Toronto, Canada
November 2007
Dan White of WNBC (World Network Business Club) and Naveed Ahmad Qureshi (Dr. Qureshi of Capital Reserve Investment Group) has mislead us and defrauded us out of our savings. Dan White (DW) and Naveed Qureshi are untrustworthy. They are scheming manipulators, preying on our trusts and ignorance. We are victims of their schemes.
We learned from others that Dan and Naveed has embezzled people of their so called "Eggvestments Program" and offshore bank accounts that he has been setting up for years.
Naveed an executive of the WNBC Business club team, often appeared the weekly meetings in the past. He sat at the executive table with the rest of Dan's team. He was deemed as the financial and Forex investment expert. The investments they solicited ranged from Real estate, Greenfleet car rentals, overseas off shore accounts, and Forex Eggvestments.
WNBC with Naveed advertised these high return investments to entice new club membership. Only members who paid the initial $5350 membership fees are are allowed to participate in these investments. There was a time value associated with the Eggvestments to get the 18% yearly return, else it would be 13% for late members and non-members.
The Eggvestment contract stated " return guarantee of a minimum" of:
18% per annum (1 year investment)
19% per annum (1 year investment)
20% per annum (1 year investment)
10% one year term paid monthly
There were no monthly statements nor update information about the investments provided.
As we learn from hindsight, it is illegal to state guarantee percentage return, set a time value to the investments and not to provide monthly statements. These investments has all the elements of a "Ponzi" scheme - where the investment does generate it's own or outside income. More investors are needed to keep the scheme running. New investors were paying for the current members overdue investments. As the number of new members and their investments drop - the scheme collapses.
http://www.rcmp-grc.gc.ca/scams/ponzi_e.htm
http://www.osc.gov.on.ca/Investor/ScamsFraud/sf_index.jsp
People who realize early the problems associated with the investments tried to get their money out with no success. Naveed and Dan used various tactics to avoid payment to investors. They portrayed to blame each other for lost checks, accounting deficencies, or simply choose not to respond to the investors. There were many promises to return the funds, but all came up empty.
Naveed stopped attending the meetings when more people started to demand their overdue investments. Again, he did not return emails or phone calls. He has been in out of Canada and my be on the run or setting up elsewhere. We understand the he and Dan White are still friends and business partners.
If this has happened to you or anyone you know please email us back. If you have given money to Dan White for investing or offshore banking, try to get it back. Dan might try to give you a check but see what happens when you deposit it into another account. There is no money there.... He says he has lost everything.
We would like to shut him down and make sure he cannot do this to anyone else.
Dan seems like the nicest guy you could ever meet. You would never imagine he would rip you off or take money that does not belong to him. He teaches night courses on how to save taxes and do offshore banking at The Learning Annex. He is also a financial advisor and talks people into putting their money off shore so they can use it and not pay taxes.
The problem is that he is using your money for his own personal use.
After a year of putting money in our off shore account (over $100,000.00) we asked Dan to take out the money. He delayed for weeks and weeks, and finally he admitted he did not have it. He used it in another business adventure and the person he was involved with (Jim Pellegrini of
Before we found out our money was gone Dan also talked us into investing in this new business of his and Jim’s. It was a teaching program that would bring students from
For years Dan has been threatening me not to tell anyone or his wife Debbie, or we will not get anything. He says all his money is in his wife's name and he cannot get to it. He also says his wife will divorce him if we tell her and then we would see what would happen to us.... We finally decide to tell her.... and she says she has been instructed not to talk to us at all. So, we wonder what lies Dan has told her, or maybe she is involved also. The more we look into it, we realize she must be.
Dan and Debbie also have a 200 acre get away retreat called Wolverton Hills. You can have a weekend get away, a day at the spa, Holistic treatment, massages and many other cures. This is where they build your trust and get you to invest with them. It is a dirty business.
World Network Business Club ( WNBC )
We urge you to beware of these scams before considering any business with:
Dan White (WNBC)
Naveed Ahmad Qureshi (Capital Reserve Investment Group)
We do not want this to happen to other people.
We have severely regretted joining this club.
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9 comments:
I've also been ripped off by WNBC and I know of one other person who also lost a considerable amount of money. Can we do something together to perhaps get a portion of our money back or see that at least some form of justice is served?
What a scram artists!
On January 12, 2009, a hearing will be held at 20 Queen street west, 17th floor in regards to Dan & Naveed selling securities without license. This is OSC-Ontario Securities commission head office.
Anyone who is interested can attent,its open to public. Both Dan and Naveed will be there to defend themself.
I encourage everyone who got scammed by them to attent the hearing.
Dominic.
Franklin Danny White owes many people, credit card companies and the governments of ontario and canada a lot of money, evading them for many, many years (over 15 years) and hiding his income from his creditors while he is blatantly spreading how to cheat the government and scam other people by professing to be a public speaker (companies actually engaged him to speak publicly), tax representative (see his wnbc site and click on tax) on tax appeals, people entrusting their books and records to him to fix their financial statements, accounting records and tax returns, offering retreat-like seminars in the guise of business opportunity meetings at the Wolverton Hills, charging participants ludicruous sums of money. He is now using the Bankruptcy and Insolvency Act to ditch his creditors and walk away from his debts, and financial obligations claiming he did not have, and does not have, any income or assets. his assets are registered under his wife's name, so he claims.
PLEASE ATTEND the creditors meeting on May 5, 2009 at the office of the trustee, Harris & Partners, in Oshawa Ontario at 10:30 in the morning. If you can't attend, write to the trustee for minutes of the meeting or write a complaint to the Office of the Superintendent of Bankruptcy, 25 St Clair Avenue East, Toronto.
Good luck.
Just so you are aware they are now working under another name so be aware!! http://taxauditsolutions.ca
Still using testimonials that they accumulated while in business as WNBC. Doesn't look to me that they have any current WOW testimonials.
Wow,
Glad that I added the word "scam" to my search string in Google.
I have attended 2 of Dan White's seminars via the Learning Annex in the past and I'm at a point where I could use Financial Planning/Tax Planning "professionals".
He did look like a decent guy but maybe that's part of the "con" or maybe he meant well, but then things went shitward on him, and everything fell apart for him.
Also found his new company and was going to contact them but obviously will not now.
Anyone know what happened in court to them?
Wow, just found this below, guilty on all counts!
Anyone know what happened during sentencing?
http://www.osc.gov.on.ca/documents/en/Proceedings-RAD/rad_20100210_wnbc.pdf
My life has been destroyed by him. I lost my life savings and retirement....and my marriage.
Ya, he got disciplined with OSC...$700,000. http://www.osc.gov.on.ca/documents/en/Proceedings-RAD/rad_20100929_wnbc1.pdf
He went bankrunpt....asshole and I heard his wife divorced him....she was a nice lady, I met her...his lose...an other one of his victims. He was so cock sure of himself...even in his testimony with Ontario Security Commissions ruling DAN said:
• They [investors] came to the seminars.
• They met people. They knew. They made the decision.
• And so long as they blame me, they’ll continue to have this come into their life, because they’ll just trust the next guru to tell them what to do instead of making decisions for themselves.
• So those people, some of them I feel this is good lesson for you. …
Fuck you.
He screwed us all
If you came to this blog because you searched for "Tax Audit Solutions", just avoid them. I had used them and it was a very bad experience. I definitely will tell you to avoid them at costs.
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