- Report: #747674
Complaint Review: Paul Wiltz of Monet Inc.
| Paul Wiltz of Monet Inc. 6000 Poplar Avenue, Suite 250
Memphis, Tennessee United States of America |
|
Paul Wiltz of Monet Inc. Wonda McGowan, denita scott is a SCAM, FRAUD, SNAKE, LIAR and a THIEF. Memphis, Tennessee
*Author of original report: Refutting Paul Wiltz' False Claims
*General Comment: Don't be fooled
*General Comment: Mone't Inc. funded.
*Consumer Comment: My Excellent Experience With Mone't Inc.
*UPDATE Employee: Ryan Gill, Cyle A. Williams, and all their Associates
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I am taking the time to write this, so that you do not have to experience what my team has experienced in the past few months in dealing with Paul Wiltz and his staff at Monet Inc.. May the following information be a warning and a red flag to you in regards to doing business with Monet. Paul Wiltz repeatedly lied to us, wasted our time and stole our money. Trust him at your peril. You have been warned!
My partner and I are finders who work to raise capital for our clients. We were impressed with Monet's good looking website and seemingly credible press releases. Prior to going into business with Paul, we actually read the ripoff report in which this is a response to... and we sided with Paul because of our naivety and urgent need for funding. We did not heed the warning and we paid the price. Please don't fall for the same scam we did.
We approached Paul Wiltz and his staff with several deals. After reviewing all the documents of each, Monet decided to take one on, assuring it was a grand slam that they would close in no time. Paul assured us and our client repeatedly that he had a specific investor lined up, stating "You have no idea how fast I will close this deal. This is what I do." and that he "would close in 7-10 days" from going into contract with Monet. Paul Wiltz told us he would close this deal in 7-10 days, but he needed a $2500 due diligence fee to cover the time and expenses he and his staff would invest in getting the deal done. We offered to go into contract with him only if he would agree to refund the $2500 retainer, upon not producing an offer. In addition to the refund clause, the contract included 100% transparency. Paul agreed to these terms. We paid a retainer.
After nearly 90 days of unreturned calls, swindling, stall tactics and blatant lies, Monet has produced no such offer and refuses to keep their word in refunding the retainer. A couple weeks after the "specific investor" that Paul told us he would close in 7-10 days, failed to produce an offer, in the spirit of transparency, we called the CEO of the company directly inquiring about the nature of their relationship to Monet. In so doing, we learned that Monet had never done a deal with them before, and that they didn't even do the type of financing the we required. If Paul Wiltz were an honest businessman with integrity, he would have disclosed these truths upfront.
A month after failing to produce his promised offer, a month of "The offer will come next Monday", "The offer will come tomorrow.", Paul switched strategies and targeted another source for funding which he claimed a solid relationship with. We have sources who actually know the heads of this hedge fund and those Principals told us that Paul is a greasy slime ball and that they can't stand him. In addition, we have developed a relationship with another Principal of whom the Monet website claims to be in a $100M deal with. This Principal verified that they did have an initial engagement with Monet, but the deal died, went nowhere, and that Paul was put off the project indefinitely. The press release on the website, does not reflect this reality at all, even further evidence of deliberate deception in attempts to collect retainers.
We found our experience with Monet to very similarly reflect the experience of the rip off report to which this is a response to. Paul is likely to rebute this post with more of his convincing slick talk. You will be a damn fool if you fall for his scam after being warned twice. We gave Paul an opportunity to be a man of integrity, a man of his word, and refund the retainer. Paul obviously felt that keeping the $2500 was worth destroying a business relationship as well his credibility with everyone who will read this.
A man is only as good as his word. If your word is no good, you are no good. In our experience, Paul Wiltz of Monet Inc is no good.
