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Wecosign Inc. Frank & Tara Jakubaitis WECOSIGN ACCUSED OF FRAUD & THEFT BY VALERIE WITHERS: ANOTHER INVESTOR RIPPED OFF BY CAREER CON-MAN FRANK JAKUBAITIS (SEE MUG SHOT) Internet
I am writing this complaint in order to warn the people who
dont know still that Wecosign is fraud and scam. Being elderly woman I
decided to make an investment because I wanted to leave smth after me
for my children. They never paid me back. I got no shares, no money, no
interest.
AS EVERYONE CAN SEE, THIS IS NOT A "NAMELESS POSTING." MRS. VALERIE
WITHERS AS AN ELDERLY WOMAN DOESN'T MIND STATING HER NAME SINCE SHE KNOWS THAT FRANK JAKUBAITIS IS A CROOK AND DOESN'T CARE WHAT HE THINKS. THIS IS AN EXAMPLE OF DOZENS OF OTHER INVESTORS WHO HAD THEIR MONEY STOLEN FROM JAKUBAITIS SO HE COULD BUY LUXURY YACHTS AND A 500 SL MERCEDES. ALL FRANK AND TARA DO IS DENY THESE ACCUSATIONS EVEN THOUGH PEOPLE LIKE VALERIE COME FORWARD AND SIGN THEIR NAME TO THE COMPLAINT.
AN INVESTIGATIVE REPORT ON FRANK & TARAS BEST KEPT SECRETSUNTIL NOW
THE INCESTUOUS RELATIONSHIP BETWEEN THE BANK ACCOUNTS
OF TARA PACIFIC INC, WECOSIGN INC, ORGANIZED EYE AND FRANK & TARAS
PERSONAL ACCOUNTS DEMONSTRATING A COMINGLING OF FUNDS & EMBEZZLEMENT
I would like to bring to
your attention recently uncovered documents which are all public record at the Central
Justice Center Orange County Court in Santa Ana that blatantly contradict
Franks own words in his shareholder letter dated January, 2012. In Franks
words, Tara Pacific Inc. was and is a
corporation formed to house another private business venture of mine, and
believe me; it is NOT used to house any assets of WECOSIGN Inc. WELL
FRANK, ID LIKE TO SIMPLY BELIEVE YOU BUT IM CURIOUS: WHAT IS ANOTHER PRIVATE
BUSINESS VENTURE AND HOW DID YOU EVER FIND THE TIME TO DEVOTE TO YOUR OTHER
PRIVATE BUSINESS VENTURE? Adam Jaffe in his shareholder letter (SEE ENCLOSED)
states, As many of you may know, he
(Frank) has not received any compensation from the company for over two (2)
years, despite working 50-hour weeks and no vacations. What exactly is Tara Pacific
Inc. and how does it earn money? Whats the purpose of this corporate entity?
The
shareholders would like to know:
1. When was it formed?
2. Where did the $167,190.14 come from that is reflected on the Wells Fargo
bank statements which are public record at the Central Justice Center Orange County Court?
3. What business does Tara Pacific Inc. conduct? How does it make a profit? Can you please share with the class?
In Franks shareholder letter dated December 27, 2010 the Frankster (thats a
Fraudster who happens to be named Frank) states in the third paragraph that it
has been decided to emerge next year as a private company.
Mind you, this is after many shareholders respectfully requested a shareholder
meeting in writing and delivered it by courier to ask questions and be apprised
of new developments at which the Frankster threatened to call the police and
proceeded to sue several of the shareholders with bogus, trumped up allegations
simply because they believed they were entitled to be kept informed. Now, in
the shareholder letter authored by Adam Jaffe, Director of Business and Legal
Affairs/General Counsel for Wecosign, Adam says in the second to the last
paragraph: Wecosign is growing and is
looking for a partner to merge with. We are on a knifes edge with one potential
company and hope to be able to report a final resolution that will be put to
you in a general vote to accept or decline the
merger very soon. So apparently the Frankster suddenly wants the
shareholders approval whether or not to merge with another company. Hmmm, why
would he be so hostile to shareholder inquires two years ago but now suddenly
wants to be one big happy Wecosign family? What was Frank hiding two years ago?
What is he hiding now?
