• Report: #218751

Complaint Review: Topgun International

  • Submitted: Thu, November 02, 2006
  • Updated: Tue, March 03, 2009

  • Reported By:Ottawa Prince Edward Island
Topgun International
3a Antonio Court Newton, Adelaide, Australia Australia

Topgun International Grant And Nigel Rimington decpetive misleading conduct to grab money from innocent 'mom and pop' investors Ripoff Adelaide south australia

*UPDATE EX-employee responds: Topgun or Topripoff!!!

*Consumer Comment: Top Gun International NOT Conmen. Going strong.

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There have been several reported cases of TOPGUN INTERNATIONAL (nigel and grant Rimington), with their salesman 'neil waugh' giving information to investors that they will receive in the range of 30-50% of their investment annually after expenses. They sell amusement machines (pac man etc)and then 'run' them for you. The reality is about 10% and they give you all sorts of excuses as to why they are not performing like they said...'it's just slow at the moment', or 'school holidays/spring break' or 'its tax time'..the list is endless. Anything to attempt to mask their lies. When they are 'selling' them to you, you will NEVER get the salesman say 'you could get rediculously bad returns, in fact you could end up with far far less than my worst estimates'. What a surprise..they want that fat slice of the artificially high price of the machine in the first place. Don't forget to quote only the good locations that make some money in your sales pitch, neil.

They also sell their machines for over TWICE what they pay for them, and sometimes THREE TIMES the cost price, and information provided by previous suppliers gives this credibility, which may be bad enough, but when they don't quite make ANYWHERE near the claims to get you to BUY them, and you need to sell...THEN there is a massive problem. I highly suggest anyone making any investment (or knowing anyone in Australia who does)in the area of Amusement machines PARTICULARLY with TOPGUN INTERNATIONAL, ensure they get ALL claims and assertions and performance figures looked at by their LAWYER prior to signing anything AT ALL!!! In fact I dont know ANYONE that can vouch in a positive light for this company..

You will not get a refund should it not perform as per the advice from the 'salesman' and you will likely end up very angry and in a position that could be extremely difficult to resolve. It would likely be a good idea to inform others of this, and help prevent another family from potentially falling in the hole of financial distress because of people like this.

Anyone with a good story to tell about them is welcome but likely there will be silence in that department.

Neil
Ottawa, Prince Edward Island
U.S.A.

This report was posted on Ripoff Report on 11/02/2006 08:23 AM and is a permanent record located here: http://www.ripoffreport.com/r/Topgun-International/Adelaide-Australia-5074/Topgun-International-Grant-And-Nigel-Rimington-decpetive-misleading-conduct-to-grab-money-218751. 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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#1 UPDATE EX-employee responds

Topgun or Topripoff!!!

AUTHOR: Concerned - (Australia)

After dealing with this company for quite some time is has become apparent that the directors do not act in the best interests of their investors. This company has a blatent rip off spin attacted to all its correspondance. They will never tell investors of their little side business of machine hiring for parties or other functions. As the machines are set to free play, no coins are registered through the coin counters, so the upto $1000 a day cash only hires are none tracable. If you multiply the number of machines under so called management (approx 3000) and multiplied it even by a 1% per month, which would be low for most legitamet operators, you would arrive at $30,000 per month or $360,000 per year which no investor receives a cent!
For to long this company has been ripping off investors by delaying suppossed monthly commission payments upto 6 months. Machines for which the company are taking out atleast 50-60% commissions for themselves are leaving investors machines unservicable for many months on site. There is very little regard for investors profits even though Williams (most likely Grant, Nigel or Neil as I have met no investers impressed at all) comments would have you believe they are the best. People invest in this company hoping some of the hype to be true and receive a reasonable return for their investment, however they are soon to be rudely shocked shortly after parting with the money that the returns are nowhere near what Topgun say they are. As time goes on the commission payments to investors become further and further behind and their machines are moved all over the country where they are unable to substanciate the meter readings, and if not happy they can pay to have the machines returned from many 1,000's of kilometres away, so most investors leave the machines in fear of loosing all, as there is a huge drop in resale prices.
Topgun love their skilltester and prize redemtion machines as these are thier biggest money spinners. They take between 30-50% of the gross monies from each collect prior to paying the site 20-30% of the net, then they take 50-60% of the balance for their own commission, leaving the owner/investor between 10-15% of the gross, while Topgun keep &5% of the Gross!!!
Talking to these guys is like talking to a broken "Secrets of Sucess" cd. They will try and brainwash you and beat around the bush with all the best positive excuses they can muster when you have a problem with your returns.
Be warned, the national amusement body of Australia is heping to put together a class action suite against Topgun. This will be very costly to fight for them so any present or if stupid enough future investors stand to be the biggest loosers as most of the funding will come from the sale of their investments.
PLEASE NOTE! ANYONE DEALING WITH "SOUTH AUSTRALIAS 2005 FASTEST MOVERS" WILL BE 2009's FASTEST LOOSERS!!!!!!!!!!!!!!!!!!!
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#2 Consumer Comment

Top Gun International NOT Conmen. Going strong.

AUTHOR: William - (Australia)

I would encourage the previous negative commentor to be a little more proactive in their research for this company. It has been built over many years with satisfied owners of their amusement machines, and they take care of all the dramas of day to day maintenance, collection of revenues, and insurance. They also send detailed accounts to investors monthly, and are always available to investors wishing to discuss any items including new products they are developing or making available to the market.

Why not speak to management about any misconceptions instead of anything half baked you throw online?? Who are these suppliers you speak of and how do you supposedly know their margins??? Doesn't every business make a profit ?? Isn't that the point to having a business?? There are hundreds of investors and I believe you will find many good things said about their service, and their level of income. The guys that run Topgun are not conmen, and seem to be very interested in their investors, both presently, and into the future also.

I would expect to see other positive comments in the future for this company, i'm sure if you contacted some of the other investors you would get a few!! Any balanced portfolio should include a little diversification, so I am told. You say in your email there might be silence with good things to say... Well here's one voice that isn't silent. Keep those coins coming!
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