• Report: #832569
Complaint Review:

Equity Trust

  • Submitted: Wed, February 01, 2012
  • Updated: Wed, February 20, 2013

  • Reported By: Oshun — Orlando Florida USA
Equity Trust
225 Burns Rd Elyria Elyria, Ohio United States of America

Equity Trust Sterling Trust This Company Stole Funds From My Retirement Account By Withholding Information And Out Right Lies Elyria, Ohio

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I purchased an self directed IRA to invest.  Little did I realize then that the company I had  sought to use is as criminal as Madoff.   

They charge exorbitant fees and you don't know the fees you are going to be charged until after they setup your account.  

In my case I opened my account in August of 2010.  The Rep that opened my account informed me after I asked that I would not pay until the following year -eg 2012.  This year I got a bill wanted to know why I was getting a bill so soon.  

The rep I spoke to would not give me any information until I made a payment.  When I did I discovered Equity Trust had been helping themself to my contribution.  When I challenged the women, she claimed I'd never paid an annual fee so therefore I was being charged cause there was no record of it.  
I couldn't believe what I was hearing and immediately looked for my payment receipt as this rep went further to tell me that Equity Trust would need to see evidence of a bank statement that I had paid.  Well I produced such the next day.  

The n they changed the story.  I spoke to Melanie who was trying to do the right thing but she was just a lowly helper.   She did finally get me a supervisor phil Rody and  this despicable individual went on to claim that it wasn't because I didn't pay it but because I was charged when I set up the account and again before the year ended because they charge from January to December.  I was clear that the representative told me I would be covered for the end of the year and until the year passed.   This information was wrong, however the lazy bum did not bother to determine if the recording showed what the person said.

I told him that this is robbery and he went on to say these are the rules.  I then stated that if these are the rules why did you not correct the agent instead of making me responsible for your misinformation.  He told me he would not correct the problem so I told him I wanted out of their Ponzi scheme organization.  He then told me it would cost me $200 to close my account with them.  Can you imagine that and the IRS allows them to operate with peoples securities?  This Company is criminal and needs to be locked up just like Bernie Madoff.  And that Phil should burn in a hell he is so corrupt.  What a load of scum he is.

I closed the account as I don't want to further infect my being by association with scum like this.

If there are any class action suits against this company, as I see several complaint, I'd be glad to file with the State attorneys office to shut them down.

This report was posted on Ripoff Report on 02/01/2012 08:23 PM and is a permanent record located here: http://www.ripoffreport.com/reports/equity-trust/elyria-ohio-44035/equity-trust-sterling-trust-this-company-stole-funds-from-my-retirement-account-by-withhol-832569. 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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