Princmill Enterprise Trust, Lindell Ritzie And Tramaco Jones HWJS - How Would Jesus Scam Me? Charlotte North Carolina
In 2008 I was approached by Kelvin Bailey. He represented the Princemill Enterprise Trust. The officers of the Trust are Tramaco Jones and Lindell Ritzie. Mr. Bailey came to me and stated the Trust was at a standstill in their attempt to purchase a commercial strip mall in Knightsdale, North Carolina. They needed $80,000 to supplement and complete the other investments made by five other investors for the down payment towards the mall. After I performed my due diligence, I made the investment. The return was due and payable by November 1st, 2008. Since that date, the group has promised a payout date four times: November 1st, November 15th, December 19th and now January 7th.
The other investors and I are now concerned that we may be the victim of a Ponzi scheme-type scam and we are very concerned that we are not going to get our principal nor our promised interest from these folks. After numerous promises, they always have a reason why our money is not going to get paid to us. These are the reasons they have given us:
1) Nov. 1st: You won't get your money today because the bank wants us to include other deals we are working on in one loan. You will definitely get your money Nov. 15th.
2) Nov. 15th: You won't get your money today because the bank might not let us purchase the mall. The bank has told us we will close Dec. 1st. All accounts will be settled then.
3) Dec. 1st: The bank just told us that we have to wait 45 days before we can close. All accounts will be settled December 19th.
4) Dec 19th: The bank just told us they won't release the funds until January 7th, 2009. All accounts will be settled then.
Do you get the picture? In other words, despite our written contracts, these folks have not paid us out. Most of the investors are afraid to make waves in that way deer in headlights don't know what to do when a car is about to trample them, so they keep saying, it will be alright. God will take care of us. These are men of God. They wouldn't scam us.
In my frustration, I am writing this to warn other people away from this group. Don't accept any charity from them in the name of religion or good works and don't give them your money. (Remember, the victims of Bernard Madoff's Ponzi scheme include charities who received funds from his investments.) My attorney is starting the Federal lawsuit process in anticipation of their failure to perform January 7th, 2009, and we also have an appointment to see the FBI in person to file a formal report. I truly believe this is a form of Ponzi scheme and I am patiently waiting for my fellow victims to figure this out.
If anyone else out there has been a victim of this group, please contact me so you can join the lawsuit.
Oh, the Jesus thing, these folks approached me with the idea that the blessings from these investments would allow them to "bless" people in need, i.e, churches and homeless children. At the end of the day, it's just another racket to get money from people who have faith in the impossible so the scammers can purchase expensive homes and take trips across the country, which is what they are doing. I'm sick to my stomach but trying desperately to go through every legal means to get my money back.
Iknownow
King of Prussia, Pennsylvania
U.S.A.
1 Updates & Rebuttals
Iknownow
Irvine,California,
U.S.A.
The Princmill Enterprise Trust
#2Author of original report
Sat, January 10, 2009
The earlier post was written on December 19th, 2008. Today, I spoke to Lindell Ritzie and Kelvin Bailey of The Princmill Enterprise Trust. Communication had completely broken down between both sides after the December 19th deadline came and went. However, before my attorney began legal action, Kelvin Bailey spoke to me and asked me to wait until January 7th, 2009 with the thought that everything would be resolved. After the January 7th deadline came and went and neither I nor any of the other investors had received any funds, I requested a phone meeting with The Princmill EnterpriseTrust. Lindell Ritzie apologized for the lack of communication and explained that the dates kept changing to receive our funds because of the banking process. He promised to keep me informed of the progress, good or bad, and give me daily updates of the status of the investment. He did not give me another date because the financial institutions that are handling the investments have not given them a firm deadline, only that we would receive our funds some time by the end of January.
Even though I still do not have details to verify the new information that I was given, I have decided to trust the process a while longer and I have requested that my attorney not proceed with legal action. Up until this communication with Lindell Ritzie and Kelvin Bailey, I believed one hundred percent that I was the victim of an elaborate con. The lack of accurate information, the lack of paperwork I requested and the lack of contact informaton to verify this investment process and the overall feeling of evasiveness has caused intense anxiety for me. So I would have to say it is taking a tremendous amount of faith for me to halt the legal process that I started. But in faith, I have halted everything.
This evening, Lindell Ritzie called me to explain that the bank they are working with found the earlier posting and that the post has completely derailed their funding process. I offered to call and speak to the banker and explain. I also offered to let my attorney communicate with the bank so that they would understand that the Princmill Enterprise Trust principals and I have spoken and that I have agreed not to proceed with legal action and that the Trust has agreed to stay in contact with me and has also assurred me that I would receive all of my principal and interest per my contract and have all verbal agreements honored as well as damages caused by the lateness of the return of my investment. In other words, communication has resumed. The Trust informed me that simply updating my earlier post to reflect our conversation would suffice and that neither I nor my attorney needed to speak to the bank. I would like the bank official who has stopped the funding process to call me or my attorney directly so that they can verify this. They may call (((ROR redacted))) and leave a voicemail and a reference. I will update this post upon the receipt of my promised funds.
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