After a seminar me and my partner signed up and gave our credit card information for the program which costs $2000. Program includes:
Access to his website for 1 year
A monthly coaching call
Access to investments for 1 year
During our first coaching call he suggested that we invest other peoples money with him since we were both flat broke. So we gathered up other peoples money and offered them a decent return and we would take a management fee. He never informed us that we would be losing money no matter what since a 10% return on $20,000.00 is only $2,000.00 minus what we promised our investors. Douglas Vermeeren suggested us to promise them a 7% return and we keep the rest. This would mean we would be making $600.00 but then having to pay a $2,000.00 membership fee. This doesn't sound like math that will make anyone rich. We were under the impression that we would be able to invest with him for as long as we liked without having to pay more annual membership fees. This was not the case.
We then sent Douglas Vermeeren a cheque for $20,000.00 for a 9 month investment that would be re-payed monthly for a total interest of %10. He then sent us a promissory note containing these details as well as a section stating that if our membership fees weren't payed they would be deducted from our investment. I told him this was fine instead of giving him a different credit card. He then charged us $35 for each month we were late to pay. This is where I started feel like I was being scammed. It even said in the contract we both signed that membership fees would be deducted from our investment.instead he charged us 6 months of the $35 late fee.
After trying to contact him for months he finally sent what was left of the monthly cheque which was less than $200. Each cheque is supposed to contain $2444.44 for 9 months which equals $22,000.00. This would be our $20,000.00 investment plus %10. ($2,000.00)
He told us the cheques would stop coming if our membership wasn't payed. Although in the contract it stated the fees may be removed from the monthly return on our investment.
To this day the cheques are 2 months behind. When we brought up this issue with Douglas Vermeeren he stopped returning our phone calls, emails, texts, voicemails. When he finally answered a call he stated he would contact his lawyer if we kept "harassing" him. We just want our money back and to be done with him.
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