- Report: #1126211
Report - Rebuttal - Arbitrate
Complaint Review: Charles Volk - Worthington Energy - Paxton Energy
Charles Volk - Worthington Energy - Paxton Energy220 Montgomery Street, Suite 1094 San Francisco, California USA
Charles Volk "Oil Acquisition" scoundrel and thief scammer!!! - Worthington Energy - Paxton Energy: Charles Volk, Worthington Energy, Paxton Energy Charles Volk toxic oil acquisition and scam to investors and debitors. Pocketed money directly into his pockets scamming investors and debitors. Scoundrel, theif and a crook!!! Nevada & San Francisco California
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Charles Volk will take your money and never return it. The only way he will return your money is if you are trading the stock for him utilizing his insider trading and toxic debt schemes and providing him a kickback at the expense of investors and lenders.
Charles Volk indicated he needed money for the operations of his Oil & Gas company Worthington Energy. His office in San Francisco, no longer open as he has depleted all investor and lender funds, would meet with investors and lenders and make promises of a pending oil acquisition and needed financing to perform on the project. In fact this scoundrel and thief had zero intentions of doing an acquisition and pocketed the money utilizing an insider trading scheme with toxic debt financing and illegal kickbacks from these companies who would dilute shareholder equity for cash on the side. Charles Volk is a theif, scoundrel, and pure scammer. DO NOT INVEST ANY MONEY YOU WILL LOSE IT ALL!!!!
Money was provided to Charles Volk’s company Worthington Energy aka Paxton Energy which were secured via instruments and lead to believe other assets. When reviewing the instruments after Charles Volk disappeared and stopped answering phone calls and emails these instruments were found to be useless. The stock in addition was managed in a way that diluted all investors to the point where any return is impossible, however Charles Volk took regular scheduled money out of the company for working with traders to dilute this stock on the purpose of a paper pushing game with the declining stock. A very complex but underhanded and dishonest business acumen and way of doing business. In addition funds which were “dedicated” and promised to be “secured and put aside” were in fact not. Charles Volk has funds in excess of $500,000 in his personal account which would pay a large portion of funds required to resolve this matter but will not return calls or email and is hiding. Such a coward!
In discovering how this companies inner workings take place I have found that they utilize a number of brokers who purchase securities from them. As they continually issue more shares to pay for the older debt while taking new investors on and receive a large share of the new funds to line their pockets we are concerned that our remaining funds are in jeopardy to a Ponzi scheme. In addition investments are never secured by assets to which this company has indicated they have, thus another fraudulent act.
DO NOT PLEDGE ANY MONEY OR BUY STOCK THIS COMPANY IS A FRAUD!
This report was posted on Ripoff Report on 02/24/2014 05:17 PM and is a permanent record located here: http://www.ripoffreport.com/r/Charles-Volk-Worthington-Energy-Paxton-Energy/San-Francisco-California-94111/Charles-Volk-Oil-Acquisition-scoundrel-and-thief-scammer-Worthington-Energy-Paxt-1126211. 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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