• Report: #945351
Complaint Review:

Wecosign Inc. & Frank Jakubaitis

  • Submitted: Sun, September 23, 2012
  • Updated: Mon, October 01, 2012

  • Reported By: Taken To The Bank By Wecosign & the — San Diego California United States of America
Wecosign Inc. & Frank Jakubaitis
Santa Ana, California United States of America

Wecosign Inc. & Frank Jakubaitis ripped me off! Wecosign Inc. is a scam and Frank Jakubaitis is a thief that takes advantage of vulnerable senior citizens Santa Ana, California

*UPDATE Employee: Dubious Posting by 73 year person

*REBUTTAL Individual responds: WECOSIGN, Inc. Uncovers Evidence Linking Named Defendants to False On-Line Posting

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Im reporting a fraud and scam because Ive been taken advantage of by Wecosigns CEO Frank Jakubaitis. Im a 73 year old widow and was approached by a friend who introduced me to Frank Jakubaitis 4 years ago to invest in his great idea Wecosign Inc. I ended up writing a check to Frank Jakubaitis and investing the last bit of savings that I had left because he
promised me that I couldnt go wrong. Frank promised me and all the shareholders that he was going to make Wecosign Inc. stock valuable through his business relationship with Ebay who owns Rent.com. He apparently ruined this
business relationship and then he never issued my shares of stock and never sent me the stock certificate that I was supposed to receive supposedly within a few weeks of my investment.

I hope that other Wecosign investors who have been duped by this guy come forward and hold him accountable too. I dont understand how this scoundrel can get away with this behavior without the police or some authority stepping in to stop him from stealing peoples money like this. Ive heard of other Wecosign investors who experienced the same thing that I have. Im
furious with this man and I want some justice.

Mrs. MGK

This report was posted on Ripoff Report on 09/23/2012 07:03 AM and is a permanent record located here: http://www.ripoffreport.com/reports/wecosign-inc-frank-jakubaitis/santa-ana-california-92704/wecosign-inc-frank-jakubaitis-ripped-me-off-wecosign-inc-is-a-scam-and-frank-jakubai-945351. 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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Updates & Rebuttals

#1 UPDATE Employee

Dubious Posting by 73 year person

AUTHOR: Records - (United States of America)

The complainant states she purchased stock from Wecosign four years ago in the amount of $39,000, and she states her name bears the initials "M-G-K". This would put the year of purchase as roughly 2008. A review of the records shows there is no individual around the age stated, whose name bears the initials "M-G-K." Neither is there an investment in the amount of $39,000. 

Furthermore, there is no conceivable way this alleged individual could have written any check to Frank Jakubaitis. All potential investors were required to complete extensive paperwork drawn up by securities attorneys, and the transactions and discussions were handled by third parties.


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#2 REBUTTAL Individual responds

WECOSIGN, Inc. Uncovers Evidence Linking Named Defendants to False On-Line Posting

AUTHOR: Frank J - (United States of America)

The false postings in regard to WECOSIGN have continued,by former disgruntled employyes. The persons responsible for these false postings are

Carlos Padilla, Garden Grove
Richard Leger, Laguna Beach, wife a director
David Serio aka Dr. David 

All of the above employees were dicharged from WECOSIGN for various criminal conduct

SANTA ANA, Calif., September 24th  -- WECOSIGN, Inc. ("WECOSIGN") (OTC Bulletin Board: WECS, www.wecosign.com) announced today that it has uncovered evidence linking the defendants in a WECOSIGN's 40 Million Dollar Damage made online at Rip Off Report.com  The statements appear to have been made under an alias, "John Justice," that is OPERATED BY Richard Leger of Laguna Beach, a former disgruntled employee that was to be the companies new CEO that was fired before he could take office.
The statements first appeared in August, immediately after WECOSIGN filed its complaint in federal court for trademark infringement, unfair competition, cybersquatting, and violations of the Racketeer Influenced and Corrupt Organizations Act ("RICO"). "As soon as we discovered these postings, we immediately commenced an internal investigation to determine whether the claims had even an ounce of truth," said WECOSIGN's CTO. "As we suspected, we quickly determined that they were absolutely false. In fact, we have never received an application from a person named 'Jim Brown.' Furthermore, WECOSIGN's policy and practice are to refund application fees paid by applicants who do not meet WECOSIGN's service requirements,". stated Carlooser Padilla 
After WECOSIGN confirmed that the statements were false, the company immediately took steps to identify the culprits responsible for publishing them on the Internet. Ultimately, WECOSIGN's efforts led to the discovery of evidence that links the defendants in the federal lawsuit with the false "Jim Brown" postings. "We asked for and received permission from the federal court to take expedited discovery, which allowed us to identify the persons responsible for these untrue statements." Padilla continued, "We were able to link the individuals behind the postings with the defendants in our federal case. This evidence confirms our belief that these postings were not made by any legitimate customers, but instead constitute an outrageous attempt to injure WECOSIGN's reputation in the marketplace. This evidence vindicates WECOSIGN's stellar reputation, and we remain steadfast in our determination to obtain all of the remedies to which we are entitled in our federal lawsuit."

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