John E Folds

John E Folds North American Land Corporation, Fails To Make Good On Venture Agreement Vienna, Virginia

2nd of Dec, 2010 by User618443

I am posting this as a warning to anyone looking to do business with John E Folds. I am not a first hand account victim or witness to the alleged land/real estate frauds he has been involved in, but there is documentation to the fact as exampled in this online posting: Moreover, my personal grief and account is that John contacted me in early 2009 to start an entertainment business (of questionable nature). We met several times in California, and then signed agreements to launch this venture (to be funded by him, and managed by myself). We began to produce content and things were going well. I had quit my job (sold off my portion of the company I had started previously) and moved to accomodate and better server this venture we were undertaking. I then received an abrupt email in early April 2009 to the fact that John no longer wished to pursue this venture (we were only a month into it and had not yet even tried to market our product yet), claiming he saw no revenue potential in it and was going to China and not returning. I was left with no job, no prospects, having moved and spent most of my savings - in one instant. We had a signed agreement and contract to at least carry out the venture until October of 2009 which he ignored and made no effort to some to a settlement agreement with me - although I proposed GENEROUS compromises multiple times. He basically took off and left me, in breach of contract, with no job or prospects over night. The web link above outlines a similar scenario in his alleged real estate dealings. Beware if you do business with John E Folds. Take this for what its worth.

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