- Report: #137305
Report - Rebuttal - Arbitrate
Complaint Review: International Profit Associates - IPA - IBA
International Profit Associates - IPA - IBA1250 Barclay Blvd Buffalo Grove, Illinois U.S.A.
International Profit Associates - IPA - IBA Ripoff Scam Buffalo Grove - Chicago Illinois
*UPDATE: Rip-off Report Investigation - International Profit Associates recognized by Rip-off Report as a safe business service - IPA pledges to resolve all complaints, 100% commitment to customer service and satisfaction, feel confident and secure when doing business with IPA
*Consumer Comment: IPA High Pressure Their boiler room tatics put up a red flag.
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The company is run by John Burgess, a disbarred, convicted felon.
The scam: IPA (also known as IBA) sends a "business analyst" to small, struggling businesses. They hard-sell a financial consulting & loan acquisition service, with guaranteed results.
A consulting contract is executed (enforceable under Illinois law) with a 24 hour cancellation provision (ostensibly so that you can cancel at any time).
Once the agreement is executed, it is impossible to contact them to cancel before 3 or, 4 "consultants" arrive at the door (aggregate $800 per hour). At that point, if they are turned away, IPA claims $5,000-$8,000 in expenses (the first days consulting & "travel" expenses).
If allowed in, they churn fees at the rate of $800 per hour, during which time they are analyzing how much the company is worth to them cash flow wise; in other words how much they can draw out of credit cards and, accounts receivable.
Once you recognize that you have been scammed, they provide an invoice for their services.
Immediate cancellation = $8,000 fee
One day cancellation = $10,000-$15,000
Second day cancellation = $15,000-$20,000 fee, etc., etc.
They intimidate & refuse to leave the premises until they are paid, intimidating many business owners (especially women) to charge the cost on a credit card or, write a check. Once they leave & the check is stopped or the credit card charge is attempted to be reversed, the business is sued, -in Illinois.
DO NOT PAY THESE JERKS!
This forces the small business owner to cave-in or, otherwise hire Illinois counsel.
Many businesses have been bilked out of $50,000 or, more. Many owners have lost everything. This is has caused many bankruptcies & the demise of many businesses (and, marriages)
IPA pays politicians to speak at company functions - they employ photos of same to build credibility during their presentations.
I have been "investigating" this company since I was conned out of a claimed $17,000. During this time, I have amassed many "insider" documents including the psychographic profiles that they train their scam analysts to develop when sizing-up a target.
This company needs to be stopped.
LOS ANGELES, California
CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.
This report was posted on Ripoff Report on 04/02/2005 11:35 AM and is a permanent record located here: http://www.ripoffreport.com/r/International-Profit-Associates-IPA-IBA/Buffalo-Grove-Illinois-60089/International-Profit-Associates-IPA-IBA-Ripoff-Scam-Buffalo-Grove-Chicago-IllinoisU-137305. 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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