Beware of Green Tree Capital Investments

Pharaoh

Colonel
Messages
19,691
Were they kind enough to tell you that withdrawals could take up to 90 days before they accepted your money, or was that a "minor detail" that only came up when you wanted to get your money out?
 

Scr

Recruit
Messages
8
Questionable posts about Green Tree Capital refunds?

How is it possible that someone posts that rather than the 50% profit shown on the Statements, he/she received only a fraction of the original investment, and others got the full refund and are reassuring the forum that it takes a long time? Something is fishy here! Sounds like GTC is buying some time...

You guys who were defrauded, call the CFTC (Chicago: 312-596-0700), SEC (LA: 323-965-3592), BBB (LA: 909-825-7280) and submit complaints. Get something going before it is too late... Get the names out, here and/or Ripoff Report | Scams, reviews, complaints, lawsuits and frauds. File a report, post your review. Consumers educating consumers., etc. If John Davenport, Bruce Weinstein, Ellana Rosen, Mike Baldwin, etc. are honest people, let them come and defend themselves and hopefully honor the requests for full refunds.
Repeatedly sending about 20% of the amount owed sounds like fraud to me!

You guys who posted that you got full refunds, please post verifiable names and phone numbers of the people who honored your requests!
 

Tom McDade

Recruit
Messages
2
I have serious concerns about Green Tree

I have been with Green Tree since the first of April, 2010. I get regular balance statements from them via email. I used to get good response from Bruce Weinstein whenever I had questions or concerns. I have a very large sum invested with Green Tree and so does my wife. Back in October I started to demand more information about the company and to request more information about our trades. Although we get regular balance updates, Green Tree has never provided any actual trading information regarding what our money is invested in and what positions that we hold at any particular time. I have never gotten any of this information. After having left what seems like dozens of messages by phone and email for Bruce Weinstein to contact me, and having left a large number of the same messages for David Lee who is supposed to be the head of compliance for Green Tree, I finally got a call from a customer service person named John Davenport in early December. I told him how concerned that I was and that both my wife and I wanted to withdraw all of our funds. He sent me their official withdrawal form which we both submitted to them on Dec. 8. He later acknowledged that he had personally received the requests. The documents said that the withdrawal could take up to 90 days but nobody could tell me why. Since that time I have spoken to John davenport one more time in the latter part of December to check on the status of our withdrawal. I call or send email requests almost daily asking John Davenport for an update but he never responds. We continue to get regular updates on our supposed account balances and the values keep going up which means that they must still be trading in both accounts. I don't know what to do.
 

luckyvic03

Recruit
Messages
9
Green Tree Capital experience

The person that was my contact was John Davenport. I had to call him numerous times to get an update on my withdrawal. I think i called him about 20 times and finally he returned my call. I didn't have alot invested with Green Tree, but it still took a long time to get that amount back. I don't remember anything about the 90 day timeframe from the initial conversation so it definitely took me by surprise when they told me this.
 

Harold Crowell

Recruit
Messages
2
Hmmm, I just opened with Green Tree about 3 weeks ago. They started trading my account on 1/25, and by 2/11, the most recent weekly email statement I received, I was up by 11.05%.

But, I suppose it should all be suspect, yes?
 

slier

Recruit
Messages
12
Greentree Problems

My daily statements show nice gains, but what good are they if I cannot get my money out. Since requesting a partial withdrawal 3 weeks ago, they will not even return my calls.
 

slier

Recruit
Messages
12
reply to Tom re 90 days

Tom: Bruce had told me to just send an email request and the money would be sent in 3-5 business days. I sent in my request 3 weeks ago and no one will respond.



