To All Clients:
This is to inform all of you that I will no longer be representing First Capital Savings or Jeff Lowrance. I have taken on a new job and am excited about the opportunity it presents to me. This situation that we are in together concerning FCSL has been nothing short of life changing for the most of us. For some, it has generated an extremely large return. For others, it has wrecked our lives. I can no longer represent FCSL due to the fact that Jeff has failed to follow through on countless time-lines and promises with all of us. His endless procrastination is unacceptable and inexcusable. I put in my resignation to Jeff effective immediately on Friday August the 22nd if he didn't not either A) call me by the end of business or B) send all funds to clients. He called me later that day and we spoke for about a half hour, maybe 45 minutes. He stated to me that he was going to have his "Major Update" on the decision he was making out to all clients by the end of the weekend. Obviously, we never received it. I talked to him again that Wednesday, and he assured me he would have it out by that Thursday, at the latest, Friday. He said he had been bouncing it back and forth with his advisor Again, I gave Jeff the benefit of the doubt. After speaking with his advisor this week, I came to find out that he had never even seen the email. This is the first time I had ever caught Jeff in a lie to me. This was the last straw and I can no longer be associated with him. My paychecks havenʼt been coming as scheduled and I remained employed only because I was the last line of communication between the clients and Jeff. I kept hoping that he would live up to his promises and give everyone their money. Here we are Friday, September 12th, and we still haven't seen the update. Jeff told me during that conversation on the 22nd that he was in the "process of winding down the fund and was going to be returning everybody's funds to them, starting with the newest clients first that were taking the monthly dividend and were relying on the money to live on. And he would end with the older clients who had been compounding as they didn't rely on the funds for monthly bills." I asked him why he wouldn't just send one large wire and get everyone their funds back at the same time, and his response was "it just isn't that easy Ben. It will take some time." So I followed up with "Do you have the liquidity to pay all funds back to the investors" and he responded with "I do, but it will take some time." He figured it was going to be about a two month process. I have changed my cell phone number due to the fact that I had given it out to many clients over the course of the last couple months. I will however, give you my email address (separate from FCSL email address as I'm sure that one will be canceled) should you wish to you contact me for any reason. I won't promise how long it will take me to respond, and I won't have any further communication with Jeff from this point forward. Being that I am the last rep Jeff has, the last person to reach is Jeff as far as I know. The accountant doesn't have any more answers than I've had over the past few months according to what I have been told. The best way to reach Jeff is via email at jefflow22@hotmail.com and ceo@firstcapitalsl.com. His telephone number in Panama is 610-819-7678 Please forward this to anyone you know who is invested with FCSL.
Kind Regards:
Ben Greenwood
benfcsl@gmail.com
Ben Greenwood
Account Representative
First Capital Savings and Loan
1-866-805-3079
bengreenwood@firstcapitalsl.com
www.firstcapitalsl.com
Dear, Jeff Lowrance. You are a liar.
15 years ago
7 comments:
please... send everyone you know who is a FCSL investor this link. the blog is weak, and we need to make it strong so we can gather information.
We have to come up with some kind of plan for getting Jeff to respond. I hate threats as I think they only push him further away but this is extremely serious. For all we know he is hiding the money away and heading to some remote island... or buying some remote island. I know that isn't really true but what good explanation can there possibly be for the lack of communication. If the money was there and all was well... the email would have been sent a long time ago. The most logical scenario right now is that he spent more money than he indicated and has gone into more aggressive trading to try and make it up faster only to lose in those trades due to the extremely volatile marketplace right now. So he is majorly behind the eight ball and doesn't know what to say to us. My guess is that he is trying his best to make up for his losses/expenses and is having a much harder time than he thought catching up.
Any ideas on a positive way to approach things with him?
Does anyone else get the feeling that Jeff thinks we owe him something? His paper wouldn't exist if it wasn't for our money. I think the only person that owes anything is Jeff. He owes me money, and an explanation with an apology.
He has scared off every employee he had. I'm an original client of Jeff's and he had a problem with getting back to me back then. Then he hired salesmen and it went great, but then he scared them off. Then Ben came on and it was good for a while, but then this all happens and Ben leaves and we are left with nothing. I feel bad for what he has put his employees through, but I feel even worse when I look at my portfolio and see a giant hole in it. Who does he think he is to think this is all somehow okay?
Jeff is very good at selling, but all I can tell right now is that he has only sold us all down the river. Has anyone thought about legal council? If anyone is interested, I'm going to be exploring my options here in the U.S., in Panama, and Peru.
ponzi from the get-go.
if anyone is reading this, you need to join this blog. this is the only way we can all keep in touch and have any power in bringing about a resolution. without Ben, this is our only way of interfacing with each other and possibly with FCSL.
Please be careful with reporting to any authorities. The last thing we need is the money frozen in some investigation that could take years to complete!
The phone number Ben provided is incorrect. The area code is 619 not 610.
Post a Comment