WBFI is a scam that relies on cold calls from Central Europe
to buy a leveraged investment in gold and silver, buyer beware.
WBFI (Wealth Builders Financial International) a so-called precious
metals advisory firm is bankrupt. The owner Judy
Jackson is a con artist and has gone through a number of partners and
employees, cheating them out of
payment and profits, promising generous commissions or shared proceeds
and then giving only half of the promised proceeds or nothing at all.
One former partner had several real estate projects, mostly
fraudulent ones. One scam involved a Romanian property development
where he would get clients from the UK to invest, take the commission
from the sale. The Romanian property owner would take the money but
not build anything. Apparently the Romanian partner claims that all
the money was in his wife's name and she has just died. His property
rental and real estate business in Hungary was failing due to the
economic world recession and he thought he could hustle his way into
gold and silver market by promising good leads for free to Jackson.
Gabriell Jarrod (one of many names he uses) wanted 50% of the
business based on his leads which were worthless. The leads were
free downloads from real estate lists: agents, property investors etc.
Starting in December 2007 when she refused to pay her former partner
and
several employees, she has surrounded herself with street people, some
from the USA. One big black guy they brought in from Philly, was
abusive and crazy, would go out and smoke pot and crack and come back
in and try to close deals, coming into work at her home so drunk, he
collapsed in the coach fro half the day until one of the owners
caught him. They questioned him but wouldn't fire the guy as they
needed his skills so desperately.
WBFI's president and Principal Judy Jackson is an experienced
"loader", a sales
term for someone who takes an existing client and tries to induce them
to buy more. She is well known in the seedy telemarketing and cold
call sales industry. Jackson previously dealt with shady stock sold
in Spain, Costa Rica or Florida. She has a registered business
in the state of Florida under the title of Wealth Builders Financial
International. She has recently branched out to the EU and
is now located in Budapest, Hungary where Jackson has created a clever
shell game of fraud and deception, and selling gold and silver to the
UK and the EU. Wealth Builders is also a registered business in
Hungary. One of the main
reason Jackson left the United States was to avoid criminal
prosecution for fraud.
Jackson gets around many laws by transferring her UK accounts to her
US banks and metals depository, where legal action to reclaim client
losses is harder to locate as they have to file suit in Florida and
not Hungary. The US clients funds are put in a Hungarian account, so
if legal action is sought they have to file suit in the EU.
Jackson employs a metals depository in Miami, Florida called Capital
Asset Management, which is operated by a Cuban who uses the street
name of Carlos. My understanding is that Carlos gets a lot of
his funding from the Floridian Cocaine trade. Jackson enjoys
drugs and avoids legal difficulties by hiring a private Hungarian
doctor to give her injections of so-called vitamins or cocktails,
because of her supposed migraine headaches. Jackson claims that she
is constantly vomiting blood and suffers from stress. I have never
seen her hospitalized, she has her partner Blair simply call the
doctor
and then gets injected with Morphine or Seconal. Some injections were
a mixture of Demerol and other strong narcotics, that knocked her out
for the evening and the next day. I found this out by working her
home for and was asked to stay late to do evening calls to the UK.
When I was ready to leave I saw Jackson on the living room couch and
her pants or skirt lowered and the doctor injecting her with a large
syringe. I also found many needles in their home (I worked in their
home briefly) and she claimed to be a diabetic. I also found
wrappers with a tarry black substance, many containers for Xanax,
Valium as well as Perkaset, all being prescribed by the Hungarian
doctor.
The first week in March 2008, WBFI supposedly had 700 K in excess
equity or
profit from our clients accounts. The owner previously only dealt
with gold and silver, Jackson then decides to go into platinum and
palladium, when it had peaked in price due supposedly to an
electricity shortage in South Africa. She then convinces all
clients to change from gold to palladium, Jackson claims that she is
not even charging a commission for the service. Interesting in that
the first pitch we used to get clients in, was that WBFI
only charges a one time fee. However, in the disclaimer that
is sent the fine print states that WBFI charges a 15% commission every
time a transaction is completed. Palladium is a thinly traded metal
used in the auto industry, the day after she convinces all her clients
to change metals from gold into palladium, the metal loses over $200
an ounce. Her economic genius is astounding, in 24 hours she loses
over a million dollars, putting every client into margin call.
Jackson has lost all the profits from the gold and silver. In the
middle of March 2008 thanks to a huge influx of cash from the US
government and a slightly improved US economy, due to speculation that
the government will put more money in the market place and give
generous tax refunds. Oil tanked and so did gold and silver losing
23% over a week long period
in March 2008. Because of these factors WBFI has now lost value with
the remaining
gold and silver which has gone into margin. Many of Jackson's
remaining clients can not make margin due to the heavy losses already
sustained. Almost all have lost their entire investment, total 6
million dollars from over 30 clients.
Apparently with the metal that is left, she has cashed out all the
client accounts and split, closing her doors............ Setting up
another phone room in another office in Budapest. The owner took
the Easter holiday as cover to close the accounts, not pay the
employees and take off.
Ms. Jackson and her crew are looking for new clients to build a new
book. Whatever you do, do not do business with this firm if you want
to keep your money. My best advice if you want a safe investment,
keep in your money in the bank.
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