Edward Banayoti who calls himself as Ernest Anderson scammed me out of $450,000 and we were forced to sell our home.
I am old and retired. Being a carpenter, I had limited funds which I saved for my retirement. My wife and I had bought a home while we were working. After we left jobs, we started investing into different financial schemes to save for future.
I had very little knowledge of what we call a mortgage investment. But, the industry was at its peak in 20’s and we decided to make most of it. However, investing into Golden gates was our biggest mistake. We could not sense the fraud and invested in the company that claimed itself as a mortgage investment firm.
The company was owned by Ernest Anderson. We with other 150 investors lost our money into the scam that returned nothing. We alone lost $450,000. This was our last hope of getting bigger returns. What distresses me most is that I used to be a guy with lots of anger and an attitude of fighting back for my rights. But, in this case, I couldn’t do anything.
Because of losing all the money that we had, I had to sell our house. We had build our home together and had never thought that we would have to do something like that. However, we were left with no choice.
I remember, my wife was devastated after the loss. She could not believe about all that was happening. I had never seen her so sad. It broke my heart when I remember her looking at me in a hope that the fate could be changed. But, I couldn’t console her as we both knew that selling our house was our last option.
We did come out of our situation after few years. But, we would never forgive Ernest for making our life so miserable. There are more people who have faced the same problem and there would be those who would have lost everything like us, but wouldn’t have raised back again.
People like Ernest Anderson should be sent to prison without wait.
When have been trying to track him from the time we lost our money. We read all the news and article that related him and tried to collect as much information as we can. After his company collapsed, we read about the $4 million penalty that was levied on him. The article said that the investors paid him $8 million. I found that completely unjustified.
The news article also suggested that he confessed in the court of justice that he never used those money for any mortgage investment. Rather, he used them to pay the old investors. He was running a Ponzi Scheme and that was completely unknown to us.
The guy was not even registered and did not have any license to be a mortgage investment advisor. I am sure, he had a lot of back up. Otherwise, he would not have been able to commit such a huge crime in the day light.
Later, we found out that he was missing and was not trackable. This was the time when we lost hope. We felt as if we had lost him. But, soon after reading the blog on dirtyscam.com, we found out that he changed his name after he was burdened with penalties. This time, he is working with the name of Edward Banayoti.
He owns few companies and his website confirms that he is working into aerospace, real estate, telecommunication and other investment areas. It was real shocking. I had always known that a crook is always a crook. And, Ernest justifies this statement better than anyone else.
If you would look into his addresses, you would find the listing of virtual offices. These offices have nothing to do with his personal presence. Rather, these are just post offices to receive mails. You can imagine the way he works. He likes to leave no trail of his crime. So, that he can run away anytime, leaving the investors suffering in cold.
There are no words that can describe this man better. He is the most cunning and selfish person I have ever known. The way he looted his investors including us, back in 2007 and then incorporated new companies repeat the history, makes him a serial scammer.
He is also one of those kinds of persons who gives damn about the loss of other people. If something is making him rich, he won’t care if that makes other millions, poor. Ernest or Edward is the same person and I deem that he has not changed at all. Apart from his appearance and name, he has managed to keep his intentions intact.
His personal life is also a mess. He has married two women and that was also for his own profit. The first one was an Englishwoman whom he married in 1961 and divorced in 1972. The other marriage happened right before the name change which worked as an armour in hiding his previous scams.
I am writing this after a long time. We had reported this when we got the news about the company being shut down. We came to know that Ernest was not put into prison, but was released with penalties.
We tried everything, but could not get hold of him or his company. However, when we learnt about Edward Banayoti, who is the same guy who scammed us in 2007, I couldn’t stop myself from reporting my loss.
If a government cannot stop people like Ernest from turning into someone else to commit the same fraud repeatedly, I would ask for a stricter law. This would place innocent people like us into more trouble.
If he succeeds after whatever bad he did to us and many other people, he would never give up. He would keep scamming people. If you ever think of investing into any of his schemes or would like to associate with him, give yourself some time to rethink. He is not worth it.