GULF COAST WESTERN REVIEW
This complaint was posted on NAS on 26th Feb, 2022 and is a permanent record located here: https://www.nameandshame.com/gulf-coast-western-5YOSZ/investment-in-gcw-not-for-me-id5ye9v .
Investment in GCW is not for me
The following are my layman good-faith opinions.
I received a cold call from Bill Carey, an Associate Vice President of Gulf Coast Western (GCW). He made a high-energy sales pitch.
I said send me the information. He called me again when the package was at my front door. I hadn’t had time to fetch and read the material before he called. He provided a much longer high-energy sales pitch on the second call. It appears to me that Bill Carey is a sales person with a fancy title.
I decided not to invest because of multiple reasons:
1 – The posted reviews various websites.
2 – Lack of reviews on the Internet by well-recognized and well-respected independent entities.
3 – The way that they are selling the units.
4 – The terms of the application that I would have to sign:
The units being sold are NOT considered to be securities.
I would be a “Venturer, ” whatever that is.
I would have to agree that the money sent GCW was “not a passive investment or activity.” But that is what I am looking for – being a passive investor.
I would have to certify that I am capable of exercising “management powers.”
I would have to agree in writing that I am NOT relying on the ability of GCW for the success of the venture. Who would I be relying on?
The application seems to require me to state that I am capable of replacing GCW as Managing Venturer and/or exercise meaningful management powers.
This investment is DEFINITELY NOT for me.