This report was posted on Ripoff Report on 06/30/2011 03:54 PM and is a permanent record located here: http://www.ripoffreport.com/r/Paul-Wiltz-of-Monet-Inc/Memphis-Tennessee-38119/Paul-Wiltz-of-Monet-Inc-Wonda-McGowan-denita-scott-is-a-SCAM-FRAUD-SNAKE-LIAR-and-a-747674. 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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Search Tips#1 Author of original report
Refutting Paul Wiltz' False Claims
AUTHOR: NeverAgain - (United States of America)
SUBMITTED: Monday, January 28, 2013
Never did our client pay any fees to any "fraudulent broker" as claimed by Mone't. This absolute lie from Paul Wiltz is eligible for a for defamation lawsuit. We did talk to a fraudulent scam artist who was pretending to be an lender, not a broker, and he attempted to collect fees from us, but we never paid these fees. Ironically, the same individual who referred us to the fraudulent scam artist, referred us to Mone't The only difference between the fraudulent scam artist and Mone't is that we foolishly paid the fee to Mone't. Even if we had paid the other fraud the fee, it would not have anything to do with Paul Wiltz stealing our fee. Paul Wiltz act of mentioning the scam artist is a fallacious red-herring and ad-hominem attempt to divert attention away from his dishonest behavior, while discrediting our complaint. Do not be fooled.
The issue is, that we specifically requested a refund clause be added to our time-bound service agreement with Monet. The refund clause was that if Paul Wiltz/Monet Inc. were unable to produce an offer within the timeline of the service agreement, Paul Wiltz/Mone't Inc. would refund the money. Paul Wiltz agreed. Paul Wiltz produced no offers within his 60 day service agreement, and he refused to refund the money, as he had agreed to. It is really that simple. We paid the money, the client did not pay the money, and neither of us were refunded after the 60 day service agreement expired. Any alleged offers after the 60 day service agreement are irrelevant.
Further, we never once asked for, as Paul stated, "an advance on a deal that has not closed." Are you kidding? This is an additional false defamation claim eligible for a lawsuit.
Very shortly after our initial complaint was posted on Ripoff Report, Wonda, the Executive Vice President of Mone't, who observed and contributed to the bad business practices of Mone't during this entire experience, emailed us stating "This email is to inform you that I no longer serve as Executive Vice President or in any capacity with Mone't Inc. and Mone't Films." She then provided an email address which she stated had no affiliation with Mone't Inc. or Mone't Films. Now, if we were in the wrong, why would the ex-VP of Mone't want to maintain contact with us after we had added her to Ripoff Report? Why would she want to dissociate with Mone't? I'm sure the truth is clearly apparent to all intelligent readers.
The writing is one the wall. Paul Wiltz of Monet Inc. has demonstrated a track record of bad business practices which cause clients to post ripoff reports and employees to leave.
Do not let Mone't's deceptive argument tactics fool you. Our experience was real, and everything we have posted here is true. If you value honesty and integrity in your business relationships, and are considering doing business with Paul Wiltz, I remind you to consider the ripoff report posts about him while considering his deceptively fallacious and outright dishonest rebuttal tactics.
#2 General Comment
Don't be fooled
AUTHOR: RonKrizp - (United States of America)
SUBMITTED: Sunday, July 29, 2012
If she is assisting in the illegal wire fraud that Mone't is perpetuating, her attorney/client privilege is null and void.
#3 General Comment
Mone't Inc. funded.
AUTHOR: Tbmarquis - (United States of America)
SUBMITTED: Saturday, July 14, 2012
Mone't Inc doesn't fund everyone. But it has proven that it funds.
#4 Consumer Comment
My Excellent Experience With Mone't Inc.
AUTHOR: Satisfied Filmmaker - (United States of America)
SUBMITTED: Monday, August 15, 2011
#5 UPDATE Employee
Ryan Gill, Cyle A. Williams, and all their Associates
AUTHOR: Mone''t Inc. - (United States of America)
SUBMITTED: Saturday, August 13, 2011
Neither Mone't Inc. nor its employees, as Ryan Gill and Cyle A. Williams stated, "Stole their money". What Ryan Gill and Cyle A. Williams neglected to include in their complaint, is that they were both working with a fraudent broker that was a part of a scam that almost cost the Principal/Client his Company (as stated in an email received from the Principal/Client dated June 10, 2011). The Principal/Client had aready paid a due diligence fee to the fraudulent broker that Ryan Gill and Cyle A. Williams were associated with, and since Ryan Gill and Cyle A. Williams are being paid by the Principal/Client they chose to enlist a third party to pay the due diligence fee in behalf of the Principal/Client in order to protect and receive their "Finder Fee" from the Principal/Client.
