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FindThatMoney.comScam artists

FindThatMoney.com advertises that it has a large database of qualified investors that are eager to invest in a startup company. They have a free service which allows the company to post their information regarding the company inot their database. Then supposedly the investors will see the add regarding the startup company and wish more information to pursue the investment.

The problem with the free service none of the "Investors" that inquire about the investment are able to be contacted unless a premium service is purchased which ranges up to $999.

FindThatMoney.com utilizes an autoresponder system to send out canned responses to the persons seeking investment capital. This I know because I signed up for 3 separate free accounts and receive the exact same inquiry letters to all 3 different signups sent at the same time. An example of a inquiry letter is as follows:

"My name is Clarine Gill, I was browsing this site and noticed your Ad looking for funds, we encourage you to contact us if you already have not found funding.

We are the worlds largest Fund management with over 1.2 Trillion USD Capital Investment Funds. Nevertheless, as Fidelity Funds Manager, I handle all our investors Direct Capital Funds and secretly extract 3.2% Excess Maximum Return Capital Profit(EMRCP)per annum on each of investor's Magellan Capital Funds. As an expert, I have made over 49.8million USD from the investor's EMCRP and here by looking for some one to trust who can stand as an investor to receive the funds as annual Investment Proceeds from Fidelity Magellan Capital Funds. All confirmable documents to back up this claim will be made available to you prior to your acceptance.

Sincerely,

Clarine Gill"

Another one:

"We specialize in long-term venture capital investments in early-stage, seed and already existing companies.

Contact us, I would like to see if we have a synergy to work together. Patrick!"

To date I have received over 60 "responses" in 3 weeks urging me to contact the "investors" but only can I contact them if I signup for the premium service. The problem is that unsuspecting companies desperate for funding of their projects will fall for this scam hoping that at least one of these "investors" will come through.

Responses

  • Ca
    Cam09 Nov 10, 2009

    Same thing happened to me. They scammed me out of 250 dollars. During the free trial I received 10-15 emails saying that they were investors and wanted to see our biz plan. As soon as I signed up to reply the emails stopped and nobody responded. I tried to call their customer service and sent emails and no body got back to me. Total Scam... DONT USE THIS!

    0 Votes
  • Je
    Jenni Lee Nov 10, 2009

    Internet scams or running rampant right now! Don't buy anything from anyone on the internet... it's always a toss up. That person on the other end can be a Hungarian Gangster or a Black Midget... you never know. I had to learn the hard way myself.

    0 Votes
  • No
    Not an ignorant idiot Dec 03, 2009

    Black Midget? How ignorant are you?

    0 Votes
  • Ft
    FTM is a Fraudulent Website Feb 19, 2010

    FindThatMoney is a COMPLETE Scam. There are ZERO success stories about FTM but, plenty of scam stories. I set up a free profile about a year ago and started getting the same canned emails. I had the emails going into a separate folder and I just stopped checking it after I started researching some of the "investor names". None of them were real. This scheme lures you in with a free account, sends automated messages pretending to be from an actual investor but, the only way to contact the person is by paying a fee to the site.

    Anyway one the emails recently came to my inbox and surprise, surprise, it's another canned response. If you've been scammed by findthatmoney.com, you should try to file a class action suit. That may be the only way to end this fraudulent scheme.

    I never payed the fee. I suggest you don't either. Stay away from findthatmoney.com they are frauds.

    Actually investors are not going to troll find that money. The idea may have started out with good intentions but, let's think of this from a business perspective. When they started this website they had neither entrepreneurs looking for funding, or investors. They could offer a value to entrepreneurs if they had investors, and a value to investors if they had entrepreneurs. Obviously it is easier to hook people seeking funding than it is to hook investors looking to put money into a legitimate money making business.

    They probably started marketing to entrepreneurs in the hopes of getting investors to join the community once they saw all the opportunities. Obviously they were not successful at getting any real investors.

    Something every entrepreneur should understand right now is this. Professional investors DO NOT go hunting for deals. They are normally flooded with deals and spend their time analyzing the ones they have. An investor is not going to contact you first. It's simply not worth their time.

    I hope this helps some people save their hard earned money and time.

    0 Votes
  • St
    StaySmart Feb 27, 2010

    Come on people get real. Before you hand over your hard earned money to anyone, always check them out first. It is this simple. For example, go to the bottom of any web page that sells something a click to the Terms & Conditions link. If there is no Terms & Conditions link, turn off your computer and go watch TV. The sight is probably a scam. If there is a Terms & Conditions page, read it.

    The following is the intro paragraphs of the FindThatMoney.com Terms & Conditions. I am not a rocket scientist, but I would never send money to a company based in Panama with unrealistic disclaimers in their agreement. Check it out at http://www.findthatmoney.com/index.php?file=privacy

    Terms & Conditions

    Find That Money - Important Disclaimers and Legal Information

    General Notice and Disclaimer

    This notice and disclaimer applies to the Find That Money Network of Sites operated by Find That Money Inc., a company continued under the laws of the Panama City, Republic of Panama and its subsidiaries, affiliates, assigns, successors and related entities ("Find That Money").

