Cash Rewards Inc.Cash Rewards Inc Is A Scam.

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They claim to give back cash rewards on real estate that you have bought or sold after a (3) year waiting period and after you have completed the proper application and paperwork. They have made it almost impossible to be able to please them with their paperwork.
I was suppose to get back $10, 00.00 but was denied because they said i did not provide proper proof of identity, which is false. i had a 2nd one due this year as well that was denied again this time for not proving address. again a lie. they have cheated me out of $22, 000 and i have hired an attorney to sue for the monies owed. He believes this is fraud as well as some other things and that we have a good case and we may even pursue a civil action suit.

if you have been a victim, please keep posting here so we can all get what is owed to us.

file complaints with your attorney general, BBB and everyone else you can. we need to shut them down.

More Cash Rewards Inc. Complaints & Reviews

Responses

  • Ju
    JUANITA Dec 03, 2008

    I never order this program. So i told them to put my money back to my bank account they never did i can, t even login to this account

    0 Votes
  • Ev
    evs3939 Apr 27, 2009

    I have been scammed too. I would like to join your group to try and deal with Cash Rewards, Inc. I have been emailing the owners of this company and they have not responded to my emails. I sent my redemption certs last November 08 and I was told in January 09 that I should be getting my money on March 15th, it is now almost May and I haven't gotten my money yet. My husband and I were counting on the money which is supposed to be $20, 000. My real estate agent tried to call them, too, but they have not responded. He things they closed. How can we check if the business is already closed? I am ready to file a complaint with my attorney general here in California.

    2 Votes
  • Co
    Cookiem May 04, 2009

    I am also a victim of the company, very similar story, I complied with their ridiculous rules and at the end, they still reject me for no good reason.
    Here is my contribution, i found out the names of people who run/work for this company, hope that helps.
    Linsey Maloy
    Erin Krachenfels
    Jon Krachenfels
    David Maloy

    2 Votes
  • Co
    Cookiem May 04, 2009

    Please let me know how I can file a complaint with attorney general in California. I would like to get justice here.

    Thank you.

    3 Votes
  • Ml
    MLB$Player Jun 12, 2009

    June 12, 2009

    It seems by my experience as well that this is a less than ethical entity. It is my intent to pursue this through escalation of the highest and most public manner available, and will be pursuing all legal remedies (including all expenses) thereto, of parent or holding companies, their officers, and certain individuals.

    You read that last part, Linsey? Jon?

    1 Votes
  • I'm on board with that! We as tax paying citizens can not allow them to just walk with the cash.

    2 Votes
  • Jl
    jlf Jul 13, 2009

    I have a complaint against Cash Rewards as well. sent my paperwork in 3 years as requested and it came back return to sender. address was correct. I would like to be part of any lawsuit action taken, I am very upset and angry. Jennifer Friedrichs

    3 Votes
  • Rh
    RHA Jul 14, 2009

    Just had our certified envelope returned as "REFUSED, BOX CLOSED" via USPS. This is a scam and we are filling out the USPS form PS Form 8165, Mail Fraud Report, to deal with scam. The company we started this with, Cope & Mcphetres, Inc., Rocklin, CA is bankrupt and out of business after 26 years. The whole deal is suspect with a PO Box in Ohio with Cash Rewards, Inc. being set up in Texas. RA

