- Report: #752994
Report - Rebuttal - Arbitrate
Complaint Review: William Lane
William Lane5325 E. Flower St. Phoenix, Arizona United States of America
William Lane William Lane, William E Lane, Bill Lane, Investment Banker, Executive Producer, Investment Banking Advisor , Visionary Entrepreneur, StoneRidge Studios, Rectangle Group, BFR Capitol, Character Actor P Con-man, Fraud, Inducement of Fraud Phoenix, Arizona
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Mr. Lane had claimed to be a Wall Street Investment Banker and successful entrepreneur on many business ventures. He expressed his desire to become more involved with film and suggested to my partner that he gets involved with the films production as well as being an investor. During this time Mr. Lane had also approached me about investing some additional money in a new deal that he was setting up for the film. He wanted about $50,000 to complete the project and purchase a shell for the new company that was going to release the film. He claimed that he would pay for it himself but that he was having some trouble with his accounts and had recently hit some bad luck with the economic downturn. [continued below]....
He didnt stop there; he also wanted me to invest an additional $10,000 in a stock called PVRE. He claimed to have years of experience in the stock markets and claimed to have made millions. He said he was going to invest into a stock called PVRE and wanted me to go in with him for $10,000. He said it was a temporary investment, about three months. He also said that he would cover me for the entire amount if any thing went wrong and it turned out not to be a good investment. At the time I didnt know as much about how the market worked so I trusted his judgment as an Investment Banker and gave him the $10,000 as well.
Soon after I gave him both checks things changed. Suddenly he stopped returning my phones calls and was too busy to meet up with me. When I approached my partner about what was going on he informed me that he had no idea of what had happened and he certainly didnt condone it as Mr. Lane suggested. It quickly became obvious to me that he had no intention of paying me what he owed and that none of the money that I invested to complete the film actually went to the project or a shell. I later learned that Mr. Lane was never an investment Banker and doesnt have the legal authority to act as one.
My business partner tried to confront Mr. Lane about the matter. Lane responded by filing a false copyright claiming that the film that I paid for was signed over to him. He also stole my partners computer, which had a copy of the edited project.
My partners and I are currently suing him for this highly illegal stunt he pulled. I am also going after him for the money that he defrauded me out of. While doing this I have also learned that there are several other people and companies also suing him. He has close to six lawsuits currently and will probably have more soon. I also learned that he never had any real money, all the nice homes he had were rented using someone elses credit and none of the limos he had were in his name.
This man he the worse person Ive ever met. No one that knows him is better off for it. This man eventually rips off everyone; girlfriends, business partners and close friends. Whatever you do, dont trust this man.
This report was posted on Ripoff Report on 07/14/2011 01:56 PM and is a permanent record located here: http://www.ripoffreport.com/r/William-Lane/Phoenix-Arizona-85018/William-Lane-William-Lane-William-E-Lane-Bill-Lane-Investment-Banker-Executive-Produce-752994. 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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