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  #1  
Old 08-12-2011, 10:00 AM
LadyRaptor LadyRaptor is offline
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GID Group in Grand Prairie, Texas

If you have had any dealings with the GID Group Inc., then you know that Roger and Rodney Wagner are lying.

These gentlemen sat down with my husband, myself, and a family friend in their dining room last year in September, 2010, and told us that any investments made in their platform were guaranteed from losses through a trust account that they had at the Jackson Law Firm in Dallas, Texas.

Their scam is that they will take your principal and pay you out at 5% per week for 20 weeks and 10% per week for the remaining 20 weeks.

I put in $10,000 personally into this group and, surprise, surprise, after the first payout of $500, we were told that they were closing the platform because of a State Securities Board investigation.

The excuses since then have been tiring and getting more and more lame as time marches on.

These guys put themselves out there as good "Christian" guys. That's not quite the case.

Linda Holt with the State of Texas State Securities Board is investigating these matters currently for the filing of criminal charges. Her telephone number is 713-426-0336 and her e-mail address is LHolt@SSB.state.TX.US.

In addition, Shane Allen from the local NBC news affiliate is investigating this as a news piece. You can contact him directly at 817-239-1797 or via e-mail at Shane.Allen@nbcuni.com.

I'm sure that both parties would be very grateful to hear your experiences with these two people.

DO NOT GIVE THEM YOUR MONEY.

They have been doing this a LONG time and they're not ready to stop now.

** the way, if you also received a letter from the GID Group's attorneys, The Jackson Law Firm in Dallas, TX, stating that they were holding funds in trust for GID, I would suggest finding out who their E & O insurance is with and filing a claim.


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Old 09-19-2011, 09:32 PM
ontopofit1 ontopofit1 is offline
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Re: GID Group in Grand Prairie, Texas

I and several other people I know have invested in these two. We put our money in around Oct. of 2010 and were told less than a month later that they were being investigated. We know have found out about that millions of dollars have been withheld from 'GID group' in what looks like an apparent scam.

I admit that we were a little ignorant in doing this but they appeared to be really good guys. They claim the money will be payed out at the end of this month but I've heard this at least 5 times before. Would like to know if any more is known about the scam?



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Old 09-19-2011, 11:01 PM
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mumbles mumbles is offline
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Re: GID Group in Grand Prairie, Texas

sorry to hear about you two losing money. this sounds like the classic ponzi scheme. there isn't any money invested anywhere that can or will be paid to you at end of this month or any other month. in a ponzi scheme, the money from the new investor is used to pay the fantasy rate of return for the older investor and the living expenses of the operator(s) of the scheme.

in this case, they apparently didn't find enough new investors in time to make the interest payments, so had to fold.

you should be able to claim a tax deduction for your loss, but i'm not an expert on current tax law. there is also a chance your home owners policy may pay since it is something that happened right in your house - you were robbed.


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