145 inquiries | Securities Investment | Business Alert
(800) 813-1596
http://www.onesourcevip.com
Company Rating
AAA
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Complaint Experience
N/A
Membership Information
This business is not a member of Business Consumer Alliance. This fact does not disparage the company in any way.
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BCA's Summary and Analysis:
Complainants allege the ATM machines sold as investments by the company do not exist. Customers complain they purchased ATM machines as an investment from the company, but the promised returns on their investments never materialized. Complainants allege that checks they received, if any, bounced. Some customers demanded the locations and serial numbers of the machines that they purchased, but the company failed to provide any information. Most complainants report inability to reach the company to request refunds. Most complainants invested between $50,000 and $150,000.The company responded to some complaints by sending dividend checks along with apologies, however, most complainants report the checks sent have been returned as NFS.
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Company Info
This company's business is selling ATM machines as a securities investment.
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Licensing
Before investing money, or making other important financial decisions, verify the company you are considering has complied with State registration requirements.. The DOC maintains a database to verify registrations online at www.doc.ca.gov. Inquiries can be sent by mail to, California DOC, Securities Regulation Division, 1515 K Street, Suite 200, Sacramento, CA 95814-4052. The DOC can also be contacted by phone, toll-free at 1-866-ASK-CORP (1-866-275-2677)..
BCA has no information regarding government actions at this time.
California law requires any company, or individual, selling securities as an investment, to register with the Securities Regulation Division of the Department of Corporations.(DOC). This registration requirement includes; financial planners, broker-dealers, broker-dealer agents, investment advisers, and investment adviser representatives. Careful evaluation of all investment offers should be done prior to signing agreements. Rather than make an immediate decision, insist that the caller confirm details of the offer and all verbal promises in writing. Verify that the offer is registered, or exempt from such requirement, with your state securities commissioner. Limited Patnerships are required to register unless an exemption is filed with the state. General Partnerships, however, are not required to register. Those who invest in General Partnerships may also be accountable for the financial liabilities of the entire partnership. Offers claiming to be exempt from registration must meet specific requirements. Specifically, they must be limited to no more than 35 investors who are: immediate relatives or friends; current investors in other offers made by the company; persons referred by current investors; and to those with the expertise to make a valid decision. Generally, if an offer is sold via telephone, it is an indication it would not be qualified for exemption under current law.
We urge caution! This company operates from a postal drop box. We have no physical address for the company. The 800 number on file is answered by an answering service only.
BCA has no information regarding advertising review at this time.
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