Adam also states on the second page, first paragraph the following: Franks efforts to position the company often go unheralded, but do
deserve recognition. As many of you may know, he has not received any
compensation from the company for over two (2) years, despite working 50-hour
weeks and no vacations. THE FRANKSTER HAS SPENT HUNDREDS
OF THOUSANDS OF DOLLARS ON 3 DIFFERENT YACHTS ALL IN THE 1/3 OF A MILLION
DOLLAR RANGE, HE BOUGHT HIMSELF A 500 SL MERCEDES AND A HUMMER. IM NOT SURE
WHAT HE CONSIDERS NOT RECEIVING ANY COMPENSATION FROM THE COMPANY BUT HES
OBVIOUSLY PLAYING WORD GAMES. HE SPENT $44,000 IN ONE MONTH! THE ONLY THING
HES DONE TO POSITION THE COMPANY IS TO POSITION IT FOR BANKRUPCY!
One shareholder flew down from
San Francisco
and marched into the Franksters back office to demand her investment back
since Frank kept telling her the stock certificates were in the mail. They
never arrived and as we now know, thats because they were never issued through
the Transfer Agent. Shortly after this event, the Frankster had locking
bullet-proof
glass bank doors installed in the office so everyone has to be buzzed in to
get in. This was an interesting move since Adam Jaffe states in the third
paragraph of his shareholder letter, Frank
has always held an open door policy for investors who had questions, and I know
that he continues to encourage you to contact him, at your convenience, should
you have any questions, at any time, about anything. That seems to
be a far cry from installing locking bullet-proof glass bank doors in the
office! So much for an open door policy!
In the Shareholder Update
January 2012, the Frankster states certain accusations which he claims are
untrue and then attempts to explain what he claims is true. On page 2 halfway
down (SEE ENCLOSED) he states, A
separate corporation, Tara Pacific Inc. was created specifically to take and
transfer assets out of WECOSIGN. My wife has been alleged to be part of this
scheme. He then goes on to set everyone straight that this is a false
allegation but lets take a look at the evidence. I dont know about you but
Im always intrigued when someone tells me something emphatically with a great
deal of certitude and then I obtain rock solid evidence to the contrary. This
has led me to always check it out for myself. Having conducted detailed
research, I obtained several bank statements from the WECOSIGN/JAKUBAITIS camp
that are all PUBLIC RECORD from the Central
Justice Center Orange County Court. One of these bank
statements is named Tara Pacific Inc. (SEE ENCLOSED). On the second to the last
entry at the bottom, theres an online transfer to another business checking
account ending in 2121. The name of the account ending in 2121 is: Tara
Jakubaitis, DBA: Organized Eye; this is Taras
other business where she apparently organizes peoples homestoo bad she cant
organize Franks bank accounts! This transaction was a $500.00 transfer from
Tara Pacific Inc. into Tara Jakubaitis, DBA: Organized Eye. As you will see
from the other purchases on the bank statements ending in 2121, Tara uses the
money for Nordstrom purchases, Crate & Barrel, Sephora, The Doggy Spa and
all kinds of miscellaneous expenses so I ask once again, WHERE DID THE
$167,190.14 COME
FROM THAT WAS IN TARA PACIFIC INC. SOME OF WHICH SHE AND FRANK TRANSFERRED TO
ORGANIZED EYE? ITS CRYSTAL CLEAR WHERE THE MONEY CAME FROM BUT THE FRANKSTER
THINKS EVERYONE IS STUPID. Around
this same time, Frank sold a lot of his personal stock in Wecosign and raised
over a million dollars which was represented to be used for Wecosign
businessnot for Frank and Taras personal enrichment! There are also
dozens of online transfers to their other personal accounts which demonstrates
clearly that they have been comingling funds. These are not unfounded
allegations by disgruntled investors or crybabies. Ive provided you, the
shareholder with clear evidence of fraud. Not to worry, this will all become clearer
when we obtain a court ordered subpoena for all of Frank and Taras
bank records and conduct a forensic audit on them.
You may find it interesting that with respect to
Frank and Taras Federal and State tax liens (which were all familiar with)
Frank and Tara had this money in their bank account when they neglected to pay
their corporate income tax which shows how negligent and irresponsible theyve
been with all of the investors money.
When they accepted the investment money from all of the investors, they had a duty to be good stewards of these funds. Many good people trusted them to wisely and responsibly use the
funds to promote Wecosign Inc. as a business. FRANK HAD PLENTY OF
MONEY IN THIS ACCOUNT WHEN HE NEGLECTED TO PAY HIS CORPORATE AND PERSONAL
INCOME TAXES. INSTEAD OF PAYING HIS CORPORATE AND PERSONAL INCOME TAX, LOOK AT
WHAT HE AND TARA DID SPEND MONEY ON! Sur La Table in South Coast
Plaza, Crate &
Barrel, Nordstrom, Haus of Mercedes, on and on it goes. They spent $44,311.00
in one month! During this period of time, Tara
was working full-time at Wecosign which means she wasnt organizing homes for
Organized Eye. I wonder where all the money came from that ended up in her
Organized Eye bank account at Wells Fargo?
