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  • Report:  #1487813

Complaint Review: WT Enterprise Center

WT Enterprise Center West Texas A&M University West A&M University Angel investor based in Manhattan, followed a few companies to this Venture accelerator and then found out they were a fraud Amarillo Texas

  • Reported By:
    Hells Kitchen Fund — NYC New York United States
  • Submitted:
    Fri, November 15, 2019
  • Updated:
    Tue, December 17, 2019

Angel investor from Manhattan that followed a few start-ups that were accepted in this university's accelerator program.  West Texas A&M University presented Amarillo fund named Palo Duro Funds, I later found out  this was a scheme to use Texas university moneies to entice particpants in a non accredited business program. 

This group at WT Enterprise Center was completely unprofessional.  If they contact you for investment do your diligence.

2 Updates & Rebuttals


Sean

NYC,
New York,
United States

David the restaurant manager

#3REBUTTAL Owner of company

Tue, December 17, 2019

As an investor in Mr. Bem's ventures, I wish I could have enjoyed all the Amarillo restaurants that David hosted these entrepreneurs at, unfortunately in NY, we have to follow securities laws for conflict of interest.


David

Amarillo,
Texas,
United States

Rebuttal to report

#3REBUTTAL Owner of company

Fri, December 13, 2019

Gene Bem of Pecos Data Services LLC, the person that filed this report, was terminated from our WIRE Accelerator program on October 16, 2019 because of a violation of our participation agreement. The WIRE Accelerator program is a program of the WT Enterprise Center, a department of West Texas A&M University.

Palo Duro Funds, Inc., a Texas corporation, provided seed funding to founders who were accepted into the program. Mr. Bem went through the application process and was accepted to the program along with 4 other participants.

He received the first portion of the seed investment and did not receive additional investment because of his termination from the program. Please disregard his false allegations.

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