Company That Promised To Help People Get Rich Is Broke
KCNC-TV CBS4 News
The company that promised to help people get rich, the Dalbey Education Institute, is now broke. The company has filed for bankruptcy. An investigation into the company's practices isn't over. Hundreds of people across America claim they were scammed by the Westminster company.
Russ Dalbey created the company which is best known for its commercials "Winning in the Cash Flow Business. His company has filed for Chapter 7 bankruptcy, which virtually eliminates a company.
"It not only calls all the dogs off, it then sells all the assets. So after a Chapter 7 bankruptcy, a company disappears," said University of Denver's Daniels College of Business professor Mac Clouse.
So far, 308 people have filed complaints with the Colorado Attorney General's Office claiming they were scammed by the company. Court documents show gross income for the Dalbey Education Institute in 2011 was more than $21 million. Gross income for 2010 was nearly $50 million and in 2009 it was more than $62 million. more>
