RAM Drama - RC Groups
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Dec 12, 2016, 10:07 AM
c/f
c/f
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FAQ

RAM Drama


When Sara and Roger Parish retired several years ago, I purchased their share (43%) of the company for $56,000.00 to keep Wren open and solvent. I also loaned the company 20,000 GBP (at the time the exchange rate equaled $34,000.00) to keep the doors open. Mike Murphy personally signed a contract for this loan, which was never honored. Little did I realize that they were in such financial trouble. So when they took a "Voluntary Liquidation", I lost all investments I had put in the company. If you watch their Face Book site...anytime someone posts a question regarding their order that has been paid for but not filled...the posts mysteriously disappear. Although I was with the company for more than 7 years, and a major shareholder, I had no say in the day to day operations of the company.
After they filled liquidation, the company changed names and reopened days later under a new name at the same address. They had listed very little inventory at the time of the liquidation, but were advertising new motors days later. I agreed to leave the company and turn over my shares if the orders that I had already been placed and paid for were honored and delivered. Otherwise I would have had to reimburse all of the US customers that had prepaid for motors (in excess of $22,000.00)
They walked away from more than 400,000.00 GBP of outstanding debt, so I feel lucky that my personal loss was not more !
This will be my only post regarding this issue. The real facts and the truth are out there. You just have to search for the truth...
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