• Report: #401343

Complaint Review: Squid Finance

  • Submitted: Sun, December 14, 2008
  • Updated: Tue, December 23, 2008

  • Reported By:Needham Massachusetts
Squid Finance
10800 Alpharetta HWY, Suite 208 #516 Roswell, Georgia U.S.A.

Squid Finance Entrepreneur ripped off in new business venture by this company, lost $20K Roswell Georgia

*Author of original report: Agreed Path Forward with Squid Development

*REBUTTAL Owner of company: World Class Business Enteprenuer with 20+ yrs Exp. with Fortune 500 companies cries for help!

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I approached Squid Finance from GoBigNetwork, looking for a company that would help me prepare a business plan for an invention, so I could seek for additional funding and get a business going. Not only my invention never took off, but they managed to convince me to invest $20,000 in another business that never took off either.

This company promises "Cash is KING and Squid has money for your developments."

In my case, the company jointly formed with Squid Finance was totally financed with my money, and they took 25% in sweat equity.

After many changes in direction about where the project was going and what should be done, hundreds of emails and broken promises (read this:
"Our goal is the same. I was clear about the fees for Phase I. The detailed plan will be developed and more importantly, we will get to market. Sales will occur. We will have cash flow. This is our commitment. If I get really efficient and make sales easy, you surely will not have a problem. If they are tough..and I spend many a day more than planned, I will not complain.")

The reality is that there has been $0 income, no sales, and no plan developed.

Now I have 75% of a company that has over spent in requests that I approved thinking that they were taking us to the right place, and once we ran out of money, we had nothing. No software platform, no sales, no money to continue.

I wonder if this could be taken to court, but I look into the eyes of my newborn daughter, and I have no words to explain how I feel thinking that someone took away money from me,from her, for nothing.

Needham, Massachusetts

This report was posted on Ripoff Report on 12/14/2008 08:48 PM and is a permanent record located here: http://www.ripoffreport.com/r/Squid-Finance/Roswell-Georgia-30076/Squid-Finance-Entrepreneur-ripped-off-in-new-business-venture-by-this-company-lost-20K-R-401343. 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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Updates & Rebuttals

#1 Author of original report

Agreed Path Forward with Squid Development

AUTHOR: Jf - (U.S.A.)

Squid Development is the company that I meant to report on, not Squid Finance. I have reached a temporary agreement to resolve our conflicts in an amicable manner.

Please DO NOT CONSIDER the original report.
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#2 REBUTTAL Owner of company

World Class Business Enteprenuer with 20+ yrs Exp. with Fortune 500 companies cries for help!

AUTHOR: Hf - (U.S.A.)

OK PEOPLE!! You will like this one! Here is the Resume submitted to our company prior to forming a partnership with a 27 page operating agreement with this man.


I have build websites for 3 years and somehow talked a man with this experience out of his life savings of only 20K!! lol. You have got to be kidding.

Thanks for the compliment! With NO Lies! Most of what he says is TRUE! I am that good of a salesman...lol, but!! I tell NO lies and am actually still planning on making the project a winner in spite of the fact that HE IS THE MAJORITY PARTNER stabbing us in the back!

20k and NO PARTICIPATION! I have over 500 HOURS! in this development AND IT WAS MY FREEK'in IDEA!!

#1 His proposal was rejected by our company because it was weak.
#2 We sold him on a better business concept.
#3 Following the letter of the law and in spirit, we proceeded to move forward.
#4 The origianal 3rd party companies that we were working with broke apart and created a situation where we could not function as an affiliate, but we would need to develop an entire platform that we admitted that we had no experience developing - IVR Phone systems of this level.
#5 Squid worked so hard to make this work, we almost went out of business! We are in fact still committed to getting something ready for sales...and more funding.
#6 He self admits that he is the boss and makes the calls! Look at this Resume!!!
I couldn't touch this! I'm now wondering if he is a Scam?!
#7 He has a baby...has financial problems and like all individuals does not want to take responsibility for a risky equity investment. 80% of Start Ups FAIL! He knows this. We have not even quit yet. He is the owner!!!
#8 He is such a "trusting" jet setter that he invested in this company without EVER MEETING US IN PERSON! EVERY! EVEN NOW! We only know him by some IPhone!
#9 All his successes and a web developer by trade (me) talk him out of his life savings in one phone call and some IPhone Emails. lol. Come on people...the public can be worse about this stuff than car dealerships. The public lies more that established businesses in general, like it or not.
#10 Anyone who reads this Resume should look out for this man! This so called entrepreneur who is versed in multiple languages, manages 10+Million Dollar Budgets, Fortune 100 company history for 15 years and on and on is a back stabbing partner.

READ THIS RESUME! Serious businessmen welcome at the SquidFinance.com.
Come see how clear we are about what we do -- WORK!!


We may still buy out JF and take this concept to the next level leaving JF behind with his little 20k and a sack of Bull he obviously carries on his back. I should have know not to partner when he took 6 weeks to transfer shady money it appeared from Spain through PayPal. PayPal suggest not even taking monies from Spain now!

So! We are launching a new website to open a forum so the WORLD can see what the TRUTH is behind this desperate cry for money....HE IS BROKE! Nothing more...Nothing less. Someone give this superstar a job so we can get back to work.

We will be launching an EXCITING website www.juansuaraz.com (coming coon . . .) We would LOVE your feedback! Squid Mania!

If you have concerns about how to spend you hard earned dollars, call us! The Squid can help. Sorry folks . .. . I'm soooo tired of people not wanting to take responsibility.
I have been on both sides of the fence. If I invest in a looser...and there is no fraud, guess what?? I loose! RISK! RISKY! HAS RISK! HIGH RISK! How else do you state it in a book written by our attorney signed by all parties?!

