Wade Henderson IMM Financial Solutions, Inc Mr. Henderson committed a massive fraud by fraudulantly affixing the signature of others onto binding Agreements. Southfield, Michigan
We were
informed that Mr. Henderson represented himself to be a broker for an offshore
Hong Kong Holding Company seeking to invest in projects in the U.S. We
were told that the Holding Company would obtain irrevocable letters of credit
from a major banking institution which we could then take to a U.S. Bank
to monetize our project. This NEVER was true. The Holding Company
(which was owned by a California resident) had no assets from which to monetize
a letter of credit and the Holding Company, according to their COO never authorized
Wade Henderson to execute any agreements for funding projects (Henderson fraudulently
affixed the COO's digital signature to our contract and 29 others as well collecting in excess of 7 million dollars in escrows, and we executed those agreements in early
Novermber, 2009). These documents included an escrow through Merrill
Lynch, with a New York attorney being the escrow agent. We had a
conference call with those people to verify that they were real.
After the documents were executed we requested verification of prior sucessful deals and/or irrevocable letters of credit having been issued in deals consummated by the Holding Company, no such verification ever materialized.
The entire transaction turned out to be a sham and fraud. Wade Henderson had created all of the documents and executed all of the documents without the permission of the funding source. He had formed a relationship with the Chief Operating Officer of the Holding Company to open an escrow for the payment of finders fees but never obtained the permission of the Chief Executive Officer of the Holding Company to conduct business. By November 24, 2009 the fraud had been uncovered and the CEO had the COO of the Holding Company was instructed to fax a Cease and Desist Letter to Mr. Wade Henderson on Nov. 24, 2009 because, as the COO wrote: On Nov. 22, 2009, one of Mr. Wade Henderson's client contacted the CEO, and showed formal documents signed with my digital signature for the Company. Till that time, I just knew Mr. Wade Henderson sent documents to his clients. Before he sent out those formal documents, he didn't send those documents to me for signing, even he didn't inform me he will send those documents to his clients. When I saw those signed formal documents, I was same surprised because I NEVER GAVE ANY POA TO MR. WADE HENDERSON TO SIGN ANY DOCUMENT WITH MY SIGNATURE AND COMPANYS NAME. This is a direct quote from the supposed signatory to our funding agreements.
Thereafter on December 12th Mr. Henderson signed the following document requested by the CEO of the Holding Company admitting that he committed fraud:
This letter is my statement to acknowledge the fact that (name) the Chairman, and founder of (name) Holdings Group Ltd a Hong Kong China Corporation, who's address is Hong Kong China had no knowledge of the business related to the escrow open with the Merrill Lynch, Pierce, Fenner and Smith incorporated, of New York USA, account number # 656-17xxx that was being conducted by me Mr. Wade Henderson of IMM Financial Solutions Inc and the COO of Holdings Group Ltd. There were a number of other transactions not to be named at this time, such business being conducted for a period of time close to seven months with COO keeping the knowledge of this business a secret from the founder and Chairman of Holdings Group Ltd with the full knowledge that (the CEO) has to approve and accept the processing of all transactions through Holdings Group Ltd. As CEO had no knowledge of, and did not participate in any way with the business of these transactions, and because COO conducted this business without the authorization of CEO or Holdings Group Ltd. She, and Holdings Group Ltd, are to be held harmless from any disputes that may arise from any company or individuals pertaining to all business being negotiated by myself Mr. Wade Henderson of IMM Financial Solutions and previous Coo of Holdings Group Ltd.
THEREFORE, our deal was fraudulent from the inception. Henderson even put a false email address into the documentation designed to make it appear that we would be sending reports to the Holding Company when they were actually being directed exclusively to him. We were told by the Holding Company that they found that Henderson had executed 29 Agreements requiring total financing in excess of $7 Billion, each of which required a 1.25% good faith deposit. These funds were required to remain in escrow for 90 days. We believe that Henderson had a scheme to monetize these funds via an MTN trading platform, keep the profits to himself and the COO and none of us would be the wiser. Today I am filing complaints with the SEC and NYSE. Warning do not do business with this CON Artist.
Anyone wishing to contact me may do so by emailing (((REDACTED)))
1 Updates & Rebuttals
IMM Financial
Southfield,Michigan,
United States of America
Unfounded Complaint Report: #578510
#2REBUTTAL Owner of company
Mon, March 08, 2010
First, the person who filed this complaint was never a client; the did not consummate the agreement, meaning they never did send in the good faith deposit to bind the agreement.
Second, the amount for the good faith deposit that was reported is incorrect.
Next, the whole story is one sided. When I learned of the accusations I insisted they file a formal complaint as opposed to making up their conspiracy theory. To my knowledge at this point, the have not done so. They did ask me to provide information to them to prove their theory was wrong but I was not and am not willing to give confidential information to them. The are not the authorities and we do not report to them. We have NDA's in place with clients and if the proper authorities wish to view our files we will furnish any and all information that they wish to cure this fantasy they have.
The complainant was trying to force us to do their deal or settle with them monetarily to avoid this complaint from being issued. We will not be blackmailed.
The reason their file was dismissed was because the funder that we were working with was not performing. We subsequently started working with another group that could perform to do the deals we were working. While we were doing this, all Brokers and Clients were asked to be patient while we were reorganizing and structuring the program with the new group.
The complainant was not patient; rather, they were demanding, repeated calling and emailing us to get their deal done NOW. After requesting them several times to be patient, the Broker dismissed the file as he felt the complainant was being abusive.
As soon as that happened, the allegations and threats worsened. At the request of the Broker, I participated in a conference call with the complainant where they tried to put words into my mouth and twisted the details of the events to create their conspiracy theory. At this time we requested them to go to the authorities as opposed to throwing a tantrum because they were not getting their way.
Now, we have secured a funder to replace the one that did not perform originally and all the clients will now have the opportunity to use the new funder under nearly identical terms as the previous funder. All clients that we have spoken to wish to proceed as soon as the initial funding that I have with the new group closes, which should take place within the coming 2 weeks.
The complainant was going to be offered the same program as everyone else that looked at the program we had with the initial group, but in light of how they have handled themselves, the offer will not be made. We do not wish to work with an organization of individuals that chooses to govern themselves in this unprofessional manner.
Should the authorities wish to investigate this, I have all the supporting documentation to refute all allegations made. The program that did not perform is a major inconvenience for all concerned; very true. However, no misleading conduct happened. The program with the previous group did not close, yes, this sort of thing does happen in business...transactions fall through. Anyone that has been in business for any length of time will attest to this.
Moreover, to make matters worse, the complainant is trying to involve as many individuals in their accusations where they are drawing far reaching accusations to fuel their conspiracy theory as possible, with threats of complaints and claims of misconduct with the banks and attorneys involved. Apparently they are looking for as much attention to themselves as possible in the attempt to show themselves as an advocate of justice.
At the end of it all, we are people working with people. Those who cannot work well with people will make a fuss and make accusations to get what they want at any cost. People who take that approach are not the kind of persons we wish to be associated with.
With the new group we are currently using, proof of performance and experience is available to qualified individuals through attorney to attorney verifications.
It is unfortunate that this event ever happened as it takes away from the focus of doing business to tend to the frivolous accusations of people who put more emphasis on making trouble that actually trying to get their project funded. Unfortunately, this action is giving them the attention the are looking for.