- Report: #1470802
Complaint Review: shout.tv - Utah
Reported By:
Stephen Mackenzie -
lander, WY, United States
Submitted:
Updated:
-
Author Confirmed
Why?
shout.tv
Utah, United States
Web:
www.shout.tv
Categories:
Business Rating:
(0)
Tell us has your experience with this business or person been good?
shout.tv James Phipps, Daryl McBride fraudulently induced me to invest $50,000 in their internet start-up Utah
In 2016 I invested $50,000 in this internet entertainment venture. Shout.tv The numbers looked great. I was looking at a 30% return in about 90 days, with a portion of my investment to be paid back, the rest converted to stock. To date they have not repaid a penny. They keep saying that "soon we'll get you taken care of, and you will be very happy". Complete BS. I've filed complaints with both federal and state agencies, which remain pending. They showed me a 25 million dollar investment in the company by microsoft. Turns out what they showed me was a forgery, fraud. I lost my entire retirement savings on this.
I trusted James Phipps, one of the 2 senior partners, the other being Daryl Mcbride based in part on his "position in the Mormon church" and having worked with him previously. This is more than simply a business idea gone bad. They forged documents purported to be from Microsoft. They engaged in wire fraud. They made up numbers, such as the number of downloads of the companies software, stating that they had over a million downloads, when all the App store and the google play store showed a few hundred. By using the theory that a big lie is easier to pull off than a small one they scammed me out of my entire savings. They showed a contract with Spanish soccer club Real Madrid, which was again just made-up. the list goes on. Bottom line, shout.tv and its owners are scammers of the highest level, liars and hopefully someday soon they'll get theirs. Here is just a small sample of the information they sent me, direct from the horses mouth:
1.2M and growing unique Real Madrid Shout users
130 million reach into social media followers
Real Madrid Contract just extended for 3 years by the club
Microsoft contract – takes the Shout solution global through Microsoft channels
Shout Me a Million and Daily Millionaire shipping this Fall. Positive beta tests.
Shout Millionaire is now integrated and ready for launch in Real Madrid app
That's what they sold me. I got nothing but garbage!
3 Updates & Rebuttals
stephen
lander,Wyoming,
United States
continued
#2Author of original report
Mon, April 27, 2020
turns out I was the ONLY investor who was not directly involved with the principals in other ventures. I take offence to the allegation I was trying to rip off anyone! I invested in a company ran by a former friend who I trusted. There was no ponzi scheme here, if the investments they said were coming, Microsoft, Real Madrid, had come through as was promised, this would have worked out fine.
the issue was these investments never happened, and the owners told me they had. They told me there were over a million downloads, there weren't...and the list goes on. thanks for adding insult to injury...the rest of what I'm thinking I can't publish here.
stephen
lander,Wyoming,
United States
I knew this owner fairly well, and trusted him
#3Author of original report
Mon, April 27, 2020
This was not a blind investment. I reviewed their prospectus, and it looked solid. There was even a contract with Microsoft to invest 25Million. The contract looked legit, turned out it wasn't. It was a forgery. They claimed to have had over 1 million downloads. I didn't check this out based on my prior dealings with the owner.
Now the company is folding, and I lose my entire investment as the two who started it get to hide behind the corporate veil. Yes, I could have done more research, but given my past dealings with Phipps, I made the mistake of trusting him. live, learn, and lose. Unless...if you see some value here, I own 100,000 shares in the company I'd gladly sell you.
John
Takoma Park,United States
Sounds like you did everything backwards.....
#4General Comment
Sat, January 05, 2019
...and did all your research AFTER you handed $50,000 to this person you now call a "scammer."
Maybe this is a scam. I don't see a single claim made by the start-up that could not have been verified long before you handed over your money. So guess what? The real scammer here is your brain and your greed, which worked together to scam you. Here's what I mean by that:
There is no LEGITIMATE way for a company to guarantee a 30% return in 90 days- the only way anyone can promise that is through a ponzi scheme, that is, revolving the money provided by new investors to the old ones to create the illusion of growth.
You had to know this, which means you were willing to go along with cheating others if it meant you would profit. What you didn't figure on was being at the back end of the scheme, not the front- you were the one providing the 'quick profits' for the early investors. Are we supposed to sympathize with you now?
As someone who puts up with strong markets and weak marekets, and who invests slowly and carefully and who expects slow growth to assure my retirement, you aren't getting any sympathy for me because your "get rich by cheating other people" strategy blew up in your face.
