- Report: #74782
Report - Rebuttal - Arbitrate
Complaint Review: James Foster
James Foster49 Castle Mountain Road Livingston, Montana U.S.A.
James Foster, my Father, has abused fiduciary relationship by trying to scam me out of millions! Livingston Montana
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When I was 18 my father forced me to sign away rights to a trust fund that s now worth over $2 million. I had suffered homlessness at the age of 17. My father told me he would pay for college and housing, but only if I signed a document. I was told that this document was so that the monies held in trust could be invested, and that I could take the money out at any time.
Shortly after I signed this document my father withdrew all support. I was ill, and could not see a doctor because I had no money or medical coverage. When I regained my health I paid my way through undergraduate school. My father broke his promise to me.
When I was 21 & working my way through undergraduate school, I found out my sister was living rent free in a house that was half mine. Since she was always asking me to pay her utility bills, I decided I should just live in the home too (since it was half mine). My step mother said if I moved in, she and my father would sell the house so that my sister and her infant would have nowhere to live.
Then my father said he would buy my half of the house, and put up the other half for me to get my own home. I was so relieved. I did not realize that this was an elaborate con by my father. I was supposed to get a huge trust fund at the age of 21. My father had me sign papers, claiming it was to sign off on the sale of the house to my sister, but it turned out that I was signing away rights to yet another trust fund.
These trust funds are still intact. It turns out that I have been the victim of a complicated tax scheme and am have been forced to pay taxes on money I do not receive. I am not able to get the money out of the trust funds, because there are trust committees in place. The trust committees consist of my father's cronies, that are willing to continue to cheat me out of my money. Some of the people that have been or are on these committees are Robert C. Foster of Michigan (my father's brother), Lawrence Foster of Ohio (my Father's brother), Phyllis Foster of Michigan (my Uncle Robert's wife and my step mother's sister), Tim Mather of Nort Carolina, Thomas Baither, and Henry Mather Jr. The trust committees deny me access to the money held in trust.
Also, I am finding that the two banks that hold the assets held in trust have been involved in this scam. First, there is Northern Trust. Carol Grant Opferman (the trust administrator) and Dan Reilly (the tax preparer) have lied to me repeatedly over the years. They have both told me that I am required to pay taxes on all trust earnings from one of the trusts held at Northern trust & another trust held at West Michigan, even though all the earnings are not distributed to me. This creates a huge tax bill that is burdensome, and sometimes impossible to pay. According to the tax code this is not correct. I should not pay taxes on money I do not receive. I can not understand why Dan Reilly and Carol Grant Opferman have assisted my father in this scam by lying to me.
In regards to West Michigan. It turns out that my uncle, Robert C. Foster started this back over 20 years ago. So it is easy for him to have his employee, Sandra Pelarski, aid him in this scam. When I was finally starting to really understand just how complicated this scam was, I tried to get some answers from Sandra Pelarski. She refused to give me a straight answer, and kept putting me off.
On June 4, 2003 my attorney informed me that I should have had these assets held at West Michigan bank at the age of 21. I was floored. I did not know that the money put in this trust was MY money!
The I.R.S. has been of no assistance, even though these people are committing fraud against the I.R.S. as well as myself. I have tried to go to various government agencies for help, only to be told "it is not my jurisdiction". I have found that there are several laws that my father and these people have broken, again it is hard to file criminal charges, because everyone claims it is not their jurisdiction!
I am in the process of a civil proceeding. My father & his cronies are taking my money out of trust & using it to fund their legal fees! First, they scam me out of my money, & when I fight to get it back they use my money for their legal defense!
In the past I needed this money for housing, to pay for my college education, to cover my health care costs, and to cover my son's medical expenses. I could not get any money for this, but these people can now use it for their legal expenses?!? How outrageous is that?
By the way, the reason my father is doing this is because my step mother wants all this money go to her 3 children. My father adopted her 3 children, because their father did not want to stay in their lives for whatever reason. He has treated his 3 adopted children far better then he has me. He provided them all with healthy trust funds voluntarily, yet my step-mother wants my money to go to them too!
This report was posted on Ripoff Report on 12/11/2003 05:04 PM and is a permanent record located here: http://www.ripoffreport.com/r/James-Foster/Livingston-Montana-59047/James-Foster-my-Father-has-abused-fiduciary-relationship-by-trying-to-scam-me-out-of-mil-74782. 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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