Dear, Jeff Lowrance. You are a liar.
15 years ago
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--------------BEWARE OF PONZI SCHEME----------------- This site is specifically designed to connect clients of First Capital savings and Loan. Please email any and all information you have to firstcapitalsl@gmail.com. Everything posted on this blog is opinion, including all blogs linked to this google account.
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20 comments:
For what it's worth - my October compounding is showing up on the FCSL web site.
Has anyone tried emailing FCSL Accounting? My last two have been refused connection. Is Jeff down to a one man show or is he closing shop?
my account is showing compounding as well for Oct.
we requested our account be closed as soon as the first "update" came out and he told us that he had stolen our money to invest in his newspaper. We were informed it would take 60 days. We did get our final compound amount and it has been unchanged since that time.
This is ad Jeff sent out today to his readers, you will read at the bottom Jeff is promoting First Capital.
Dear Friends and Patriots,
It has now been a little more than 3 full months since USA Tomorrow began
distributing back during the summer on the 4th of July. With nearly 100 days
under our belt and now several thousand people on our mailing list, we feel
that we are ready to take the next few steps towards growing USA Tomorrow
into a national newspaper. And in order to become a national newspaper, we
will need all the help that we can get!
Frankly speaking, I have been surprised by the positive response that USA
Tomorrow has received. Americans across the country have reacted with such
great comments, emails and phone calls, that it thrills me to know that
there are truly still a LOT of people out there who really do care about our
country.
With that in mind, we want to thank all of you for the awesome job that you
have done in passing out hundreds of thousands of copies of the USA Tomorrow
newspaper. You have delivered them to friends and neighbors in your parts of
the country and you are to be congratulated. Thank you again for your help!
Now, after 3 months of learning and growing, we feel that we are prepared to
take on 3 new areas of growth. The first is that we are now just days away
from being able to start accepting Subscription orders. The second, we have
tested the development of our USA Tomorrow Distributorship program and are
confident that it is ready to go for a national launch across the country!
And third, the USA Tomorrow newspaper is being supported by a financial
product that has been paying clients 13.25% - 18.70% annually for more than
4 years straight. We are now making that financial product available to our
readers.
In regards to our USA Tomorrow Distributorship program, it is geared to earn
our distributors substantial monthly income for those who work at it. If you
are a worker, then you will most likely enjoy our distributorship program.
This short email message to you is simply a survey to find out if you would
like to hear more about either Subscribing to USA Tomorrow, being a
Distributor for us, or if you would like more information regarding our
financial product now available to our readers.
Please click the appropriate links below. If you have interest in more than
one category, then follow the link for each one, filling out the simple
request form and then hitting the word "Finish" for each one.
If you would like more information about Subscribing to USA Tomorrow, Click Here
If you would like more information about being a Distributor of the USA
Tomorrow newspaper publication, Click Here.
If you would like more information about our financial product that is
paying 13.25% - 18.70% annually, Click Here.
Thank you for your time and let's Grow, Grow, Grow!
Sincerely,
Jeff Lowrance
Publisher - USA Tomorrow
We do not want to hurt this. It represents a great option to recoup our money! Everyone just leave it alone!!!
so he has time to work on updating his paper and furthering all of his political endeavors, if only he put that effort into FCSL we wouldn't all be losing our money.
Jeff's email today (October 15th) to everyone on his newspaper list, seems to be his solution to fixing his problems. This IS A GOOD SIGN for us! Although I have written off my $700k (so I don't get stressed out if I do not recover it), I am still hopeful that I may recover something.
In talking to other investors who have been in contact with people in the call center, Jeff has been at the office in Panama at least 3 times last week, working hard to raise money. Obviously at this point he sees the 3000 potential newspaper subscribers as potential investors in the new FCFX program where returns are to be in the 13-18% annually.
Jeff said he was going to put aside working on the newspaper in his last email to us but the surveying and soliciting of new investors is a smart move to get the funds back into our accounts.
I also understand that the call center is still functioning full bore and they are attempting to get new investors. It is slow-going, especially in this economy.
A suggestion was made to Jeff to get a bond for all new incoming funds so as to provide a guarantee on investor funds. This would cost Jeff a lot of money. There is probably now way of doing this at this point but it would help him secure new investors. He may have to eventually do this anyway since investors are reluctant to part with money without any real guarantees and especially in this economic and financial climate.
