Complaint / Review
Bacci Nominee Trust
$80,000 inheritance ripoff unresponsive minority abuse

My aunt, Ms. Jackson, died in 1998, leaving what was at the time an $80,000 investment in Bacci Nominee Trust as an inheritance.

Despite numerous attempts to contact Bacci Nominee Trust, and the Trustee, Michael Newell, they refused to accept Certified Mail, did not respond to phone calls nor did they acknowledge transfer of the investment to the heir, G. Schmidt, Ms. Jackson's brother.

At one point, a Power of Attorney was created, and the gentleman, an employee of the Government of Puerto Rico, was received by "a visibly nervous Michael Newell, " but despite assurances that communication would be forthcoming, nothing happened.

Six years have passed and neither the money nor an update of the investment has been made. A legal suit against the Trust, apparently created by the law firm of Bacxci and Bacci, was discarded under legal advice of "if the money is still there, most of it would be spent on the legal fees alone." Mr. Schmidt, a 21-year Air Force veteran, lives in Puerto Rico and cannot travel to San Francisco. It appears that his sister's $80,000 investment has been taken by unscrupulous people, hiding behind a spurious "right" to privacy and distance.

Gil C.
Boquern
Puerto Rico