Ripoff Report Needs Your Help!
X  |  CLOSE
Report: #1529726

Complaint Review: David Hughes, Genie Investments, Walter Trock, McMann, Zoomeral.com CON MEN, PONZI SCHEME -

  • Submitted:
  • Updated:
  • Reported By: Casey — Los Angeles United States
  • Author Not Confirmed What's this?
  • Why?
  • David Hughes, Genie Investments, Walter Trock, McMann, Zoomeral.com CON MEN, PONZI SCHEME United States

David Hughes, Genie Investments, Walter Trock, McMann, Zoomeral.com CON MEN, PONZI SCHEME David Hughes and Walter Trock operate a PONZI SCHEME: MILLIONS STOLEN

*REBUTTAL Individual responds: OFFICIAL REBUTTAL TO DEFAMATORY POST AND FRAUDULENT CLAIMS

Show customers why they should trust your business over your competitors...

Is this
Report about YOU
listed on other sites?
Those sites steal
Ripoff Report's
content.
We can get those
removed for you!
Find out more here.
How to fix
Ripoff Report
If your business is
willing to make a
commitment to
customer satisfaction
Click here now..

Beginning in 2020, and possibly before, two companies, McMann Commercial Lending (owner: Walter Trock) and Genie Investments, owned by David Hughes of Illinois, https://www.linkedin.com/in/david-hughes-05a66b48/ have been working a very sophisticated Ponzi scheme across state lines. Dozens of victims have had millions of dollars stolen from them in this sophisticated criminal enterprise.  Both companies offer a program they call a BELOC-Business Expansion Line of Credit-that they promote daily on their website for business owners to access low interest lines of credit that are not personally guaranteed. 

 

Through a variety of channels David Hughes and Walter Trock con you into believing that they have “bond market channels” in which they raise capital to lend out at cheaper rates than others. When clients ask for previous deals they have funded, they hide behind the fact that they are bound by non-disclosure agreements with previous clients as financials of course are private and thus they cannot share the companies or the amounts they have successfully funded.

 

Mcmann represents that their sister company is Genie Investments Nv, which is co-owned by David Hughes and Mike Conner who is an Attorney. 

 

McMann and Genie both work with a variety of brokers throughout the states to get clients to put money into an “ICA”  (interest carry account) to “lock in the loan.” They offer their clients a 80+ page contract which many lawyers and bankers have signed off on. That is how sophisticated this criminal ring is. They have eluded attorneys, and many savvy business people for years stealing millions of dollars as they hide behind their contracts. 

 

Mcmann and Genie ask everyone to use the Zoomeral loan portal to download their documents. The Zoomeral Company (zoomeral.com) is also Owned by David Hughes of Genie Investments. David Hughes represents that his “wholesale lender” which is supposedly based in the UK, has failed to perform thus he takes no personal responsibility for the financial ruin he has caused dozens and dozens of people. However, even though he has contracts he has breached from 2020, throughout 2021, 2022, 2023, he continues to represent to clients that he can “fund their lines of credit,” while never making good on previous contracts but simply walking away as he continued to take millions of dollars knowing he would not fund their companies. 

 

The Mcmann loan officer is Michael Lanza has been trained to represent to clients that Mcmann has ways to fund these BELOC loans and also they throw out their that they can do other bridge loans “on the strength of their BELOC program” 

 

Members are told the BELOC loan will be funded in 75 days for the first tranche which pays back the ICA and then some. The second tranche is to be funded 75 days after that and can be for the whole loan amount (often times millions and millions of dollars). Victims of this Ponzi scheme that is perpetrated by David Hughes and Walter Trock have lost millions of dollars.  The victims have banned together and have hundreds of emails, texts, recorded phone calls and voice messages from David Hughes and Walter Trock with proof of aforementioned crimes.

 

If you have been ripped off by David Hughes or Walter Trock, report it to the Illinois FBI and the SEC.

 

This report was posted on Ripoff Report on 11/13/2023 01:53 PM and is a permanent record located here: https://www.ripoffreport.com/report/david-hughes-genie-walter-men/operate-millions-stolen-1529726. 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

Search for additional reports

If you would like to see more Rip-off Reports on this company/individual, search here:

Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?

