If you are new to domains and looking to buy, sell and learn about domains then you have come to the right place. DNForum is the largest domain name community on the internet and continues to grow every day. There are over 105,000 domainers on DNForum doing everything from buying domains, selling domains, learning about domains and discussing domains. Take a minute and Register.
Register Today on DNForum IT'S FREE!Having received a positive recommendation a year ago from Owen Frager as to this guys reputation, i have been stiffed month after month in a ' fixed income domain' scam, and i have finally had enough.
This guy spoke at the TRAFFIC conference and has a newsletter that goes out to a vast number of domainers every month on Facebook and other outlets.
I have copies of contracts and emails recording every conversation, so no one will be in doubt as to the truthfulness of my claim.
I will not publicise his name yet, as i will send him a link to this thread to let him know he has three days to payme my outstanding payments or else i will expose him for what he is.
Stay tuned folks..........
And remember, this is not a case of he said/she said. I have everything documented in emails and facebook messages.....
What is the amount involved?
Close to $2500 from an $8000 investment- but that is only half the problem. After just four months of paying me the payments on time as per contractual agreement, at least 8 further months were delayed, including two months where no payments were made at all. Every month, i would have to beg by email to get paid, and excuse after excuse came as to why he was having problems paying me my money......
He took my money as well as to clients i bought in to the 'investment' with ironclad gaurantee to pay on time every time and the outcome has been nothing short of a disaster.
What is particularly galling, is that this guy - and he is a big guy in the domaining industry actually used me as a pawn in his game when he asked me to offer my recommendation to another victim - which i did - to my regret.
As of today - he owes me $1300 for over a month and 6 days.....and heabsolutely refuses to give me a specific day of payment.....
So just name him or why bother to start a thread and warn us about a ghost. jmo
Look out for that guy over there everyone, who you ask, can't say but look out he's there ready to get you...
I hear what you are saying, but i think if i name him, he may well feel he has nothing to lose and i can kiss any of my money goodbye. This way, if he is at all concerned about his reputation, he will make his excuses and pay me and finally see that i am not a soft touch.Originally Posted by TheLegendaryJP
However, Monday afternoon, if he has not sent me my money, i will name him plus provide irrefutable evidence that i have been scammed.....
Ahhh the real reason for the thread
I don't blame you.
I still don't understand what the agreement entailed. Did you give him a domain to monetize and invest its revenue? Are you not able to claim the domain back while you seek revenue for past months?
Is is nothing like that - i guess i fell for the 'if its too good to be true' it probably is.
This was a case of selling me relatively crap domain names for $2500/$1500/$500 up to a total of $8000 which was pushed in to my account and he would then make 12 x $250/150/$50 over a 12 month period , giving me a profit of 20% over the course of the year. The names i received were entirely irrelevant. I had no no use of them and simply looked at this as a fixed income loan with a 20% return over the year. I have been begging for my payments for the last eight months, which he would finally send me, always late, sometimes weeks or even a month late and as of now he is again six weeks behind in payments - the longest default to date.
---------- Post added at 09:06 PM ---------- Previous post was at 09:02 PM ----------
This is not someone living on the streets. He has made huge domain deals in the past, leads a very nice lifestyle and often offers his advice at TRAFFIC conferences. He could pay me all my money back in an instant........he just thinks he can jerk me along......
Sounds like a loan to me, the names were collateral or no? If they were worthless, they weren't good enough to be collateral so why " lend " the money, the promise of 20%, I know the answer. Youre lucky you didnt sign any document that in the event he forfeited the names were collateral, youd have been screwed.
Correct. It was a loan in every sense of the word with the domain names acting as an inducement only, certainly not as collateral.
Gee golly wally if this guy is that big I almost hope he doesnt pay you just so we know why he needed to lend money at 20% and nearly default.
j/k but not really lol
It will be very interesting to know who this Big Kahuna is and why would he default on such amount.
