Kensington Financial Group, The Amerivest Group and HMS stole millions in a ponzi investment scheme
There is trouble afoot for investors throughout the Country that involves Kentuckians right here at home. It seems The Kensington Financial Group,The Amerivest Group and HMS has taken millions in a ponzi investment scheme that apparently was designed to defraud those who invested.
These groups are being led by Barie Fritz an accountant from New Mexico, and Warren Goss, an attorney in Boulder, Colorado. These two, with help from others to be named later, created a scheme that was supposed to pay a 10% return each month to investors. They created investment structures NOT regulated by the Securities and Exchange Commission thus making it easier to take money from ANYONE who would believe their story of wealth accumulation.
They mention the amounts of what others have put into the deal and let you know that the opportunity ends when they get to their goal of $2 MILLION. They then ask you to go to your bank and wire the money into their investment pool account which is managed by accountant Barie Fritz of New Mexico.
Barie and other “Fund Raisers” to whom he has agreements take a % commission and the rest of the money is supposedly sent to Michael Harmon with MJK & Associates, LLC., AR. to be invested. Warren Goss then files with the SEC for a 506D (Non-regulated private investment) and designates that the money will be invested in Real Estate.
These people are costing millions to unsuspecting investors and must be stopped.
When it’s time to pay a ROI to the investors the story is “the money will be in our bank account this week and everyone should get their money in just a few days.” The pay-out never comes and the excuses keep coming with just enough information to keep the investors HOPING for a while longer. The case of our fellow Kentuckians has been ongoing for over 6 years.
In fact, further research has revealed a class action lawsuit in Canada for $100 million against this group for defrauding investors. That case has yet to be decided.
I further have emails in which attorney Warren Goss of Boulder, Colorado has told investors on several different occasions over the years that their money would be in their accounts by the end of the week. Each email is always followed up later with a new date and time and the usual "apology" for not being done on time.
Warren Goss stated that Michael Harmon (MJK & Associates, LLC.) was in Germany closing a deal and would have their money within a week. Why would Harmon need to be in Germany closing another deal to get their money? In my opinion he was there to take the German money and pay these investors off.
What happens then to those in Germany who invest? They must wait until the next unsuspecting group gets conned out of their money to pay them back. And the pattern continues.
Meanwhile Fritz, Harmon and Goss get their cuts off the top and continue making money.
I contacted Mr. Fritz through email so I could get his side of the story and never received a response. Not good if you are trying to be above board.
There are many facts that I have not laid out here because I will myself be asking for an FBI investigation into this matter and do not want to jeopardize the potential investigation.
Another part of this group is called HMS and is ran by some of the same people. Anyone with any information or investments with this group are asked to contact their local AG's office and ask about filing a lawsuit against Kensington Group, Amerivest, HMS, and attorney Warren Goss of Boulder, Colorado, accountant Barie Fritz of New Mexico, Michael Harmon of AR., and anyone else involved.
If you are one of the unsuspecting investors who have been defrauded you can contact the Canadian law firm handling the HMS class action lawsuit for more info: "Sedgwick, Lynn" lsedgwick@mross.com
Thursday, March 4, 2010
20 comments:
Thank you for reading LNP. Open and honest discussions of local politics and relevant issues is important to voter understanding. Please listen to the "Ed Springston Show". We broadcast Monday through Thursday evenings at 7 PM on local media outlets. Please check for the links.
Yours truly,
Ed Springston
Subscribe to:
Post Comments (Atom)
-
You read that right. Welcome to today's liberal utopia where anarchy reigns supreme. There has been an orchestrated, well funded, well o...
-
Rick Redding over at thevillevoice has been following the Southern Belles occassionally this season and posted his last (according to him) p... -
Constable David Whitlock shoots unarmed woman Jefferson County Constable David Whitlock shot an alleged shoplifter at Wal Mart in River...
Mike Harmon took 100K from an old friend of mine, I told him his deal was nothing more that a ponzie scheme and all he wanted to do was con people out of their hard working money. He continues to lie, steal, and cheat. He is a snake with a silver tongue and its head need to be chopped off. It looks like he is still taking money from people. He is a snake and should be stopped. He needs to be in prison. Should you need to contact me regarding a class action lawsuit, email me at goingaalltheway@gmx.com
ReplyDeleteSome of you will be surprised to learn that Barie Fritz is now a funeral director in charge of Salazar & sons Mortuary. He is assisting one of the sons, John Lester Salazar who spent time in prison after he stole nearly $750,000 from unsuspecting families that had pre-arrangement funeral plans with his now defunct Crestview Funeral Home. When is it ever enough?
ReplyDeleteClass action continues against HMS Financial
ReplyDeleteUpdated: Wed Jul. 15 2009 17:55:42
ctvcalgary.ca
A class action lawsuit is going ahead against HMS Financial but no criminal charges have been laid.
RCMP confirm to CTV Calgary that officers are still investigating the case.
Hundreds of Albertans lost over 20 million dollars in the financial scheme.
Lawyers for the investors say HMS Financial was running a high dollar Ponzi scheme.
