Report: #435878

Complaint Review: George Schultze - Schultze Asset Management, Tweeter Electronics

  • Submitted: Fri, March 20, 2009
  • Updated: Sat, January 19, 2013
  • Reported By: Wyncote Pennsylvania
  • George Schultze - Schultze Asset Management, Tweeter Electronics
    3000 Westchester Avenue, Suite 204
    Purchase, New York

George Schultze - Schultze Asset Management - Tweeter Electronics George Schultze owns Tweeter Electronics. He made the decision to confiscate deposit money placed down by customers rather than refund before a bankruptcy. Purchase New York

*Consumer Comment: George Schultze scammed us too!

*UPDATE EX-employee responds: Schultze is a crook

Show customers why they should trust your business over your competitors...

George J. Schultze is the Owner of Tweeter, which was an electronics superstore. Tweeter declared bankruptcy in Nov of 2008. I had an agreement drawn up with tweeter to have a TV installed in my home prior to the bankruptcy. I placed 2,500 down via check to hold my merchandise for installation a few weeks later. I paid via cash because I was fortunate enough to get a bonus that month and decided that paying cash was the right thing to do. I was then advised by a sales person a week later that Tweeter was going bankrupt and he would have my deposit refunded to me as soon as a check could be cut. Conveniently for Tweeter, they didnt have "time" to cut my check and I was now suddenly a donator to their bankruptcy fund. Not only did Mr. Schultze make the decision to steal my deposit money, he also was able to sell the TV which was ear marked and ordered for me, and get twice the money. He then turned around and paid his largest creditor Wells FArgo with the cash he stole from other sucker customers who did not get their deposits back. I took Mr. Schultze to civil court, but the local judge could not over rule a federal bankruptcy judge. The judge was very interested in how poorly things were handled, but his hands were tied. All Mr. Schulzes lawyer had to do was show up and say he was under bk protection. Mr. Schulze is hiding behind the corporate veil of Tweeters bankruptcy. Rather than being a stand up citizen and refunding a simple consumers money to them, he opted to steal it to line his bankruptcy coffers, and then had the balls to take the money and pay someone else. I am not a corporation, nor am I a multi millionaire like Mr. Schultze.

Beware of his company called SAMCO. They are investors and hedge fund providers who engage in squirrelly investments, and they will not hesitate to steal your money either. Why a multi millionaire could not find it in his heart to refund my $2,500.00 that i got absolutely NOTHING for, is beyond me other than that he must have a heart of stone. Thank you Mr. Schultze for stealing money from me and my family and I hope one day you get whats coming to you.

Wyncote, Pennsylvania
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This report was posted on Ripoff Report on 03/20/2009 08:18 AM and is a permanent record located here: 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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#1 Consumer Comment

George Schultze scammed us too!

AUTHOR: Bobby H. - ()

 This guy ruined mine and my families life.  Hard working middle class people.  He took our money for Tweeter products and services, never delivered the goods, refused to give us back our money and refused to pick up the phone.  That was a lot of money for me and my family.

He then tries to ripoff some of my friends and family that worked at Tweeter in Canton.  I'm happy to say that they ended up getting what was due them but it took lawyers to get involved.  The rich don't care about us working folk.  Think long and hard before doing business with this guy.  He's a horrible person. I have yet to hear anything positive about him or his firm.


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#2 UPDATE EX-employee responds

Schultze is a crook

AUTHOR: MarcS - (United States of America)

Not only did Schultze rip off customers he also robbed money from all the employees!  The bankruptcy was filed in 2007 for Tweeter, it is now 2013 and ex-employees like me are still waiting to get a little piece of the thousands of dollars owed to us that we earned.  I have no doubt that Schultze is tying up the process because he has millions of dollars in claims against Tweeter in the bankruptcy report.  His lawyers are probably asking for extentions and wasting time so no one gets paid but the lawyers.  This guy is scum of the earth at it's highest order!
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