Articles

May 19, 2008

Business Credit Expert Becomes a Victim of Corporate Identity Theft
Staff Writer - FinancialFitnessTips.com

Dr. Richard M. Krawczyk did his normal search for his corporation records online recently before entering into a consulting contract and found something interesting – his company no longer existed. He immediately called the Nevada Secretary of State’s Office only to be told that his corporate officers, resident agent and his name had been changed to something else. Since Dr. Krawczyk didn’t do this himself, he immediately knew he was a victim of corporate identity theft.

After completing an investigation, he learned that San Ramon-based Company Corporation Credit Association of America had changed the information on Dr. Krawczyk’s corporation and then sold it to San Jose resident Ralph Rogue for $10,000.

“I had no idea I was sold a stolen corporation,” stated Rogue. “I immediately called Corporation Credit Association of America and was told that I wouldn’t get a refund.”

When confronted by Dr. Krawczyk, Jarrad Lackey, president of Corporation Credit Association of America, immediately restored the stolen company to the original corporation information.

“It’s very easy for anyone to change a list of your corporate officers, resident agent and even the name of your company without you knowing it,” stated Dr. Krawczyk, the #1 Business Credit Expert listed on Google, bestselling author, public speaker and consultant. “By changing any of this information, an identity thief can even hijack your business credit report. All the years of good payment history for your company can be lost in an instant.”

One of the reasons legitimate shelf corporations are purchased is to enable a company to obtain large lines of business credit significantly faster than a new company.

“I paid Corporate Credit Association of American $60,000 for six companies that didn’t really exist,” stated Rogue. “Unfortunately, now I’m out the money and the corporations. All I can do now is hope that law enforcement does something about this.”

When a corporation is stolen in one state and sold to an individual in another state, it’s most likely a federal matter since state lines are crossed. Both local and federal law enforcement authorities have been notified and the incident is currently under investigation.

“Considering Corporate Credit Association of America has all of their transactions tracked by IP address and credit cards, it shouldn’t be long before authorities shut them down,” stated Dr. Krawczyk. “They make the Keystone Cops look like Einstein. It’s an embarrassment to any legitimate sellers of shelf corporations in the industry.”

“It’s almost comical that of all the corporations to steal, they stole one of mine.” Dr. Krawczyk is the one of the leading seller of shelf corporations in America and senior editor of FinancialFitnessTips.com.

Dr. Krawczyk filed a civil lawsuit last week against Corporate Credit Association of America.

Corporate identity theft has spiked over the past few years. Many times, corporations are stolen and sold to another party without the original company’s knowledge. Usually, they find out when it’s too late.

“When you’re one of the most popular states to register corporations, the incidents of corporate identity theft are proportionately higher,” stated Bob Walsh, Public Information Director for the Office of the Secretary of State in Nevada. “Nevada is currently putting measures into place to protect corporations filed in the state.”

According to Dr. Krawczyk, corporations should review their company records at their state’s Secretary of State’s office every ninety days and always before entering into a contract with someone. If your corporation is not in good standing with your state at the time a contract is executed, you may become personally liable for the contract.

“If you don’t keep a watchful eye on your corporation records, you may wake up one morning without a company,” Dr. Krawczyk said.

For more information on shelf corporations, go to: http://www.BusinessCreditAtHyperSpeed.com