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Report: #1071085

Complaint Review: Preservation Of Wealth - Addison Texas

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  • Reported By: Consumer Affairs — Other
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  • Preservation Of Wealth 15851 Dallas Parkway Suite 1110 Addison, Texas USA

Preservation Of Wealth, Justin Davis "Very importantly, unlike most other companies, POW charges no surprise fees at the end of the check out!. No gotcha-fees, no mark up on bullion, no handling fees, etc… Once you place your order, the metals and price is locked in/. You are expected to pay at that price, we are expected to sell at that price and your order is delivered as soon as possible?. " So much for integrity these guys are a rip-off I would not recommend them to anyone. Addison Texas

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THIS COMPANY SHOULD BE SHUT DOWN BY THE AUTHORITIES.  RECIEVED AN ORDER OF 100 SILVER EAGLES IN WHICH 80 WERE UNCIRCULATED & THE OTHER 20 WERE CIRCULATED.

THIS COMPANY IS SELLING A PRODUCT IN WHICH IT DOESN'T ALREADY OWN.  

THE DODD FRANK CONSUMER PROTECTION Section 742 states, Retail transactions are  exempt from CFTC oversight if they either result in a physical delivery within 28 days or create an enforceable obligation.

Orders are now waiting 8-12 weeks with Preservation Of Wealth, which means they fall under CFTC oversight.

Justin Davis will not send Metals or Funds if he doesn't want to.  He is a fraud and in direct violation of the DODD FRANK CONSUMER PROTECTION ACT.

Bait-and-switch is a form of fraud used in retail sales but also employed in other contexts. First, customers are "baited" by merchants' advertising products or services at a low price, but when customers visit the store, they discover that the advertised goods are not available, or the customers are pressured by sales people to consider similar, but higher priced items ("switching")

The intention of the bait-and-switch is to encourage purchases of substituted goods, making consumers satisfied with the available stock offered, as an alternative to a disappointment or inconvenience of acquiring no goods (or bait) at all, and reckoning on a seemingly partial recovery of sunk costs expended trying to obtain the bait. It suggests that the seller will not show the original product or service advertised but instead will demonstrate a more expensive product or a similar product with a higher margin.

Legality

In the United Statescourts have held that the purveyor using a bait-and-switch operation may be subject to a lawsuit by customers for false advertising, and can be sued for trademark infringement by competing manufacturers, retailers, and others who profit from the sale of the product used as bait. However, no cause of action will exist if the purveyor is capable of actually selling the goods advertised, but aggressively pushes a competing product.

Likewise, advertising a sale while intending to stock a limited amount of, and thereby sell out, a loss-leading item advertised is legal in the United States. The purveyor can escape liability if they make clear in their advertisements that quantities of items for which a sale is offered are limited, or by offering a rain check on sold-out items.

Multi-level marketing (MLM) is a marketing strategy in which the sales force is compensated not only for sales they personally generate, but also for the sales of the other salespeople that they recruit. This recruited sales force is referred to as the participant's "downline", and can provide multiple levels of compensation.  Other terms used for MLM include pyramid selling, network marketing, and referral marketing.

The U.S. Federal Trade Commission (FTC) states "Steer clear of multilevel marketing plans that pay commissions for recruiting new distributors. They're actually illegal pyramid schemes. Why is pyramiding dangerous? Because plans that pay commissions for recruiting new distributors inevitably collapse when no new distributors can be recruited. And when a plan collapses, most people - except perhaps those at the very top of the pyramid - end up empty-handed."

Preservation Of Wealth, the business is run in a manner that is parallel to the businesses run by members of organized crime, "consisting of associated enterprises engaging in patterns of legal and illegal activity."

Family members, much like organized crime groups, hold positions because of who they are, and not because of any particular job qualifications.

The Mafia uses "omerta" and violence for control,” and Preservation Of Wealth uses other tactics, with similar effect.  No negative talk or action is permissible.

As punishment for speaking out against Preservation Of Wealth,  Justin Davis will not send your Metals that you paid for or your Commission Checks that you rightfully earned.

CONTACT the Attorney General of Texas @ 800- 621-0508

CONTACT THE FBI @ 1-800-CALLFBI (225-5324)

Contact the @ CFTC (866-366-2382)

This report was posted on Ripoff Report on 07/29/2013 02:41 PM and is a permanent record located here: https://www.ripoffreport.com/reports/preservation-of-wealth/addison-texas-75001/preservation-of-wealth-justin-davis-very-importantly-unlike-most-other-companies-pow-1071085. 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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