- Report: #103971
Report - Rebuttal - Arbitrate
Complaint Review: Norvergence - Sterling National Bank
Norvergence - Sterling National Bank550 Broad St. Newark, New Jersey U.S.A.
Norvergence - Sterling National Bank fraudulent contracts Ponzi scheme lies lies lies leasing banks in on fraud Newark New Jersey
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The recipe for a perfect scam to make millions for Norv owners AND the banks: Sell a product that all small businesses use - telecom.
Create a fraudulent system to give EVERYBODY savings - no matter what services they use - EVERYBODY saves 30%. Don't worry about actually providing those services - that's down the road after Norv has all the money... And the banks have an iron clad contract.
Use the explanation that Voice Over Internet (VOIP) and the new patent pending Matrix technology actually creates the savings.
Present a slick sales pitch - a company with the illusion of being a large and reliable source. Prominently display the Norv "partners" Qwest, Nortel Networks, Sprint, Cisco, Lucent etc.
Any thing the customer asks, promise them yes, show them the Norv contract, show there's no risk: poor service, you can cancel. Better quote - you can cancel. Have them call schill paid references. Just get them to SIGN the contract.
At no point do you ever ever ever tell them where the money is coming from or even WHAT is is they are committing to - it's a LEASE. An Equipment Lease with billion$ banks that know exactly what they're getting: a customer with excellent credit and a very profitable 5 year deal. Those stupid customers actually BELIEVE in good faith they'll be getting telecom services for 5 years! Ha ha ha. But none of them know the services to be provided by Norvergence are cleverly written into a separate contract designed to be legally completely SEPARATE from the equipment lease. What a scam. Good faith & honest business practices??? Norv & the banks say: Read the fine print you suckers. Not my problem you stupid little business just working hard for a living. Just PAY or we will SUE.
Remember that Norv's money all comes from the banks - not the scammed customers. MAKE SURE THE BANKS ARE HAPPY. The banks don't worry if their partner Norvergence will supply the service - they don't have to! Because the lease is iron clad to collect 10, 20 or even 50 thousand $ on a worthless box.
Then once the customers start actually expecting services, Norv doesn't pay the providers - cell phones, Long Distance etc. Doesn't pay the employees. Doesn't pay their health insurance. Just salt away the money, hide it well, & go bankrupt! It's easy - the Salzanos have done it before. Criminal Salzano Owners protected by bankruptcy laws! Leasing Banks are protected by UCC laws & the fine print ie "YOU SIGNED, YOU PAY OR WE SUE"! Small businesses are screwed, ripped off. No protection by government or court system against blatent fraud.
Honest people of the USA: Please help - make sure our government, our courts, and our media expose the slime Salzanos and their buddy Leasing companies like Sterling National Bank that thought they had a no risk high profit deal - scamming small businesses. Don't let these banks do it again.
This report was posted on Ripoff Report on 08/16/2004 07:27 PM and is a permanent record located here: http://www.ripoffreport.com/r/Norvergence-Sterling-National-Bank/Newark-New-Jersey-07860/Norvergence-Sterling-National-Bank-fraudulent-contracts-Ponzi-scheme-lies-lies-lies-leas-103971. 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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