- Report: #198702
Complaint Review: Innovative Financial Services - Rod Rieman - Naperville, Oswego, St. Charles Illinois
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Author Confirmed
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Innovative Financial Services - Rod Rieman
Naperville, Oswego, St. Charles, Illinois, U.S.A.
Phone:
630-310 6954
Web:
N/A
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Business Rating:
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Tell us has your experience with this business or person been good?
Innovative Financial Services - Roderick James Rieman Ripoff Theft of Senior Citizens retirement savings thru illegal and Ponzi scams! Naperville, Illinois
Like Dave of Naperville, my family was also ripped-off by Roderick James Rieman and his company Innovative Financial Services. Rieman is the master of illegal get rich schemes.
Rieman is a Affinity Scam Artist using his church to gain the confidenceof senior citizens. He offers his services as a financial advisor when in reality he is an insurance salesman, not a licensed advisor. Gaining the seniors' trust, Rieman finds out how much is in their retirement savings and IRAs, and convinces them that they could realize greater returns in the
investments he represents. The problem is that the investments he sells are illegal, and usually not registered with the state of Illinois.
What he sells is a Ponzi scam that promises a big return. These scams have confusing and complicated contracts, usually tie up the invested funds for
three years or more, and contain extreme penalties for cashing out early. No honest person would commit a senior's money like this, unless (perhaps) he
hopes that his clients/victims will die before the scams are exposed.
Rieman is paid a nice commission from the Ponzi scams, while his clients/victims not only lose their retirement funds, they often face tax consequences because of their IRA disbursements. A legitimate financial advisor would not tie up ANY investor's funds in scams like these.
Mr. Rieman's commissions from the Ponzi scams, and other sales, enabled him to purchase a million dollar house ($1,004,878.00) in St. Charles (Sept. 2004). His clients/victims have not been as fortunate.
In Dave of Napervilles case, The U.S. Securities and Exchange Commission has determined that the Douglas Network Enterprise is a security and is a Ponzi scam. They have initiated a legal process against the
principle owners of the enterprise, and I suggest you go to http://www.sec.gov then under litigation releases, enter LR-19640.
In Illinois one must be licensed to sell securities. Rieman DOES NOT HAVE a license nor did he ever have a license to sell securities or any of the investment scams he offered to sell through his Innovative Financial
Services network. That said, he does have a leadership roll at his church,and in his role he convinced my parents that their retirement money could earn high returns by placing it with the Innovative Financial Services team. My parents lost all of their retirement funds by listening to this Christian man. There are many synonyms for the word despicable, and they all
accurately describe Roderick James Rieman.
I suggest that anyone who deals with, and subsequently loses hard earned retirement money through the offices of Mr. Rieman, call the Illinois Securities Dept at 1-800 628 7937 (toll free). Ask for the Enforcement
Section, and give the Enforcement Officer Mr. Rieman's name believe me,they know all about him.
One last thought about Riemans ability to give financial advice. If he is skilled in the world of financial advice, why did he have a Federal Tax Lien
($96,507) placed on his home in Naperville for failure to pay 1040 taxes in 1999 and 2000? The Lien was in force from 10/2001 through 3/2004, presumably
retired in March/April 2004. Perhaps some of Dave of Naperville's hard earned retirement money helped Mr. Rieman eliminate his Lien.
William
Naperville, Illinois
U.S.A.
Rieman is a Affinity Scam Artist using his church to gain the confidenceof senior citizens. He offers his services as a financial advisor when in reality he is an insurance salesman, not a licensed advisor. Gaining the seniors' trust, Rieman finds out how much is in their retirement savings and IRAs, and convinces them that they could realize greater returns in the
investments he represents. The problem is that the investments he sells are illegal, and usually not registered with the state of Illinois.
What he sells is a Ponzi scam that promises a big return. These scams have confusing and complicated contracts, usually tie up the invested funds for
three years or more, and contain extreme penalties for cashing out early. No honest person would commit a senior's money like this, unless (perhaps) he
hopes that his clients/victims will die before the scams are exposed.
Rieman is paid a nice commission from the Ponzi scams, while his clients/victims not only lose their retirement funds, they often face tax consequences because of their IRA disbursements. A legitimate financial advisor would not tie up ANY investor's funds in scams like these.
Mr. Rieman's commissions from the Ponzi scams, and other sales, enabled him to purchase a million dollar house ($1,004,878.00) in St. Charles (Sept. 2004). His clients/victims have not been as fortunate.
In Dave of Napervilles case, The U.S. Securities and Exchange Commission has determined that the Douglas Network Enterprise is a security and is a Ponzi scam. They have initiated a legal process against the
principle owners of the enterprise, and I suggest you go to http://www.sec.gov then under litigation releases, enter LR-19640.
In Illinois one must be licensed to sell securities. Rieman DOES NOT HAVE a license nor did he ever have a license to sell securities or any of the investment scams he offered to sell through his Innovative Financial
Services network. That said, he does have a leadership roll at his church,and in his role he convinced my parents that their retirement money could earn high returns by placing it with the Innovative Financial Services team. My parents lost all of their retirement funds by listening to this Christian man. There are many synonyms for the word despicable, and they all
accurately describe Roderick James Rieman.
I suggest that anyone who deals with, and subsequently loses hard earned retirement money through the offices of Mr. Rieman, call the Illinois Securities Dept at 1-800 628 7937 (toll free). Ask for the Enforcement
Section, and give the Enforcement Officer Mr. Rieman's name believe me,they know all about him.
One last thought about Riemans ability to give financial advice. If he is skilled in the world of financial advice, why did he have a Federal Tax Lien
($96,507) placed on his home in Naperville for failure to pay 1040 taxes in 1999 and 2000? The Lien was in force from 10/2001 through 3/2004, presumably
retired in March/April 2004. Perhaps some of Dave of Naperville's hard earned retirement money helped Mr. Rieman eliminate his Lien.
William
Naperville, Illinois
U.S.A.
1 Updates & Rebuttals
Charles
Geneva,Illinois,
U.S.A.
Phone number update
#2Author of original report
Thu, July 13, 2006
The phone number listed above 630 310 6954 is very incorrect! THIS is the correct number to reach Roderick James Rieman 630 364 1445. Call him now and ask him where your money is. It's sad to hear his lies about how he was taken advantage of by Douglas Network Enterprises and how his family lost all their money etc. What Roderick James Rieman won't tell you is that he was the largest seller of this Ponzi in the U.S. His commission was 14 to 16 percent. He will tell you he and his family had all their savings invested in this and they have lost their money also. Boo h*o, when the case is ready to go to court, I'm sure they will have a list of investors and then we'll see how much Roderick lost. Roderick and Sharon have the million-dollar house they bought in Sept.04 (with your retirement money) on the market. Yeah, he's selling it for $1,200,000. Not bad seeing as he bought it for $1,004,878 just about 22 months ago. Very nice profit if he gets his asking price. Are you victims of Roderick James Rieman doing that well?? Roderick and Sharon still own their house in Naperville. Brian Rieman has his Oswego house on the market also.... are these Riemans getting ready to leave the country? PLEASE REMEBER, Roderick James Rieman is a Christian; this is what he told my parents.
