• Report: #609860

Complaint Review: Craig Gutowsky

  • Submitted: Thu, June 03, 2010
  • Updated: Mon, January 21, 2013

  • Reported By: Wiliam — Chicago Illinois United States of America
Craig Gutowsky
19 S. Montclair Court Cary, Illinois United States of America

Craig Gutowsky Nicks Games , CMG Trading , Need For Speed, Craig Gutowsky Ponzi Scheme ,Chicago Illinois , 847-489-2702,Craig Gutowsky, Craig Gutowsky Stock Broker, Craig M. Gutowsky , Craig 847 489 2702 , CMG Trading Cary, Illinois

*Consumer Comment: car sales

*General Comment: The True Story.

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At his home in Cary Illinois , Craig Gutowsky would sit and ponder how he could get out from his job, a Union truck driver for USF Holland America in Wheeling Illinois. Even thou he had 10 year, he hated being behind the wheel of an 18 wheeler, day in a day out. He was afraid that management was going to catch on to his fake workman's comp case for an injured finger. After all it was his 3rd workman's comp case in 4 years, and he was running out of body parts, back, ankle and now finger.

Monday morning at 5am he would be back behind the wheel . He had to do something and quick. With the help of his accountant at Delta financial Services, Craig started Nicks Games. The plan was to invest in PLAY and TRADE franchises. Craig advertised for investors by guarantying principle and paying a dividend of %20 .

He was so confident he had quit the union that he was a member of for over 15 years, rather than take a leave of absent

Chumming the waters for  investors, Gutowsky had a retirement party at a local beer hall in Cary - Colman's, showing off his new success as a stock broker, thumbing his nose at all the other truck drivers he invited from USF HOLLAND AMERICA in Wheeling Illinois.

Gutowsky also entertained regularTexes hold em' events at their home in Cary til he bought a warehouse in Cary and held them there.

Gutowskys lifestyle seem to change overnight. He used investors money to buy turbo charged Mercedes Benz with custom plates that said ' FAST E 55'. a vintage museum quality muscle car 1966 Chevrolet Nova II Mundelein, Illinois | Elite Motors PLEASE CONTACT CRAIG AT 847-949-9933 OR 847-489-2702  , and was equipping  high performance motorcycle racing team, complete with luxury trailer, equipped with plasma television and leather benches. He even purchase a new Ford pickup truck to pull the all aluminum $40,000 trailer.

Gutowskys' life indeed has changed. He was spending more in a month then he made in a year driving a truck.

Gutowsky took his wife Renee on several Las Vegas vacations and could be seen of the golf course in Cary several times a week.

Gutowsky was taking in hundreds of thousands and  new he was in trouble. But he could never go back to  USF Holland

Gutowsky needed to help investors raise cash by arranging for title loans on their cars and cash advances on their credit cards, taking anything of value from investors to collateralize  the investment he was selling, using CRAIGS LIST to liquidate the motorcycles, golf clubs and Artwork he had received.

Gutowsky allegedly was not investing their money. Authorities said he was running a Ponzi scheme that duped investors out of hundreds of thousands of dollars.

On January 28 , 2010 a DuPage County judge ordered Craig Gutowsky, 42, of the 19 the block of Montclair Court , Cary Illinois held in lieu of $150,000 dollars bail. A grand jury indictment has charged Gutowsky with theft, securities fraud, fraud and selling securities without registering.


0002 THEFT BY DECEPTION WITH INTENT TO DEPRIVE - $100,000 <= $500,000 ACTIVE 10225

Between Jan. 1, 2007, and Oct. 9, 2008, Craig Gutowsky duped investors out of more then $300,000 by creating the false impression that he was a broker at CMG Trading , 847-489-2702 , and had investments with a that were paying a 20 % rate of return with guarantee of principle. He called this the "Kevin G Carney " fund.  Gutowsky in charge of selling the investments with the help of his wife Renee Gutowsky who kept the books, guaranteed the principle and took 10% commission as his broker fee. But instead of selling securities, Gutowsky used his investors' money to pay returns to other investors.

A restaurateur in the western suburbs took a mortgage on his paid off home and gave Gutowsky a $100,000. dollars. He was introduced to Gutowsky by his son. "Had I known about Bernie Madoff, I would never have talked to Craig in the first place," He said, referring to the infamous Wall Street manager who is serving a 150-year sentence for running a decades-long Ponzi scheme that has cost investors billions.

Another victim, a Palatine Mortgage Banker at first had no comment but then had this to say " Like the movie 'Wall Street" Craig and Renne Gutowsky s' greed was so great, they did not think once about the lies and manipulations and the people and families they hurt. They only thought about the cars, vacations and impressing their family and friends. "

 According to one investor, Gutowsky wanted to legitimize his company and was planning to buy several Play and Trade Franchises under the now dissolved Illinois corporation NICKS GAMES .

Craig Gutowsky Cary, Illinois only spent a couple of hours in a Dupage county lock up thanks to his father in law - Phillip J Abbinanti of Buffalo Grove, Illinois , owner of Chapple Design-Builders, West Chicago, IL . Gutowsky a relative through marriage of his daughter Renee . Other family members also invested with Gutowsky.

Gutowsky will have to appear in Dupage County court on the next date of 06-30-2010 COURTROOM 4010 Court Time 09:00 AM


Craig Gutowsky s bail was set at $150,000. He is out and selling cars at Elite Motors 847.949.9933  822 N. Lake St. Mundelein IL, 60060

also see Journal Newspaper  ponzi scheme Craig Gutowsky, Chicago, Illinois


This report was posted on Ripoff Report on 06/03/2010 09:22 AM and is a permanent record located here: http://www.ripoffreport.com/r/Craig-Gutowsky/Cary-Illinois-60013/Craig-Gutowsky-Nicks-Games-CMG-Trading-Need-For-Speed-Craig-Gutowsky-Ponzi-Scheme-Ch-609860. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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#1 Consumer Comment

car sales

AUTHOR: Bill - (United States of America)

Can't comment on pozi thing..but I can say this guy sold me a car that is a piece of crap.Sold me a S55 mercedes off the net working for Car dealer.Car was mis represented,has scratches,motor problems and stinks of diesel fuel in the trunk.I had to spend $10,000 to make the car right.I would never recommend him to buy a car from.Got no help from the dealer so in my instance they both are terrible. Hope to meet him one day face to face so I can tell him what I think of him. Seems like the kind of guy that has no problem ripping people off so I could believe the ponzi thing..
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#2 General Comment

The True Story.

AUTHOR: Steve - (United States of America)

This whole statement about Craig Gutowsky is completely false. I know Craig very good and about his situation. He did not do the investing for anyone, Fact. After working for a company for 12 years in that type of trade you are going to have some injuries, he had 2 and they were legit. His start time at work was never 5am, False. He never had a retirement party, False. Retirement means working no more but he quit his job to start his own business Play& Trade dosent sound like retiring to me? He was involved in a ponzi scam and lost alot of money also, he was a victim himself. He tried helping 2 of his friends that ended up losing in the scam and they are blaming him for there losses. Sounds like a couple of losers to me can't man up and take there losses as well have to blame anyone but themselves. Family members involved, False. Spend more in a month than he made in a year, False. He is being charged, True. But when the truth comes out in court which he is doing, not trying to cop a plea a sign of a true man that is not guilty. I recently went to a party at the gutowsky,s home in cary and there were atleast 85-100 people there. If he stole from so many he would be laying low and no one would come to one of there parties. He still goes golfing all of the time also, so what! The Loser that posted this is just trying to hurt craig's reputation but everybody that know's Craig know's the truth and that is all that matters.  
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