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  • Report: #864580

Complaint Review: P2P Cash

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  • Submitted: Thu, April 05, 2012
  • Updated: Thu, May 31, 2012

  • Reported By: John — Houston Texas Cambodia
P2P Cash
885 Woodstock Rd. Suite 430 Woodstock, Georgia United States of America

P2P Cash Thomas Meredith CEO Fraud and theft in work for free cash or stock scam Woodstock, Georgia

*Author of original report: 100% SETTLED WITH P2P CASH

*REBUTTAL Owner of company: Martinson Extortion Attempt

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I worked 636 hours for P2P Cash from 2004-2011 for free after being promised $50 an hour in cash or stock in return by the President and CEO Tom Meredith from Alpharetta Georgia 770-518-1920, My work included building IT infrastructure, managing Linux servers. Apache2, SSL's, VPN's, PCI Compliance, even providing free servers and bandwith for years.

When I asked to be paid for what he owed me which was $31,800 payment in cash or stock in March 2012, The P2P Cash CEO Tom Meredith said that there was no contract. I asked Tom if he would ever pay me for my free work in cash or stock which he promised to me dozens of times since 2004, Tom Meredith said "NO!". Here is an email the CEO of P2P Cash sent me recently: 

On 01/15/2011 08:24 AM, Tom Meredith wrote:
John 
We ARE f*cked up! We have NO money Everyone is scrambling to stay alive, but that all changes here VERY soon Keep hanging in there..you are NOT working for free
Tom Meredith

This report was posted on Ripoff Report on 04/05/2012 07:13 PM and is a permanent record located here: http://www.ripoffreport.com/r/P2P-Cash/Woodstock-Georgia-30075/P2P-Cash-Thomas-Meredith-CEO-Fraud-and-theft-in-work-for-free-cash-or-stock-scam-Woodstock-864580. 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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REBUTTALS & REPLIES:
1Author 0Consumer 1Employee/Owner
Updates & Rebuttals

#1 Author of original report

100% SETTLED WITH P2P CASH

AUTHOR: John - (Cambodia)

This complaint has been completely settled
thanks to the CEO Tom Meredith.
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#2 REBUTTAL Owner of company

Martinson Extortion Attempt

AUTHOR: tom meredith - (United States of America)

P2P Cash is recently the victim of an extortion attempt by John Robert Martinson. He worked as a consultant to P2P Cash; the first year under a stock compensation plan, then for a salary plus commission. He was compensated over $10,000 during the latter.

Unfortunately, Martinson did not open any new business or close business that was given to him to close. When asked for a plan for the region, he was unable to create one. In other words, we were financing his lifestyle in Cambodia while he didn't show any tangible results on behalf of the company.

Once our investors became aware of his past history of multiple jail sentences and consumer fraud, we had to let him go.  Please review this article published by a local Atlanta paper before he left the country:
http://clatl.com/atlanta/a-hated-man/Content?oid=1249169   

At that point, we asked for the hours that he worked while he was under contract (which he had not submitted previously). He estimated approximately 100 hours, but wanted to be paid in cash for the time he was under salary plus commission as well.

We offered to issue 5,000 shares of stock (100 hours@ 50 shares/hr) as we were obligated to do so under the contract, but he demanded cash for ALL the hours he worked while he was on salary and commission only.
He since threatened to extort us via creating several blogs to defame the company and has done so despite our attempts to remediate the situation. If he was allowed back in the country, we would sue him, but he won't for obvious reasons.
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