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Report: #1269847

Complaint Review: Wealth Masters International - Sugar Land Texas

  • Submitted: Mon, November 23, 2015
  • Updated: Thu, February 25, 2016
  • Reported By: Jay — Middleton Wisconsin USA
  • Wealth Masters International

    Sugar Land, Texas
    USA

Wealth Masters International Vertical Legacy, Kip Herriage, Karl Bessey lie, ripoff, scam, bankrupt, broke, ruined Sugar Land Texas

*Author of original report: Additional Scam

*Author of original report: Trying to Claim

*Author of original report: FYI

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I purchased a cheap software program called the Income Infuser. I had to buy some other cheap programs to make it functional. Program was garbage and had no chance of success. I then receive a phone call. He turns out to be a TOP seller for WMI. WMI is run by Karl Bessey & Kip Herriage. He tells me Income Infuser is junk and never going to work. I need to get into another company if I really want to make money. Watch this video. Turns out to be a video living the good life. Everyone in it is an owner of top seller. It is a computer business software. It is how you set up and run your business. Still not clear what we are selling? Many meetings and conversations with daily homework but you can't go faster than they let you. They have a 120 day training program. (They pretend the businesses aren't connected but as I find out they are; basically they are bait and the more difficult program you do the more expensive (high quality) lead you are to them)

 

The other company is $199 per month plus Aweber for $19 per month. The $199 gets you a back office and a generic website to sell this business. After about 20 days or so and a large conference call w/ others (the typical pyramid scheme set up almost seems like a cult speech) comes the WMI push. You need to be M3 or people leap frog you and you lose out on commissions. It is the only way to make substantial money and quickly they say. M1= $1700; M2=$9000; M3=$12500. Without those you cannot make any money. I didn't have the money so didn't matter. They ask my credit score which was 800 at the time. He says we have the solution. We have a lending partner who does business loans. Oak Tree Financial. Turns out the two owners are coaches at WMI (didn't know it at the time). I figure if someone gives loans to these guys it must be pretty successful or they would be broke. So I apply and get approved. Jeremy Lawson calls me. I end up approved for $35000; (process and finance fee=$1750). Great you even have extra to help with marketing and to buy shares in the Sales Partner Program. For people like me that is why they have the SPP. Until I am up and making money myself they do it for me.

 

A female calls and says I should buy 8 shares($4800). This typically brings in about $19,000. I end up receiving 3 credit cards in the mail w/ a 10k, 11,500k, and 12,500k. No interest for 18 months. I am like whoa credit cards I thought I was getting a loan? I get cold feet. They come at me with I will get you 2 M3's but don't tell anyone I told you that I will get in trouble. This makes me feel better because that should be about 12-14k. I am already out a good chunk of money so I feel I better go for it. I never get even 1 M3 and the two people who are with me have a total of 15 shares in the co-op and manage just 2 sales. They stop paying me commissions and rolling it back into the company and in the end I don't get my final $2500 of my co-op shares. I spent the majority of my time nailing them for used leads and coaches who are paired with my leads but don't even work for them anymore. Turns out my best leads that I get charged for are supposed to be people like myself who bought Income Infuser and other (work from home internet programs) cheap products that don't work.

 

As everyone starts complaining and getting upset, WMI and the partner create a rift and WMI blames the other for the shortcomings. I did everything required at an amazing level and made $0. They create a company called Vertical Legacy/Vertical Rising. This is the savior and to fix all of us who got screwed in the last endeavor. I work my butt off and this is useless as well and goes under quick.

 

I had to get out as I couldn't make monthly payments anymore. They are ruining lives and families. If this was me stealing/scamming others I would be in jail by now. WMI was a MLM (claim they were not) and Oak Tree is not a financial institution unless somehow we allow people to act as a loan agency and they dole out credit cards. $1750 in servicing fees for 3 credit cards? How does one even get access to that kind of credit that quickly? All of the people involved in these companies actually have a vested interest in Oak Tree it was actually an idea that came out of the scam I am sure to give more people the ability to access these ridiculously priced scams. The original address when I complained first and worked with them was. Oak Tree Financing, (DBA) 373 Waitman Rd, Lexington, NC 27295 USA Now it shows California.

 

I have filed complaints with Consumer Protection in Utah, Texas, California, Arizona, and Wisconsin. The BBB in Texas, Utah, Arizona, and California. The Internet Crimes Division, Comptroller of Currency and the FTC.

 

Jason, Middleton, WI

This report was posted on Ripoff Report on 11/23/2015 01:40 PM and is a permanent record located here: https://www.ripoffreport.com/reports/wealth-masters-international/sugar-land-texas/wealth-masters-international-vertical-legacy-kip-herriage-karl-bessey-lie-ripoff-scam-1269847. 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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#1 Author of original report

Additional Scam

AUTHOR: - ()

After Wealth Masters these top WMI fraudsters opened Vertical Legacy/Vertical Rising proclaiming this would get everyone back to even. Once again those who could afford it were easy money for the top WMI people and the rest of us got screwed again. Another hit and run.

Vertical Legacy operate in the blog network MLM niche and for all intents and purposes, appear to be an offshoot of Wealth Masters International.

Vertical Legacy is a natural extension of the vision that first began, when in 2005 Kip (Herriage) and partner Karl Bessey founded industry leader Wealth Masters International.

And you can add Wayne Allyn Root, Cathy Werking, Peter Bielegus, Per Gunner, Ryan Nelson, all helping WMI and then sticking it to people one more time with VR/VL.

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#2 Author of original report

Trying to Claim

AUTHOR: - ()

$19000 of the over $35000 scammed. All actions will be removed and actions stopped when completed.

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#3 Author of original report

FYI

AUTHOR: - ()

I spoke with the Federal Trade Commission and they stated actions against these guys take time and more complaints. I have submitted complaints to many agencies and they have basically all kicked them to the FTC. The more complaints the likely something may happen. go to ftc.gov to file.

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