    The Find That Money Network of Sites is an on-line newspaper focusing on financial information. Find That Money does not represent, warrant, or endorse the accuracy, reliability, completeness or timeliness of any of the information, content, views, opinions, recommendations or advertisements (collectively, the "Materials") contained on, distributed through, or linked, downloaded or accessed from any of the services contained on the Find That Money Network of Sites (the "Service"), nor the quality of any products, information or other materials displayed, purchased, or obtained by you as a result of an advertisement or any other information or offer in or in connection with the Service (the "Products"). You hereby acknowledge that any reliance upon any Materials shall be at your sole risk. In particular, none of the Materials is provided on the Find That Money Network of Sites with a view to inviting, inducing or encouraging any person to make any kind of investment decision. Securities or other investments referred to in the Materials may not be suitable for you and you should not make any kind of investment decision in relation to them without first obtaining independent investment advice from a person authorized to give it.

    0 Votes
  • Mc
    Mctv Mar 06, 2010

    hey bros!

    Its always been my style taking time to check all details b4 sending or engaging into this kind of thing. I always take some time like less that a year & try to check the net whether this or that have complaints already. Good thing I discover this forum b4 actually planned to signed up next few weeks. Haha! Tks to u all. its been very helpful.

    0 Votes
  • Mu
    MultiWriter Sep 06, 2010
    This comment was posted by
    a verified customer
    Verified customer

    I actually do find funding for films and green energy businesses mostly and I knew that "findthatmoney.com" was a scam because of the amounts that they were listing that the people needed.

    Someone wanted money for "screenplays" at $25k

    Anyone who's ever made a film knows how much $25K will buy. That's about enough for the coffee and donuts for the crew for the length of the shoot! lol

    Some investment systems do charge an up front fee but that doesn't automatically make them a scam. It's sort of like the bank asking for 20% down when you're buying a house. It can be legitimate but you have to do your due diligence just like with anything. The most I've seen asked for in this scenario is $100, 000 to get millions in funding. Do be careful and if you would like some help looking at something like this, feel free to contact me.

    BUT many investors do not charge an upfront fee.

    You might be asked for a fee for the funding facilitator to put your proposal together so that you have your best foot forward with the investor. The facilitator knows their investor colleagues and know how they like information to be presented to them. For a funding package of, say $30M, some might ask $15, 000 to do the package for you. Small price to pay when you know that it has a good chance to be the first one the investor looks at because IT'S SO CLEAR AND HAS EVERYTHING THE INVESTOR WANTS TO KNOW. And then, if that investor says no, you have a killer package to submit to others, if you choose to.

    Some of my associates do and some don't charge the fee. But that amount is not outrageous to ask for that service as they usually have staff that they pay to help put it all together.

    I don't charge an upfront fee but only a percentage of the total investment acquired, once it is acquired. Usually, that rate is around 5% unless it's a small amount of money (under $1m) and then it can go as high as 10% of the investment. This is termed a consultant fee as I'm not a broker or an agent, just a facilitator.

    I hope that that's helpful.

    Feel free to contact me with any questions

    Lauren Blaine
    [email protected]

    0 Votes
  • Mu
    MultiWriter Sep 06, 2010
    This comment was posted by
    a verified customer
    Verified customer

    PS: I find it kind of ironic that we are over here discussing FindThatMoney.com and about how it's a total scam and then, looking in the google ads connected to this site, there it is.

    LOL!

    Very funny.

    Lauren

    0 Votes
  • Annie in KC Jul 20, 2014
    This comment was posted by
    a verified customer
    Verified customer

    It may have been legitimate at one time, before it was sold. It was advertised in the Wall St Journal, CNN, Money magazine, etc.


    Before the newer owners got this company, I helped a friend who was a cement subcontractor become a primary. I set up his whole company for him, and I got him listed under ccr.gov, so that he could get federal contracts, which is a must if you want to bid big union jobs, such as airport runways, highway and bridge construction bids.


    In that business, you have to have proof that you have the money in the bank for the materials, labor, liability & work comp insurance, everything. Then once you win the contract, you have to pay everything for the parts of the job you've completed each month that you've got done, and once it's inspected and approved, you submit 3 sets of paperwork and get reimbursed.


    I paid FindThatMoney the $250 fee. Of course, you get phony VCs and investors, but you have to know how to investigate them -- check out their website, etc.


    Missouri had 880 bridges to be repaired &/or built the minute President Obama got elected and signed his approval for infrastructure funding. In other words, the funds were signed into being appropriated. Missouri DOT placed the first shovel in the dirt one hour later. They had all of their projects lined up, locked and ready to go.


    The investors had to pay $1, 500 to join FindThatMoney and find us. I ended up with 160 investors, who each had $3-5 million. It was a win-win, because Obama had already signed the infrastructure bill, which meant the money was there. Then FindThatMoney got sold - you never know what will happen when someone takes over a company.

    0 Votes

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