ED Magedson – Founder
Animation Development Company18075 Ventura Blvd., Ste. 230 Encino, California United States of America
Unfortunately, I invested in Animation Development Company in 2008 and I fear that this company may be a scam. I have not heard back from them in a long time. They have told me stories over and over again about how I will soon be getting a check reflecting a return on my investment but they are empty promises. There has been very poor communication, a lack of updates and a lot of excuses. They have asked me to invest more money but I declined because I still haven't seen any return on my first investment. I did some research: Animation Development Co. received an "F" rating on the Better Business Bureau's (BBB) website because they are not registered with the Dept. of Corporations and SEC and are selling shares illegally. I was originally contacted to invest in a company called Headstart Entertainment which was a complete rip-off. I have now come to realize that the same salespeople who were raising money for Headstart now work at Animation Development Co. Here are some of the people who were illegally selling shares for both companies:
Ira Warkol (aka "Ira Warren")
James Gallagher (aka "James Stevenson")
Ed Cohen (aka "Mike Matthews")
Howard Miller (could be a fake name)
I have filled out complaint forms for the CA Deparment of Corporations (http://www.corp.ca.gov/about/complaint.asp),the Attorney General's Office (http://ag.ca.gov/contact/complaint_form.php?cmplt=CL)and the SEC (www.SEC.gov). Please file a complaint. Let's stop these people and get our money back!
This report was posted on Ripoff Report on 10/07/2010 03:00 PM and is a permanent record located here: http://www.ripoffreport.com/r/Animation-Development-Company/Encino-California-/Animation-Development-Company-Headstart-EntertainmentLegendary-Entertainment-Investment-648600. 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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