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  • Report:  #200071

Complaint Review: Innovative Financial Services - Rod Rieman

Innovative Financial Services - Rod Rieman Uses Community Christian Church To Run Affinity Con Innovative Financial Services ripoff Oswego Illinois

  • Reported By:
    Naperville Illinois
  • Submitted:
    Sun, July 09, 2006
  • Updated:
    Tue, June 21, 2011
  • Innovative Financial Services - Rod Rieman
    607 Salem Circle
    Oswego, Illinois
    U.S.A.
  • Phone:
  • Category:

Mr. Rieman has been using his leadership position at Community Christian Church in Naperville, IL as leverage in his affinity con.

This is how the SEC defines affinity fraud:

Affinity fraud refers to investment scams that prey upon members of identifiable groups, such as religious or ethnic communities, the elderly, or professional groups. The fraudsters who promote affinity scams frequently are - or pretend to be - members of the group. They often enlist respected community or religious leaders from within the group to spread the word about the scheme, by convincing those people that a fraudulent investment is legitimate and worthwhile. Many times, those leaders become unwitting victims of the fraudster's ruse.

His activities have been reported to church leaders but he remains in his leadership role.

Dave
Naperville, Illinois
U.S.A.

3 Updates & Rebuttals


Scott F.

Chicago,
Illinois,
USA

Rieman arrested on criminal charges!

#4Consumer Comment

Tue, June 21, 2011

Investment Con Artist, Roderick James Rieman was indicted on mail fraud charges in connection with defrauding more than 100 investors of more than $5 million in a Ponzi-type scheme, federal prosecutors say.

Roderick Rieman, 66, of Geneva, and a partner, Michael Crook, 52, of Los Angeles, were indicted April 6, 2011 of 10 counts each of mail fraud by a federal grand jury. If convicted, each count of mail fraud carries a maximum penalty of 20 years in prison, a $250,000 fine and mandatory restitution. 

The U.S. Attorneys Office for the Northern District of Illinois said the two created four companies between 2004 and 2007, took money for investing in them, overstated and misrepresented their value and return, then used money from new investors to pay older ones, according to the indictment.

Rieman said he was was a director of Z Touch Systems Inc., Global Payment Solutions Inc., Bluko Information Inc., and Smart Restaurant Solutions Inc., all based in Las Vegas. 

The companies were supposed to create interactive kiosks, software for making restaurant reservations and pre-paid debit cards. For example, for Z Touch, the interactive kiosk was called ODIEs, On Demand Interactive Environments, according to the indictment.http://206.18.146.25/rfcViewFile/11cr269.3.pdf
Rieman misled prospective investors and investors by telling them such things as: Bluko and Z Touch had contracts with the U.S. military and with Habitat for Humanity, according to the indictment. Morgan Stanley was going to take Bluko to the promised land and the U.S. had purchased a large number of ODIEs for use by soldiers.

Filed in the U.S.District Court, Northern Illinois is case # 11CR0269

Rieman can be found here:
1514 Kirkwood Dr
Geneva, IL 60134

ph: 630-660-2223

If you are a victim, contact:

Info on U.S. Atty handling case 11CR0269

Edward G. Kohler 
United States Attorney's Office (NDIL) 
219 South Dearborn Street 
Suite 500 
Chicago, IL 60604 
(312) 353-5300 

Rieman and his son Brian, through his Innovative Financial Services, Inccompany, bilked 100s of victims (mostly retired senior citizens) out of their retirement funds and equity in their properties, to buy into 2 Ponzi schemes:

Resort Holdings / Universal Lease in Cancun, Mexico.  Amount of Ponzi - $550 Million.

Michael E. Kelly, creator of this Ponzi, has been sitting in a Federal jail for 4 years while awaiting trial. He is trying to sell his properties to make restitution to his 9000 victims.


Ad Toppers, Douglas Network, Unlimited Cash of Los Angeles, CA.  Amount of Ponzi - $26 Million

Nancy Carol Khalial, creator of this Ponzi, is out of jail on $50,000 bail waiting for her trial to start. There are approximately 700 victims in this Ponzi.

Many of Rieman's investors were members of the Community Christian Church in Naperville where Rieman attended. Rieman now attends Riverside Community Church, 37W130 Crane Road, St., Charles, Il.


George

Wheaton,
Illinois,
U.S.A.

Where Has Our Money Gone?

#4Consumer Comment

Thu, July 27, 2006

Rod Rieman and his company have STOLEN money from over 150 different families. The NEW contact number you should use to find more information about the Innovative Financial SCAM is 630-608-0069


Brian

Naperville,
Illinois,
U.S.A.

Rieman cries "Poor me, I lost money also"

#4Consumer Suggestion

Mon, July 24, 2006

Rieman cries "Poor me, I lost money also"

Rod Rieman of Innovative Financial or Innovative Financial Services,Inc keeps promising me he will get me the money I lost from Douglas Network Enterprises. Then he cries about how much money he and his family lost with DNE.

Lies... I found out from the S.E.C. (the United States Securities and Exchange Commission)that Rod Rieman was paid over $1,000,000 in commissions from DNE. The figure is more like $1.2 million.

When the auditing of DNE is completed, we'll be able to see how much Rod Rieman and his family invested in and lost with DNE. My guess is ZERO.

If you received a letter in April '06 from the S.E.C. about DNE, then you know whom to contact about this information.

The best bet right now is to inform all the people you know who was ripped-off by Roderick Rieman and Brian Rieman to call the Illinois Dept. of Securities.

"Men never do evil so completely and cheerfully as when they do it from a religious conviction."

"His activities have been reported to church leaders but he remains in his leadership role."

Have you talked to the Pastor of your church about Rod and Brian Rieman and explained the seriousness of his activities? If the church lets him maintain his "leadership roll", then Rieman must have "tithed" his income to the Church... thinking that if he tithes big sums, he will be forgiven.

Remember, he's a smooooooth talker and I'm sure he has made MANY contributions to the church and most likely has bought his friendship with the pastor.

If it was my church and Rieman wasn't booted out right away, I'd tell every one I know about the Riemans and what they did with my retirement account, HOW THE RIEMANS USED THEIR POSITION IN THE CHURCH TO CON CHURCH MEMBERS INTO BUYING RIEMAN'S ILLEGAL SCAMS FOR THE RIEMAN'S PERSONAL GAIN, how Rieman gave financail advise illegally, and how the church will do nothing about it. Then I would leave that church pronto. The church needs your contributions also. My god, who would want to belong to a church with the likes of Rod Rieman in its membership????

How can Rod Rieman go to church every Sunday and face the people he illegally gained from? And how can YOU go to church every Sunday and look at the Riemans?

"The world is a dangerous place to live, not because of the people who are evil, but because of the people who don't do anything about it"

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