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Want To Be Your Own Boss? Beware of Fraud, Says Expert | Add Comment

    • Franchise Scam Nightmare 11/28/2009
    In hindsight many of those red flags raised in the article were there and, I was cleverly scammed out of a franchise investment of $250K by a group of educated professionals under the farce of an Investment Banking Firm. The franchise services were supposedly centered around Investment Banking, M&A, Funding and Leveraged Buy-Out however, I soon discovered that no such services were being provided and was nothing but the bait in their cleverly designed efforts to acquire the ownership and assets of small to mid-sized businesses and, cash from unsuspecting individuals seeking control of "their economic lives." Their goal was the expandsion of their paper company through deceptive practices while laundering those acquired assets to one or more of their other owned companies, via asset sales and doctored financial statements. The game then continued under the umbrella of those many different companies and, to avoid repayment of defrauded assets to their victims the Professionals Crooks claim that the company had "no monies", a tactic successfully used for many years. To date, the scam continues throughout the USA with the individuals relocating their headquarters in Maine, with operations in Florida, California, Illinois, Alabama, Georgia and targeting expansion in Canada. Meanwhile, the authorities have done nothing to help those victims of the franchise scam. Thoses franchises were sold throughout the USA without the necessary franchise license or franchise disclosure agreement. The sale was never disclosed or presented as a franchise sale.

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