Jim O
Careful with that axe...
igardner said:My company had the misfortune to answer Miko's call requesting rodent caging so he could ramp up operations for a "national supply contract with Petco" he had recently won. Trusting him to his word and promise to execute a irrevocable letter of credit we took his PO and hurried to send him 25 ventilated mouse and rat racks. What an error of naivete. It's now 6 months later, Miko owes us $78,500. He has yet to make a single payment as he has repeatedly promised and continues to dodge phone calls from us and our attorney. After some google sleuthing we've found others in similar situations including his dentist, who had to take him to small claims court for a paltry $900. A word to the wise. Get payment up front, or even smarter, don't answer the phone.
Ian,
Assuming your version of these events is accurate, this guy has clearly done you wrong and perhaps committed a number of crimes. But there are a few questions I would ask and points I would make:
- Did you see this contract with Petco?
- Did you confirm with Petco that it was legitimate?
- Did he execute the letter of credit?
- Did you pull a credit report on him? I ask because any collection activities would be on it.
- Did you do a $20 search for civil actions against him in Wisconsin?
- Did you pull a D & B report on his business?
- Did you ship the first 5 racks so he could "ramp up" and wait for payment on those before shipping the others?
- Did you even do some simple "google sleuthing" in advance? It seems you might have found enough there without needing to do any of the above.
If you did all of that and got screwed then it only goes to show that even when one dots all the i's and crosses all the t's it still can happen.
This was not a simple "you got screwed out of $5000 worth of snakes" situation. It is much more serious than that. This was a very large business transaction and one in which "due diligence" was warranted.
I don't mean to come down too harshly on you as I am sure that you know that there were plenty of opportunities to avoid most if not all of your heartache and loss. I hope that your attorney is looking into this matter and that you have forwarded all of your information to the auhorities as well.
I own and manage residential real estate for a living. I pull a credit reoort and civil action history (not to mention a criminal background check) on every potential tenant. And no one moves in without a one month security deposit and the first month's rent in secure funds in my hand. I know it's a very different business model but my rents average only about $700/month and it only takes about a month to evict, and still I am very cautious.
I wish you the very best of luck trying to get any satisfaction from him.
Miko, where are you? We want to hear from you.


), though I am not sure how I was supposed to figure that out, but then again, that could be a little more of your point huh? Lol. Thanks for for the hint though.