Vanacor International Failed to provide services as indicated in their agreemnt. Letters were misleading, certainly no ,meeting of the minds, El Dora

29th of May, 2012 by User309925

Hello, I was contacted by Vanacore International who claimed that there was unclaimed-cash-property available to me. I signed an agreement with them to pay them a finders fee if they obtained this money for me. They contacted my credit union-where I have an IRA account and asked them what they needed-to give them power of attorney to access my account and remove funds. I checked the Controllers report on line. My credit union account is active and I never had any desire to break my IRA and--this was not a cash account but a retirement account. The Sequoia Credit union indicated that my IRA was not going to be submitted to the state and said that they were required to --notify- the state and me before any such actions. If that was their plan--no notice was sent to me and I was not aware that my retirement would be given to the state if I had no activity or additions to this account. All I am aware of is that Vanacore received information from the controller office and then made 1 phone call to my credit union to determine how to gain accsess to my account. There was no understanding or agreement on my part that they would "clean out" my existing IRA and then "share the proceeds" with me. Realizing what they were trying to do I e-mailed Vanacore to stop or end my association with them. They said I couldn't and that I owed them $ 2153.00 --(I will send documents if needed). Today I received notice from Vanacore that if I didn't pay their "finders fee" in thirty days they would sue me. They were trying to get access to my private account. I feel foolish that I didn't recognize this as, what I consider, to be a scam and I suspect that others might be mislead by the same tactics.

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