IWI (Internet Wealth Institute) contacted me for a Home Business Opportunity. I spoke to Mr. Jerry Nuelle on Saturday Dec 1st, 2012 and then on Sunday Dec 2nd. He made an appointment via telephone with both me and my husband for us to know more about the business. At this time, he explained us about the business that included the creation of a web presence and the possible generation of a monthly income of between $ 5,000 to 7,000. He showed us a website where the company presented an extraordinary good record as per the BBB (Better Business Bureau), rated AAA. The investment, a total of $10,732.80 included the creation of a website.
Mr. Nuelle was very excited about the business opportunity and he wanted to close the deal as soon as possible. The contract was signed to Monday, December 3rd. According to it, there was a three days period to cancel the agreement.
Mr. Jerry Nuelle made sure to close an immediate contract and in order to do so, he contacted my bank by doing a three way call, and so the transfer of money was guaranteed.
The training session were done by The Coaching Department. After the fourth training session was completed, I received another phone call from a gentleman called Paul (1-801-921-4300) from this Coaching Department Company indicating that if I wanted the webpage setup, there would be an additional charge of $ 11,000. I was outraged and I mentioned to him that my understanding was that they webpage was already included in the investment, and I was not able to come up with that amount. He called the day after with a new price for the service of only $3,500.00 that was a substantial reduction of the initial amount.
That called my attention and I began to do some research online and discussed this issue with other people. We found out that the Coaching Department that was in charge of the training sessions is not recognized by the Better Business Bureau. On top of this, the company currently presents 21 cases of scam and fraud complains with some lawsuits pending, as per the ripoff.com web site. This website presents cases of consumer abuses.
We also reviewed the agreement and found out that there are several informalities on it. There is not legal address on the contract; IWI is not identified as any kind of company, there is not a description of the length of training or cost per session, or its specific contents. The contract does not show any responsibilities on their behalf, although mine are very explicit.
On top of this, my home phone number and my personal email address have being compromised since I started doing business with this company. I started receiving nine to ten daily phone calls all related to starting a home business. My email address with which I never have any problems was hacked; my contacts started receiving spam and junk mail that I never sent them.
I intended to solve the issue by contacting my Bank to see if this transaction could be reversed presenting all supporting documentation that shows this company is a scam. I also sent a letter to the Coaching Department to request a refund on this investment, but with no success. At this time, I spoke to Mr. Mario Tucker from the Coaching Department, on January 21, 2013, and he indicated to me that they cannot make this refund due to the agreement already signed. He also mentioned that my account with them would be on hold until my Bank contact them.
I am not sure what the connection between IWI and The Coaching Department is. Up to this point, I have not received any formal letter from any of them in reply to the letter I sent them.
I have filled a complain with the FTC and Utah Consumer Protection Department in order to find a way to recover this money or take legal action to recover it. There should be a way to stop these type of scam companies keep operating and creating on people.