ED Magedson – Founder
SUMMER CASH AND GAS CERTIFICATES DAVID SMITH8335 Winnetka Ave. #420 Winnetka , California USA
SUMMER CASH AND GAS CERTIFICATES DAVID SMITH complete fraud on profit sharing program costing me $5,500.00 with 100% Guarantee on return of investment not honored. Winnetka California
You may be reading this report because you have invested into the Summer Cash and Gas Certificate profit sharing program. You may be reading this report becuase you are David Smith or the company Summer Cash and Gas Certificates itself. Be warned: Summer Cash and Gas Certificates and David Smith are running a scam and will receive proper punishment as a result of their fradulent activities.
My Report: In May 2013, the Summer Cash and Gas Certificate Program sent me a promotional letter to purchase "mailing spots" in their upcoming Summer Cash and Gas Promotion. The business model was described as a profit sharing model at 50/50. The company was selling only 100 mailing spots at $500.00 per mailing spot. The company would then use the $50,000.00 received from the mailing spot partners in order to conduct a direct mail promotion to sell Cash and Gas Certificates nationwide to Businesses who were interested in using Cash and Gas Certificates to promote their products/services. The financial projections stated that their sales would be estimately $1,000,000.00 within the timeframe of July 2013 through September 2013.
From the $1,000,000.00 in sales, the Summer Cash and Gas Program would distribute any profits as a 50/50 split. The company also made a 100% guarantee of the initial mailing spot investment that the company would provide Gift Certificates to the mailing spot partners in the amount of their initial investment in the event that the company did not profit as well as projected. I indicate on the order form that I would like to receive WalMart Gift Certificates in the event that the company did not profit as well as projected. In May 2013, I did send my order form and a money order via UPS Ground in the amount of $2,500.00 to purchase 5 mailing spots (at an initial cost of $500.00 each).
In June 2013, I did receive a one page letter in the mail from the company stating that I have purchased 5 mailing spots and they sent me an additional opportunity to purchase 8 more mailing spots at a discounted cost of $375.00 per mailing spot. I decided to call the company at 1-800-591-5592 and spoke to a person named Johnny. He explained that the 8 mailing spots have become available due to a person who became ill and asked for their initial investment back. I decided to complete a "check by phone" in the total amount of $3,000.00 to purchase the 8 additional mailing spots. Total investment to date = $5,500.00 ($2,500.00 in May 2013 + $3,000.00 in June 2013).
Now it is November 2013, the Summer Cash and Gas Certificate Program has not sent any correspondence regarding the profit sharing. I have attempted to contact Johnny several times at 1-800-591-5592, but only a recorded message plays. There is no possibility to leave a voicemail or to speak with a person. According to several scam reports online (do a Google search for “Summer Cash and Gas Scam”), I am seeing the similarities between myself and other “mailing partners.” There is no promise or 100% Guarantee to send a Gift Card in the total amount of my initial investment. I have arrived at the conclusion that this company and David Smith must be reported to the correct authorities and an indictment for fraud will be in order. I do seek to receive my initial investment of $5,500.00 plus damages.
If you are an attorney and would like to represent me in this case, please contact me. If you are also affected by this scam, please contact me to share more of the details regarding your case, to enable us to better prepare ourselves for the suit that will follow.
This report was posted on Ripoff Report on 11/05/2013 11:51 AM and is a permanent record located here: http://www.ripoffreport.com/reports/summer-cash-and-gas-certificates-david-smith/winnetka-california-91306/summer-cash-and-gas-certificates-david-smith-complete-fraud-on-profit-sharing-program-cos-1097101. 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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