ED Magedson – Founder
Jared Williams304 Indian Ave Virginia Beach, Virginia USA
Jared Williams Willco LLC Ripped me off for 135,000 dollars Virginia Beach Virginia
I was contacted by Jared Williams in August, 2011. He was referred to me by a friend of mine who is married to Jared's cousin. Jared told me he had been purchasing bank owned and foreclosed homes, remodeling and then selling them at a large profit. He asked me if I would be interested in investing in a home with him and he would pay me a high rate of return on my money. I agreed as long as I would get a 1st Deed of Trust on the property in return. He agreed. He offered me 6 points for a 30 day note on a loan of 75,000 dollars. I wired him the money to Commonwealth Title & Abstract on August 24, 2011. I received a Deed of Trust from Bobbie Hillman at Commonwealth Title & Abstract in Virginia Beach ( I later found out that Bobbie notarized the document but never had it recorded). At about the 30 day mark I began contacting Jared to find out when I would receive my money and interest. He said things were going well but taking a little longer than expected. He then began evading my calls and became very hard to get in touch with. As it turned out he did sell the property and paid me in full per our agreement on October 15, 2011.
Within a few days he emailed and asked if I would be willing to invest again with him. I agreed to same terms as before and on October 28, 2011 I wired Jared Williams 90,000 dollars. I received another Deed of Trust from Bobbie Hillman in return. Again, I would find out later that Bobbie never had the document recorded. In fact, Bobbie gave the document back to Jared because he told her he would get it recorded and save her the time. A few weeks later Jared called and asked me if I would invest in another houes. I agreed and wired 45,000 dollars on November 16, 2011. This time I never received the Deed of Trust as promised.
It has been over 2 years now and I have never been repaid. I had many conversations with Jared and Bobbie about recovering my money. Bobbie admitted her wrongdoing by not getting my Deed of Trust recorded. I found out that the Deed of Trust was never recorded when I attempted to foreclose on the property. THe property has since been sold and I did not get any money.
I have hired an Attorney in Virginia Beach to try and recover my money. Since Jared has found out about the suit he has been hiding. I have heard that he did the same thing to several other people. I heard that he has moved to Texas where his Mother lives. Jared has or had a Company by the name of Willco LLC.
Do not do any business with Jared Williams, Willco LLC or Commonwealth Title and Abstract unless you can afford to lose all of your money.
This report was posted on Ripoff Report on 11/21/2013 06:55 PM and is a permanent record located here: http://www.ripoffreport.com/reports/jared-williams/virginia-beach-virginia-23451/jared-williams-willco-llc-ripped-me-off-for-135000-dollars-virginia-beach-virginia-1101330. 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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