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EWI & Conrad Acceptance Corp.Intention to defraud & failure to disclose company's &No way Out& program policy

My friend and I attended the EWI August 7-9, 2009 boot camp in Anaheim, CA. I wasn't planning to sign up but the speaker, Jeff Schnitter clearly delivered a convincing speech that everyone who signed up for their mastery program and attend the boot camp in Indianapolis, Indiana will definitely recoup whatever they paid for the program because everyone will get financed in their real estate deals that will be done at the boot camp/field training August 28-30, 2009. Result: No field training, No deal, and No financing (it was only on the third day that we were told to use the internet to search for Hard Money Lender.

The worst part is during the August 7-9, 2009 Anaheim, CA boot camp - signing, we disclosed to EWI representatives that we are unemployed and have no means to pay for the contract, yet they enticed us to sign up anyway with the assurance that we will get our real deals financed and the full cost will be paid within 60-days. Also, no EWI rep explained or disclose their Contract's "NO WAY Out" policy. In other words, once you signed up, you are obligated to pay them tens of thousands of dollars whether they deliver or not. No option to withdraw after the first 3-business days. Also, none of the so-called instructors or consultants would give their contact information. EWI claimed that they provide real estate investment education but they actually are scammers and prey on small investors who aspire to start their business with the hope of having access to financing without too much hassles. Universities, colleges, and schools give their students enough time to withdraw and issue refunds, but NOT EWI. EWI disguises as a legit company providing training but in real sense it is a vulture that devour on individuals' hard earned dollars (heartless, no conscience, inconsiderate, & greedy). May God rebuke EWI's employees and may they pay huge for their greed and crime.

Responses

  • Gr
    greater clarity Sep 18, 2010
    This comment was posted by
    a verified customer
    Verified customer

    Thanks for posting your sad story above; unfortunately, I think I can best you with a truly a tragic tale of epic proportions.

    I credit my wife's wacky and wild 2009 experience with the Conrad Acceptance Corp and Enlightened Wealth Management (EWI) as being the seminal critical event that plundered tens of thousands from our family estate at time of greatest need; this same experience was ultimately the lynch pin event of marital distrust and economic misfortune resulting in my marriage separation leading to divorce soon thereafter; and the traing debts were a contributor of my wife's recent personal bankruptcy (chapter 7, no assets bankruptcy) in April 2010.

    Nowhere are the words Caveat Emptor (let the buyer beware) more appropriate than with the EWI training and siren song of elysian fields of gold and prosperity just over the next hill. Oh that others read this and avoid this same fate with EWI and Conrad et.al. My observation is that there is only one set of millionaires made at the EWI trainings -- the trainers themselves and the organization they represent.

    On background, my wife and I lived a good and prosperous life until the collapse of Lehman Brothers in September 2008. Prior to the market crash, we had nice homes in the suburbs of a major metropolitan city and a lake-front property at a mountain resort community; life was good. Unfortunately, my consulting business was largely funded by work paid for with municipal tax-free bond financed construction projects that substantially locked-up of the municipal bond markets in late September 2008. Indeed, within a week of the crash, my business pipeline of contracts and identified opportunities froze up by 85%; stop-work orders, contract cancellations, etc. Within weeks we were living on savings, and living largely on savings would be our practice for the next six months until the economic freeze started to thaw and a few projects were released to start-up again.

    It was during this difficult period of economic calamity (of living on savings) that my wife trolled into, or was trolled into, by the Enlightened Wealth Institute (EWI); I am unaware of who contacted who first. At any rate, while I was on business travel, when my wife attended a free taster-session of the EWI foreclosure training, and she was hooked --she later declared that the EWI training was a godsend, exactly what we needed to be doing to restore rapidly the lost income and rebuild our financial future. Well it must have been an excellent seminar because without my knowledge, my wife borrowed funds and signed up for the first two trainings: around $16-$18k in seminar tuition, plus travel for training in Indianapolis, and next Los Angeles. Needless to say, I was furious for many reasons, particularly since we were living on savings and draining the 401k. However, my wife thought this was the best experience of a life time, a real blessing, and I agreed to attend the Indianapolis training together to learn more about what was going on, and what my wife had gotten us into.

