HOUSE OF CARDS

HOUSE OF CARDS

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When good men do nothing, evil triumphs!


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American Express Cost Me Over $700,000,000 in Debt, Assets, Earnings, Cash, Credit and Revenues!

In 2007, along with several Kentucky clients, I was sued for $2,604,861.16 in unpaid charges on corporate American Express credit card accounts used in Kentucky. American Express called me the “mastermind” behind these charges although no money ended in my pockets. In March 2006, American Express froze certain accounts in Pennsylvania with alleged charges totaling $545,291. Investigation into the alleged Pennsylvania charges by the USPS ended on March 10, 2009 with my Indictment on one count each of mail and wire fraud.

Regarding the $2,604,861.16 lawsuit, American Express records indicate that $2,416,621.58 is the actual amount. The alleged debt contains an accumulation of unpaid monthly fees charged by American Express totaling $759,256. Local bank and American Express Internet records show that more than $1,700,000 was expended by my Kentucky clients, I ended with nothing.

As to the alleged Pennsylvania $545,291 net debt, recently reconstructed bank records indicate that as of March 31, 2006, a startling $507,689 is owed me by American Express. Despite the facts, financially irrelevant fact finding by the USPS produced an Indictment which held American Express harmless.

Since early 2004, I have been unable to work what with lawsuits and investigations hanging over my head. I am the only one involved in this matter who has been forced into impoverished retirement, lost all assets and has had his reputation destroyed beyond repair. Consequently, it has been financially impossible to attack my accusers or defend my position. Even with inclusive substantiation, all facts submitted by me to American Express or the investigators have been either disregarded or countered with pretentious, twisted legal jargon and innuendo. My only hope has been exposure by way of the Internet and other media.

I made a decision in early 2004 that helps explain my present circumstances: I was fiercely coerced by a New York law firm dishonestly claiming to be American Express, to pay debt I was not responsible for but nonetheless frightened into paying. In fact, I was so scared that I felt obligated to borrow what ended with interest to be $936,544 plus contribute corporate earnings, personal wages and debt support for years.

I turned to Fleet (later Bank of America) borrowing $83,609, plus Compass Bank in Wilmerding, Pennsylvania, borrowing $481,398, secured by a recently restored, church building valued at $1 Million, which I eventually lost to the bank. I had already spent much of my two year's corporate earnings - $329,987 - to renovate, among other things, that church.

To make matters worse, extenuating circumstances required borrowing from new credit facilities at exorbitant rates to pay the resulting debt service. The total paid to amortize Compass was $215,688 with $552,479 yet owed. On top of $15,092, $153,285 is still due Fleet. This borrowing cost me a $500,000 bank line of credit and my personal $250,000 credit line which helped trigger re-opening accounts in Pennsylvania and the subsequent American Express-driven Indictment.

But what disturbs me as much as anything is this: I soon discovered that my borrowings and contributions had gone to pay alleged debt that for the most part was just plain deceitfulness by American Express and its employees. I had in essence borrowed to cover money American Express owed me as well as bury fraud on the part of its employees in their effort to increase commissions.

Case in point: Prefaced upon my paying off four other accounts not shown in the Kentucky lawsuit, American Express withheld $190,485 worth of credits; charged me $144,143 merchant services fees on cash I never used except to accumulate and maintain high pointless bank balances to fulfill a bogus claim that credit lines would be slashed otherwise. To boot, American Express caught one of its employees in an act of forgery which essentially blocked the purchase of a business I tried to buy, resulting in a forced settlement with the owner and his broker costing me another $40,642. This list is not inclusive - there are several hundred thousand dollars more - but it tells some of what my borrowings and contributions paid.

From actions by American Express, I also lost important lines of credit: ECB Trucking Company - $2.5 Million, WWW et al - $1/2 Million and an American Express $10 Million letter of credit. ECB and WWW had been wrongfully shutdown in early 2004 regardless that they were paid in full and easily re-approved months later. Accordingly, opportunities were missed; irreversible personal damages resulted.

For example, blocking the purchase of ECB and losing revenues from existing companies I owned, total yearly income lost from 2004 through 2009 totals over $500,000,000; profits and inflation not included. The planned separation of the financial management of these companies pushes lost revenues over $700,000,000. American Express Cost Me Over $700,000,000 In Debt, Assets, Earnings, Cash, Credit and Revenues!

What we have here is a malicious attempt by American Express to collect money not owed and cover up irreversible personal damages it caused; especially the Indictment!

... Richard Shumaker

I May Have Prevented Wall Street Collapse!

From experience, I gained a fountain of information about the way American Express operates and by the time my Kentucky client defaulted in early 2004, I had amassed evidence to support what had been a disingenuous promotion to create large cash float for purposes of profit. And, if unbridled cash float comes to a screeching halt, consequent debt can quickly put an end to just about any business. I knew that if the actions by American Express were widespread, this country and perhaps the world were facing financial annihilation. The recent demise of powerful corporations on Wall Street was the direct result of colossal debt defaults brought about by unchecked cash float creation practiced by American Express and others.

I was so affected by what I knew that I determined to put together a “dream” team and take vigorous legal action against American Express. At the time, I had several million dollars in the bank. As it turned out, I backed off afraid that American Express was just too large and too powerful to attack; maybe the most stupid decision I ever made.

Now, as I look back, had I listened to my heart and filed suit against American Express, I may have helped prevent the Wall Street collapse. Had I exposed what American Express and others were up to, this disaster might have been prevented. That decision not to act cost me six years of unbridled woe.

... Richard Shumaker

By using the mail and telephone to perpetuate this scheme, American Express may be guilty of mail and wire fraud. Read my INDICTMENT HERE!