost over $20,000 to Global Ventures. Enough is enough!
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