    The Indianapolis EWI experience was generally good; however there was no written curriculum passed out, nor were there many take aways, however there were some electronic tools provided that had some value. After the training, I felt that I could have picked up the data anywhere, even the Internet, but it was well organized and thought out;. Further, I could see technical merits in the real estate foreclosure market acquisition and recurring monthly revenue approach they were suggesting, particularly if you had funds to purchase the foreclosures. I decided to talk to others at the Indianapolis training -- they all seemed to pay about the same amount as my wife paid (approximately $8k-$9k per training, perhaps a discount if you bought a bundle of training all at once). Then I asked one attendee what he thought of the training and I learned much; he said, "oh I just love their training, I think after this training I will have the confidence that I need to do my first deal;" I said, that's great, how much have you paid for training thus far, and he said, $52k. My jaw dropped. And then the bell went off in my head -- the only guaranteed millionaires to be made here are the trainers and their parent organization, and they were raking it in.

    During the training, you guessed it, they sold more training. My wife and I were pitched on purchasing another $16-$18k of training; and I said no. They appealed to my pride to get a potential sale, with words like, "only if you had no money should you not sign up for this additional training -- it is that good"; I told them that I had money, but that I would not sign up for more training. While in Indianapolis, I made my wife promise, and she agreed, not to purchase any more training. Undeterred, however, the EWI salesman/trainers support team continued to work on my wife out of my presence and encouraged her to sign up for the additional training, with words to the effect of "the opportunity is so time-sensitive, and the learning curve so steep, that only with our cross-walking you through the steps will you be able to make the steps needed to capture this market;" and she was again mesmerized by their siren song of quick riches, and my wife obligated yet another $16-$18k (for two to three additional trainings), brining the total to around $32k-$34k for training fees, plus the additional travel costs (unknown) to get there. In addition to this, like the complaint above, they appealed to my wife's vanity and pride, and told her that they were impressed with her, and thought she would make a good candidate for their by-invitation only mentor or protoge program, costing another $9k-$12k for this select accelerated program; and she was hooked, and borrowed additional monies to purchase these trainings. When she ran out of family and personal resource to pay for the trainings, she used the funding of Conrad Acceptance Corporation to make up the difference. However, I knew none of this for 30-days.

    After the training in Indianapolis, my wife soon traveled to Los Angeles, Kansas City, and Atlanta for more trainings. At first I thought it a good sign that my wife had talked the training salesmen to let her audit the additional seminars in Kansas City and Atlanta; but 30 later I learned that no discount or comp training was given, but rather my wife had actually paid for the additional seminars, obligated more family money, after she made a commitment to not purchase any more training -- and that was it for me; the trust was broken wide open again, and my wife was so convinced and mesmerized that the EWI training was the surest and fastest way to rebuilding millions of wealth that she was willing to pay anything for the knowledge, even her marriage. Oh there were other problems in the marriage but we were still a couple before EWI training, but EWI salesmen had gotten between husband and wife, divided us and separated us, and this experience signaled a tremendous chasm of beliefs and commitments in our marriage; and we were done.

    However, my soon-to-be-ex wife's story is not done. One year later, on April 30, 2010, my wife filed for personal bankruptcy, chapter 7, including many debts she incurred in a 60-day training window in the spring of 2009 with EWI and Conrad Acceptance Corporation.

    Now I am not blaming EWI for my failed marriage, though I would say that their selling my wife training after I had told them absolutely not to buy additional training was destructive and not helpful;. What I am clearly saying to others is that the EWI program, its puffery and sales tactics to prey on the weak, has upset my life and marriage, and has ruined my wife's life now in Chapter 7 bankruptcy, was a contributor and proximate cause of the pivotal incident that resulted in my separation leading to divorce.

    So in summary, Caveat Emptor.

    0 Votes
  • Lo
    lovechops Dec 02, 2010

    We also purchased several programs back in [protected] spending tens of thousands and gained nothing-Period. My wife at the time got sucked into the program. Don't get sucked into their sales pitch. You will only be throwing your money away.

    1 Votes

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