Tahoe Resource Group Jack Schwartz Scammed me out of $11,250 in IRA funds to a bogus investment scheme Reno, Nevada
My own brother ripped me off. Tahoe Resource Group. 9 months ago, I sent Jack Schwartz $6,250 in a capital contribution from my Ira funds towards his venture group Tahoe Resource Group and was promised a handsome return. My friend also sent him a capital contribution in the amount of $5,000.00 from her IRA funds. Neither of us has ever received a statement of earnings or an IRS form stating where this money went. The website states :Tahoe Resource Group (TRG) is a Private Equity Firm that deals in two of the earth's most valuable resources: Gold and Petroleum Products. In the Petroleum Trading Sector TRG creates sales of Jet Fuel, Gasoline and Diesel between Refineries and Distributors to end users such as Airlines and Utilities, as well as well-funded resellers. TRG's role in engaging Sellers and Buyers in both long-term contracts as well as spot purchases of petroleum products results in lucrative commissions that offer extremely high return on investment.
I have been asking my brother to cash me out since January and so has my friend.
He refuses to send our money back or be accountable in explaining where the money is. He is a lawyer in Reno, Nevada. The actions on his part constitute some very serious offenses. My understanding is that he has done this same sting operation on other parties over the years. He has a bogus company online, is a total scammer and steals people's money. It saddens me to have to write about my own brother in this format. I do not know what else to do in order to recover my money as well as my friends money.
3 Updates & Rebuttals
Jerry
Reno,Nevada,
United States of America
Please contact me.
#4General Comment
Mon, November 01, 2010
I have filed a complaint with the State and will meet with an investigator next week. I am trying to compile the names and contact information for as many others that have been scammed by Jack that I can find. If you are willing to be contacted by the investigator, please send me your name and number and if you know of any others, I'd appreciate that info. My name is Jerry (((REDACTED)))
CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.
Ken
United States of AmericaScammed
#4Consumer Comment
Thu, September 30, 2010
Jack "The Scammer" Schwartz is a low life POS. He also swindle money ($6,000) from me for his bogus venture capitalist company as well. Yet I can only blame myself for not doing the proper due dilegence... Live and learn... Here is his home address and an article about him complaining on water rights and his property. I did go to Andrews Lane but couldn't find his house. The house where he might have resided looked like it had been abandoned. I did not interview the neighbors about him. If you want to persue a legal complaint with the police, IRS, FBI, Lawyer's Bar and others let me know. I'll provide my docs as evidence. I personally am not going to soley file a complaint with the authorities.
JACK SCHWARTZ ( ) SIERRA HIGH TECHNOLOGY GROUP 430 Andrew Lane Reno, NV 89521
http://www.newsreview.com/reno/content?oid=22245
Gary
Reno,Nevada,
United States of America
Also scamed by Tahoe Resource Group LLC
#4General Comment
Thu, September 16, 2010
It appears that I am another victim of Jack Schwartz to the tune of $50,000.
I met him through tennis and found that we had a common high tech background. Over time he convinced me that his company was a good investment and long term he would form a venture capital fund to help promising local entrepreneurs.
He has not returned phone calls and now his web site is disables. I live in Reno and am trying to locate him in person. If anyone has his address I would appreciate the information.