• Report: #949509

Complaint Review: Wecosign Inc. Frank & Tara Jakubaitis

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  • Submitted: Mon, October 01, 2012
  • Updated: Thu, October 04, 2012

  • Reported By: CONCERNED CITIZEN — BALBOA ISLAND California United States of America
Wecosign Inc. Frank & Tara Jakubaitis
Santa Ana, California United States of America

Wecosign Inc. Frank & Tara Jakubaitis COUNTERFEIT INSURANCE COMPANY WECOSIGN INC. TO BE SHUT DOWN. EXPERIAN, TRANS UNION & EQUIFAX CREDIT REPORTS SHOW A PATHETIC FINANCIAL HISTORY FOR FRANK & TARA JAKUBAITIS. i TUNES CARD, i PAD, FRANK'S Santa Ana, California

*UPDATE Employee: Distortions and Misleadings

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COUNTERFEIT INSURANCE COMPANY WECOSIGN INC. TO BE SHUT DOWN. EXPERIAN, TRANS UNION & EQUIFAX CREDIT REPORTS SHOW A PATHETIC FINANCIAL HISTORY FOR FRANK & TARA JAKUBAITIS EVEN THOUGH HE CLAIMS TO BE THE INVENTOR OF THE APPLE i TUNES CARDNO ONE ELSE IN THE WORLD SEEMS TO KNOW THIS & HE WILL PROBABLY TAKE CREDIT FOR INVENTING THE APPLE i PAD & THE i PHONE AND FOR HELPING AL GORE INVENT THE INTERNET AS WELL! JAKUBAITIS IS SO FULL OF HOT AIR HES A MAJOR CAUSE OF GLOBAL WARMING! PRESIDENT OBAMA DISAPPROVES

 In the last 15 years or so, Frank & Tara Jakubaitis seem to be having a hard time holding onto their property. First they have their horse repossessed, then their yacht is repossessed and finally they get their house repossessed!  I also heard they got their office furniture repossessed. Whats going on with these two? This is very strange considering they claim to cosign for others who have bad credit and cant lease an apartment. Its now become apparent why Jakubaitis started
this businesshe needed this service mostly for himself and figured since it doesnt exist, he would start one upat least he could approve himself. He just seems to have missed the minor detail that when his customers tenants default, hes
responsible for the rent so you better keep some reserves around. Well, needless to say, Frankthe imbecile that he isspent all his money on lawsuits, luxury yachts, two Mercedes Benz (one being a 500 SL) and a Hummer. What a
brilliant businessman! First to market but couldnt market his way out of a paper bag. EVERYTHING STATED ABOVE CAN BE INDEPENDANTLY VERIFIED BY GOING TO: OCCOURTS.ORG AND SEARCHING BY HIS NAME.

Having reviewed Jakubaitis credit reports, it appears that hes been in damage control for a very long time. His M.O. of under-earning and over-spending is nothing new.  His FICO is basically down in the sewer which is ironic since this is where Frank is apparently most comfortable since he keeps over-spending his way down there.
Im not sure if he can afford to file for BK but hes quickly running out of options.  Jakubaitis recently posted information on his website: www.wecosignbutwedontpaywhentheydefault.com and he rambles on and on about disgruntled employees and RICO lawsuits but do yourself a favor and visit the OCCOURTS.ORG website. Look up his name FRANK JAKUBAITIS and WECOSIGN and notice that every case where hes the plaintiff suing someone else, HE LOSES THE CASE. FRANK & TARA JAKUBAITIS JUST SEEM TO HAVE A LOT OF BAD LUCKOR ARE THEY REAPING WHAT THEYVE SOWN?

He also claims that he invented proprietary underwriting software but my investigation has revealed that his idea of proprietary underwriting software is an Excel spreadsheet with a formula that Frank may have helped create but its nothing that a freshman at Orange Coast College couldnt do and it obviously doesnt work. He claims that his default rate is
down which is interesting in light of the fact that multiple property managers keep complaining that their tenants who are screened and guaranteed by Wecosign keep defaulting and when they do, Wecosign finds some excuse not to pay the
rent.

I asked a friend of mine whos a psychologist to assess Frank Jakubaitis from an observational perspective based on what can be gleaned from court documents, public records and eye witness testimony thats been gathered. His conclusion was very interesting; he explained that Jakubaitis is a classic egomaniacal sociopath whos delusional and has paranoid-schizophrenic
tendencies. When I learned of this diagnosis, every thing started to make sense. Now that I understand Franks shortcomings so much better, I have a lot more sympathy for Tara who has to live with him.

Frank Jakubaitis masquerades as a helper of the people but hes really just taking advantage of people constantly. Hes a counterfeit insurance company that's going to be shut down. His famous line is, "This thing (Wecosign) is like an ATM machine!" WELL, NOT FOR LONG FRANK! OH YEAH, YOU'RE GOING DOWN!!!

I really want to encourage Frank to seek help and to join LA (Liars Anonymous) to get back on the path to reality and honesty.

This report was posted on Ripoff Report on 10/01/2012 11:12 PM and is a permanent record located here: http://www.ripoffreport.com/r/Wecosign-Inc-Frank-Tara-Jakubaitis/Santa-Ana-California-/Wecosign-Inc-Frank-Tara-Jakubaitis-COUNTERFEIT-INSURANCE-COMPANY-WECOSIGN-INC-TO-BE-S-949509. 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 UPDATE Employee

Distortions and Misleadings

AUTHOR: Records - (United States of America)

Mr. Jakubaitis, as many people do these days, has a fraud notification alert on file with all three major credit bureaus. Before an inquiry can be made by any entity, the individual is notified. Not once has he been notified of any inquiries. This poster alleges to have copies of Jakubaitis'credit reports which would be impossible, unless he's impersonating Mr. Jakubaitis, a behavior more correctly distinguished as identity theft.

Secondly, the Patent & Trademark Office does have on record Jakubaitis' business model patent for the process of purchasing and downloading digital content, filed in 1999. The Apple iTunes music card and every subsequent "card" sold and purchased in a retail environment follow this patent model.

If Wecosign were a counterfeit insurance company, the company would have never passed muster with the SEC and its grueling questionnaire and required disclosures (reviewed by dozens of SEC attorney's) audited quarterly by an independent PCAOB accounting firm and its financial records kept by a CFO and Controller. Notwithtanding these negative libelous postings whose only intent is to defame and destroy, Wecosign continues to move forward assisting credit-challenged individuals obtain rental housing, an opportunity they would otherwise not have available to them...every day.

And yes, we do sit in chairs at desks, and no, our website has not changed. 
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