This is the brief message sent from accounting when a client requested a withdrawal. All of the messages coming out of First Capital Savings and Loan points to Jan. 5th, 2009.
"All wires are on hold until January 5th 2009, as per the last major updated."
Dear, Jeff Lowrance. You are a liar.
15 years ago
16 comments:
To clarify, I will not place PERSONAL information on this blog regarding Jeff or account managers. With that said, here is the contact information for a First Capital Savings and Loan Account Manager.
Joseph Love
Senior Account Supervisor
866-459-7682
Since none of us have one, we might as well use Joseph as ours. Please remember to update the blog after contacting him with what he has to say and any answers to questions.
This is to add clarity to anyone who might be receiving info from this site. It seems that the message from the sales floor at FCSL to new potential clients is that there are only a few people that are unhappy with FCSL. I wish this was the case, but it is not.. There are hundreds. It is just that not so many FCSL clients are on this blog.
Lives have been ruined, marriages have ended, etc, because of the way FCSL has operated the last 5 months. This is not a personal attack on anybody at FCSL, it is an accurate reporting of the facts.
The head of FCSL admitted that he took money that was not his, and used it for personal matters.
Clients have asked for their principal to be returned, as in the agreement, and have not been able to get their money back, and for the most part, do not receive communication from FCSL.
No investors have received payment since June, or had any principal returned.
In June, key clients were promised money in September because "the money was tied up until September in a longer term investment, but you will get paid then." That time has come and gone with no payment. A new statement issued to ALL clients stated that "the money is tied up until January and will get paid then." The same story except the goalpost has been moved.
There is a promise from Jeff that he will pay everyone back by January 5th, although it might be at a lower interest rate.
He has promised to pay the ex-account executive $2000 back pay as of two weeks ago. He has not done this.
There was promise of a progress report, there has been none.
We all want FCSL to succeed. We want Jeff to explain how that is going to happen.
I believe that we need to prepare for the worst hopping for the best….!! We need to prepare an action plan in case that Jeff fails to honor his word again…. Any suggestions?
It is baffling to me why Jeff would choose to not send a simple email to us stating that things are "moving along". If he just did that then at least we would feel acknowledged! Instead, it proves that he could care less about what he has done to us.
I agree, it is baffling that he ignores us like this. I sent him an email yesterday saying as much plus letting him know in case he doesn't that we are coming together and WILL be vigorously going after him if Jan. 5 turns out to be just one more lie.
If we are going down he's going with us. Breaking his agreement about the update is so totally against his best interests....putting gasoline on the fire by ignoring us, instead of water with just a few lines of an update. That being said I still think our only hope is too wait and pray he will come thru in January...and hold off retaliating until then. At that point perhaps do a conference call, brainstorm and decide how best to proceed.
I really think all this talk is pointless. Most of us are too afraid to even admit who we are let alone signing on with some plan of action. Fear of retaliation is very justified as Jeff has threatened to keep investor money if any action is made against him or his paper.
That is why I believe the only way we can truly become organized and effective is if we take this thing offline to a private login based system where there can be control over who is involved. That way each of us can sign in as ourselves without fear that Jeff is watching... Then we can really get organized.
I have things I could share that would be very helpful I believe but I am fearful...
In an effort to entertain myself with more positive thoughts while waiting for January 5th, does anyone have any suggestions of where we can reinvest the principle that we will be receiving that will earn anywhere close to the return we were supposed to be receiving from FCSL? I am hopeful that Jeff will come through in January but then I need a new investment source. Any suggestions?
Here is the problem, the only ones i can tell getting updates are the investors that received payments, i have a friend that invested and he knows nothing about this, he has never received anything except for the bonus shoiwing up on the ledger of his account. I agree that if we do something it has to be in private, FCSL could be posting on this board for all we know, in fact however started this blog could be in Jeff's corner and they are using it as a barometer of what the clients are thinking and plan stratagy. This is not likely but could be the case.
I still like the idea the other poster had of squeezing Mack or Ben a ittle and of course nobody was willing, which brings us to MR. Love.
Someone needs to figure out how to go private and have a plan B.