My investigation of Frank
and Taras fraudulent business activities has led to other significant
discoveries that will soon be exposed. We are currently unraveling their
convoluted accounting practices and will keep you informed.
SEE WECOSIGN FEDERAL TAX LIEN BELOW: Frank says that he doesn't understand what
the big deal is that he neglected to pay his corporate income tax and incurred
a lien against the company! He seems to forget that other people are part
owners of the company that he just destroyed by his incompetence!
I have uncovered evidence that Jakubaitis sold over 55 million shares of stock
and never reported it to the SEC so he could illegally remain the majority
shareholder. INVESTORS SUCH AS VALERIE WITHERS NEVER RECEIVED THEIR STOCK
CERTIFICATES BECAUSE FRANK JAKUBAITIS INTENTIONALLY WITH-HELD THEM TO PREVENT
LOSING MAJORITY CONTROL OF THE COMPANY. CHRISTINE CONNOLEY OF THE SECURITIES
& EXCHANGE COMMISSION IS CURRENTLY INVESTIGATING WECOSIGN'S ILLEGAL
BUSINESS PRACTICES. ANYONE MAY CONTACT HER AND DISCUSS THE ON-GOING
INVESTIGATION.
I Serial Number
lien
Unit Phone: (BOO) 913-6050 811702111
As
provided by section 6321, 6322, and 6323 of the Internal Revenue Code, we are
giving a notice that taxes
(Including Interest and penalties) have been assessed against the
following-named taxpayer. We have made a
demand for payment of this liability, but It remains unpaid.
Therefore, there Is a lien In favor of the United States
on all property and rights to property belonging to this taxpayer for
the amount of these taxes, and additional
penalties, Interest, and costs that may accrue.
Name of Taxpayer WECOSIGN
INCr a
Corporation
Kind of Tax Ending Identifying Number Assessment
3400 W MACARTHUR BLVD STE 1
SANTA ANA. CA 92704-6851
. 2011.
Recorded
In omclal Records, Orange County
6,00
20110004561438:43 am 09/15111
47412
N33 1
0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00
OAKLAND, CA
~'~ REVENUE OFFICER
(d)
"'7~Title
J (714) 347-9373
Total $
Form 668(Y)(c)
(Rev. 2-2004)
CAT. NO 60025X
27-13-2235
2907.97
Form 668 (Y)(C)
(Rev. February 2000
Recording Requested By Internal Revenue
Service. When recorded mail to:
INTERNAL REVENUE SERVICE
PO BOX 145585, STOP 8420G
CINCINNATI,OH
45250-5585
For Optional Use by Recording Office
1018
Department of the Treasury - Internal Revenue Service
Notice of Federal Tax Lien
Area: SMALL
BUSINESS/SELF EMPLOYED AREA #7
IIMPORTANT RELEASEINFORMATION: For each assessment listed below, unless notice of the lien is refiled by
the date I
given in column (e),this notice shall. on the day
following such date. operate as a certificate of releaseas defined in IRe
6325{a}.
Tax Period
941 12/31/2010 26-1476002 04/04/2011 05/04/2021
941 03/31/2011
26-1476002 07/04/2011 08/03/2021
Place of Filing
COUNTY
RECORDER
ORANGE COUNTY
SANTA ANA, CA 92702
This notice
was prepared and signed at
the 31st dayof
August
Signature
for K. MCBRIDE
(NOTE: Certificate
of officer authorized by law to take acknowledgment is not essential to the
validity of Notice of Federal Tax lien
Rev. Rul. 71-466. 1971 2 C.B. 409)
Pal'( t - Kept By Recording OffIce
Document Number: 201100045614Page: 1of 1
IT'S TIME THAT FRANK AND TARA BEGIN PAYING RESTITUTION!
This recent posting is another blatant attempt by the writer to create a story that cannot and will not stand up to the true evidence. This is not the proper forum, yet he has taken his quarrel to the internet with the sole purpose and intent to destroy a great company and its founder. The posting by a Valerie Whithers was responded to in another forum by which it was stated that Ms. Whithers had apparently purchased her shares from another Wecosign shareholder, not Frank Jakubaitis, and through a third party. Wecosign shares are publicly traded and the records are kept by an independent third party transfer agent. It is also quite feasible that she purchased her shares through a broker as many Wecosign shareholders had deposited their shares into brokerage accounts. It was recommended that Ms. Whithers contact whomever she purchased shares from to seek her resolve.
The other comments made by the poster are not worthy of discussion as he is using ripoffreport for purposes other than what this website was intended.