Investors say they lost thousands with Round Rock company

ROUND ROCK, Texas (KXAN) — Investors from around the country are filing complaints with the Better Business Bureau in Austin against a Round Rock-based company.

“Only real change comes from taking action,” according to Rich in Five’s website. Some people bought into the offer, but said the only change they saw was thousands of dollars leaving their wallets.

“It was probably two or three months into that program I realized things probably aren’t as kosher as I thought they should be,” said Oklahoma City investor Cory Wilkinson.

Wilkinson said he met Rich Within Five’s manager Jason Schubert in 2010. Wilkinson bought a hotel in Arkansas and paid Schubert to run it, but nine months later the hotel folded, according to Wilkinson.

“There was no transparency in what he was doing,” said Wilkinson.

At least five complaints have been filed with the Better Business Bureau in the last three years.

“Anytime you try to get a hold of Jason, it was ‘you know I’m at the airport, I’m flying out, I’ll call you in three hours.’ Never hear from him,” said Wilkinson. “There’s no nuts and bolts to what’s going on here, it’s just casual stuff that just kind of strings people along.”

The Better Business Bureau has requested Rich in Five have a disclaimer on its website. The BBB said last month Schubert told them he would address complaints after Thanksgiving, but it has yet to hear back from him.

KXAN could not initially reach Schubert for comment, but he later offered the following response:

“The matters asserted as fact in your Investigative Report last night are in dispute and Rich Within Five, LLC denies any wrong-doing.

In July 2014, Jason Schubert and Rich Within Five, LLC filed suit in Williamson County, against Cory Wilkinson, who was featured in your Investigative Report, and several others, for, among other things, defamation.

Further, Rich Within Five, LLC is not aware of eleven (11) Better Business Bureau complaints against it as asserted in your Investigative Report. However, Rich Within Five, LLC is currently aware of four (4) complaints against it, including one made by Mr. Wilkinson, and Rich Within Five, LLC is currently working with the Better Business Bureau to resolve these complaints.

Also, Rich Within Five, LLC has already included a disclaimer on its website http://www.richinfive.com and is taking steps to have this disclaimer placed on each page of its website.

Finally, Mr. Schubert was never paid by Mr. Wilkinson to “run” any hotel owned by Mr. Wilkinson in Arkansas.

Rich Within Five, LLC is in the business of offering commercial real estate coaching. Customer service is very important to me and to Rich Within Five, LLC. Thank you for this opportunity to respond and help protect our good name.”

Initially, KXAN incorrectly reported the number of complaints as 11. The correct number is five, according to the BBB. A BBB spokesperson had said 11 people were willing to talk about their complaints for KXAN’s story.

When you are looking for investment opportunities, the Better Business Bureau says there are some warning signs to keep in mind.

  • For one, beware of high-return for low-risk promises.
  • If a seminar offers a plan claiming large returns with little or no risk — it’s likely too good to be true.
  • The BBB also warns people of high-pressure sales tactics.
  • If it claims you have to sign-up now… that could be a red flag.
  • And also beware of making large, upfront investments.
  • One of the most common complaints is when consumers pay fees and don’t receive the promised income.

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