- Report: #968349
Complaint Review: Jeremy Ostrowski - Internet
-
Author Not Confirmed
Why?
Jeremy Ostrowski
225 Railway St. East Internet, United States of America
Phone:
403 932-1808
Web:
www.stayinschool.org
Categories:
Business Rating:
(0)
Tell us has your experience with this business or person been good?
Jeremy Ostrowski Stay in School Jeremy Ostrowski scammed me into investing in his co. 'Stay In School' Only $5000, he tried to convince me to invest more. Internet
If you read Mikes report,mine is identical with a much smaller investment. My initial investment was $5000 and even though Ostrowsky tried to convince me I should give him more, I didn't!
He bragged that Stay in School was doing so well and it was going to make us all extremely wealthy. He just had to take it public which he claimed was going to happen any day. Never did!
After a year or 2 I was losing all trust and started questioning him about finacial reports etc, demanding my money back and threatening to report him Ab securities commission. He did send me some kind of report which turned out to be incomplete.He stopped answering or returning my calls and emails.
My brother and a friend were also taken for several thousand CAD. Ostrowsky is a bigtime scammer, criminal and should not be left free to rip off others. I cant believe he is still out there doing this!!!
He bragged that Stay in School was doing so well and it was going to make us all extremely wealthy. He just had to take it public which he claimed was going to happen any day. Never did!
After a year or 2 I was losing all trust and started questioning him about finacial reports etc, demanding my money back and threatening to report him Ab securities commission. He did send me some kind of report which turned out to be incomplete.He stopped answering or returning my calls and emails.
My brother and a friend were also taken for several thousand CAD. Ostrowsky is a bigtime scammer, criminal and should not be left free to rip off others. I cant believe he is still out there doing this!!!
2 Updates & Rebuttals
Anonymous.
Calgary,Alberta,
Setting the record straight.Further comments.
#2Consumer Comment
Mon, July 22, 2013
The only people who made money out of the businesses that Jeremy started up, were the lawyers and accountants involved.Some investors seem to think that contracts and reports appear magically , as if pulled from a hat. Legal bills were extremely large as corporate lawyers fees are at minimum $850.00/hr plus their $20,000.00 + retainer fees up front. Any time there is a new investor , change in a contract, consultation on the phone with the lawyer, this is all added to the tab.
Moreover, a lot of money was paid defending frivolous suits from investors who had thought to be getting rich quick, within a year or so, which were unrealistic expectations.When preparing the companies to go public, audits were needed and since it was a long process , updated audits were needed every few months to keep the information current. This amounted to extremely large accounting fees and that ended up with little cash flow and no money in the company to hire extra help, so that Jeremy attempted to do the work of multiple employees. There are many sharks in the corporate world and Jeremy has encountered many of them.
I can attest to Jeremy's good character and my dealings with him have always been above board.
Anonymous.
Calgary,Alberta,
Setting the record straight.
#3Consumer Comment
Sat, July 20, 2013
People who invest in businesses need to be prepared to lose as well as win.One should not be investing if one cannot afford it. I was an investor in the named companies and it was made clear to me by Jeremy that there was risk in the investment but that it had the potential to make money as well. When I invest in the stock market and lose my investment, I do not try to sue or bad-mouth my broker. I have not seen any evidence of wrong doing and charges have never been laid against him following an investigation by the securities commission which was requested by a disatisfied investor. I took the risk and I accept the losses.
Few are aware of the personal risk that Jeremy took in an attempt to help the companies go public.He felt it was his responsibility to make money for the investors so that they got a return on their investments.He took out three morgages on his home to help raise the money needed to go public .That is how confident he was that going public would bring the desired returns. When unscrupulous Venture Capital businessmen renegued on their agreements and did not deliver on their promises, of course after they were paid up front, Jeremy was unable to meet his financial obligations and he and his family lost his home to foreclosure. Moreover, there was a hostile takeover of the company orchestrated by an unethical shareholder, who was himself undergoing bankruptcy, and this individual used this to better position himself and push Jeremy out of the last company he had worked so hard to build.
People who choose to tar and feather someone's reputation need to take a good look at the damage that they inflict on innocent children. Have these bearers of sour grapes given any thought to the long range suffering that they have caused?? All that has been written about Jeremy basically amounts to slander- it is vicious and I hope that anyone who reads this slanderous material will take it for what it is , malicious sour grapes from people who are uninformed and vindictive and it continues to hurt many who are innocent.