    3 Votes
  • Da
    David Maloy Jul 15, 2009

    I am the owner of the company and would like to comment on all your speculations. The following are the facts:
    1. We have paid millions in claims.
    2. We have filed bankruptcy due to the fact that hun dreds of our clients could or would not pay for their certificates they issued. (Cope and McPhetres is one).
    3. The impartial third party administrator (Resolve Corporation) was sold and closed our account in one week! We asked for all mail to be forwarded and it was not.
    4.I can be reached at [email protected] I am not hiding from anyone or anything. I am a tax paying citizen too as one of you stated.
    5. I was scammed by many of your agents, businesses, etc. when they refused to pay for many of your certificates and when many of the businesses went bankrupt and could not pay us guess who they pointed the finger at??
    6. I have been fighting cancer for 5 years and medically retired back in December. I have answered many of your emails and calls from my bed. I invested six figures of my savings so I could keep my business open long enough for my employees to find work elsewhere. I continue to pay their health coverage.
    7. I have perfect credit, paid my taxes and did not get 50 billion dollars to help me when the economy went to heck.
    8. I have to face my daughters and neighbors every day and answer some very painfull questions. This may make many of you happy.
    9. I have Leukemia and Chronic Graft vs. Host Disease so if you are thinking on starting more gossip or sending in more troops to get me...don't waste your time...time is short!
    10. I am a disabled veteran and left parts of my body in places most of you can't pronounce much less spell. That doesn't mean much to any of you but it does to me.
    11. I signed checks for millions of dollars to people that properly claimed and their sponsor paid their bills.
    12. Yes...I am terribly sorry that many of you did not receive your gift. Ask your sponsor and any of those that know me will tell you that I am an honest and honorable person...I was raised that way and have raised my children accordingly. This is my first failure and hopefully my last. My wish for you is that you can somehow move on and accept my sincere apology for the stress I have caused you.
    13. Take care and pray for your troops and your country. They need your thoughts and energy much more than I do.
    14. If you have any further questions I can be reached at [email protected] I am not hiding out as I stated earlier. Also, in closing I would also like to clear up a couple of other statements...my daughter is not a whore as you posted(never understood what type person could make such a random statement), you called my employees horrible names as well...they were (are) all great people and devout Christians, you wished that me and my family were dead (be careful what you wish for!)...Karma is a bit-h!, ...for those of you that made those statements...please email me and we can meet somewhere and discuss further.

    Respectfully,

    David

    0 Votes
  • Wa
    wakefirst Jul 16, 2009

    David,

    Very nice of you to make a publis statement and sorry for your life long struggle. Maybe sleeping in all of our cash will help you feel better. After all that is the American way right. Collect as much as you can and screw everyone along the way. Just another Madoff feeling entitled to someone elses hard earned cash.

    2 Votes
  • Cp
    cpandjm Jul 16, 2009

    David, bravo, bravo! Wow that sounded very good! That's all too bad and very sorry but that gets me no closer to my money.
    Here is my point, I sent in my info three years ago and your company at that point knew I had a certificate right (I have the certified mail reicept) ? At that point if Cope and Mcpheters didn't pay for my certificate why wasn't I and others notified of this? Unless you and Cope were in on the scam or your accounting is that lame!
    Now should I go into all my personal problems and the reasons I should get this money? It is tough for everyone right now but roles revervsed and I had made one mistake in my paperwork or not waited the full three years would I have gotten my money? I think NOT!

    2 Votes
  • I did notice Maloy on Facebook with both thumbs up sitting in a mazerati, or porsche(some high dollar sports car) in front of a towering mansion . Then the following day another happy smiling picture, looked like a marina setting, then again day 3 standing smiling with his ridiculous looking shirt on. Must have lots of time to just keep changing your picture, I mean who has the time to keep looking at themselves and who really would want to be so full of themselves and show us his album full of photos.. Excuse me while I go and PURGE!!!
    My real estate agent did pay her high fees, how about manning up and giving us our money with full faith and credit you so called devout christian. Don't you even try to put yourself in that category of a caring individual with spiritual ties and moralistic patterns of the right way to live life and treat people.
    Just shell out our money and let us move on, we earned it, its ours.

    2 Votes
  • Jm
    jmandcp Jul 17, 2009

    I would like to be involved in legal actions being taken against these companies. I don't believe there was ever any intention of making good on this. I want my money and I would like to see these people that scammed so many people behind bars.

    2 Votes
  • Dg
    dgrentz Jul 17, 2009

    Dear Mr Maloy
    If you are not hiding as you stated then why would you never provide the proper address to have you served? I asked for months for that, you guys threatened me with huge lawyer fees and told me how stupid I was for suing you. You even told me once that "we have received information you may have been awarded the money" another attempt to get me to go away. You guys did not even have the decency to show up for a court appearance, which you lost do to no show. Stop me anytime you want to interject about your honest company. You scammed hundreds of people out of money, when we asked for answers all we got was, "we are looking into it" "I will have our customer service get back with you" or "Resolve is working on this". And now you come up with this excuse, "O poor me". You have never dealt with me honestly, I can only pull from my experiences but I bet you are lying about paying out the money at all to anyone. You have lied to me about trying to resolve this when you were actually filing bankruptcy. I do not believe a word you say, as probably most people you have ever dealt with. I did enjoy your comment about Karma, when you were screwing so many people out of their money.

