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Consumer Alert - Beavercreek man loses $2,300 after selling shares to firm that won’t pay

Check (JJ Gouin - stock.adobe.com)

BEAVERCREEK — A Beavercreek resident is out about $2,300 after agreeing in August to sell shares to a firm called Potemkin Limited, which has failed to pay.

The transaction comes amid warnings from several major financial corporations about unsolicited purchase offers from Potemkin Limited.

Prudential Financial, P&G, GE HealthCare and Brighthouse Financial have all cautioned shareholders to reject purchase offers from Potemkin Limited, stating the prices offered are significantly below market value.

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Bob, a Prudential Financial stockholder from Beavercreek, decided to sell his stock after setting up a trust and consulting with his financial adviser.

Shortly after, he received a mail solicitation from Potemkin Limited offering to buy his shares.

“It was something I’ve been wanting to do, and then this was an opportunity that came up,” Bob said.

After considering the offer for two weeks, he decided to sell the shares. “They offered me money for my shares, and I sat on it for a couple of weeks, and I thought, you know what, I need to I need to sell these things off,” he said.

According to Bob, his financial adviser evaluated the transaction and noted that the offered price fell short of actual share value.

“The shares were probably worth 5% maybe 10% more than that, so they lowballed me to begin with,” Bob said.

Months after agreeing to the sale in August, Bob has not received his payment of approximately $2,300.

“Now we’re into about the third month, way past the 10-day period, and I’ve yet to receive a check from them,” Bob said.

Attempts to reach Potemkin Limited using the contact number provided on the paperwork lead to an unmonitored automated line.

Callers who dial the number receive a recorded message: “Please do not leave a voicemail as this mailbox is not monitored.”

Following the experience, Bob urged other shareholders to thoroughly research companies before signing sales paperwork. “You get anything in the mail, and you’re thinking about trying this out, look them up first,” Bob said.

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