Camelot One
Premium,MVM
join:2001-11-21
Sarasota, FL
clubs:
| reply to JPCass
Re: hmm
Well, I can tell you exactly how this scam was based, at least here.
Norvergence would send in a sales rep, who would look over the customers previous 6 months worth of phone bills. They would then offer them a package of equipment + service that totaled 80% of what they had been paying. The average service rate here was $250 per month, with the difference being the equipment lease. So if a company had been paying $1000 a month for phone service, they were now paying $250 for the service, and $550 per month on the lease. (5 year lease by the way)
This is why no two companies are out the same amount of money, the lease value is variable.
Just the T1 loops run around $450 here, so they were offering the "service" end at a loss. And yes, to me this proves it was an obvious scam right from the start, not a company that went under due to bad management.
What I'd like to know is where all the lease money went. Take the above example.....the client signed a lease with the bank, the bank cut NorVergence a check for $33,000. ($550x60 months) Even deducting funds to cover the remaining T1 loop charge for a few months, someone is sitting on some fat cash.
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