ComplaintsforDBI Ventures LLC

• Initial Complaint

  01/23/2024

  Complaint Type:

  Product Issues

  Status:

  Unanswered

  More info

  I invested in this company from the end of 2020 until their apparent collapse in early 2023. This company, run by ***** and *******, sent an email and text in February of 2023 that there was a problem with their investing algorithm/program. This "problem" resulted in an immediate loss of 89% of my portfolio. ***** sent a few updates over the next few weeks stating that they would issue the remaining balance back to customers or will work to rebuild the balances and ask for patience. There has been no significant update since then. The only information ***** will share is that *******, his partner, but who seemingly ran the entire operation, has not contacted him nor given him any more answers. It seems ******* has sole possession and access to whatever funds are left from all their investors. Though their signature block says ***** is a Co-Founder, he has 0 knowledge of how their program lost all their money and even more worryingly, has no idea how to access and manage the funds *********** his partner.DBI's email addresses no longer work, their ******** page has been taken down, their ******* and instagram accounts no longer exists. This seems like an extreme cause of fraud.

• Initial Complaint

  05/05/2023

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  DBI is an investment company. I have invested money with them over a 2 year period. A few months ago there was a text and email that there had been a problem with their investment. I have been asking for a balance on what is in my account. My most recent investment contract was on 8/18/2022 and I gave them $84,842.69. My account matured on 4/18/2023. On 3/10/23 I was told that my account had $11,217.01 in it. That is a $75,000 loss. I have been emailing and texting since 4/20/23 with the request to take my money out and have yet to get a current balance or any money.

  Business response

  05/25/2023

  To whom it may concern,
  
  I have read and reviewed *************** complaint, and would like to clarify a few details.
  
  I have been a key point of communication for *************** and have acknowledged and passed on her request to withdraw her investment the relevant individual to action. During this time, I been as responsive and communicative as possible with *************** providing the information I have on this matter. Majority partner ********************* is the individual responsible for management of the account in question, and has been unresponsive since ***************' request. I have relayed the request to him and followed daily, sometimes more, through a variety of communication channels including email, phone, text, and others. Unfortunately, without further information or action from Mr. ****** I am unable to verify the current balance of the account or advise further regarding the investment withdrawal request. I can confirm that if I was in a position to action this I would have done so immediately. 
  
  
  
  

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