PeopleSearchOn.com | MobilePhoneCity.net | DentalPlansProvider.com | ChristiansForDating.com | CallingCardDepot.com | MobilePhoneX.com | MindRoulette.com
I would strongly suggest getting legal advice, in addition to waiting a day before sending mean, possibly illegally threatening, emails or posts.
I am not sure you know what a Ponzi scheme is as opposed to just a bad investment. If someone is truly running a Ponzi scheme, you have a responsibility to report the fraud to the authorities. Even a victim of a Ponzi scheme can’t threaten/blackmail the Ponzi scheme operator to get his money back first ahead of other victims.
More likely, it’s just a bad investment or loan gone bad. In which case, the courts provide legal recourse, BUT YOU HAVE TO FOLLOW THE RULES. And if the guy goes bankrupt, the bankruptcy court will not let anyone get ahead of the line to get their money back. Or google "debt collection laws," at a minimum.
Never dawned on me, ponzi scheme, but makes sense now that ya mention it. Instead of a " product " its domains.
i will take my chances - thankyou. I have more documentation than you can imagine.
You probably should have gotten recommendations on his character...
He's his own biggest fan.
"Just a lot of embarrassment, embarrassed to be part of group of domainers who would do this to their fellow man.",
Condemnation of Mobee boys and investors by our precious Mother Theresa of Domaindom
So, if he pays you won't publicise his name and therefore let others be scammed? Tsk tsk.
Your not doing anyone of us a favor by giving him a time line to pay you! Either way from what you are expressing in this thread the damage has already been exposed and the setup is founded on scamming individuals! You are already a victim and here you are threatening the scammer to pay or be exposed. If you fail to post his identity to our community, not only are you harboring a terrorist of the world wide web, you are also using our communities voice for your own selfish interest. Either have the courtesy to expose a scammer or don't use our community forums to post about it. As far as I'm concerned the damage is clearly done and this person needs to be exposed. Every Scam has a face and every face needs to be exposed before more hard working Domainers are targeted by a person who flashes a suit and tie!
There is a lot of valid argument to what you have stated below. So I will indeed expose him now.
His name is Kevin Leto. His website is BIGTICKETDOMAINS.COM
He is good mates with Rick Shwartz (i believe , cant be entirely sure though these days) and here is a guest post from Kevin Leto that Rick put up on his blog in 2007....http://www.ricksblog.com/my_weblog/2...-developm.html
At the TRAFFIC conference in 2010, he was a guest speaker on the topic 'HOW TO PROSPECT FOR END USERS@!!!!
http://dnjournal.com/archive/lowdown...s/20101020.htm
And yet this man cannot find the wherewithall to pay me my $800 a month on time for the last eight months or so....and now he has stopped completely from paying for the month of February and March.
I am happy to have him comment on this thread if he wishes to dispute any of the above. But I dont think he will at all cause of the mountain of evidence I have to the ongoing saga of him not paying me on time or at all....
I have also received PMS from people that I am not alone on this issue - which makes sense...as I do not see why he would pay everyone else but just not pay me.
But I can only CONFIRM for myself.
I have also told him many times that I was relying on the monthly income in a major way.
His only answer to me was a very annoying and all to familiar 'you are next on the list' But this list obviously didnt exist as no payments have been made in over six weeks now.
He would also give me sob stories as to how things are tough for him right now and he miscalculated stuff etc etc, but when he sold me on the deal, he never said Give me your $8000 and IF TIMES ARE GOOD I will repay you your money....it was a straightforward deal - you lend me the money and i will make monthly payments on time on specific dates - come rain or shine.....
He is also a very smooth talker and writer, but he will have no wiggle room here......
Lets see if his mates such as Owen Frager and Rick Shwartz are as quick to denounce him as they were quick to denounce OverSee.Com at every available opportunity.
Razorblade, thanks for that. I know you hoped for some money back, but rather than get defensive you helped prevent further cons. Good on ya.
Posting Permissions
View Profile
View Forum Posts
View Forum Threads
View Friends
View Blog Entries
Reply With Quote
Bookmarks