Corporate Records Service Scam
Posted: February 15, 2013
I received an important notice in the mail recently from Corporate Records Service out of Madison,WI. The "time-sensitive" business mail piece appeared to be official. But after reading through the material, I suspected the annual corporate minutes requirement request was a scam. So I pitched the letter and forms into the recycle bin at the office.
After a couple of days, I began to wonder if the 2013 Annual Minutes Form for shareholders, directors and officers of a corporation may actually be something I need to fill out. After all, it has been 15 years since I established Festival in the Pines Inc. as an S-Corporation. And for the reasonable cost of $125, I could be sure that Corporate Records Service kept my corporate minutes report up-to-date. So I retrieved the mail piece from the recycling basket and noticed the all-important phrase on the front of the colored envelope: THIS IS NOT A GOVERNMENT DOCUMENT.
Then I knew this was a scam. So it wasn't surprising when I read this week that the State of Wisconsin is seeking penalties against the owners of Corporate Records Service for falsely implying that the "corporate minutes" form was required by the state.The Department of Financial Institutions doesn't require a corporation to file minutes of annual meetings.
Apparently, the Michigan-based company has been scamming small business owners out of $125 since late January. So far, there have been at least 24 settlements between the owners of the bogus company and 16 states and federal law enforcement agencies since 2001.
For more information about the scam, call the Wisconsin Department of Financial Institutions at: 608-266-1622.
RANDOM THOUGHT: As I drove around Oakwood Mall last week, I couldn't help but notice the sign on the marquee outside of Culver's Restaurant. It stated: "Raspberry Cheesecake Walleye is Back".
Obviously, the daily frozen yogurt Flavor of the Day is Raspberry Cheesecake and the fish sandwich special features Walleye.
But I was tempted to go through the drive-through and ask for the Raspberry Cheesecake Walleye Sandwich to see if the Culver's employees had a sense of humor.