`
I have been with Green Tree since the first of April, 2010. I get regular balance statements from them via email. I used to get good response from Bruce Weinstein whenever I had questions or concerns. I have a very large sum invested with Green Tree and so does my wife. Back in October I started to demand more information about the company and to request more information about our trades. Although we get regular balance updates, Green Tree has never provided any actual trading information regarding what our money is invested in and what positions that we hold at any particular time. I have never gotten any of this information. After having left what seems like dozens of messages by phone and email for Bruce Weinstein to contact me, and having left a large number of the same messages for David Lee who is supposed to be the head of compliance for Green Tree, I finally got a call from a customer service person named John Davenport in early December. I told him how concerned that I was and that both my wife and I wanted to withdraw all of our funds. He sent me their official withdrawal form which we both submitted to them on Dec. 8. He later acknowledged that he had personally received the requests. The documents said that the withdrawal could take up to 90 days but nobody could tell me why. Since that time I have spoken to John davenport one more time in the latter part of December to check on the status of our withdrawal. I call or send email requests almost daily asking John Davenport for an update but he never responds. We continue to get regular updates on our supposed account balances and the values keep going up which means that they must still be trading in both accounts. I don't know what to do.
 

luckyvic03

Recruit
Messages
9
I suggest trying to contact John Davenport directly. He was the one that was able to offer some assistance that was actually worth something.
 

steve67

Recruit
Messages
5
Screwed....

My dad of 82 years of age had 'joined' Greentree Capital in early 2010. At the time Greentree had a very aggressive sales staff and was contacting my dad on a regular basis via telephone. With a little research (now we know it wasnt nearly enough) dad decided to give it a whirl. He opened up an account and saw the quick gains, and at that point decided to open more with family money and savings. He opened up an account for each one of his 3 children, as well as an account for his church of over 50 years. About mid 2010 he did a test withdrawal of a minimal amount and received a check in a timely fashion. Bruce Wienstein (CEO of Greentree....??) kept in contact with dad on a regular basis via email mostly. Dad also had contact with Jack Davenport & Illana... who Bruce said would answer any questions when others got 'overloaded'.

Things with Greentree and Bruce Wienstein seemed to get fishy sometime around Jan. 2011. Greentree was not returning calls and/or emails AND dad wanted to set up an account for a friend and was ready to wire transfer money and Greentree seemed to have dropped off the face of the earth.... even when someone wanted to give them $$. At this time Dad knew something was very very wrong.

Dad drove 70 miles to a supposed location of Greentree in the Wilshire district of Beverly Hills, Calif only to be told by an unidentified woman at the front counter that Bruce is not in and Jack and Illana are out for the rest of the afternoon. There was no one else in the very small office suite that dad could tell, even looked like they were getting ready to relocate as packing boxes were evident.

All requests for any withdrawals much less anything else go unanswered currently.

PLEASE all who have fell for this nasty scam... file complaints immediately, while you still have a bit of time on your side. We will be filing with BBB as well as other entities, and attempting to contact the bank where this money was wire transferred, and seeking any legal advice. The names of Bruce Wienstein and Jack Davenport probably are just aliases and aka's, so tracking them down will be difficult. These people not only should issue refunds but criminal charges should be filed against them, this is stealing, and they should have to answer to a court of law. Their documents and statement gains are fraudulent phonies.
 
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Traveler

Private
Messages
21
"Up to 90 days..."? Green Tree up to same old same old...

Were they kind enough to tell you that withdrawals could take up to 90 days before they accepted your money, or was that a "minor detail" that only came up when you wanted to get your money out?
No, no mention of 90 days until I got my with drawal form via email.

I had my round with Green Tree earlier and actually got what I requested.
At first, they directed my attention to the fine print in the withdrawal form that states " All withdrawal requests subject for review. Review process may take up to 90 days."

MAY take up to 90 days. I got my withdrawal sooner because I became a major pain in their asses.

Now, I have asked to close my account out completely and in the Green Tree method of pissing off clients, they do not return calls, they NEVER reply to emails. I supose the usual players are behind the curtain. The guy I always dealt with was John (Bed Wetter) Davenport. Now, he doesn't even return my calls.

They may be sick of me, but I'm not going away until I get all my money.
And I mean ALL my money as stated on the weekly statements I get. According to my attorney, it is legally binding for them.
I'm sure if it gets to me filing a complaint, the CFTC will be interested in all my reports.

If I have to I too, will file a complaint with CFTC, etc. especailly if they pull one like they did on Screwedover here.

You know, all I really want is for someone there to call me and let me know the status of my withdrawal! :unhappy:
 
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