Waterford Management, Inc.

Shawn –

Victim Location 12534

Total money lost $17,326

Type of a scam Debt Collections

We received an unsolicited email from Waterford Management with a Credit Application attached . The customer wanted to establish credit so they could begin ordering cleaning supplies from us. When we asked the nature of the business we were advised the company would place orders and send in a third party trucker to pick up the products. They would then sell the products to business located in our area (hotels, restaurants, etc.). We approved credit based on their Experian Business Report. The Report rated the business as medium risk. The Report also indicated the business was incorporated in 2004. The first order was received and picked up on 4/19/17 for $10,491. Net 30 days were assigned. We received s second order on 5/9/17. We asked for conformation that the first order would be paid before we would release the second order. We were advised by their Account Payable Manager Derek Richter that the first invoice would be paid on 5/17/17 so the payment would reach us on the due date of 5/19/17. Based on this commitment, the second order for $6,835 was released for pickup. The payment for the first order was never received. Attempts to contact Mr. Richter have been unsuccessful. No one has returned our phone calls nor have they responded to our emails.

Stacey –

Victim Location 76106

Total money lost $36,408.82

Type of a scam Other

Customer sent over a credit application with what we later learned was fraudulent credit references (companies don’t exist). After receiving two orders of laundry detergent, fabric softener, PineSol, and Fantastik all purpose cleaner customer never remitted payment for a total of $36,408.82. Credit application was signed by Michael Livingston Humphrey. Other contacts were Ray Goodwin, Derek Richter, and Gary (last name unknown). The tax id number they used with us was ***.

Kendra –

Victim Location 44663

Total money lost $2,000

Type of a scam Other

Waterford Management contacted us in December 2016 and asked us to check their credit and set them up with terms. We checked their credit references and banking information which appeared to check out. They placed an order for $13,000 worth of product. Before the 30 days terms were up, they tried to place another order. We typed their name into the internet and found a warning from the ScamPulse.com of Minnesota and North Dakota (BBB) is issuing a nationwide alert on Waterford Management. We were fortunate to be able to stop the shipment enroute and get the product back to us. On further research, it appears they are operating all over the country. Their credit references and banking information are bogus. We will lost a restocking fee with our vendor and freight on the product, but feel fortunate to have the products returned to us.

Jaime –

Victim Location 01960

Total money lost $35,000

Type of a scam Online Purchase

Ray from Waterford Management contacted our office inquiring about janitorial/cleaning supplies stating their company was moving to the Northeast, our area, and looking to partner up with a company in our area. They provided all documentation and completed our Credit Application along with bank, trade references, tax cert, etc. Once thoroughly checking their information, Ray forwarded a purchase order, which he then made arrangements for the order to be picked up via a third party logistics company. We processed the first order for $20K for pickup at the end of January; a 2nd order was placed and picked up for $15K at the end of February, 2017. Derek Ritchie had informed us that a check for the 1st order was to be received on 3/6/17 even providing a check#. No checks/payments have been received. Waterford is no longer at the address they provided and emails are no longer valid.

Stephanie –

Victim Location 46225

Total money lost $17,437

Type of a scam Other

This company contacted us by phone and asked for a quote on supplies saying they were doing business in our area and were looking for a local vendor. We sent in a quote and upon their first order, requested that they complete a credit application. They sent it in which we verified through our process to establish net 30-day payment terms. They asked for a higher credit limit than was granted. We received an electronic copy of a purchase order and were told that they would be arranging pick up with a logistics company. The logistics company sent a trucking company to pick up. When they arrived with no bill of lading, we would not allow them to take the product. Through that process, we learned that the destination of the product was to remain confidential which did not cause us alarm because we frequently request our drop shipments from manufacturers to be blind as well. They did finally produce a bill of lading and the product was picked up. Two weeks later, they placed the exact same order and the pick up was the same. When the first invoice was approaching 30 days, we contacted their accounting department to make sure they were cutting a check and we were given a check number and told the check was mailed. We then released a third order of the exact product and amount with the same pick up. When the check did not arrive, we started collecting more aggressively with phone calls and emails. As recent as last week, we were told by someone who answered the phone that the owner had been traveling and that we should not worry and will be paid. At that time, I was given the owner’s email address. I was becoming suspicious because when I called, most times, I was put into voicemail (and I tried several extensions, including sales). It wasn’t until I googled the business on 4/14 that I discovered the BBB notice and several unfavorable Yelp reviews.

Maggie –

Victim Location 48211

Total money lost $14,238.25

Type of a scam Other

Submitted credit application. We processed order/invoiced. We would not release their order until we received payment for previous order. They told us they had sent a check and assured us it was in the mail, even provided a check number and amount. We never received the check and now they will not return are calls.

Michelle –

Victim Location 37408

Total money lost $20,539.50

Type of a scam Other

Waterford management called us to set up an account to purchase janitorial supplies on credit– an extensive credit

check was made and no bad reports were shown on the BBB or from the creditors listed on the credit application-

no payment after our 30 day terms – called to collect and was told a check was in the mail- never received the check

and no one returned our phone calls or e-mails-

Kurt –

Victim Location 19446

Total money lost $7,500

Type of a scam Other

Individual from the company contacted our business and inquired about purchasing product. After running credit check on provided information credit was extended and product provided. Invoice has not been paid and we can no longer get in contact with anyone from the company.

Cody –

Victim Location 02302

Total money lost $23,000

Type of a scam Other

Waterford Management called requesting a quote for products. We provided the quote and several months later they faxed us a completed credit application along with bank and business references, which were all confirmed. Turns out they are bogus. The products were picked up by Estes Trucking. After contacting them regarding payment. we were told a check number and payment date of 2/7/17 by Gary Falcon from their accounting department. The next week we called and e-mailed them regarding the late payment – received an e-mail reply from Derek Richter, that Mr. Humphrey had an unexpected personal issue and was not there to sign checks and that the check would be sent 3/10/17. When we didn’t receive payment we e-mailed and called again, telling them to wire the payment to us or we would be contacting the Attorney General. Jonathan Sullivan called back immediately upon hearing that message, saying that he would make sure Mr. Humphrey was made aware of the situation and that "payment is not a problem for this company". Since that conversation we have tried to communicate with Waterford Management with no success. We did notify the Attorney General’s Offices in Minnesota and Massachusetts.

Gary –

Victim Location 17402

Total money lost $43,188.73

Type of a scam Other

Ettline Foods Corporation was contacted by a person calling himself Jonathan Sullivan with Waterford Management, Inc. He wished to set up an account to supply his company. He submitted a credit application with professional business references, Pennsylvania State Tax Exempt Certificate and a W-9 form and banking information. Ettline foods completed the credit application that included checking his business references. The references reported their credit was excellent….. never a problem…. And been paying us for 7 years without a problem. Ettline Foods extended them 30 day credit terms based on their excellent credit references. Waterford Management, Inc. sent in a third party trucking company to pick up two large orders. We received no complaint on the product shipped. Waterford Management ordered and picked up $42,826.11 in product. On March 9th we emailed asking for the status of payment on their account and they replied that check number 0282878 for $23,508.06 was mailed on March 17th. The check was never received. On 4/3/17 Gary Falcon in their Accounting Department emailed and assured we will get paid…. They insist it was mailed however will not issue another check without verifying it was not cashed. They continue to stall.

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