Complaint Review: Infinity Investments

Busted by NBC

http://www.msnbc.msn.com/id/25576664/

Only a small number of new businesses that start up in the Valley each actually become successful in the long term. But in the case of one Valley woman, her business never even had a chance.

She had the idea and the start up money, but her dream is long gone.

Sharon Keter wants her money back - thousands of dollars. And she wants others to know what happened to her may be part of someone else's plan to take your money.

Infinity Investment Services Financial Officer Robert Herman: (hidden camera): "Well, here's what we do... basically, we're kinda like ah... a consultant company."

Struggling to explain what Infinity Investment Services is all about is not something you would expect from the chief financial officer. "They represented themselves as financial officers," Keter says of her experience with Infinity.

On the outside, the brick office has a look of prestige. High priced cars each with personalized company license plates suggest business is good. But it's what goes on inside the building that has some former clients regretting they ever stepped inside.

Says Keter, "They left me penniless. They took all my money."

Sharon Keter found Infinity Investment Services advertising on Craigslist.com. The company offers a plan to raise anyone's credit score. "I wanted to open a business," Keter explains. And to accomplish that Keter would first need a business loan. Infinity had a plan to help with that as well.

"I said it sounds wonderful," Keter recalls. "I paid them $10,000. Now I see everything was a lie."

We wanted to know what happened to Sharon's $10,000. Wearing a hidden camera, we headed inside Infinity unaware of what we were about to expose.

Damon Hill is the founder of Infinity and acts as CEO. We met with Robert Herman, the CFO. He explained to us the package he personally sold to Sharon.

Herman (hidden camera): "...so what they will do is add a trade line. And I don't know how it works."

"Adding trade lines to your credit report will not work," consumer credit expert Lisa Maria Broughton points out. "They changed the rules a long time ago. That company should have known that."

For over ten years, Broughton has assisted thousands of consumers and attorneys with credit law. "The credit trade lines added to her credit is not going to enhance her credit and it won't change her credit score at all."

Herman: "...and I doubled checked and tripled checked just to make sure that it is all legal before we did anything."

"If you are selling something that doesn't work, then you are selling fraudulent goods," Broughton points out.

Infinity has no license on file to do business in Clark County. Herman told us that the only problem in returning Sharon's money has to do with Sharon.

Herman: "One, she cannot read a contract."

We had attorneys read the Infinity contract over. Then we asked those attorneys if they would advise a client to sign it. Attorney Craig Perry, who specializes in credit law, called the contract "bizarre, ambiguous, and troubling."

He found several errors. In one place it states a "Federal Credit Act." Perry tells us that may sound familiar but in fact this name does not exist as an act or law.

Herman: "See right here it says if the party does not perform within a 60 day period the contract will be null and void."

This is where Herman explains his problem with Sharon.

Herman: "April 9th, May 9th, June 9th would be 60 calendar days. Read the contract: it's 60 business days, if we don't perform in 60 business days."

Mitch: "Actually, it says 60 days. Period. Not business days."

Herman: "....uh...it does say 60 days, but I talked to the attorney about it and things like that and I said we need to revise that to say 60 business days."

But that attorney who Herman claims also drafted the contract told us his office did not draft the agreement.

When pressed about the $10,000, Herman told us...

Herman: "My office gets broken into."

He claims a few items are now missing, including Sharon's personal information.

Herman: "...the only file that has anything is missing out of here is her file...(laughs)."

Sharon's banking information, driver's license number, and...

Herman: "...social security number, her credit report..."

Have all disappeared, according to Herman.

Herman: "Do you see it? Anywhere?"

But Herman neglects to mention anything about this in the theft report he filed with Metro.

Keter: "I didn't even know about it."

Mitch: "They didn't tell you?"

Keter: "Nope."

Sharon wonders why Infinity never told her. After all, that alleged theft puts her identity at risk.

We tried to speak with Damon Hill. He would not take or return any of our calls.

Mitch: "What's Damon's background?"

Herman: "Background?"

Mitch: "Does he have a resume?"

Herman: "Ah, well, we are working on that."

Mitch: "Any degrees?"

Herman: Any...well...here's what we do...."

Michele Johnson, who councils those with credit issues, has this warning:"They have a vested interest in making a sale. So they will say whatever it takes. And the chances of finding them a month from now, or six months from now is probably pretty slim."

Mitch: "Getting the money back?"

Michele: "Is probably impossible."

Sharon is not alone. A financial company in Oregon recently cut ties with Infinity. The reason? The same as Sharon's. The Nevada Attorney General's Office has begun an investigation. As for their 60 day money return policy, Monday, July 7 marks the 89th day and Sharon has yet to receive a refund.

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