Complaint Review: Jefferson Hills Golf & Recreation Center Inc.

This corporation's selling practices are  fraudulent because they use bait and switch sales tactics by making promises and providing something other than what they have promised. They  don't give accurate information or documentation about the health and financial status of their corporation and overstate the potential of a return on investment in their shares.  

Their scant bylaws allow them to sell shares at a higher price than stated  therein, make assessments on shares beyond that stated in the bylaws, hold special meetings  knowing all of the shareholders can't attend and then recover shares from investors if an investor refuses to pay the assessment. They have, for several years, operated in the red failing to make sound financial decisions about their operating budget. Thus, they have placed a financial burden of maintaining solvency on the shoulders of their stockholders then spend more money for unnecessary construction projects.

Several years ago when asked to assist in selling my shares (because of a lack of ROI, low value of the stock, and their assessment practices), the golf pro said the shares had very little possibility of sale, that numerous shareholders were also trying to sell their shares and that he would put my shares up for sale. This followed a his previous false claim that the stocks had increased in value. Attempts to sell the stocks brought no results.

I put the stocks on eBay and received no bids. When I demanded that the corporation purchase these shares back from me, they refused. I am not the only stockholder dissatisfied with them regarding these assessments. Approximately one quarter of their stockholders refuse to pay these assessments.  I suggest someone look into their bookkeeping and accounting practices as they may very well be cooking their books.