    2 Votes
  • Ow
    Owed$12,000 Jul 20, 2009

    My husband & I are just learning about the bankruptcy. Conveniently, we'll be in downtown Dallas tomorrow and plan to stop by 1100 Commerce street. If anyone has any information on how to join a class action or be added to the list of creditors, please list the information.

    3 Votes
  • Se
    seeinred Jul 22, 2009

    The same thing happened to us that everyone else is describing. Bought our boat three years ago from Cope and McPhetres in Rockin, sent in our package at the beginning of July and it was returned. We're filing a proof of claim, but we will all probably be at the bottom of food chain. This ### likely owes a whole lot more money than we know about. What a creep!

    1 Votes
  • Da
    DallasComplaint2009 Jul 22, 2009

    Looks like this thing is blowing up. securities fraud?

    http://davidmaloyscammedus.blogspot.com/

    1 Votes
  • Ow
    Owed$12,000 Jul 22, 2009

    Part 2 of the bankruptcy hearing is tomorrow (Thursday). I couldn't believe that he openly admitted that he "trashed" all his records. Unbelievable.

    1 Votes
  • An
    Andrew B. Jul 25, 2009

    WTF. We are just about to send in our package next week, 3 years after we had our real estate dealings. Has anyone gotten any money back? I was counting on this money and could surly use it. Definitely didn't like the idea about sending in my certified birth certificate. Tell you the truth, I thought it was a scam from the beginning, but I want in on the class action also.

    1 Votes
  • Em
    emurf49 Aug 07, 2009

    Just called myself - go to: http://www.txnd.uscourts.gov/ then "forms" and fill out a B10 form. Mail the original with a copy and they will send us back a stamped copy for our records. lets all get on the train here and make this ahole pay!!!

    1 Votes
  • Em
    emurf49 Aug 07, 2009

    PS - You have to dig around for the form but heres the direct link: http://www.uscourts.gov/bkforms/bankruptcy_forms.html#official

    1 Votes
  • Gh
    Ghostryder Aug 07, 2009

    Like many others here, I also just found out about this ### company's bankruptcy filing by googling Cash Rewards after I received notice that my redemption package was "refused" at the PO box in Ohio. I just got off the phone with the bankruptcy clerk in Dallas and she told me that the case is currently classified as a "no asset" case, which means that Cash Rewards and its scummy owner David Maloy has nothing to liquidate to its numerous creditors. This sucks since I have been waiting 3 years for $20K. Anyway, the bankruptcy clerk advised me to write the court requesting to be added to the list of creditors (at the address noted above) so when the court trustee takes action (the court is waiting for the trustee's report from the July 21st hearing) and it is determined that there are assets to distribute, we are all to file a proof of claim. Good luck to all the others who have been scammed by this company.

    1 Votes
  • Ke
    kevincole Aug 07, 2009

    Mr. Maloy, You took some time to attempt to explain away your part in the fraudulent practices of your company. Allow me to rebutt your points.

    "1. We have paid millions in claims."

    Doesn't matter. You still have not redeemed my properly filed (and paid for) certificate. In fact, the document mailer sent was refused without being opened.

    "2. We have filed bankruptcy due to the fact that hundreds of our clients could or would not pay for their certificates they issued."

    That's total BS. The terms of redemption clearly state, "The ITPA will not be obligated to pay any claim if ... (ii) thet Sponsor failed to pay for the Certificate or otherwise breached its agreement with CRI."

    So, if your clients didn't pay for the certificate, you were not obligated to pay for it. What happened to all the money that WAS paid in by responsible clients for valid certificates?

    "3. The impartial third party administrator (Resolve Corporation) was sold and closed our account in one week! We asked for all mail to be forwarded and it was not."

