I made an investment with the Wynn Company of Salt Lake City (also gone by the title: W.F.G Acceptance Inc.). I am a single investor among many who are in a similar situation. Many of the investors with the Wynn Company are close family members as well as extended family. Each of these individuals have their own story and personal situation of disappointments ranging from not receiving car titles to investing money as much as $2,000,000 and not seeing the promised interest payments. However, I would like to share with you what I know about the company and about my situation.
My name is Brandon. I made an investment of $7,500 on December 4, 1996 to the Wynn Company. This was to be invested for a period of 52 months. This Principle amount plus accrued interest compounded monthly at 18% per annum
My investment and contract became mature on April 4, 2001. A month prior to its maturity I sent a letter to the Wynn Company thanking them for the opportunity to invest with them and looked forward to payment in full which was now around $16,000. I made many phone calls and a personal visit to question why I had never received this promised money. October 22, 2001 I did receive a payment for $3767.64. I was surprised and thrilled to see this and made an immediate deposit. With many more phone calls and questioning I received a second payment for $100 the second week in January. I have not received any payment since that time and wonder if I ever will. I had continued to call about every other week to visit with the owner Dennis Wynn, but am always screened by the secretaries. They have recently installed an automated touch tone answering machine to direct calls that only gives you the option to leave a message. These messages are never returned.
To the best of my knowledge the Wynn Company is an auto dealership. I believe they fix and repair old or wrecked vehicles and sell for profit. They have changed their business a few times it seems they have moved into the auto parts business. They have Dealerships and offices in Mesa, Arizona as well as here in Salt Lake City. Their Mesa address is 206 E. Main St. And their S.L.C locations are 8200 S. State St. Midvale (Dealership - now out of business) and 3068 S. Highland Drive (Dealership and Main Office going out of business).
A partner and vice President of Dennis Wynn left the company taking many investors along with him and creating a new company. Dennis Wynn has tried to keep his company alive and profitable. Rumors are always going around whether they are going out of business, filing for bankruptcy, or even running a scam full of fraud. On March 15, 2001 the company mailed out new contracts with a letter and invites all investors to sign. This promised that monthly payments would be received. I never signed this and those that did have not seeing any benefits. He has about 800 investors and tens of millions of stolen dollars.
My last visits to the Highland Drive address have been similar. I have stopped in on June 19th, 20th, 2002 to find not much happening. The place has been locked up recently and employees who work with the cars out back say that this has been going on a lot lately. They come and go to meetings. It was said that the owner Dennis Wynn has been in Idaho and would be back on the 21st. My Grandma and I went to the lot where they have about 10 cars being sold for $500 dollars a piece (a real I sore). We visited with two individual there Bill and Greg who said they don't work with the Wynn Company but they have been hired to liquidate the entire inventory (not much left). They said that Dennis is doing all he can to make the company grow and will soon be switching to a Cyber Auto online at the end of the month (located at ). I asked about the lot on 8200 S. State St. and these gentlemen said it is already gone.
On June 21st, 2002 my grandma and I returned to the Highland Drive office and found a recent employee out front waiting for someone to pay her last paycheck. The office was opened this day but no cars out front as usual. Inside we visited with Dennis Wynn's daughter, Amy. She said her Dad was still in Idaho and that nobody was there but her. She said they are trying to cut back on expenses and overhead. They have let all the employees go except Janet who is highly trusted of Dennis but was on vacation. We questioned quite a bit to get some answers but she was not of any help.
I got a hold of Dennis on the 24th he said that they were filing chapter 11. I believe they are continuing to run the mesa, AZ location and will be starting the business fresh from their online web site at usacyberauto.com I have many #'s for the Wynn Company please help my find some honest answers and possible solutions to recovering my investment. In being hopeful to be able to recover some if not all of my money I also want to expose Dennis Wynn and his operation of fraud. Please help stop him from hurting others. Thanks,
Some of Dennis Wynn's previous accountants and employees:
*Susan G. Hale
Salt Lake City, Utah
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