No business is perfect. We welcome any criticism from anyone with an IQ form 90-110.

READ THIS RESUME !!! I Thought I was dealing with a WHALE! I got a Blow Fish who knocked up someone to get his Green Card apparently. JF is no a US Citizen, but he is quite happy to move here and chase the Great American Dream. Stop crying JF.
Were not done yet.

JF (His Initials)

(Address) Great Plain Avenue, Needham, MA 02492

Home ( can't give numbers
Cell ( can't give numbers



2007 - Current - Partner, COSTA Integrated Marketing and Communications - Boston, MA.
Lead Partner with all Sports, IT, Telecommunications and Industrial markets. Manage and create corporate strategic communications goals and implementation plans as well as IT strategies for numerous clients.
Leadership Development - Executive and Middle Management personalized Mentoring and Coaching.

2006 - 2007 - Global Director of Corporate Communications, Public Affairs and Business Continuity, CEMEX, Inc., Monterrey, MX.
Arguably the leading manufacturer of Cement, Ready-Mixed concrete and Aggregates with revenues over $20 Bn, CEMEX needed to establish a public profile in order to promote and protect its reputation and enhance its ability to do business.
Created and established the Public Affairs Function for CEMEX, structured around four agendas: stakeholders trust, CSR and Sustainability, Reputational risk and Public Policy / Advocacy. Coordinated global communications teams and agencies in more than 50 countries. Reporting to SVP Corporate Communications and Public Affairs.
Responsible for the development, implementation and oversight of global strategic initiatives ranging from delicate international acquisitions to creation of the global continuity program for the company. Reporting directly to Executive Committee and CEO. Liaison with all Country Presidents for Business Continuity matters.

2004 - 2006 - Head of Corporate Marketing & Communications, Europe Middle East and Africa Region, DUPONT, EUROPE (Geneva, Switzerland).
Led the Corporate PR Function in 20 countries, with more than 30 employees, a PR leadership team of 8 managers, a lead agency and around 15 smaller agencies, with a $10Bn budget.
Coordinated regional marketing initiatives with HQ in USA, from marketing and branding, Public Affairs, issues management, internal and external communications.
Achieved brand and company visibility in top tier media outlets (The Economist, EU websites, national newspapers like Frankfurter Allgemeine, El Pais o Il Corriere de la Sera).

2002 - 2004. Regional Leader Corporate Brand, Europe Middle East and Africa Region DUPONT, EUROPE (Geneva, Switzerland)
Established the corporate marketing and brand strategy for Europe, Middle East and Africa, including special brand valuation, brand essence and identity.
Created awareness campaigns in Eastern Europe, combining advertising, online and PR tactics. Increased sales leads 35% in two years.

1999 - 2002. Global Online Communications Manager and Media Relations Officer for IT/eBusiness. DUPONT, USA (Global HQ, Wilmington, DE, USA)
Project leader for the redesign of DuPont.com 1999-2001. Increased unique visitors by 50% in more than 50 countries. Coordinated major agencies (iXL, March1st, Accenture, CSC) to a third generation DuPont.com.
Creator of DuPont's domain strategy.
Active leader in the creation of the DuPont e-Business group, launching initiatives like Elemica.com, Capspan, Teflon.com and Lycra.com.
Project leader of Online Marketing strategies for corporate initiatives with third parties (NASCAR, Fortune, New Yorker).

1999-2000 The DaVinci Institute (Louisville, CO, USA) External collaboration as Director of Global Operations
International introduction of the Think Tank in international circles.
Wrote paper on Virtual Countries and Dual Citizenship, published in The Futurist magazine, and accepted in a government panel on e-World in Germany.

1997 - 1999 Corporate Communications Country Manager, Spain and Portugal. DUPONT, SPAIN
Represented DuPont before Prime Minister of Spain and his cabinet (Minister of Industry, Minister of Economy) in all project updates to a $1Bn Greenfield manufacturing site.
Created the first Community Advisory Panel in the North of Spain.
1991 - 1997 IT / Operations management and supervisory positions. DUPONT, SPAIN. (Asturias, Spain)
Largest Greenfield site of DuPont in the world; supervised various IT and Telecommunications teams, installing the largest campus fiber optic network /FDDI ring in Spain.


Founder and CEO, HYPERMEDIA SYSTEMS (Asturias, Spain)


New Technologies Multimedia Startup.

Created the company, and grew it 200% in 3 years, making multimedia and digital video works for local environmental companies, Ministries of the National Government and large companies (like DuPont), becoming the number one contact for clients.
Obtained funding from the European Union for the largest multimedia educational project for scientists (Phase Diagrams).


European Leadership Development Program, by IMD (Lausanne, Switzerland) and LEADERSHIP TRUST (Ross on Wye,UK).


Executive MBA - High Potential Professionals (HPP), THESSEUS BUSINESS SCHOOL (Nice France)

Degree in Management of Telecommunications and New Media - EOI (ESCUELA DE ORGANIZACION INDUSTRIAL) & UNIVERSITY OF OVIEDO

BS in Computer Sciences. UNIVERSITY OF OVIEDO . Thesis in Artificial Intelligence and Knowledge Engineering


English and Spanish, bilingual

French, medium


Entrepreneurial, leadership, interaction with senior management, strategic planning, public speaking, future trending, six sigma, coaching and mentoring


"Trust Zone" (currently in progress)

"Virtual Countries" (published by The Futurist, issue May-June 2002)
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