Report: #560907

Complaint Review: Mike Hansen - Internet Internet

1 Updates & Rebuttals

Reported By:

Patty - Mt. View, California, United States of America

Submitted:

Updated:

Author Not Confirmed

Why?

Mike Hansen

Internet, Internet, United States of America

Phone:

Web:

http://www.ripoffreport.com/financial-services/mike-hansen/mike-hansen-dawn-beede-scam-a-52bdb.htm

Categories:

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Mike Hansen Dawn Beede scam artists, ponzi scheme Internet

*Consumer Suggestion: shut up

Mike Hansen was running a major ponzi scheme. He has stolen money from his investors. Mike was running a PPM under the name of H&K Assets located in Utah. Mike then progressed to the real estate side of the ponzi (Global AIG), where he got investors into developments, and with other contacts, and lost hundreds of thousands on this side. I would think that the IRS should be looking into his schemes since he most likely did not pay all his taxes. A criminal complaint should be filed against him. I got involved with Mike Hansen when he came to Los Altos, CA and held a seminar about Las Vegas and Orlando Cay Clubs. He gave me a set of the uniform marketing materials for Orlando Cay Club and Las Vegas. Once I bought my unit in the Orlando Cay Club and received the lease back money, he was going to invest it in H&K Investments which would give me $5000 per month to be used to pay the mortgage. I invested $100K 10/2007 and another $100K in 1/2008. Mike called me in May 2009 to tell me all my money was lost and I couldnt get in touch with him after this phone call. He didnt send me any legal forms or summary. Based on all Mikes lies about how well the fund was doing and he practically guaranteed that my money was safe, he encouraged me to take out the second $100K from my home equity. So currently, I have a $200K home equity loan to pay off on a $50K year salary. In Jan 2009 I began calling him to ask for my money to pay off my loan. In 2007 I received $25,000 interest from the H&K investment on my $100K. I received a 1099 and paid taxes on this amount. In 2008 I received $39734 which turned out to be my own money. I did not receive a 1099 and Mike said (phone call) there would not be one issued. He didnt send many emails and wanted to always call me and now I know why he didnt want any paper trails. Every phone call was always about how well the fund was doing. He got me involved with the Orlando Cay Clubs. I bought a unit based on the web sites he showed me and his recommendation after visiting the site. He said he had visited the site and knew it was going to be a good investment and return for my money. He was going to purchase a unit. Come to find out, he never visited the site and didnt have a clue about what was going on there. He misrepresented the entire real estate deal and was only concerned about his commission. Now I am in a class action law suit, going to trial mid February this year. All he wanted was the lease back money from his investors. I am not only angry, I am in deep financial trouble because all the money for my retirement is gone. I put my trust in a crook, albeit a very plausible one.

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