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" email@example.com
This will not be the post you expect from the headline. Fair warning..... Most remember the events of 9/11. How anyone could forget I have n...
I have made it a habit of outing corruption wherever I find it. Though most notably in the political arena, I do occasionally venture into o...
Rick Redding over at thevillevoice has been following the Southern Belles occassionally this season and posted his last (according to him...
You know you would think by now Katie would realize she needs to change her ways and be you know more Judgelike, or mature, or at least res...