• Report: #928783
Complaint Review:


  • Submitted: Fri, August 17, 2012
  • Updated: Fri, August 17, 2012

  • Reported By: Michael — Galesburg Illinois United States of America
2520 Mission College Blvd., Suite 102 Internet United States of America

Printroom.com Is operating using a "PONZI SCHEME" business model! Internet, Internet

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Printroom is a store front for photographers to upload their photos and Printroom accepts orders & payments from photographers' clients to print photographs, and in return the photographer is to receive a profit check for all but about 16% of those sale amounts. As stated in Printroom's online Terms of Service contract the photographer will receive his profit check once $100 is accumulates in profits in the account.  Once the minium amount of $100 is achieved, Printroom is supposed to mail out the profit check the following month on the 15th.  They have not been complying with those terms for at least the past 3 years, but continue to post those clearly fraudulent terms of service!  

I am still awaiting my profit checks from sales in January and February 2012.  I have filed a complaint with the BBB, which resulted in a meaningless formletter "response" from Printroom, with no firm date for when checks will be paid.  The BBB has now lowered the Printroom company rating to an "F", due to the large and continuing number of complaints from disgruntled photographers awaiting payment.  This company is operating under a classic "Ponzi Scheme" business model, using sales from mt photo galleries to pay the profit checks due to other, likely larger, clients.  I believe that they continue to post their fraudulent "Terms of service" in hopes of attracting new, unsuspecting photographers to sign up and use their storefront service, thus generating "new revenue" to continue to fuel the "Ponzi Scheme"!

They are a classic, "Ponzi Scheme" Rip-Off, and are likely also in violation of interstate wire fraud statutes, by continuing to solicit new accounts based on their posted "Terms of Service", which they know to be fraudulent.  All pro photographers, be warned: stay away from this classic Ponzi scheme!

This report was posted on Ripoff Report on 08/17/2012 03:03 PM and is a permanent record located here: http://www.ripoffreport.com/reports/printroomcom/internet/printroomcom-is-operating-using-a-ponzi-scheme-business-model-internet-internet-928783. 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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