• Report: #27264

Complaint Review: Wynn Company aka WFG acceptance corp

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  • Submitted: Sun, August 18, 2002
  • Updated: Sun, August 18, 2002

  • Reported By:Phoenix az
Wynn Company aka WFG acceptance corp
Salt Lake City Ut, Arizona, Idaho,California Phoenix,Yuma, Mesa, Tempe, Arizona U.S.A.

Wynn Company aka WFG acceptance corp The Ponzi Scam worth $ 48 million dollars victimized many consumers Oren Utah, Idaho, Salt Lake City, Swiss Alps, South America, Phoenix , Yuma, Mesa, Tempe Arizona

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As a victim of a serious fraud I most definately challenge a rebuttal just make sure you leave your name

And now for the rest of the story 1

March 2000 one week after receiving our eldest sons life Ins. benefit following a very tragic death we were solicited by a promissory note company to invest with them at a high yield interest all based on automobile titles as collateral with escrow,this is the same company that goes by WFG or Wynn company, now usaCyberauto,they offer warranties apparently but it is reported that they do not honor these warranties when the purchaser needs it the most.

Like many our promissory note matured and any attempt to contact the company to liquidate our $70,000.00 was unsuccessful, we have not received a single return of amount loaned to this man as for the other $48,000,000 he owes, Now I have read the many postings against the company and have to say whether you were represented for an auto loan or if you loaned money to the company the treatment is all the same,take the money and run!

For the young lady in California who was reported to the credit reporting agencies by this company after she traded it in, I recommend you contact the better business b. or your attorney general for your state let them know that you are a victim of a fraudulent company and that you were targeted by a disgrunted employee who is responsible for reporting you to the credit companies, Chances are it was Janet Price at the Wynn company who did this to you,they are all under extreme investigations by the regulatory boards of commissions and the U.S. government.

Following multiple lenders complaints to the SEC that this company has practiced illegal business tactics,the company reportely pulled switches on colleral and sent corespondance to bogas addresses ect..trying to avoid confrontation and as you read on in the many posting's they treated people very unprofessionally, After about one month with the company I started to question the professional education alone the manner was not at all of a company that invested millions of dollars of other peoples money, the employees cried they smarted off,they basically now that I look back the whole demeanor was off from day one.

And as time goes we learn much more and it only gets worse with time We have now learned from a close source and former employee of the Wynn company that a person named Janet Price is in deep with Mr. Wynn and like the others she too will be facing criminal charges befor we are finished, We have also learned that chapter 11 reorganization bankruptsy emediatly turned into a Chapter 7 which was filed the first week of August 2002, at a deficit of $48 dollars owed to at least 800 people accross the South West part of the U.S.

Yes $48 million dollars .....where did it go?
All I know is After research I discovered car lots used to quote un quote raise the funds for the promissory note investors were empty and basically unproductive, with a few junk yard vehicals parked with cob webs and flat tires.I am sorry but it doesnt take a rocket scientist to realize that a company selling junk cars isnt going to make $48 million dollars plus interest to pay investors back, and they surely didnt buy cars with the money as claimed so is our government doing there job with these creeps are they realizing all of this or is the true American dream consist of ripping $48 million dollars off of innocent people and then filing bankruptcy with notices that say you can not attempt to collect your debt. or file suit against him I dont know about anyone else but our government needs to hear this.

I know of a total of $285.000.00 dollars invested out of my small home town alone in Arizona and this was all based on certified cashiers checks withdrawn from these innocent victims bank accounts handed over to Mr. Wynn less than 2 years ago, Sure we all feel like fools believing from officially signed contracts from Mr. Wynn that this company had been in business for 11 years and kept all collateral in escrow so where is it
where is the $48 million dollars?

The last investor from our area handed over a check and never saw his first interest check it was like burning $60,000.00
As I investigate I do not only find this company to operate all over as Auto car sales, warranty companies, promissory note companies, all under new names so many hard to find them all but I am looking and finding!
I have also found the company to fit an old scam called The Ponzi scheme like O.J.,s glove.

Money was taken by investors many old giving up there only means of retirement or like myself all I had left from my lost son!

But they do not concern themselves with us they are heartless and cruel and as crooked as they come, I welcome a rebuttal from SOB from this company I dare them.All I can say is they were robbing Peter to Pay Paul our no collateral was actual the writing is on the wall
Promissory note fraud is usually started with high interest and then it always ends up with first chapter 11 then chapter 7 after a waiting period and this is exactly what Dennis Wynn has done one example ...$285,000.00 between the year 2000 and 2002 and the SEC who has now investigated says they have absolutely no and have had no money for quiet some time, so when I received our interest checks it was from my own investment the interest came after they cashed my check.

Out of my $70,000.00 they have a profit of $58,000.00, some poor fools never saw a single interest check!

All I know is they messed with the wrong person.
I will not stop until we either get paid back the money or Mr.Wynn trades his wife in for a friendly cell mate named Bubba in a federal or state pen Hope you see this Mr. Wynn you know who I am! ..and you know the rest of the story.

Didi
Phoenix, Arizona

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This report was posted on Ripoff Report on 08/18/2002 04:15 PM and is a permanent record located here: http://www.ripoffreport.com/r/Wynn-Company-aka-WFG-acceptance-corp/PhoenixYuma-Mesa-Tempe-Arizona/Wynn-Company-aka-WFG-acceptance-corp-The-Ponzi-Scam-worth-48-million-dollars-victimize-27264. 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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