Complaint Review: United American Ventures - Internet
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- Author Not Confirmed
- United American Ventures 1920 Main St., Suite 800 Internet United States of America
- Phone:
- Web: http://www.unitedamericanventures.c...
- Category: Brokerage Companies
United American Ventures UAV Ponzi Scheme Internet
*General Comment: All Is Not Lost
*REBUTTAL Owner of company: Re: Investor
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Mwife and I invested in UAV after attending a "Seminar" given by them in the 2008 time frame. A red flag should triggered in our minds when they were listing all these supposed successful pharmceutical companies that they had listed in the NASDAQ which I and other attendees have never heard of before. The worst part of this seminar was that they were telling the attendees that did not havecash to invest to actually take out loans for the UAV investment. Their premise was that the returns of 25% would easily cover the interest on the loans. I later found out that for each investor that was referred to UAV for investment that the person/company that made the referral would get at least a 10% referral fee.
It amazes me that Eric Hollowell, an ordained deacon, can still write to his investors telling them that the SEC findings are a lie and that he is working deligently to turn around the company.
After reading the SEC Report on UAV, my wife and I have accepted that UAV is a fraud and all of their investors including us have been defrauded out of a significant sum of money. We take the blame to the extent that we broke our cardinal rule of if something sounds too good to be true-it is too good to be true! Fortunately we both make a good living so we will be able to absorb this financial hit but feel bad for the multitudes of investors that had to take out loans or life savings to invest in this fradulent comapany.
Eric Hollowel and his associates like Bernie Madoff should do some prison time for their fradulent and reckless deeds; maybeMr. Hollowellcan preach to the inmates while he is in prison!
***Please read the SEC Report if you are thinking of investing in UAV****
This report was posted on Ripoff Report on 01/16/2011 08:07 AM and is a permanent record located here: https://www.ripoffreport.com/reports/united-american-ventures/internet/united-american-ventures-uav-ponzi-scheme-internet-683212. 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
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#2 General Comment
All Is Not Lost
AUTHOR: totalbob - (United States of America)
SUBMITTED: Sunday, January 16, 2011
I would first like to say, don't give up on Mr. Hollowell, he is working 24/7 to right awrong brought on by our over zealous SEC lackeys who after being taken to the "wood shed" over the Madoff nightmare!
You should direct your anger towards the SEC, they are the ones that areoverstepping the bounds of what is fair, ask yourself this, if Mr Hollowell was trying to run a scam, why would he be fighting this and working from sunrise to sunset and going through all his savings? Don't you think he would of fled to some island with millions in ill gotten gains?? No, he is standing and fighting the SEC so you and the rest of us who invested will reap large returns!! I, as an investor has a lot riding on Mr Hollowell's success, so support him in his fight and you'll be glad you did!!
on the line, and I
#1 REBUTTAL Owner of company
Re: Investor
AUTHOR: totalbob - (United States of America)
SUBMITTED: Sunday, January 16, 2011
First of all, I am sorry you feel like you have lost your investment, but the oneyou should be blaming is not Mr. Hollowell, but the SEC itself! Ever since being "taken to the wood shed" by Berine they are on a witch hunt and sadly they are impeding the good guys in their sweeps! If you really knew what has been going on behind closed doors you would realize you have directed your ill feelings towards the wrong person!
Eric is working 24/7 trying to keep things going.Do you really think if all what the SEC is a accusing him of doing, he would still be here trying to fight instead of living in some island with your money hidden?? Use your common sense before you answer that !!
Don't feel like your investment is lost, just on hold till the SEC gives up ,when they realize they have wasted tax payers money (that's you!) . I have a lot riding on the success of this company and Mr. Hollowell, and I am not losing any sleep over it!! You should concern yourself with how your gov is ruining your investment!
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