I think if Jeff is successful in raising more funds this way, he will have the means to get us off of his back and then will be able to move on. Those of us at the higher return rate are a drain on his current plans and he can then take funds from new clients, provide lower returns and make a much larger return for himself and for his ventures. I for one would like him to succeed in paying us off.
Jeff knows that if he does not pay us back he will have NO CHANCE in accomplishing his dream of a nationwide newspaper. This is his baby and his strongest motivation. If he fails he will have lost his direction and purpose in life.
JEFF is MOTIVATED to pay us off!
Here is the rub - if Jeff's plan is to work, and if Jeff is sincere in returning our money, then our efforts to (1) Take Legal Action or (2) The Posting Of THIS BLOG will jeopardize the possibility of this happening. WHY? Because potential investors who investigate and come across this will NOT invest. So there you go....WE HAVE SHOT OURSELVES IN THE FOOT! (EVERYONE'S FEET for that matter).
I suggest:
A) We BE PATIENT and ride it out till January.
B) We REMOVE THIS BLOG since it is public and it will hurt us more than it will Jeff.
C) We create a private and secure WEBSITE where everyone can register with passwords and communicate and keep it off the radar.
D)We find OUR STRENGTHS and who has clout, means and the ability to take action if Jeff does not do anything in January. We can not be anonymous! We actually have to get to know each other and work together.
E) And if we need to (if Jeff blows us off or does not attempt to make good sometime at the beginning of 2009) we find those that would be willing to go down to Panama, hire some big Samoan's, and show up at the office and pound the heck out of Jeff until he opens up his books, transfers funds to us on the spot and makes us feel better! Just pounding the heck out of him will make me feel good.....but not $700k good.
If enough of you are interested in a secure website, I will create one or any of you could. Just let me know.
If not, then my opinion is that we at least need to wait and see what happens and get rid of this site. It does not realistically benefit us in any way except to blow off steam under the guise of an anonymous posting.
And what good does it do to create and post a time-line ticker on a blog but create more anxiety for each of us? That just makes individuals madder and lets them down harder when Jeff does not meet the expectations we set up.
Thanks for reading my rant,
Bruce
P.S. If we all get our money back or at least some of it back and we can not get any more....then you could post a blog and do all the damage you want to Jeff. But doing any of this now just lessens our chance of recovering our funds.
This is a very good idea. I agree that we should make this a private matter. As soon as the secure site is created, the login info could be posted and then this blog could be taken offline.
One ethical consideration here... if Jeff is intending to use other's funds to repay us, isn't that a PONZI scheme? Aren't we then selfishly putting the hurt on others so we can be repaid with their funds? I want my money back for sure but not by simply hurting more innocent people!
Dear Mr. Ethical,
Do you want your money back or not? It sounds like you have given up.
No I do not think he is going to hurt new investors and I don't think we need to worry about someone else getting burned. Here is why:
Jeff was making 12-16% per month in Forex for almost 4 years. I have heard of other groups making lower and some higher amounts. Forex is still the way to go.
Jeff was trading with about $45,000,000.00 of 550 or so investors funds.
If Jeff was to only make 5-6% a month he would still have enough funds to provide 1.1 to 1.5% per month to his new investors, enough to run his program and enough to pay us back (over a little bit of a longer period of time though).
When the balance of the funds become available to him to return to us in January, I will be happy with a portion of my funds back and a smaller return on the balance as the months go on.
If Jeff's intent is to run the newspaper then he should use some funds to pay us back and reduce his outlay and exposure. This makes good business sense.
I would not use the term ponzi here only because that is how the banks and other financial institutions do it. If there was no intent to provide a return or just walk off with the funds then it would be a ponzi scheme. Jeff is sticking around and is intent on his paper making it. If we blackball him he will not stick around. He has said he will pay everyone back. He is in his office working. So again, no it is not a ponzi in my view.
This is called arbitrage. Banks and investor/lenders use other peoples money to make larger returns on other investments. Banks give us a measly 2-3% annual return but pocket the rest for themselves.
Paying us back makes good sense because it lowers Jeff expenses and increases his rate of return by only having to pay out at lower rates.
