Richard Hersch - All States ATM - Gregg Knee - Jim Bailey These rats stole 80,000 of my invested life savings in their ponzi scheme. San Diego California
All States Atm Inc. is supposed to be a check cashing company for people who prefer not to cash their checks at a bank. The company was said to be multi-faceted with venues nationwide.
The main source of profit for the company was supposed to be coming from "the back side" of the Southern California horse racing circut. Many of the behind the scenes workers, ie; stable hands, walkers, workout riders, etc., would use All States Atm to cash their payroll checks, as the company said it recieved "another" 5 year contract with the racing association to do so.
They say they have only 400 investers, charge 9% to cash checks for their clients, and pay 5% a week, per investment, for 48 weeks back to their investers. They payed the 5% return for a couple months right up until you invest more of your money, and then they stop all together, send you bad checks, and then just don't respond anymore.
The punks in charge are Richard Hersch, Gregg Knee and Jim Baily. Their are more involved but need to investigate them more to see the extent of their involvement. Don't know if I'll ever see my money again but I sure would like to run into these pricks on the street or at least know their behind bars.
Zas
Lake Havasu City, Arizona
U.S.A.
3 Updates & Rebuttals
Jlp909
San Bernardino,California,
U.S.A.
Richard m Hersch Pleads Guilty in San Diego California
#4Consumer Comment
Wed, November 18, 2009
Richard Hersch Plead guilty to 2 charges 1. Mail Fraud 2. Tyring to Defraud the IRS ( 2nd Time) . The guy will be put away for the rest of his life . He probably only has 5 more years in him lol.
Jlp909
San Bernardino,California,
U.S.A.
Richard M Hersch in Federal Custody !!!
#4Consumer Suggestion
Sun, May 10, 2009
Richard Hersch and partners are now in federal custody.
Zas
Lake Havasu City,Arizona,
U.S.A.
All States Atm inc., Richard Hersch, Gregg Knee and Jim Baily
#4Author of original report
Fri, April 03, 2009
I have been informed that Jim Baily was just another victim of this scheme and had no knowledge of what was really going on. As this information comes from one of Mr. Baily's relatives that I know personally, and who's integrity I respect, I must consider it as fact.