Golden Kup Corporation Jeffrey Abatayo High-Yield Investment Fraud Queens Village New York

 I have also been scammed by Jeffrey Abatayo. I would like to file a lawsuit and hire a forensic accountant. I would like to gather as many people as I can, who have also been scammed by him, and file a lawsuit together. Please feel free to contact me at: scammedbyjeffreyabatayo@gmail.com. I have 2 more friends who were also scammed out of $50,000 and more. This man has got to be stopped. No one else needs to be scammed by him.

It’s been almost six months since my last update on our unfortunate experiences with Jeffrey Loreto Abatayo, the CEO of Golden Kup Corporation. Apparently after informing the Philippine Consulate of New York about Mr. Jeffrey Abatayo, word got around and he was confronted by the Filipino American Press Club of New York to his case with us. Even his membership with the Club was held in question because he is not a journalist and his “impressive” credentials did not check out. To cut the story short, he apologized to me on the phone on Feb 28th and requested to meet with me and my wife to settle this case.

We met Mr. Jeffrey Abatayo on March 8th with my wife, my good friend PV, and Jeffrey's daughter as witnesses. Mr. Abatayo insisted on an agreement stating that he will make good on all the Golden Kup Corporation checks and we will update this report to inform the public that the checks clear. In that meeting, he replaced all the Golden Kup checks from Chase Bank with the ones from Bank of America all the while reassuring us that he has funds on the new bank.

Later that month, we informed him of a due check. Just like before he asked us to wait for 2 weeks before cashing it in; despite the wait, the replacement check bounced as well. He then transfer funds to our bank account using Zelle to cover the 1st bounced check. Soon after, one by one, the checks had their due dates and each time, we asked Mr. Abatayo to prepare the funds so we can cash it in; and he would come up with excuses that the funds was not ready. Later we found out while he was telling us there was no money, he was receiving money from other investors. So we knew he lied.

Apparently, Mr. Abatayo did the dog and pony show on March 8th in order to get the signed agreement stating that this ripoff report case has been settled and he submitted that agreement letter to the Filipino American Press Club of New York to get his membership renewed. I am pretty sure the Press Club will not be so easily fooled by Mr. Jeffrey Abatayo's attempt at such a deception. In the same vein, I have high hope that other reputable organizations whom he has infiltrated, whose members have suffered in silence and who have been threatened by Jeffrey Abatayo, will step forward and take a stand. I hope some day they will also join me here with their own ripoff reports.

While the total lockdowns in NY and NJ were happening, my wife and I had several text exchanges with Mr. Abatayo to pay us back our due money. Other than making excuses that he could not pay, he also think he can just cancel all the checks whenever he feels like doing so. At one time, he said he will return only our principal money, not the checks amount, but even the principal amount he was not able to pay. Instead he demanded we retract our RipOff report (which of course was not possible) and he also threatened me that he will report me to my employer for investing with him. I am attaching the text messages from Mr. Jeffrey Abatayo in his own words for the benefits of other investors to show the great benefits they will receive when they give their hard-earned money to Jeffrey Loreto Abatayo.

It is now the end of July 2020, and many overdue Golden Kup checks remain unpaid. I will continue to update this report to expose the true color of Mr. Jeffrey Loreto Abatayo.

His many other faces can be found in his linkedin profile below.
https://www.linkedin.com/in/jeffreyabatayo

Jeffrey Abatayo was introduced to me through a common friend. He was presented as a smart
investor with a profitable high frequency trading system, and that he was offering his high-yield
returns to a selected few investors. As Asians, we gave him attention, respect and the benefit of the
doubt for being a Filipino entrepreneur. He was convincing enough and showed us his credentials.

He came to our home in April 2018 to present his high frequency trading program to me and my
wife. He seemed credible enough because he wrote us post-dated checks for the amount of our
investments plus the returns. And so our relationship with him started and we started investing by
giving him cash or checks payable to his Golden Kup Corporation. We invested our money at
different points of time, and in return, he gave us post-dated checks dated a year from the dates of investment.

Then 2019 came and most of the post-dated checks he gave us were due. So, we informed him that
we were going to cash in the checks. To our surprise he told us at first to postpone encashing them.
After several discussions and negotiations, it became obvious that he did not have the promised
written amounts. All the checks bounced! Only the very first check was successfully encashed after
months of pursuing him and tiring negotiations.

He even tried to convince us to keep reinvesting the money for many years to come to become part
of his Millionaire Boys Club (MBC) but of course, we refused. Then he said he cannot pay until he
find other investors to buy our "slots" which sounded like a Ponzi scheme to me. It was frustrating to us because we have three children, two of whom are in college and the other is our special needs child who requires a lot of expensive therapies and supplements.

Meanwhile, he kept boasting in our text exchanges that his system is worth $100 Million and my "small" investment is nothing. He is worth millions but he cannot pay our thousands. Our discussions were becoming incredibly funny and painfully irritating. As of latest, he tried to negotiate and promised us that all our money will be returned by 2020. At this point we don’t even know what to believe or to believe him at all.

I have hired lawyer to write him a demand letter for the bounced checks which he ignored. I have
also reported him to BBB.org which by far has produced nothing. I have reported him to the
Philippines Consulate in NYC where his name was listed in their Fil-Am business directory.

To further pursue the case, I have made a statement to Ripoff report to let the public know of his scam.
It is very painful to have been fooled by a professional scammer like Jeffrey Abatayo. Our money is
hard earned and that we have three children, two of whom are in college and one is a special needs
kid who requires a lot of therapies and supplementation.

We are not the only ones scammed by Jeffrey Abatayo and his Golden Kup Corporation. We have
in our circle of friends, 5 other victims of his scam. There might be more but I am sure most of them
are hesitant to come forward for fear that he will run away with all the money that he took. My hope
is that this report will encourage them to file here as well. I hope more victims will step forward after
reading this ripoff report. Most importantly, I hope that this report will serve as a warning to others. I
have attached 5 bounced checks totaling $46,500.00 since Sept 2019 to this report as evidence.

16-Feb-2020 UPDATE

Another check worth $4500 was bounced last week adding to the total overdue checks of $51,000.00. We have more future post-dated checks totaling  $72,300 signed by Jeffrey Abatayo under the Golden Kup Corporation name.  The grand total of the checks he had signed are $123,300.00. On 5-Feb-2020, he had texted me and my wife to "thank" us for submitting this ripoff report and to reiterate his promise to return all my principal money by end of February 2020. I have attached the bounced check and his timestamped text response here as evidence.