- Report: #918163
Report - Rebuttal - Arbitrate
Complaint Review: John Gale Lane
John Gale LaneInternet United States of America
John Gale Lane John Lane John Lane is a fraud and a convicted felon who will not honor his written money back guarentee. Internet
A Child is Born
John Gale Lane was born John Gale Hackney. His name changed (for the first time) to Lane upon his adoption. He enlisted in the US Air Force for one tour in the early 1960s. Later he attended some college and law school but never obtained a degree. John Lane is fond of calling himself a law school graduate, but he never even obtained a college degree.
A Fraud is Born
Lanes first documented association with a major fraud appears to have been in the early 1980s when he served as president of a Wall Street Firm called Gill and Duffus. In 1984 he pled guilty to personal tax evasion as well as facilitating the same. The fraud that brought Lane down was initially reported by a man named Walter Raquet. Today, Mr. Raquet is the owner of two successful firms (WR Capital Management and Knight Trading Group) and has a net worth in the tens of millions. After his downfall at Gill, Lane appears to have absconded to Europe and lived under the alias Robert Morgan. He claims to have founded the Stamford Research Group, but the timetable of his claim does not coincide with the groups own regarding its founding. During the 1990s, Lane claims to have worked with a number of investment related outfits such as TLC and Kidder Peabody. Both of these companies had a major scandal in the time periods Lane alleges (in his background linked here) he worked there. Kidder had to be sold off after a bond trading scandal in 1994, and TLC was ordered dissolved and to pay over 100 million dollars to investors that had been defrauded via a real-estate Ponzi scheme, in November of 2001.
Coincidently, Lane seems to have founded Taxsalelists.com in 2002 (the year after the demise of TLC). John Lane hawks his educational material based on claims of having actual experience as an institutional buyer of tax liens, but our sources question Lanes claims. One of his daughters, Lindsey Lane, appears to have been involved in the due diligence process for institutional tax lien buyers. Lindsay (pictured, the red head) resides in Idaho and leads the data team that acquires the lists marketed by TSL. The marketing of these lists may be the one legitimate aspect of Lanes business, but it accounts for less than 10% of TSLs annual revenue.
Another way TSL makes money is by hawking 3rd party products such as multilevel marketing schemes to sell Acai berry drinks and real estate courses from Preston Ely. This was the first clue to ask for a refund. If this guy is a respected tax sale guru, why would he want to plug other peoples stuff, some of it that does not even relate to real estate?
Making Fraud Pay Lanes Money Back Guarantee That He Never Honors
To get people to buy his education program for a one-time payment of over a thousand dollars, Lane needed to convince that they could make money and that there was no risk. His organization accomplished this with its written 125% guarantee, and clever excuses for why none of them currently purchase tax liens. One of the TSL salesmen said that would be a conflict of interest. This is like a used car salesman saying he only buys new cars because buying used would be a conflict of interest, or a doctor purporting to teach a surgery that he no longer performs. We have yet to see credible evidence that John Lane has ever purchased a tax lien. Buying tax liens, however, requires investment capital, but Lane still wants your money even if you dont have money to invest in tax liens, so he boasts that he will teach you ways to make money off of tax liens without having to buy any liens, by finding people who are entitled to overbid payments and charging them a reasonable finders fee.
Lanes refund policy reads as follows:
"WE GUARANTEE that if you USE our program for 12 months and are not completely satisfied we will give you your money back, no questions asked AND an additional 25% of what you paid."
However when it comes time to pay refunds, Lane wants to define use as follows:
We will be more than happy to give you a refund if you can provide us with the following documentation: 1. All the tax sales that you have attended 2. All tax lien/tax deeds you have purchased (copy of the lien certificate will do) 3. Interest earned on the lien 4. Why you feel you have lost money on the investment.
This response clearly demonstrates fraudulent intent because it is the customers definition of use, not Lanes, that controls the agreement. Secondly, nowhere in Lanes definition of use is there any mention of the no investment ways of profiting from tax liens, so his definition is clearly crafted to avoid refunding any money. Lane knows that the following guarantee would result in zero sales for him:
"WE GUARANTEE that if after taking our course you attend a tax sale, purchase a tax lien/deed, earn interest on it and still lose money, that if you keep doing that for 12 months, we will give you your money back AND an additional 25% of what you paid."