However, (our Service Agreement is with the Principal/Client, only! If there is a 3rd party involved in paying the "due diligence fee" for the Prinicpal/Client, there should be a separate agreement with the Principal/Client and the Payer of the "due diligence fee"). (Mone't Inc. will not disclose the Principal's Name and Business, due to the Confidentiality Agreement that is in place with the Principal/Client). Due to the fact that Ryan Gill and Cyle A. Williams lack experience, or as they stated in the complaint are "naive and in urgent need for funding," for personal needs and asking for an advance on a project that has not closed, truly shows the neglective extent they have gone with this matter. Ryan Gill first approached Mone't Inc. with a personal project. Mone't Inc. took a pass, because it did not meet the criteria for funding. Then he came back with several other projects, and we did not do them either, for the same reasons. We have on file, a NCND Agreement with Ryan Gill. For him to go to our sources, behind our backs, conduct an audience with them and then lie, about unfounded events and statements, is Unprofessional and Juvinille! Ryan Gill and Cyle A. Williams agreement for compensation is between the Principal/Client per email received from the Principal/Client dated June 10, 2011.
I am not sure why Ryan Gill and Cyle A. Williams insist that Mone't could close this transaction in 7-10 days. As per our company's Service Agreement that was executed by the Principal/Client on 04/19/2011, it stated in the term sheet the following: In most cases, closings can occur within 10-15 days upon meeting all underwriting requirements.
Our funding partner went through great lengths to finalize the Purchase Order transaction, but based upon further analysis, the risk and performance became their greatest issue, and a few untruths were found. This was also explained in detail to Ryan Gill and the Principal/Client before the Service Agreement was issued and executed. (that if any unforseen or untold factors arises, this will cause problems and delays, and the due diligence fee, will not be refundable. Mone't Inc. has evidence of what the proposed financing structure would be, directly from them. Mone't Inc. also facilitated a conference call with the Principal/Client and the Lender directly, to discuss these issues.
The Principal/Client has requested that all negotiations, terms and contracts are to be sent directly to the Principal/Client and that Mone't Inc. should not forward any such information to Ryan Gill, Cyle A. Williams, or any of their associates, and that the Principal/Client would keep Ryan Gill and Cyle A. Williams up dated on the funding of the project.
The due Diligence fee of $2,500.00 was for the preparation and presentation of application(s) to our lending partners, loan evaluation, structuring and technical assistance services. The following is the refundability clause in the Mone't Service Agreement, deposit Two Thousand, Five Hundred Dollars and 00/1000 ($2,500.00). This deposit is refundable only if Client fails to receive any offer(s) to fund the receivable request from Mone't Inc's Lending partners and resources. If offer(s) are presented and Client refuses to engage them for any reasons, then the Service Agreement Deposit is non-refundable.
Since Ryan Gill and Cyle A. Williams posted this compliant, the Principal/Client has received a funding offer from our lending partner and is moving forward in finalizing the terms of the funding agreement. Due to the fact that the Principal/Client received a funding offer, there is no refund due to, the Principal/Client.
My personal advise to Ryan Gill, Cyle A. Williams, and their Associates, is that you should have all your facts together, stop reaching out to Mone't Inc's sources, present and pass and spreading lies, name calling, crying wolf, looking for business cheerleaders and trying to escalate a negative situation, on what was explained to you from the beginning, and stop the ridulous acquisation that " We stole your money", knowing that it was given my your third party associate, to protect your Finder's Fee. Then man-up and explain that to your third party associate. This will be a great start to maturing in this business!
Also, as you can see, the report/complaint that you made reference to (that was prior to your complaint), has been updated and retracted (take a look)! Mone't Inc. is not a Fraud, Scam, nor do we Take Advantage of Clients! " We do it right or Not at All"!