I don't think new investors will get hurt. I think Jeff really will pay us back. I do not think he can return ALL of our funds by January though. I think he will pay us back about half or so of what he owes us because I think that is all he has left. He dipped into our funds because he thought he needed to in order to meet his goal and to get things going before the elections. This is a critical point to consider what drives Jeff.
He will just have to see what the total of the deposit has grown to in January and determine what percentage he can return to everyone. I am sure it will be somewhere between 30-50% of what our balance shows on our FCSL statement.
Watch and see, but I think he may (a) offer to get the balance of our funds back as he starts earning it over the next year. (b) He will soon reduce the rate of return we are getting (c) he will make us some kind of an offer for a partial refund of our investment.
So don't be surprised if any of this happens.
Bruce
Ethical guy here... I am not saying I have given up nor will I. I believe we will get our money back eventually. I also agree that it is in all our best interests to make this site private so as not to ruin future investments. I know that at least one investor has run away as a result of this site... and frankly they probably should!
That said, I do think Jeff is doing all he can to make the money back. I do not think this is or ever was a scam. But you speak as if you know your information as fact. We do not know why the money is tied up or even how much is left. You assume it is growing in value.. that my be far from the truth. If you know anything for a fact then that is different but so far all this is speculation for the most part.
I believe he is working hard at this point to make things right. But the fact that he is seeking more investors is not necessarily good news for us. It may mean that he has lost/spent so much that the only prayer he has of getting back to even is through trading more investors money and hoping that pans out. On the other hand, it may be that things are going very well and he is simply acting as he has all along with his business plan.
I vote for taking this offline and making it private.
I strongly dissagree with making this blog private just for the selfish reasoning of increasing the chances of getting our money back at the expense of new investors. I for one wish I could have found a blog telling me the truth about First Capital Savings and Loan before I invested. I will not allow Jeff to turn this into a true Ponzi investement by paying me back with new investors' principle. It is not right and I will not stand for it.
to the ethical guy. you are right. There is no way to know if jeff still has any money left. we hear that he is doing things, like refinancing properties, that indicate he is strapped for cash. He has not paid off even small debts that he promised would be paid. He has not given any real indication of where the money is, how much it is, or anything. Any hope we have is not based on any facts..... just the blind belief that he will do the right thing, and speculation that positive things continue to happen to money that we are not even sure exists. I think things would not have gone the way they did if his (and our) situation was not pretty dire, very messed up.
Still, sitting and waiting is as good as it gets right now. I vote to take this blog offline and work from a secure website.
seth
If January 5th goes by without me getting my money back from Jeff, I will go after his newspaper. I will make sure to contact all his competitors 9 (newspapers), sponsors, etc. All these companies and people will be interested in knowing the truth about this so call “righteous” man. If he is destroying my dreams, I will destroy his no matter what it takes…
I received a call from FCSL call center because I signed up to hear about the 12-18% program. The call center at FCSL is claiming that all payments to all investors from the past have been paid, that there has never been a problem, that there is $130 million in the fund, that the money is guaranteed by Post Bank, etc. They are doing a good job I guess. They say that Jeff is there right now, but has been gone a lot dealing with the newspaper. I don't know how they will raise money from the states with the very limited English this one person had, but I hope they can.
A comment to the above post...
We need some one to pose as a investor with lots of money and that person needs to get Jeff on the phone and put him on the spot about the 130million.. and to payments on all the happy 4 yr. clients ....
About an hour before Jeff posted his newest update (at 3:50pm) I talked to Joseph Love. This is a conversation with information I have personally obtained.
He says he has been working for Jeff for the past year. He also said that the assignment from Jeff to Tucker and Ben was to talk to each Premier Investor and get them converted over to the new program at the lesser interest rates (that are now on the FCSL website). They did not do this so that was a problem for them.
Joseph said their job was to move us over to the NEW program which he (Joseph) runs.
Joseph also says that Jeff is working hard along with Joseph's team and they fully intend to pay all of us Premier investors our money back.
Joseph promises he will personally do everything he can to make it work and says he is working long hours (12-14 hours a day) to ensure that.
He said that whether I or anyone believe that is not something they can change but his personal feeling is that it will happen.
