facebooktwitterRSS
- Advertisement -
  • Most Commentedmost commented up
  • Most Emailedmost emailed up
  • Popularmost popular up
- Advertisement -
 

« News Home

Man files suit over investment in pay phones



Published: Sat, February 2, 2002 @ 12:00 a.m.



YOUNGSTOWN -- A Youngstown man is suing a Boardman investment company, saying he was misled into investing $85,000 in pay phones.

Jeffrey Urbanek of Illinois Avenue filed the suit Thursday in Mahoning County Common Pleas Court against Ron Wilson and his company, R & amp;J Funding.

Urbanek made his investment in July 2000 after Wilson told him he would receive a 14 percent return, the suit says. Urbanek was told the investment was insured and it was of little or no risk, the suit says.

Later, Alpha Telcom, which operates pay phones, filed for bankruptcy and told Urbanek it will not make any more payments to him, the suit says. In the investment, Urbanek bought phones, which were leased and managed by Alpha Telcom.

The suit says R & amp;J gave him false and misleading advice regarding the investment. Wilson declined to comment on the suit.

Urbanek is seeking $85,000, plus interest, and punitive damages of $500,000.




Comments

Use the comment form below to begin a discussion about this content.


News
Opinion
Entertainment
Sports
Marketplace
Classifieds
Records
Discussions
Community
Help
Forms
Neighbors

HomeTerms of UsePrivacy StatementAdvertiseStaff DirectoryHelp
© 2014 Vindy.com. All rights reserved. A service of The Vindicator.
107 Vindicator Square. Youngstown, OH 44503

Phone Main: 330.747.1471 • Interactive Advertising: 330.740.2955 • Classified Advertising: 330.746.6565
Sponsored Links: Vindy Wheels | Vindy Jobs | Vindy Homes | Pittsburgh International Airport