Quote:
Originally Posted by GRUFF78
Here is the public announcement in a nutshell:
At least 25 (so far) customers were robbed of their engine deposits and/or parts going back at least 3 years with no product or service to show for it. Many 100's of thousands of dollars. The owner was effectively operating a Ponzi scheme and was assuring customers that everything was good up to 3 days before he stopped answering the phone, emails and disappeared.
That is the bottom line announcement.
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That is bad news and not what I would have expected from the firm. Businesses prosper and businesses fail but Ponzi schemes are intentional and literally criminal.
If the representation is true then I have no sympathy for the business owner(s) who seduced unwary buyers by using an industry good name to inspire confidence that they were engaging in a fair value for value exchange from a reputable provider.