• Report: #219680

Complaint Review: Genesis Financial

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  • Submitted: Wed, November 08, 2006
  • Updated: Mon, January 14, 2013

  • Reported By:Fullerton California
Genesis Financial
28632 Roadside Dr.,Suite 205 Agoura Hills, California U.S.A.

Genesis Financial, purchased $7500 in GOLD coins Never received coins or promised return of funds,phone calls not returned now for several weeks Agoura Hills California

*Consumer Comment: Kimberly Elizabeth Bodnar , Bodner

*Consumer Comment: Kimberly Elizabeth Bodnar aka Bodner

*Consumer Comment: Longtime gold brokerages are focus of questionable activities.

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On or about Sept.4,2006 I hand delivered a cashier's check for almost $7500 to Genesis Financial Inc.'s bank for the purchase of several gold coins for investment and collecting purposes. There was some discrepency at the bank about the name on the account. I had the check reissued. I told my portfollio manager at Genesis, Steve Allas about this and he claimed it was a temporary problem at the bank branches. The next day I found out that they put a 10 day hold on all checks, even cashier checks.

While waiting for the check to clear I received a form to sign which they called a "Account and Shipping Agreement." This form, among other things required that I certify that I was not investing more then 25% to 30% of my assets and that if problems arose I agreed to accept binding arbritration and give up my rights to sue them. I refused to sign this form and stated that the purchase represented about 80% of my assets. I also felt the value of the coins was not worth the amount of the investment.

A couple days later Mr. Allas called and said they were adding additional coins to the package at no extra charge but before they could ship I would have to sign the Account and Shipping Agreement. I agreed and was to fax that to them when they were ready to ship.

Two weeks later I received a letter stating my account was being denied do to it representing to large a percentage of my assets. Mr. Allas stated that he was leaving the company and that the president of the company, Kimberly Bodner, would handle a full refund of my money. I tried calling to find out when I could expect the refund. I Left a message with an answering service. Then the phones started acting funny and even being out of service some days. Over the next several weeks I have left several messages and not one has been returned and I have not received my gold or money. Have I been ripped off?

Dave
Fullerton, California
U.S.A.

This report was posted on Ripoff Report on 11/08/2006 04:30 PM and is a permanent record located here: http://www.ripoffreport.com/r/Genesis-Financial/Agoura-Hills-California-91301/Genesis-Financial-purchased-7500-in-GOLD-coins-Never-received-coins-or-promised-return-o-219680. 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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0Author 3Consumer 0Employee/Owner
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#1 Consumer Comment

Kimberly Elizabeth Bodnar , Bodner

AUTHOR: Taz - (USA)

I know these statements to be true and Kimberly / Elizabeth now works at Freedom Gold Group in Calabasas Ca    http://freedomgoldgroup.com/ She is living in Calabasas. 800 496-5945

The IRS is very interested in her too!!! as she owes them in six figures.

Happy Hunting


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#2 Consumer Comment

Kimberly Elizabeth Bodnar aka Bodner

AUTHOR: Taz - (USA)

I know these statements to be true and Kimberly / Elizabeth now works at Freedom Gold Group in Calabasas Ca    http://freedomgoldgroup.com/ She is living in Calabasas. 800 496-5945

The IRS is very interested in her too!!! as she owes them in six figures.

Happy Hunting


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#3 Consumer Comment

Longtime gold brokerages are focus of questionable activities.

AUTHOR: Susan - (U.S.A.)

Kimberly Bodnar of Genesis Financial is wanted by investors who want the investment money that was given to Bodnar who in turn did not deliver the gold nor refund the cash. Thus far investors are claiming Bodnar stole at least $250,000 in cash and did not send the gold. Bodnar has not returned calls from the Los Angeles District Attorney's Office.

It is known that Genesis Financial is out of business and many believe that Bodnar may be still working in the Southern California area for another gold company. Bodnar was once employed by Lear Financial Inc., of Santa Monica California and may be working there again currently but using a different name.
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