The scheme collapsed in 2004 but investors still haven't been able to get any of their money back.
Millions of dollars were seized and a recent ruling by a federal court in San Diego means some of the money could be paid back to Albertans.
In addition, HMS Financial principal H. Murray Stark recently filed papers in an Alberta bankruptcy court.
Any investors from Alberta are understood to be part of the class action but outside investors must file individually.
I hope Michael Harmon burns in hell.
ReplyDeleteMounties have charged the three alleged masterminds of a $60-million U.S. Ponzi scheme that bilked investors in Canada and the U.S.
ReplyDeleteSupt. Eric Mattson, officer in charge of RCMP K Division Financial Crime Program, told reporters Monday three Alberta men have allegedly bilked cash from 1,000 victims. Police looked into allegations of investment fraud and money laundering against HMS Financial Inc. between 2001 to 2004. Investigations began in 2004 and spanned six years, in eight different countries, involving international banking, before Mounties charged the suspects.
Mattson said victims, half of whom are Albertans, the rest Americans and residents of other Canadian provinces, were told their investments with HMS Financial were to return up to 12% monthly and were risk-free because one of the company’s owners held bonds valued in the millions that would be liquidated should the investments fail to pay out. “There’s no such thing as risk-free investments,” said Mattson. “How can you make 100% or 150% return on funds? It just doesn’t seem to make a lot of sense,” he said.
Investors who were victimized trusted scheme promoters who may also have put in cash, not knowing they were being scammed, police allege.
Most of the victims didn’t do due diligence and failed to seek second opinion from banks or investment specialists, and simply trusted promoters who were family members, friends or acquaintances from church, said police.
Sgt. Dale Glydon with the RCMP Commercial Crime Section said it would be difficult to retrieve what people lost because the money in this kind of scam kept moving, most of the time out of the country. “Investors lost as small as $5,000 to in excess of $250,000,” said Glydon.
A Ponzi scheme usually lasts for about 18 months, but this one kept going longer because some investors got returns, but HMS Financial collapsed just as the RCMP began investigation, cops said. Police have spoken to about 300 victims but they hope 700 others will come forward.
The accused will appear in Drumheller Provincial Court on April 16.
Charged with fraud over $5,000 are (Harold) Murray Stark, 73, of Three Hills, Robert Fyn aka Col. Robbie Fyn, 62, of Linden, and Garth S. Bailey, 57, of Okotoks.
The three, along with Katherine Rodrique Bailey, 53, of Okotoks, are also charged with money laundering.
I was an investor with HMS and am part of the class action.....I was very happy to hear this news story below!
ReplyDeleteMounties have charged the three alleged masterminds of a $60-million U.S. Ponzi scheme that bilked investors in Canada and the U.S.
Supt. Eric Mattson, officer in charge of RCMP K Division Financial Crime Program, told reporters Monday three Alberta men have allegedly bilked cash from 1,000 victims. Police looked into allegations of investment fraud and money laundering against HMS Financial Inc. between 2001 to 2004. Investigations began in 2004 and spanned six years, in eight different countries, involving international banking, before Mounties charged the suspects.
Mattson said victims, half of whom are Albertans, the rest Americans and residents of other Canadian provinces, were told their investments with HMS Financial were to return up to 12% monthly and were risk-free because one of the company’s owners held bonds valued in the millions that would be liquidated should the investments fail to pay out. “There’s no such thing as risk-free investments,” said Mattson. “How can you make 100% or 150% return on funds? It just doesn’t seem to make a lot of sense,” he said.
Investors who were victimized trusted scheme promoters who may also have put in cash, not knowing they were being scammed, police allege.
Most of the victims didn’t do due diligence and failed to seek second opinion from banks or investment specialists, and simply trusted promoters who were family members, friends or acquaintances from church, said police.
Sgt. Dale Glydon with the RCMP Commercial Crime Section said it would be difficult to retrieve what people lost because the money in this kind of scam kept moving, most of the time out of the country. “Investors lost as small as $5,000 to in excess of $250,000,” said Glydon.
A Ponzi scheme usually lasts for about 18 months, but this one kept going longer because some investors got returns, but HMS Financial collapsed just as the RCMP began investigation, cops said. Police have spoken to about 300 victims but they hope 700 others will come forward.
The accused will appear in Drumheller Provincial Court on April 16.
Charged with fraud over $5,000 are (Harold) Murray Stark, 73, of Three Hills, Robert Fyn aka Col. Robbie Fyn, 62, of Linden, and Garth S. Bailey, 57, of Okotoks.
The three, along with Katherine Rodrique Bailey, 53, of Okotoks, are also charged with money laundering.
renato.gandia@sunmedia.ca
Contact us: mjkponzi@yahoo.com
ReplyDeleteIncluding but not limited to the following:
Michael L. Harmon, MJK and Associates, Attorney Gus Warren, Dr. James Roberts, Barie Fritz, Fair Child Holdings.
There are 7 of us so far that we know of that have invested with these people. They have given them between $100,000 USD and $750,000 USD. We are trying to find out how many other people they have taken money from.