    BS, again. According to other, more reliable information your PO box was shut down as part of your bankruptcy filing.

    "4.I can be reached at [email protected] I am not hiding from anyone or anything."

    So? If I email you with all of my documentation, will you be sending me the $10, 000 redemption? Doubt it.

    "5. I was scammed by many of your agents, businesses, etc. when they refused to pay for many of your certificates and when many of the businesses went bankrupt and could not pay us guess who they pointed the finger at??"

    Who is pointing fingers at whom here? Again, your conditions clearly state, "The ITPA will not be obligated to pay any claim if ... (ii) thet Sponsor failed to pay for the Certificate or otherwise breached its agreement with CRI."

    Therefore, unpaid certificates are not eligible for redemption. We're asking about all of the money that was paid by responsible businesses. Where did that go? We KNOW you weren't paying out every claim, even those that had been paid for and had valid documentation. There should be plenty of funds to honor your agreements.

    "6. I have been fighting cancer for 5 years ..."

    So? I'm very sorry for you personally, if this is true. But, this has nothing to do with the $10, 000 that MY family was expecting.

    "7. I have perfect credit, paid my taxes and did not get 50 billion dollars to help me when the economy went to heck."

    So? The economy should have nothing to do with the supposed escrow account you would be holding for all of the money paid for valid certificates. And, you would not need a federal bailout package. Again, this has nothing to do with the $10, 000 that MY family was expecting.

    "8. I have to face my daughters and neighbors every day and answer some very painfull questions. This may make many of you happy."

    So? There may be a little satisfaction in knowing that you will encounter some negative consequences due to your irresponsible and possibly fraudulent behavior.

    "9. I have Leukemia and Chronic Graft vs. Host Disease ..."

    So? Again, sorry for you personal problems, but they aren't relevant to your business contracts.

    "10. I am a disabled veteran and left parts of my body in places most of you can't pronounce much less spell. That doesn't mean much to any of you but it does to me."

    Wow ... you can sure attempt to pile on the sympathy vote but ... still irrelevant to your business dealings.

    "11. I signed checks for millions of dollars to people that properly claimed and their sponsor paid their bills."

    I know that my sponsor paid his bill (a very honorable, decorated, former miliary man himself). And, I properly registered and attempted to redeem my certificate with all of the very specific information required. You failed to sign checks to me and many others.

    "12. Yes...I am terribly sorry that many of you did not receive your gift. Ask your sponsor ... will tell you that I am an honest and honorable person ..."

    ...uh, nope. I did ask my sponsor and the conversation was more along the lines of "filing a complaint with the State Attorney General" and "starting proceedings to file a class action lawsuit" ... he must have forgot the part about how honest and honorable you are.

    "13. Take care and pray for your troops and your country. They need your thoughts and energy much more than I do."

    What does that have to do with anything? Being the son of a military man, I pray for our troops everyday. Your continued pathetic pandering for some kind of sympathy based on your former military service and the current service of our troops is sad, disgraceful, and disrespectful.

    "14. If you have any further questions I can be reached at [email protected] I am not hiding out as I stated earlier.

    I will have other people do the reaching out - starting with the Better Business Bureau, the Texas State Attorney General, the Ohio State Attorney General, and whatever other legal recourse I and others can bring to bear against you and your company.

    2 Votes
  • Da
    David Maloy Aug 11, 2009

    It seems like cinderella has too much time on her hands. Many of your merchants did not pay for your certificates Cope and McPhetres for example. I'm really tired of trying to explain how the company was destroyed. No one mentions the millions we paid to consumers. Everyone prefers bad news to good. One of you even mentioned my ugly shirt. Wow...a real piece of work. Some of you have even browsed my facebook and commented on my cars, boats, etc. Although the pictures are a few years old...I love them. I recognize many of you after reading some of your comments and remember talking with you. Daniel Grentz in particular. You were never approved like many on this toilet stall wall. I posted my email address...the bankruptcy date...case number...my phone number, etc and many of you state that I am in hiding! I always return my emails and answer my phone. Anyway, I have spoken with many people just like yourselves with one exception...they have class and they do not hide behind some faceless blog. I have helped all of them get on the list and if and when the trustee finishes collecting from the people that did not pay me, it will be disbursed accordingly. For the rest of you...keep up the good work. Life must really suck for you! I will not read your words of wisdom any longer. It made me so thankful for my life and family at first...now it makes me sad for so many miserable people like you. I am available to speak with any of you. As you stated I have nothing better to do than cruise around in my fancy cars, wear ugly shirts, and cruise the world in between my cancer treatments twice a week. Take care.

