The Shady Deal From Cadillac Motorsports (update)

[Matthijs]

For all who are new to this CTS forum back in Jan.06 a group buy from Cadillac Motorspors with PETE RAIMONDI in charge to make Hugger Headers for CTS
3.6 at the cost of $1700. Deposit $850. now and $850. when finished.
Pete will start building in March 06. Come Aug. 06 I emailed Pete where is my Headers his reply"clerical errors" so to make things right with me he would sent me a Cadillac jacket and custom billet door locks!!!Well guess what???
You guessed it, No jacket or locks and no HEADERS...Pete has my $850. in hand but no goods.In Dec. Ifiled a complant to attorney's office,BBB,and Internet Crime Comlaint Cener(http://complaint.ic3.gov) with no help ,all they did was send letters with no reply...So March 27,07 I called Baltimore County Sheriffs
Dept. talked to Corporal Dan and told him everything whats going on.Well low and be hold Corp. Dan when to Pete Raimondi's house and that Pete had filed for BANKRUPTCY!!!Chapter 7..I am out $850. I know Pete has been sick and I have prayed for him but why should I be responsible for his medical bills..SO BUYERS BEWARE YOU HAVE BEEN WARNED THAT CADILLAC MOTORSPORTS AND PETE RAIMONDI IS IN BANKRUPTCY!!!!!! And thats my story.......Matt

[nickc50310]

Sorry, I had to be the first to post here......

Im sitting the sideline for this one.

[urbanski]

sorry dude
edit: small claims court

[d-dash]

I would think that a business should still have to return a deposit that was paid and no product was recieved. Did he himself declare bankruptcy or did cadillac motorsports declare bankruptcy.

[dkozloski]

Welcome to the wonderful world of unsecured creditors.

[z06bigbird]

Try People's Court, but he will have to agree to show up too.

Ed

[pjohnesq]

Originally Posted by Matthijs

Pete had filed for BANKRUPTCY!!!Chapter 7..I am out $850.

Sorry to hear that....If CMS filed, Chapter 7 is never good for a creditor since the company stops all operations and go out of biz. Investors who take the least risk are usually paid first when the trustee liquidates the assets to pay off debts...If Pete personally filed ch. 7, he is allowed to keep certain exempt propoerty which differs from state to state..what's really messed up is that many types of unsecured debt are legally discharged by chapter 7....that 850 is gone....That is so F!ed up...Damn, who knew that JT's words (may he rest in peace) would ring true. He did call for an escrow agent since he never did trust Pete.

[heavymetals]

You can claim it on your taxes (the loss), but your out the money.

What a drag.

[AznPrydeRegalRyde]

[05CTS]

Maybe Bob can call him.

[Matthijs]

Chapter 7 does not apply to me. Its a matter of "theft of service"(the headers)
Selling Headers he (Pete)did NOT have...
Maybe I can file mail fraud.I will look into it.............Matt

Fraud:
wrongful or criminal deception intended to result in financial or personal gain

[RobertCTS]

Originally Posted by Matthijs

Chapter 7 does not apply to me. Its a matter of "theft of service"(the headers)
Selling Headers he (Pete)did NOT have...
Maybe I can file mail fraud.I will look into it.............Matt

Fraud:
wrongful or criminal deception intended to result in financial or personal gain

Do what you need to do Matthis...just do it! You've been moaning for some time but you don't appear to be doing anything. Take some legal actions and get on with it.

[nikon]

you never answered...did the corp. file bankruptcy or did he personally file bankruptcy....further more was it a sole proprietorship, LLC, LLP, general partnership? if theres someone else thats invested in the business you may have some more people to go after...give us more info and can maybe help.

btw, I'm no attorney but I have been taking business law for the past two years

[RobertCTS]

Originally Posted by nikon

you never answered...did the corp. file bankruptcy or did he personally file bankruptcy....further more was it a sole proprietorship, LLC, LLP, general partnership? if theres someone else thats invested in the business you may have some more people to go after...give us more info and can maybe help.

btw, I'm no attorney but I have been taking business law for the past two years

Nikon..what big eyes you have!!

You a Nikon Junkie? I've got a F2 33mm with tons of lenses and associated stuff that fell to the back of the closet with the advent of digital Photography.

[nikon]

^^^lol no, actually I got it from the movie 'hackers' and it's a pretty easy handle to use at all websites because most people don't pick it just something stupid I picked up when I was much younger...it works though.