|Published:||Oct 11, 2012 12:46 PM EDT|
|Updated:||Oct 12, 2012 11:06 AM EDT|
NORTH FORT MYERS, Fla. - In August, WINK News first told you about newspaper ads claiming you could buy a bag of cash for less than it's worth. We've learned more and more viewers are buying into it and Call for Action is making sure you don't waste your money.
Local people are giving up their prized possessions just for what they think is some extra cash. A warning and a reminder, if it's too good to be true, it probably is.
In a case of what he thought was free money, Marvin Douglas Whitney of Suncoast Estates gave up his most valuable possession.
"I pawned by guitar, ovation pinnacle. Its not a cheap guitar, it's a professional guitar," said Whitney.
He was hoping with the money he received from the prized pawn, he'd earn even more money.
"This is the first time I've ever been suckered into anything like this," said Whitney. "By looking at it and reading it and saying wow that's found money. Wrong."
Whitney was out the guitar and the money he'd sent to World Reserve Monetary Exchange. An ad in the local paper promised if you sent money, they would send you uncut sheets of money. The value may or may not worth the money you sent in depending on the collector's value.
As soon as Whitney's daughter found out about the ad, she made calls right away, working to get a refund. The World Reserve Monetary Exchange says you can make thousands but it's unknown when the uncut money will hold that value.
"I ordered the money. I ordered two bags. One-hundred-98 dollars is what it comes to and $219 and some change is what it all amounted to," said Whitney.
Beth Schell with the Lee County Sheriff's Office told WINK News, she doesn't know for sure if it's a scam but says: buyer beware.
"I have seen a lot of frauds and scams more than I can count on my hands and feet combined but I have not seen anything like this," said Schell in August.
More than 250 complains have been filed with the Better Business Bureau against World Reserve Monetary Exchange in the last three years. They have an 'F' rating from the BBB and a case is pending by the Internal Revenue Service Criminal Investigations unit.
Whitney just hopes others can learn from his misfortune.
"Don't do it, OK? If you don't have the money and you're not a collector and you're not really interested, don't do it. You might have to hold those bills for 2,000 years before they became valuable," he said.
After our interview, Whitney called WINK News to tell us he'd received a refund of $215.