John Lane and Taxsaleists.com LLC have been sued, successfully, multiple times for refusing to honor the money back guarantee. (NJ Case) (OK Case)
Con Man Meets Bigger Con Man The Story of John Beck
If you stayed up late during the beginning of the new millennium, you might know the name John Beck. John Beck ran an infomercial extolling the easy money to be made in just weeks by purchasing valuable properties for pennies on the dollar. Beck was actually the celebrity front man for a company called Family Products LLC. In May 2012, John Beck, Family Products LLC, and a slew of others were found liable for a $450 million fraud in an FTC action. The court determined that it was not possible to accomplish what Beck had promised and Beck knew this. Beck had three primary ways of generating revenue from his marks: 1) his relatively inexpensive education program that automatically and unknowingly signed the customer up on a recurring payment; 2) Private coaching - where coaches, often telephone operators with no relevant experience, were billed at hundreds of dollars an hour; 3) LLC setups A transaction that can easily be accomplished with $100 and no lawyer, but for which the Beck organization billed thousands. Many Beck customers spent tens of thousands of dollars, and almost none made any money or profit. John Beck himself, it turns out, only ever bought 10 tax liens/deeds.
One of the recurring bill items that Beck sold was access to his Property Vault which contained lists of properties to be purchased for pennies on the dollar. This vault was actually John Lanes lists. Seeing the money made by Beck, Lane decided to use his connection with Beck to market his own brand of tax lien education. To provide access to his list database, Lane apparently received some sales leads from the Beck organization. Lane began marketing his own tax sale education program to Becks leads. It is possible that Lane made over $1,000,000 from the John Beck organization.
The Wall of Shame
John Lane is not able to carry out his business on his own. Others help him to accomplish this and should be identified with him. Cities are included for the purpose of properly identifying individuals. These individuals could be persons of interest in any legal action taken against TSL or John Lane.
1. Mary Ann Lane of Westminster, Colorado- John Lanes wife and 20% owner of the TSL.
2. Lindsay Lane of Boise, Idaho- John Lanes Daughter and employee of TSL. (Pictured)
3. Courtney Carlyle Lane John Lanes daughter, and head of TSLs social media. (Pictured)
4. Dee Hall of Utah- Sales Manager for TSL at one time and a friend of Lanes and one with whom he occasionally promotes 3rd party products to TSLs email list. Lane may have other ventures with Hall. We are unable to confirm that there are no ties between Hall and Family Products LLC which is also based in Utah.
5. Larry Lewis Sales person for TSL. Lewis appears to be quite the con man in his own right, accused of extracting credit card numbers to hold a spot in Lanes class, then billing the cardholder without permission. It is also rumored that Lane is grooming Lewis to take the fall when TSL goes down.
6. Chris and Ashley Shoppe of Colorado- The Shoppes are family members of Lane, but we are not sure how they are related. They work in the TSL call center in Broomfield.
7. Kyle Lavender of Houston, Texas- Kyle is the owner of a company, Incfile.com, that registers LLCs and claims to act as a recipient for service of process. While Kyle is listed as the Nevada agent for service of process for TSL, he appears to reside in Houston.
8. Wallace Reid Salesman for TSL
9. Joe Renner Employee of TSL, list preparation.
10. Dellata and Mike Strong Customer Support for TSL
11. Sebastian Wetzel
1. National Asset Recovery This is another business/tradename owned by John Lane at one time. It is alleged that Lane has moved large sums of money from Taxsalelists.com LLC to this entity.
2. Family Products LLC Utah This company is toast, but this is at least the second time its founders, they of Ab Energizer fame, have run amok of the FTC. The FTC is considering a lifetime ban from infomercials on these guys
This report was posted on Ripoff Report on 07/26/2012 08:50 PM and is a permanent record located here: http://www.ripoffreport.com/r/John-Gale-Lane/internet/John-Gale-Lane-John-Lane-John-Lane-is-a-fraud-and-a-convicted-felon-who-will-not-honor-hi-918163. 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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