Is AMI paying anyone??

[corsairs22]

Re: Is AMI paying anyone??

Does anyone know under what circumstances the FBI gets involved in investigating internet sports auctions? Are they concerned solely with allegations of shill bidding and fraudulant claims about the items at auction? Or is AMI's alleged inability or unwillingness to pay its consignors outside their current range of interests?

[jondris]

Re: Is AMI paying anyone??

If he can file against Victor and Kieta personally he would at least force them to pay or file bankruptcy personally as well if AMI does indeed file bankruptcy.

He did not do business with Victor or Kieta but with AMI , they are buffered by the Corporate veil of AMI

[mvandor]

Re: Is AMI paying anyone??

He did not do business with Victor or Kieta but with AMI , they are buffered by the Corporate veil of AMI

There are causes of action to pierce the corporate veil. I believe fraud, while tough to prove, is one of them. Lawyers would know better than I.

[jondris]

Re: Is AMI paying anyone??

There are causes of action to pierce the corporate veil. I believe fraud, while tough to prove, is one of them. Lawyers would know better than I.

You are going to have a hard time proving fraud as this is a poorly managed company with bad business practices , running a business into the ground is not necessarily fraud.

It is going to be very tough to prove fraud and cost you lot sof money as well

[earlywynnfan]

Re: Is AMI paying anyone??

Don't know if it directly relates, but I had some work done at my house, and it was botched. I sued the company and the owner. He shut the company down shortly after, but since I had his name on my suit, I was still allowed to go after him for damages.

Ken
earlywynnfan5@hotmail.com

[hblakewolf]

Re: Is AMI paying anyone??

Here's some additional ink AMI received:

http://stricklerautographs.blogspot.com/2009/03/american-memorabilia-same-old-problems.html

http://www.ripoffreport.com/reports/0/433/RipOff0433118.htm

Glad I ceased doing business with them many years ago.

Howard Wolf
hblakewolf@comcast.net

[encinorick]

Re: Is AMI paying anyone??

Generally speaking, the purpose of a corporate entity is to shield the individuals involved from personal liability. Whether it's a public corporation or a private S corporation, the hallmark of the corporation is that the officiers, such as the president, cfo, etc, aren't personally liable for the debts of the corporation.

Partnership, on the other, don't have this immunity and the general partners are liable for the indebtness of the partnerships.

LLC's, (limited liability company) function like a corporation and shield the general partners from liability, but, unlike corporation, they don't pay taxes, only the partners, not the LLC, are taxed. It appears to me that a couple of the auction houses were set up that way.

Notwithstanding the above, officers in a corporation will be held liable if the corporation is not in "good standing." For example, if they don't pay their corporate taxes. A quick review of the auction house in question with the State Departmernt of Corporation records, can determine if the corporation is not in "good standing." There are other methods to determine whether or not a corporation or a LLC is not in good standing, but the list is too long and boring.

If the LLC or corporation is determined by a judge to be not in "good standing" then the corporation (or LLC) has been "pierced" and the individuals are then personally liable.

Do your homework boys, or get a good lawyer, there's work to be done.

[corsairs22]

Re: Is AMI paying anyone??

ok ok, I am not a lawyer. But in my line of work I am supposed to know something about ethics, and it seems to me that business people who regularly steal from their suppliers / consignors ought to be subject to civil and criminal penalites. Even if a company has fallen into debt and is using the cash from new sales to pay old debts, the officers of that company can't be excused for misleading their suppliers and not paying them.

[33bird]

Re: Is AMI paying anyone??

UNLESS AMI gets everybody paid off, I think they'll investigate their financial records, etc. and find, pretty simply, that they were thiefs. If it's basically a PONZI scheme, which is the way it's looking, then they'll serve time. I've seen if before, and we'll see it again.
Greg

[Eric]

Re: Is AMI paying anyone??

Wow, they're even getting trashed on the yellow pages website...

http://yellowpages.aol.com/business/nv/north-las-vegas/american-memorabilia-inc/0-200844407/?query=Auction+Houses&fromSearch=%26%26sPage%3D1%26nt%3DSG4%26query%3DAuction+Houses%26area%3DMesquite%2C+NV

Ratings
SKoschal - 05/07/2008
No stars here! I have first hand knowledge of this company, they still own me money from 2004. Over the years they have been advised of non genuine items in their sales and they do not respond. Compliants have been made to the BBB. Use extreme caution daling with this firm, many complaints from consignors still not paid after 4 months.

Showing 1 - 1 of 1 reviews

[earlywynnfan]

Re: Is AMI paying anyone??

Wow, they're even getting trashed on the yellow pages website...

http://yellowpages.aol.com/business/nv/north-las-vegas/american-memorabilia-inc/0-200844407/?query=Auction+Houses&fromSearch=%26%26sPage%3D1%26nt%3DSG4%26query%3DAuction+Houses%26area%3DMesquite%2C+NV

Ratings
SKoschal - 05/07/2008
No stars here! I have first hand knowledge of this company, they still own me money from 2004. Over the years they have been advised of non genuine items in their sales and they do not respond. Compliants have been made to the BBB. Use extreme caution daling with this firm, many complaints from consignors still not paid after 4 months.

Showing 1 - 1 of 1 reviews

Steven Koschal has been bashing them for quite a while, when he takes the time off from bashing PSA.

Ken
earlywynnfan5@hotmail.com

[Neely8]

Re: Is AMI paying anyone??

I have tried calling all their numbers several times over a couple of hours today and got the message stating they are on the other line or helping another customer. That's a great way to conduct business when they have a major auction that closes in two days. What a joke.

[sammy]

Re: Is AMI paying anyone??

I believe they are afraid to answer the phone because it is probably someone they owe money to.

[Neely8]

Re: Is AMI paying anyone??

I have tried calling all their numbers several times over a couple of hours today and got the message stating they are on the other line or helping another customer. That's a great way to conduct business when they have a major auction that closes in two days. What a joke.

Same thing again today. Wow. I'd be pretty pissed if I had something consigned in this auction and no one was taking calls to accept bids since the auction ends the 30th. It's not like the consignors will get paid anyway though. I'm just wondering how they are still in business operating like this? At this rate I'd say they are on their way out.

[earlywynnfan]

Re: Is AMI paying anyone??

I'm glad they don't have anything I want in the current auction, because I'd be tempted to bid, and the way things seem right now, I can see them taking payments, shutting off the lights, and taking a trip to another country. (Notice I said nothing about mailing out the paid-for items!)

Ken
earlywynnfan5@hotmail.com