I now agree with those arguing the need for a private blog. If you are interested you must e-mail me and somehow convince me that you are not in cahoots with Jeff and would like to be a part of the conversations forming a plan for Jan 5th. If Jeff continues on this same path of deceit we must act. You must be willing to share your identity with the other members of the private blog.
Private blog is a great idea as is sharing our identity. My question has always been,"Who exactly are you and how are we sure that you are on our side and not a set up from Jeff?" I don't mean to be rude or ungrateful but I still fear retaliation! I need every cent of my investment!
No wonder we lost money, as all of you guys dumb, one question and if you can answer you can figure it out duh!!
How did everyone find out about this blog my answer is MACK and he has our emails at least mine. So Mack if you are listening get with the guy that started the blog and send out some emails just like you did before and we can answer them
i can't even follow that last post... grammar anyone???
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
Greetings, I am Kim, an investor with FCSL. I am in extremely bad shape on many levels because of my investment with FCSL. I say this to let everyone know whose 'side' I am on.
I hear that there will be an email from Jeff sent out shortly. look forward to getting that.
As I suspected, this blog is hurting his chances of improving this bad situation we are all in.
I see this blog serving two functions.
1. Letting Jeff know that we are organized and with very little effort can cause a great deal of damage to his operations.
2. Getting to know each other so if the time comes to take action, we can be organized.
#1 above has been a success. Jeff now knows we can organize, he knows his businesses can be hurt, even by this mild blog…. (Things can get much more damaging in the internet world than this blog). He gets the idea. This blog is hurting him (and by hurting him, if some people have not figured it out, it is hurting us.)
#2, 'organizing and getting to know each other' has not been successful at all, and will only be successful if communication is carried out privately, where people can speak freely, without fear of retribution.
Clients have agreed to give Jeff until Jan before we take action. Please understand something..
THIS BLOG IS AN ACTION!!
We can’t have it both ways. We can’t say “…yes, please go out and work very hard to straighten everything out, but in the meantime we will cripple your ability to do so.” We are not keeping our side of the deal by having this blog up, and we are not establishing a contingency plan if things do not work out, either.
A very simple equation is at play here. We want our money back, or want distributions, and we want jeff to go to work and make that happen. In order for Jeff to make this happen, this blog needs to be taken down, and those who wish to communicate can do so privately. Everyone here absolutely should speak with each other to get some kind of game plan should January come and go without any results from FCSL. Effective organizational efforts will only be realized with open communication, which, if you have not noticed, is NOT happening on this blog.. at all...there is no real communication happening between clients here. I know it must feel good to vent, believe me, I am as upset as anyone, but at this point the blog is only functioning to make it more difficult for us to get our money back, or to get distributions happening again.
And to the people who say they want to protect future clients, Jeff is able to earn money for new clients at the lower rate he is paying AND pay premier clients off. It is not one or the other.
I have information that everyone will find useful, and I will be happy to share this information when people will identify themselves in a private forum after this blog is removed. It would be counter-productive for us all for me to share information on this public forum.
From what I read here, the administrator of this blog is in agreement with this approach. I have emailed, but not heard from him or her at this point. I hope to hear something soon.
I am not technical, but I understand that one possibility for the blog at this point is: The administrator of this blog requests that emails be sent to him explaining who you are, there should be some kind of verification, and then a password will be sent to you. Then the blog will be made accessible by password only, not visible by the general public, or anyone from FCSL. People will feel safe and can organize.
Another member has suggested setting up a secure website, and doing away with this blog entirely. That is probably the best way, but I suppose it is up to the administrator to figure it out.
I look forward to hearing from the administrator, I look forward to having this blog be private, or removed totally, and I look forward to giving Jeff the space that we said we would give him so he can put FCSL back on track. If things are not in some kind of acceptable order by January, THEN we take action, which we can do in an organized, effective way because people will have spoken with each other. Again, the act of having this blog up is the clients taking action at the wrong time.
I know this is redundant, thanks for listening.
KB
send me an email and I will gladly talk with anyone.
kim9087@live.com
sorry my grammer is not so good and my typing is worse,
i say stop this blog take it private and have Mack get in touch with those to give the creator of this blog your emails. As for converting my money i told jeff that i would work out a payment schedule with him for my bonus money as long as i got half of what he owes me now and take a lower rate on the rest. so lets get this MACK person to help and take this private.
sorry about my english
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