Monday, January 12, 2009

Karl Green, retired IRS Tax Law Specialist ~ Duped

Coby is a stay at home mom, who has lost investments in an online business. Her blog displays the following letter from Karl Green:

December 16, 2008
Message from Karl Green:
Dear Members,
Unfortunately I have some not very pleasant news to pass along to you all.We have certainly been hit by many challenges in the past few months, From PayPal shutting us down, problems with the merchant account, a company we invested in running off with some of our money, DRW collapsing, and probably the biggest is the current economic problems in the US.

Now I must tell you that our most dependable, and since the demise of DRW, our biggest cash provider has announced that I will not be receiving any funds from them until the end of February at the earliest. I have tried everything I can to work this out with them but I absolutely will not receive any cash outs from them until at least the end of February.

My hands are now effectively tied and there is nothing more I can do, Behind the scenes I have also been putting all of my available personal resources into RIOY, and I have nothing left to give. My worst fears have been realized and it is with much sadness that I am forced to close the doors on RIOY.

If this company does, in fact, come through in February you will all start receiving refund checks in March. I have already started the process of determining what each of you have sent in for the various programs such as MFM, LSO, TriVita Option, One Time Deposit, PostCard program, balance of RIOY dues paid a year in advance, etc. and hopefully I will be able to start paying everyone back depending on the amount over 36 months. In some cases if you paid in a very large amount more time may be necessary for me to pay you back.If you wish to continue with LHN at any level and/or MAXeGEN, while I cannot provide payments for products, my upline and I will do what we can to help you promote the business(es) and continue to help build your income.I hope that everyone knows and understands how badly I feel about the current situation. My goal has always been to try to help all of you build a substantial income. I have tried my best and have been met with challenges at every turn, some of which I just can not control. I am frustrated beyond belief and I regret that I have to shut down RIOY at this time.There will be no further conference calls, and the website, message forum, and helpdesk will all be taken offline. I will be contacting each of you to let you know my plans for a repayment of your money paid in for MFM, LSO, One Time Deposit, etc.Please be sure to cancel your monthly RIOY subscription in AlertPay or SolidTrustPay. Look for RIOY or Innovative Financial Services under subscriptions and cancel it.I have enjoyed working with you over the last two years plus and wish you all the best.

Karl Green

I can understand losing an income opportunity; however, I have not lost money by investing online. I wish Coby well in recovering her loss.

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