Re: Ultra Technology store forced out of business by Humboldt Bank

[dirk@xxxxxxxxx]

Jeff,

I would still prefer to get the video showing Chuck's demonstration.

If that is no longer possible then what are the mechanics of getting
our money back?

Dirk



On Thu, Jan 01, 1970 at 12:00:00AM +0000, Jeff Fox wrote:
> Humboldt Bank:
> 
> This letter is to inform the staff at Humboldt Bank, the Ultra Technology
> customers who have been effected by the actions of Humboldt Bank, the Federal
> Banking Regulation Agency, and the California Attourney General that Huboldt
> Bank has taken the stance that I must shut down the Ultra Technology Online
> Store.  Humboldt bank siezed all of the funds in the Ultra Technology
> account over a month ago and althought I have sent them 28 mail messages
> and made multiple long distant calls every day they have never sent
> me a single reply to my email or resolved the issue.
> 
> They informed me by phone today that they will continue to hold the funds and
> will not give me a date when they will transfer the funds.  They have
> even gone so far as to claim a catch 22 situation which is that I
> have not shipped the products so they cannot give me the money.  I have
> told them that I ship the products when I get the money because I
> cannot ship until it is paid for.  They want me to ship the $1000 worth
> of products and then wait more than a month for the $1000 that they
> have siezed.  It has now been over a month and they will still not even
> give me a date when they intend to transfer the funds.
> 
> I have informed them many many times that I have not been able to ship
> product or even buy food, and that I have had to go a couple of weeks
> without eating while waiting for them correct their error.  When we
> setup the account I estimated that the store would do $200 worth of
> business in the first month and that it would ramp up to thousands
> of dollars per month.  Someone ordered a DYOP kit and it resulting in
> the bank having an excuse to sieze all of the funds in my account and
> sit on them indefinately because it cost more than $200.
> 
> I have informed the bank that I cannot continue to operate the business
> indefinately with no income and that if they refuse to turn over the
> money that my customers have spent for Ultra Technology products that
> they will have forced me to close the store, inform my customers, file
> complains with the banking commision, the California Attourney General,
> and file a law suit against them.  They have still refused to even give
> me a date when they will transfer the money that they have taken from
> my customers and turn it over to me.
> 
> If I do not get a call from the Bank today giving me a date when they
> intent to transfer the funds I will take the store offline tonight
> and file the complaints and law suits tomorrow.  I have kept people
> informed of these developments through the MISC mail list, however
> it appears that like my job at iTV and the account at Humboldt Bank
> that the MISC mail list has been shut down for some time so I am
> cc'ing all the customers whose orders are going to canceled because of
> Humboldt Bank.
> 
> If you are not pleased with this situation please do not complain to
> me.  Please file your complaints with Allen Rode arode@humboldtbank.com
> or with the president of Humboldt Bank or with the appropriate regluatory
> agencies.  You may of course file your own law suits but there will be
> little that you can get out of Ultra Technology since there are no longer
> any funds here.  I know that Humboldt Bank has siezed money from a number
> of you and I would appreciate it if you tell Humboldt Bank what you
> think of the actions that they have taken.
> 
> Let's hope that Humboldt Bank decides to turn over all of the money from
> the Ultra Technology customers that they have siezed and been sitting on
> for more than a month or at least gives me a date at which they will
> transfer that money to me so that I can ship you your products.  Let's
> hope that Humboldt Bank does not follow through on their threats to
> continue to hold the money indefinately until Ultra Technology has been
> forced out of business.
> 
> Best wishes,
> Jeff Fox
> Ultra Technology
>