MR ROBERT PAISOLA
WHERE TO BEGIN......I AM SO GLAD I STUMBLED ACROSS THIS SITE. I AM NOT AN INVESTOR OF ANY OF THE COMPANIES MENTIONED HERE (THANK GOODNESS) BUT, I HAVE SEVERAL FRIENDS WHO ARE. OF EVERYTHING I'VE READ, THERE IS SELDOM ANYTHING WRITTEN ABOUT ENGENUITY, VALUE CAPITAL, RAYHAR, AND MIWI. AS I UNDERSTAND IT, ST. GEORGE ENGENUITY IS SET UP LIKE THIS.....VALUE CAPITAL (KURT VANDERSLICE, MARTY WILKINSON) AND RAYHAR (MIKE ISOM) RAISED MILLIONS OF DOLLARS FROM ACCREDITED AND NON ACCREDITED INVESTORS. AN INTERESTING FACT IS THAT ALL THREE OF MY FRIENDS WERE SIGNED UP AS ACCREDITED INVESTORS. AN ACCREDITED INVESTOR HAS A NET WORTH OF $1,000,000 OR A PERSON WITH AN ANNUAL INCOME FOR THE TWO MOST RECENT YEARS OF $200,000. WELL, NONE OF THEM MEET THAT CRITERIA. IN FACT, IF THEY PUT ALL THEIR RESOURCES TOGETHER THEY STILL WOULD NOT MEET THE CRITERIA. SO VALUE CAPITAL AND RAYHAR GIVE THEIR MONEY TO MIWI (MIKE ISOM....AGAIN). MIWI THEN LOANED THE MONEY TO GUESS WHO........? FOUNDERS CAPITAL (RICK KOERBER). THIS DOESN'T LOOK LIKE A PYRAMID SCHEME WHEN DRAWN OUT ON A PAPER DOES IT? FROM REPORTS, FOUNDERS CAPITAL STOPPED PAYING MIWI SOMETIME IN JULY OF 2007. THIS IS WHAT'S INTERESTING. FOUNDERS CAPITAL APPARENTLY OFFERED TO PAY MIWI BACK ITS INVESTMENT SOMETIME IN 2007 OR CONVERT ITS INVESTMENT INTO EQUITY IN FOUNDERS CAPITAL. GUESS WHAT...THEY CONVERTED IT TO EQUITY. SO LETS POINT OUT SOME THINGS HERE. ENGENUITY, WHICH IS (VALUE CAPITAL, RAYHAR, MIWI) IS A FINANCIAL ADVISOR. OK, WHAT FINANCIAL ADVISOR IN THEIR RIGHT MIND WOULD BUY INTO A COMPANY (FOUNDERS CAPITAL) THAT COULDN'T PAY INTEREST PAYMENTS ANYMORE. ESPECIALLY WHEN THEY WERE OFFERED TO BE PAID BACK THE FULL INVESTMENT? THAT'S ONE OF THE HUNDREDS OF QUESTIONS INVESTORS WOULD LIKE TO KNOW BUT, THERE IS NO COMMUNICATION FROM ENGENUITY TO THEIR INVESTORS ON TOUCHY SUBJECTS LIKE THIS. THE COMMUNICATION LETTERS THAT I HAVE READ BASICALLY SAY, WE CANT PAY AT THIS TIME, SORRY. WHY IS ENGENUITY SO QUIET WHEN ASKED WHEN FOUNDERS CAPITAL IS GOING TO PAY THEM BACK? PROBABLY BECAUSE THEY DON'T WANT YOU TO KNOW THAT THEY USED YOUR INVESTMENT DOLLARS TO BUY A BIG CHUNK OF FOUNDERS CAPITAL. THE THREE FRIENDS OF MINE WERE TOLD THEY WERE INVESTING IN HOMES, NOT BUYING FOUNDERS CAPITAL. THEY WERE TOLD THAT SOMEWHERE OUT THERE, THERE WAS A HOME BACKING UP THE INVESTMENT THEY MADE WITH AT LEAST 20% EQUITY IN IT. THE OWNERS OF THESE COMPANIES STILL HAVE THE FANCY CARS, TOYS, AND THEIR HOMES WHILE THE INVESTORS LOSE EVERYTHING. I WILL SAY IT LIKE I SAID TO MY THREE BUDDIES. IF YOU INVESTED WITH THESE COMPANIES YOUR MONEY IS GONE. YOU MAY SEE TOKEN PAYMENTS FROM ENGENUITY TRYING TO MAKE GOOD EITHER ON THEIR OWN OR FORCED BY THE LAW BUT, IT IS HIGHLY UNLIKELY YOU WILL SEE THE TOTALITY OF YOUR INVESTMENT AGAIN FROM THIS HOUSE OF CARDS.
W.T. CRAIG
ST GEORGE UTAH
Posts
6 comments:
I understand your concern for your friends, as I too have close friends that have invested with these gentlemen. I do know for certain though that these men you named have been working hard to find the best solution for each of their investors. I also know that the toys you referenced while others are loosing their homes is inaccurate as they have been working to sell off these cars and things to ease some of the pressure and to focus more on what they can do with their investors. It is funny how when the real estate market was doing great in St. George, all Companies and Engenuity aside, everyone and their mother thought they were real estate investors, trying to make a buck flipping houses and thinking they were Kiyosaki himself. These investors made a lot of money in interest for a long time and never did they complain, the tables turned and suddenly it is not their fault. How about this, all of the investors that invested and think they were cheated pay back all of the interest they received and see if these guys can pay back all of their principle and just walk away from each other. Or did perhaps your friends and mine take their interest and buy boats cars and houses and things themselves that they can no longer pay for as a result of living beyond their means? Maybe they felt it was ok to take interest in an investment and put themselves in a position that the interest income (never a guarantee) was something they needed to live on, if that is the case then each one of them has to suck it up and admit they chose to make the decision themselves. Or am I just being to real, interesting thought...
St. George is not the only problem. I live in Northern Utah County and was lied to by one of Rick K's 'business associates' up here- Cody Moore. The man signs a personal note to me and says my deposit will not go with Rick... turns out it has. Now he says he has reinvested with koerber as well.... liars and thieves if you ask me.
To the uy who thinks everyone got paid for a long time. I received 2 months of interest then nothing. 200K invested and about 18K returned. I used the money to buy medication for my daughter who has brain cancer. She requires special care and schooling. Don't paint evryone with the same brush. By the way, if people didn't do their homework, does that somehow give Koerber legitimacy?
Dude, sorry about your daughter man, it sound like things are real bad for you. I did have a question though, if someone doesn't do their homework and actually get to know who it is they are giving their money too and the people they invested with lie, no they are not excused for the lie and deception. But ultimately who's fault is it? Were you not the one that wrote the check? I see your motivation behind the decision, I may have done things the same way in the very same situation I don't know. But lets be honest with each other and peel back the onion and see where the fault is to be laid. It was your choice, lets move on and I will pray for you and your family that God can help.
I am halfway through a fantastic book called, "How I Found Freedom In An Unfree World". I am taking the advice of the author and only changing things in ife that I can truly change and that make me happy. I have learned it doesn't matter what another person thinks, unless it somehow affects me and my happiness. We all have our own reason for doing things and what other people people think should'nt factor into the process. You can waste a lot of time trying to conince everyone of everything. Just go and do it! Best wishes
FYI, not all involved with value capital retained their fancy cars, houses etc. Marty lost everything as well as his investors, including family members. He believed he was helping friends and family create wealth. He got sucked into the hype and greed just like the investors did. He's taking accountablity for his actions...investors need to take some accountablity as well...for their greed. (family members included.)
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