We are in the process of getting more investors who were defrauded. If you have lost money fraudulently with any of these people and would like to get your money back or have additional information tracking these people please let us know at mjkponzi@yahoo.com. There are more people involved and we will provide them for you.
They have been doing this for years and will not stop unless we put a stop to it. They will continue to take money from others.
- Defrauded investors
contact us mjkponzi@yahoo.com
key words: ponzi, scam, fraud,
4-11-11
ReplyDeleteMy mother and I invested 170,000 in three separate investments 8-9 years ago with Bill Haycraft, 80,000 HMS Financial Inc., 75,000 in Amerivest LLC,and 15,000 Kensington Program between years of 2002-2004. HMS wound up being a Ponzi schme in Canada, Amerivest monies were given to crooks who bought phony senior life insurance policies and is still in litigation in Oregon. Kensington is another deal where Atty. Warren Goss handed the money over to a shark named Mike Harmon who efuses to return the money. We have yet to receive a dime on our investments or the return of principal. Nothing but constant lame excuses and lies. For years they keep saying we will have it in the mail next week and next week never comes. Now you hear nothing at all. We entrusted our life savings and our retirement income in these investments. We were assured that the principal was safe with bonds and warranties. That the worst that could happen would be losing the interest. That the time frame would be a year at the most and you would have your money back. If their are any more investors out there please contact me. I would like your opinion on what to do on this. Are their any class action suits other than the one in Canada?
Telephone: 1-270-259-6423 cell: 1-270-259-6884
E-Mail: tlmgolfs@windstream.net
Any new info on Harmon? He claims to be interested in investing money in my company.
ReplyDeleteI can't figure out what they want from me. Been promising to invest in our company for several years. Each time they get to a deadline they don't close. What is their hook?
ReplyDeleteAnonymous I would steer clear of Harmon. He will never make good on his promises in my opinion. Based on the info I have acquired and the stories I have written to date it is clear to me that he cannot be trusted. Good luck
ReplyDeleteThese scammers moved over to Europe to start new partnerships Investment companies as Directors.. All new PARTNERS are known fellons and have served prison time for various offences (mostly money laundering, fruad ect) There is a note that they also change their names (using false Dr ect).. And have been currently looking for new passports. These people are wanted in several countries including Switzerland, Spain, United Kingdom, Germany ect.. Anyone would be very wise to stay clear of any of these men. All information can be viewed at antifraudintl.org. Same scam, different countries.
ReplyDeleteOur group paid Michael L Harmon &/or MJK Assoc of Tampa Fl, $100,000.00 some 3 years ago. Contact with the man is difficult; we get occasional assurances when we push hard enough, but little more.
ReplyDeleteRecently we've become impatient at being ignored and I've searched the Internet to establish if Mr Harmon is a trier with bad luck, or a con man. Apart from this site, I have found no evidence of either.
But talk is cheap! Does anyone hold any knowledge of any actual civil or criminal charges brought against Harmon? If so, what were the results? If not, does anyone know why not? Has anyone reported his aledged activities to the FBI if he has committed all that I read and if not, why not? If so, what was the result?
To date we've been led along quietly and accepted the stories of hard times and genuine effort, if however someone can lead me to evidence that Michael L Harmon is a fraud, we want to see him exposed to save others our loss, then arrested.
If you paid Harmon $1000000 you can forget it. He is not real. Check this post out. avoidscamartists.wordpress.com
ReplyDeleteanonymous, whether it is a fraud or just lack of ability to complete a deal, the result is the same...you are screwed. dozens of businesses like your in same boat. by keeping hope alive you are afraid to call the cops. after all, what if he is real right?
ReplyDeleteHarmon, just can't disappear. Someone must know more details about him
ReplyDeleteIs there currently any investigation by any law authority, or any process involving Court action under way against Michael L Harmon and if so where? Is there anyone involved in recovery or compensation negotiations with Harmon? If so is there anyone involved willing to publish the results and a point of contact so we might communicate?
ReplyDeleteFor any information to help track down your money or if you have any information email Charlie at MJKPONZI@YAHOO.COM
ReplyDeleteContact us: mjkponzi@yahoo.com
Including but not limited to the following:
Michael L. Harmon, MJK and Associates, Attorney Gus Warren, Dr. James Roberts, Barie Fritz, Fair Child Holdings.
There are 7 of us so far that we know of that have invested with these people. They have given them between $100,000 USD and $750,000 USD. We are trying to find out how many other people they have taken money from.
We are in the process of getting more investors who were defrauded. If you have lost money fraudulently with any of these people and would like to get your money back or have additional information tracking these people please let us know at mjkponzi@yahoo.com. There are more people involved and we will provide them for you.
They have been doing this for years and will not stop unless we put a stop to it. They will continue to take money from others.
- Defrauded investors
contact us mjkponzi@yahoo.com
key words: ponzi, scam, fraud,
HMS partner Murray Stark enters jail in Alberta on Oct 28. He has pled guilty and been sentenced to 6 years
ReplyDeleteGreat Post! It's very nice to read this info from someone that actually knows what they are talking about.Farmers Agent Malibu
ReplyDelete