- Report: #6911
Complaint Review: Cambridge International / Gerry Burns - Scottsdale Arizona
-
Author Not Confirmed
Why?
Cambridge International / Gerry Burns
10088 N 119th Pl Scottsdale, 85260 Arizona, U.S.A.
Phone:
602-499-6366 / cell - oth
Web:
N/A
Categories:
Business Rating:
(0)
Tell us has your experience with this business or person been good?
Cambridge International Stock Scam
My company ANEX Inc. was convinced by Mr. Gerry Burns to by a stock called ODIN Industries out of Canada or the CD&X sybol ODI. Anyway we decided that it was a pretty good deal and we bought nearly 3 million $ worth of this stock on Mr. Gerry Burns advice. When we ran out of funds to purchase anymore he asked us to use our 3 day settlement rule with Morgan Stanley Dean Witter which allows yopu 3 days to cover the cost of the stock purchased. He said he would cover the purchase within the time allotted. We you guesed it. He did not. After 3 weeks of MSDW negotiating with him personaly to cover the more than $500,000 they had enopugh and dumped all the stock we had on the market. The price plunged from $6.80 US to .20 cents and trading was then halted on this stock. The company has been nearly bankrupted after 20+ years (Odin) and has put us out of business owing investors in our company more than 3 million dollars.
Now Mr. Burns or his alias Gerard Thoubburon has promised to make this right but now after 10 months has done nothing but lied. We do not have the funds to pursue the legal action against him other than cooperate with the criminal system that says it's our word against his. This has ruined many lives financially and has forsed us into Bankruptcy both personally and business.
I want revenge!
Now Mr. Burns or his alias Gerard Thoubburon has promised to make this right but now after 10 months has done nothing but lied. We do not have the funds to pursue the legal action against him other than cooperate with the criminal system that says it's our word against his. This has ruined many lives financially and has forsed us into Bankruptcy both personally and business.
I want revenge!
1 Updates & Rebuttals
Samuel
San Francisco,California,
Re: Cambridge Stock Scam
#2Consumer Suggestion
Sat, April 27, 2002
I'm sorry to hear that you are now bankrupt from this stock scam, but WHY IN THE WORLD would you invest over $3,000,000 on a penny stock pitched to your over the phone? Even more astounding, it seems that you bet all of your resources on this ONE STOCK, bankrupting you and your company in the process. Ever hear of "Diversification?" Was any due diligence done on this investment on your part? Or did you just take the guy's word for it? I simply have a hard time believing that someone could put his financial future on a tip from some random person.
