Bally's Total Fitness
Bally Fitness Ripping Off Customers to Cover Losses

A few years ago, Bally's Total Fitness was involved in a lawsuit where their CEO mislead investors. Bally's has been overstating accounts receivable thru fraudlent activities.in their financial statements, Bally's showed an unusally high amount of receivables from their customers. THe CEO was in the process of obtaining money thru stocks. The SEC investigated Bally's and found out that the CEO had done fraud involving stock offerings. The Company was suffering losses and needed capital. Easy way to raise capital was thru the sale of stock. The CEO misled investors by showing more receivables. It was easier for Bally's to pump up the receivables by fraudlently putting customers on collections, forging signatures on 3 year contracts, and committing identity theft.

If Bally's has your personal information (name, drivers lic, date of birth, work info, social security#, bank account info, credit card info), they will put you on collection to show more receivables (current assets). This would make Bally's look better on their financials. Bally's has been committing fraud for a very long time. It all starts with their sales people and management lying to potential customers. They would forge signatures for customers who did not sign three year contracts after obtaining all necessary personal information. Bally's was also overcharging customers (charging for a 37th month on a 3 year contract, overcharging bank accounts/credit cards, exc.). Bally's purchased non-franshised gyms and turned them into Bally's. The customers that were members of these non-franchised gyms usually got screwed by Bally's. Bally's overcharged these customers by charging their bank accounts and credit cards without authorization. Some members of these non-franchised gyms cancelled their memberships soon as they found out that Bally's was going to take over. Bally's did not want to cancel the memberships and instead put these customers on collections.

Bally's Total Fitness is one of the most fraudlent companies in the US.
Bally's fraudleuntly overstated accounts receivable to cover operating losses. Bally's bubble is going to burst and this company is going under water soon.

I have been victimized by Bally's by filling out a sweepstakes form where I won a free 2 week membership. I refused to sign a 3 year contract. Only thing wrong I did was to give the sales personal my personal information.
The salesperson, Abel Perez, after he quit Bally's, told me that my signature was forged on a 3 year contract. He warned me that Bally's was going to place me on collections. Able told me that they did this to lot of customers that filled out the sweepstakes form. And nobody wins in this sweepstakes as it is only a scam. I like to start a class action lawusit.

Company: Bally's Total Fitness
Country: USA
State: California
City: Norwalk
Address: 12440 Imperial Hwy #300

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