NL Walker Associates, Norell Walker, Dustin Edwards Penny stock ripoff Los Angeles California
This is a scam operation. I was approached by Jay of NL Walker Associates with a stock offer for a company that had ostensibly hired NL Walker and Associates for publicity purposes. Subsequent to Jay, my contact was Dustin Edwards whom I believe resides at (((REDACTED))). They enticed me to invest with offers of additional restricted shares and postured as if they had a life line to company execs. They represented that they did not get paid until the stock reached $5.00 per share and indeed the stock had a brief impressive run, but the quid pro quo on the deal was for investors to stay in until a viral campaign in mid-February. Mid-February comes and - poof! - the phones are shut down and the company disappears. Clearly, the principals were shorting the stock while representing the opposite. My subsequent reserch indicates that Mr. Walker is also listed as CEO of the shell corp for the stock, so it would appear they simply acquired the rights to an existing ticker and initiated their scam. These guys are bottom feeders, the lowest of the low. Stay away from them.
2 Updates & Rebuttals
Anonymous
Internet,Other,
Additional name in NL Walker scam: Jay Schroeder
#3Author of original report
Thu, March 13, 2014
I have discovered the last name of the individual who first contacted me from NL Walker & Associates in the UMAX scam: Jay Schroeder (spelling uncertain). Jay advised me that he lived in LA.
Phil
Minnesota,Similar Experience
#3Consumer Comment
Fri, February 21, 2014
I had a similar experience with this company. I was contacted by a Luis Mya, multiple times. He basically called every week to give me a progress report on the stock and what they were doing. The stock did have a nice run for a while and then plummeted. As part of their approach they advocated that if you purchased a certain amount of shares the company would bonus you some shares, with the limitation that they needed to be held for at least one year. At that point they said they needed the social security number to get to the company for tax purposes. At that point, I held off on giving them any information and contacted UMAX directly to dicuss the bonus stocks. The answer I receved from therir executive was that they said that NLWalker and Associates was a stockholder as well and he had no control or agreement with them to promote the stock. He then did indicate that he was going to be doing something, like a private offering shortly and was looking for some investors. The whole thing getting pretty schetchy. In any sense, by this time, the stock plummeted and NL Walker disappeared. I had multiple phone numebers for them, but all of them are disconnected and they vanished. Their whole approach was that they were hired by UMAX to promote the stock and push it to $5.00, or something like that. It did perform well for a chort period of time. When it started to drop, their appraoch was that some investors are just taking profits and nothing to worry about. I am not sure of the involvement with UMAX on this apparent scam.