    1 Votes
  • Bb
    Bbettger Aug 11, 2009

    Same hear, Cope and McPheters, did everything right . Screwed again! I would love to be in on any law suit that comes around. I dont even care at this point if the lawer gets all the money as long as anyone connected to this company is on the street.

    1 Votes
  • Rh
    RHA Aug 11, 2009

    Mr Maloy, why did you not contact me 3 years ago to tell me that Cope/McPheteres did not pay for my certificate that you issued. We waited 3 years after we registered with ITPA, the escrow account, to find out that CRI, Inc & Cope filed for bankruptcy. FRAUD. You need to spend time in Texas prison, not in Club Fed. TX Atty Gen, prosecute this locally, not federally. He is a fraud, deserving of local grommet stretching, not at a fed golf course, while his money is hidden off shore where he arranged to hide the money. This fraud was all prearranged prior to our involvement. Check his sales pitch to his people. "Only 10% of the people will correctly respond". That means 90% of the cash we will pocket. FRAUD. RHA

    2 Votes
  • Ch
    ChrisN Aug 13, 2009

    I am supposed to send in my redemption paperwork at the end of August and now I see it is pointless. I have printed out the "Proof of Claim" and will send it in. Has anyone contacted the attorney general and do you know if we should contact the one in Texas or California?
    This just sucks!!! I really needed that money and looked forward to getting it.

    1 Votes
  • I am also interested to know if anyone has contacted Compass Bank or Bank of America to see if Escrow accounts were really set-up in our names to hold this money...How frustrating! I felt the last three years this was too good to be true but held out hope, was really trying to pay off my car...Also, are any of the companies who sponsored this responsible as an effort of good will? It would be interesting to gain perspective on how many of the sponsors really did pay in...If each our sponsors paid and has proof, then the fraud is on Cash Rewards...If not, maybe the sponsors need to come forward (highly doubt sponsors didn't pay)

    1 Votes
  • Je
    Jeffsmith Aug 14, 2009

    Like so many other here, I have received my packet for the $10000 Cash Rewards back from the closed PO box. I have to say kevincole stated it very well. I wish I had the ability to articulate my thoughts as well! If the certificates were not payed for, Cash Rewards had no obligation to pay! So how is this the center of David Maloys Bankruptcy? My guess is it had to do with spending more than he had... Money in an escrow account BS, I've used escrow before and it doesn't just disappear. Please keep us informed of anything

    1 Votes
  • Ma
    Malibu JT Aug 16, 2009

    Wow, This just came to my attention for the first time today. We were not due to send in our certificate claim until next year, and had planned to use the $10K for my son's wedding. this sucks!!! Filing with the bankruptcy court is all well and good and we all should, but I doubt anyone will see a dime on the dollar. I do think we need to press this into a criminal complaint not just civil, as this company is clearly committing fraud and possible multi state money laudering and securities fraud. I have a friend who had a similar situatation happend to him several years ago and that CEO got 10 years in fideral prison, for a much lesser offense. If anyone knows of the proper criminal complaint filing platform please confirm, it seems to me that sense this is multi-state that the feds should be involved not just the Texas or Ohio AGs.

    2 Votes
  • Di
    DianaDouglasCalifornina Aug 18, 2009

    I too, like many of you, had my package returned as refused last week. I was really relying on the money. But now it appears we will not get one dime. How can one find out if Cope and McPheters paid their part of the certificates? Our store were we bought our boat when bankrupt. So not sure how to find out?

    1 Votes
  • Qo
    qofkn Aug 18, 2009

    We had no idea that this was going on. We got our package returned yesterday and were not happy as we were supposed to get $8700. We see that many of you are in the States. It's not just multi-state but also international as we are Canadian citizens and entered this program through our Canadian real estate agent. We are not sure what our standing is at this point. We'll have to contact the bankruptcy attorney and hope for the best.

