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Seems like people are starting to come out of the woods with WAM. I like that, "wam-scam" quip - very funny. It seems with what's been posted over the last few days isn't enough to convince anyone really of what they're up to. Here's a thought: Contact them yourselves, jump through all the hoops and see what happens.I don't think anyone here has posted a success story because maybe there just isn't any.
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Interesting article in the paper today about a former NLF player that was arrested on 3/18/08 on fraud charges, (2.5M) promising to secure lines of credit against someone elses money for construction projects. This was sent to me from someone who is familiar with what is quicikly becoming known as the 'wam-scam' or 'wam bam-f-you scam' as I've seen on other boards around the web. The sender tells me that one of Joel Griffing's most recent lines of horseshit is that he's buying a bunch of realestate (with other people's money, of course). He presents as IF he's going to buy it then in turn is looking for deep pockets to give HIM money to put his deals together. I've learned that he's been stringing along a bunch of people for quite some time and has a pretty good 'front' going to support it. Slippery as an eel, I'd say.
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I have been working a reno of a city in Georgia...a loan Broker Mainsail out of Florida is the person who placed the owner of the property involved in this group....they have to my knowledge collected some $6,000 bucks and I have talked to about ten or more people at the WEP World Equity Partners, and the Hyperion Group about the funding which was supposed to occur today...what I fail to understand is what is the game? I mean with a dozen people involved how much could they make with all the offices and all the people involved and yet no one has received any more that $6,000 even it the total colected amount was as much as a $500,000 it would appear to me that for $50,000 why bother? Why go through all of this ?
LSB 27 |
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I have talked to several of their people and can not find the catch the owner of our project has sent them some $6,000 for the fees up front on the project he is doing however with at least 10 people involved I just do not see any money in this for them.....
A loan Broker in Florida Mainsail was the person who placed our guy in the basket.....today the funds were supposed to be in place and no funds ...so who knows but I still do not see the money for this they have web sites and a huge amount of paper work to fill out and we did all of that ...any one know what gives? LSB 27 |
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I'm looking at this for a client and I am also uncomfortable. Did you go any further with them? Attorney in Orlando
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I to know this project and the group working on this project and they have not put out $6000 but rather had it set for collection at the time of closing and I have also had dealings with LSB 27 in the past and he is a whiny Harvard grad with nothing better to do then to point fingers. It is people like him that cause projects to fall apart because people get sick of hearing their conspiracy theroies. If you were to interview him I am quite sure you'll also find out that he is such an important person that several secret branches of the
government is out to get him because he knows to much.Quote:
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I have read a lot of the posts here because I was considering putting in my project. It appears only a $6,000 risk is manageable, but I sure don't want to throw it away. Is there really any definitive evidence that this is a scam? I understand one of the posters lost $17k in dinners plus the $6k in cash. That doesn't make it a scam. What it makes it is a guy getting a lot of free dinners that ultimately could not deliver at worst or a client that could not be funded at best.
I read the links explaining the fraud and that certainly seems to fit the bill. Conversely no one that we are aware of has been really scammed save the dinners. So if anyone can help me with some concrete answers I would appreciate it. I continue seeking alternative financing while I decide what to do on this Thx |
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