He also says that the freeze on our funds was needed so the trading could build back up the funds in the accounts to be closer to the level they were at so Jeff would have the ability to pay everyone back due to the funds Jeff took out.
I asked Joseph about the affect of the blog and he said they are aware of it and have read all of it.
Joseph had a $300,000 client that was about to put funds in last week but he saw the blog and pulled out at the last minute. They have lost at least three clients recently due to the blog.
Joseph said regardless of the blog and those that are upset, they will continue to work hard so they can get things back to normal, pay those that want to be paid back and move forward.
As I blogged before to everyone, I think this blog should be PUT ON HOLD until we see what happens by January.
This BLOG only hurts us and any efforts that Jeff is attempting to get back to normal or to pay us. It does not seem to be the intention of Jeff to hurt his investors and does not make any logical sense for him to do this. Jeff's newspaper is out there and is starting to make headway. Jeff knows perfectly well that if we want to we could completely ruin him and his efforts with the newspaper.
Of course no matter what I or anyone else says, there will be a number of you that DO NOT CARE at this point and want to get even or do damage. There is no way to combat this feeling due to the fact that many of us have been hurt financially by putting too much of our trust into such a good thing. I for one am guilty of that.
Let this be a lesson to all of us to spread our funds out among our investment opportunities so we are not left with nothing for our families. But...I feel we have some hope here and I have enumerated those feelings before.
Please....all of you on this blog...you need to let the owner of this blog know who you are, provide your email address and ask that this blog be suspended or at least made PRIVATE (by invitation only) so it is NOT viewable to the general public.
If you would rather join another private group/website we can set that up easily but your responses need to be non-anonymous. Who are you?
We need to get to know who each other is and commit to working together on our options. We need to be organized so that when January comes and goes we will have been on the same page together to HELP JEFF MAKE IT A REALITY and get our funds back or to DESTROY Jeff's DREAM if he does not do what he says he will do.
How many of you are for suspending this BLOG till January? STOP BEING ANONYMOUS if your money means anything to you, step up and don't waste everyone's time on this BLOG complaining and whining. Be Pro-active!
Thanks,
Bruce
This was emailed to me today at 3:50pm PST.
Dear First Capital S&L Clients,
It has now been a little more than 5 weeks since my last update went out. I did promise to have an update to you after 4 weeks of time, so I am a bit late.
I have been extremely busy with getting this Titanic of a business turned around and going back into the right direction. There is still a lot of work for me to do, but I am back on track and heading the right way.
The first thing that you should know is that I have cut out all other projects and side-tangents so that I can completely devote my time to getting FCSL back to the way it once was. We have 4 great years behind us and I won't see that all go to waste.
I am working to get all of our clients their principal paid back or at least back on track with monthly payments. I say it that way because I have received many, many emails over the last couple of months from clients who do not want us to stop our monthly payment program. They would prefer that we try to pick up from where we left off, if at all possible. I intend to repay/or get monthly payments going again, for all clients, before the January 5th date, if at all possible.
In regards to either paying back all of your principal or starting monthly payments again to our clients; I would like to take a short survey from each one of you to find out what you are thinking. To sort through all of your emails will mean a lot of work for me and my team.
However, I really would like to find out what you are thinking in regards to FCSL returning your principal, verses that of starting monthly payments again. Please watch for a separate email to come to you in regards to that survey. It will be self-explanatory.
Last week, I was ready to send out an update to everyone. Honestly, I would not have had much to say except for the fact that I am still right here in Panama and that I am steadily working towards getting back on track. It was due to be a simple communication to let you know that I am here and that I am doing what it takes to make things right with you.
As for the few investors out there who have been working with my advisor, I assure you that I will make every attempt to return your funds before January 5, 2009 and for the rest of you look forward to the 5th. I will at that time take the steps necessary to return your principal. Once completed, I will send your interest, in full, as soon as is possible.
Thank you for your extreme patience. I just want you to know that I am working 200% to get us back on track again!
Sincerely,
Jeff Lowrance
First Capital S&L
11 Nov 08 In response to your generous management offer, please forward all new comments email as soon as they are received to
LAMNKM@cs.com
Your kind services are appreciated - THANK YOU !!
Signed Martin
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