Updates & Rebuttals

REBUTTALS & REPLIES:
0Author
0Consumer
1Employee/Owner

#1 REBUTTAL Individual responds

OFFICIAL REBUTTAL TO DEFAMATORY POST AND FRAUDULENT CLAIMS

AUTHOR: David hUGHES - (United States)

POSTED: Friday, April 11, 2025

This post contains knowingly false, defamatory, and malicious statements made by an individual who has never been a client of Genie Investments NV, ZOOMERAL, David Hughes, or John Michael Cohan. Hereinafter, the "defamed parties" and "Genie". There is no agreement, transaction, communication, or verifiable relationship with this individual whatsoever. Legal action is underway to identify the source of this fraudulent post, and once identified, the individual will be held fully accountable through every legal and financial remedy available. We will not allow false narratives to undermine the reputation of honest businesses or the professionals personally behind them.

  1. No Relationship Exists — No Proof Because None Exists

This individual has never applied for funding, received approval, or engaged in any form of business with the defamed parties. The individual's name does not appear in any internal system, communication record, contract archive, or payment log. There is no relationship—period. Any claim to the contrary is not just inaccurate, their posts are a deliberate lie designed to inflict reputational harm.

  1. Independent Third Parties Cannot Be Misattributed

The post references Walter Trock and Michael Lanza of McMann Capital (also referred to as McMann Commercial Lending). These individuals are independent brokers—not employees, agents, or affiliates of the defamed parties.  Holding Genie Investments or its leadership responsible for the actions of unaffiliated third parties is both factually and legally baseless.

  1. The Capital Provider Breakdown Was Handled Transparently and With Legal Oversight

It is true that a third-party capital provider failed to perform under its obligations—an unfortunate but common risk in private capital markets. However, the leadership at Genie responded swiftly and responsibly. A well-known law firm specializing in private equity transactions was engaged to vet, structure, and negotiate all agreements and contracts with the capital provider. It must be clearly understood: at no time did any member of management send funds to the failed capital provider after they missed a contractually required funding deadline, nor were any funds released without direct legal advice.

A completely false claim has been made that Genie Investments NV knowingly sent funds to the failed provider after it had already defaulted on delivery due dates. This is demonstrably untrue. All disbursements were made in accordance with legally negotiated terms and with the full involvement of our legal counsel. Any assertion to the contrary is not only incorrect—it is defamatory. 

  1. No Silence — No Fraud — Just No Dialogue With Cowards

Contrary to the claim of “silence,” the defamed parties have consistently communicated with legitimate clients and partners. What they have not—and will not—do is engage with anonymous fraudsters attempting to weaponize fake identities and false allegations, nor will they allow any licensed professional to overstep their bounds. The person behind this post, along with others, has created a fraudulent name, a fabricated profile, and a knowingly false narrative on various websites. Everyone can be rest assured: this individual will never reveal their true identity because they know they will be held legally accountable the moment they do. That day is coming.

  1. No Refund Was Ever Owed — And Genie Has a Track Record of Doing the Right Thing

Refunds can only be issued when refundable money is actually received, but we do not know who this individual is. Beyond that, Genie maintained a perfect track record of issuing in full and timely refunds whenever requested and required—until this one force majeure event involving a failed third-party lender. Even in that case, after years of litigation with a highly qualified, former 12-year Financial Industry Regulatory Authority (FINRA) attorney,  members of management negotiated settlements that, if fulfilled by the failed capital provider, will result in all viable parties being made whole. That is not avoidance—that is leadership and responsibility in action.

  1. Genie Operated with Integrity, Oversight, and Results

Management at Genie has spent decades building a reputation in capital markets and technology as disciplined, competent, transparent, and accountable business leaders. Their companies are legally compliant, from any formations through any dissolutions, and well represented by experienced legal counsel in all transactions performed throughout the course of business. Although Genie and its management have been personally mischaracterized, they have no history of misconduct,​ complaints, or ethical violations. This attempt to stain their names with lies and distortion will not succeed—and it will not go unanswered.

FINAL NOTICE

This post is fraudulent, defamatory, and actionable. Anyone who republishes or shares this content will be deemed legally complicit and may be included in the legal proceedings now in progress. We strongly encourage readers to evaluate the facts: this post comes from an anonymous, unverifiable source and contains zero evidence—no contract, no receipts, no communication records. In contrast, Genie and its management personally remain fully transparent, verifiable, and professional in all regards.

Justice will be served. And accountability will be enforced.

Respond to this report!
What's this?
Featured Reports

Advertisers above have met our
strict standards for business conduct.

X
What do hackers,
questionable attorneys and
fake court orders have in common?
...Dishonest Reputation Management Investigates Reputation Repair
Free speech rights compromised

WATCH News
Segment Now