- Report: #1386060
Complaint Review: WBI Associates LLC - Sunny Isles Florida
Reported By:
TKS Global Enterprises -
Stafford, Virginia, USA
Submitted:
Updated:
-
Author Confirmed
Why?
WBI Associates LLC
16850 Collins Ave Sunny Isles, 33160 Florida, USA
Phone:
786-213-2667
Web:
N/A
Categories:
Business Rating:
(0)
Tell us has your experience with this business or person been good?
WBI Associates LLC Wallace ByersWBIWBI Associates He promised me a large return on an investment of less than $10,000.00. Once I sent him some money, approximately $5,000.00; he began promising even more if I gave him more. His credentials appeared to be legitimate and the promise of making more than double my money in a short period of time was enticing. He eventually told me I needed to invest another $50,000.00 to get my money back or I would lose it all. Sunny Isles Florida
Contact was first made with Wallace Byers via phone on 28 September 2016 when he called to discuss investment opportunities. During the next several days (28-30) we talked on 4 additional occasions. The following notes are from my records:
- He is a licensed broker in the state of Florida
- Working in this field of investment adviser for almost 30 years
- The program he is currently working is for overseas metals, specifically gold
- The program is unconventional and as such as the potential for making better returns than just usual stocks.
- Since it is unconventional, he cannot disclose all the details but the returns are guaranteed
- I found him on a couple of business network sites, specifically LinkedIn
- I thought he was legit and he seemed to check out when I found he was listed as WBI Associates on the Florida State Corporation Commission
- He stated that he could get me a return of $6,500.00 by investing $5,000.00 and he was going to do this as a special favor to me because it normally took blocks of $50,000.00 or $100,000.00 to invest in this program.
- He also stated that he would put all of this in writing and send it to me via UPS with a notarized letter.
- He also stated that the sale would be backed by his partner Marcus Schmidt and all of this would be spelled out in the letter.
On the 17th of October, Wallace told me that things had changed and that there was an opening for me to get a larger share of this investment opportunity. He reminded me of the blocks of $50,000.00 and $100,000.00 that would yield even greater returns and that an opening had come up for me to invest up to the $50,000.00 level. We discussed this for 32 minutes on the 17th and I agreed to see if I could apply for a loan to cover these additional costs. I was able to do so and the loan was approved on the 26th and I was able to wire the funds to Wallace on the 27th.
- Synopsis of funds transferred are as follows:
- 4 October 2016: $5,000.00
- 7 October 2016: $5,000.00
- 7 October 2016: $5,000.00
- 12 October 2016: $5,000.00
- 27 October 2016: $30,000.00
Eventually, Mr Byers told me I would have to give him an additional $50,000.00 or lose it all.
In January 2017, I reported Mr Byers to the authorities of Florida, Virginia, and Delaware. Since he practices out of Florida, I contacted him from Virginia, and his company is licensed in Delaware.
I have additional information about this man and the scamming he has done to widows and divorcees.
He is a terrible/evil human being and should be avoided at all costs.