    1 Votes
  • Ro
    Robb Aug 19, 2009

    Wow, I just found about this today and feel like a real ###. I had a feeling that this was too good to be true but was convinced by copes that it was for real. I will be calling master craft in the morning and letting them know as well. The 10 grand I was counting on would sure be nice. Lets get this cry baby. Weird that he speaks about karma though because it seems to have got him.

    1 Votes
  • Jl
    jlf Aug 19, 2009

    My cash reward is with Cope & Mcpheres, Mastercraft as well. If anyone finds out any information about what we can do, please let me know. I am torn between filing a claim with the Texas Bankruptcy Court for David Maloy's company or filing a civil action against him. need some advice, I dont want to just walk away from this. We were promised our rewards and we should get it.
    thanks.

    1 Votes
  • Ja
    JannaW Aug 26, 2009

    My cash reward was returned "refused". I didn't know they went bankrupt. I am a single parent who has raised her two children and sent them to college. I have been hit hard like everyone else in my 401k. I wanted to take the $5, 000 and pay off my car (received the certificate at Park Cities Dodge). I really struggle to prepare for retirement and this just puts me more behind. I have had numerous medical issues as well. All you good people deserve your dog gone money! Reading your stories really touched me. I have never sued anyone before but I am ready now. I would join a class action suit as well. I bought this car in good faith and met with Cash Reward people at the dealership. They promised me in person and by signing the certificate that I would get paid. Thanks for the help on the website to file a complaint. Keep me updated if anyone gets through to these people.

    1 Votes
  • Up
    upset canadian Aug 28, 2009

    I have just been informed by my real estate agent ( August 25) of this scam as our CASH REWARDS just came back as well. They don't seem to be too concerned and asked me to keep them posted if anything develops- they don't even have a lawyer involved- which certainly doesn't give me much hope in attaining any of my $20, 000 owed. I notice these posts seem to be a month old or so. Does anyone have any recent information or news on any developments- I'm up in Ontario Canada ??? So sad- my family was really counting on this money as I'm sure a lot of you were as well

    1 Votes
  • Ma
    malibu2006 Aug 31, 2009

    Does anyone know who the owners of Cope and McPheters are? I was going through my Cash Rewards paperwork last night, when I felt uncomfortable sending in my Birth Certificate and decided to do a little research. Shocked to find out that I will not be getting any money based on the complaints on this site. I feel like both CRI and in my case Cope and McPheters are responsible as I was sold my boat with the sales staff telling me it was a manufacturer rebate. I am definitely going to put my name on the list for Texas bankruptcy of CRI but does anyone know if there is any recourse against Cope and McPheters????

    1 Votes
  • Ma
    malibu 05 Sep 01, 2009

    Well, I guess we shouldn't bother sending in our claim form... If it's true that Cope and Mcphetres didn't hold up their end of the bargain, then they are culpable as well. However, my husband actually spoke to someone at Cash Rewards three years ago to make sure we had the necessary paperwork, and we were never told that Cope and Mcphetres weren't fulfilling their end of the bargain. That constitutes intentional fraud on both Cash Rewards and Cope and Mcphetres part! The gentleman that my husband spoke to and received correspondence from is Jim Atkins, who sent us a response to our query identifying himself as the Chief Operating Officer of Cash Rewards. Where is HE now? I will be looking into the owner's of Cope and Mcphetres, they should be held responsible as well as Cash Rewards.

    1 Votes
  • Ia
    Iaccarino Oct 01, 2009

    I have just received my rewards envelope REFUED... spoke to our agent and he said to google the cash rewards inc and find the bankruptcy information... does anyone know what to do now?

    1 Votes
  • 20
    2006MalibuSSLXI Oct 04, 2009

    I am sending my forms in tomorrow for my 2006 Malibu, with Cope/Mcpheters - Ultimate Water Sports out of business and now CRI, I am not optimistic but it is worth the >$10 to try. I will be monitoring this site for more info and pursuing the Texas bankruptcy of CRI

    1 Votes

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