Better Business Bureau (BBB) serving Canton Region & Greater West Virginia is issuing an alert on Waterford Management, which claims to provide building management and janitorial services, and purports to operate out of Minneapolis, MN. BBB has received several reports from janitorial supply companies saying Waterford Management has picked up tens of thousands of dollars' worth of cleaning supplies from them in recent weeks and left them holding the tab. BBB advises all business owners to be extremely leery of solicitations from Waterford Management.
"This is a bit unusual in terms of scams of this nature," said Frank Cilona, President and CEO of BBB of Canton Region & Greater West Virginia. "Normally, bogus entities like to operate remotely, sticking to wire transfers which are hard to trace. In this case, they're actually working with third-party shippers to pick up merchandise and then transporting it to points unknown."
On March 28, BBB confirmed with building management at the address Waterford Management claims as their Minneapolis location that Waterford was no longer at that address. Based on BBB's review of Waterford Management, it appears they are a highly-organized operation. Multiple businesses that have reported losses to Waterford stated they - Waterford Management - had gone through their credit application process, supplying both professional references and banking information, all of which appeared to check out. At that point, sales agreements were signed and Waterford Management contracted with third-party shipping companies to pick up cleaning supplies from these companies. After the pick-ups were made, these businesses report that Waterford stopped communicating with them. Subsequently, it was discovered the banking information Waterford had submitted did not hold up to closer scrutiny.
BBB has begun reviewing the companies Waterford Management listed as references. The first, Infinitera Products, claims a Minneapolis address. However, BBB has determined the entity is not at the location listed on their website. The same is true of P.G. Molin Company, another entity claiming to be located in Minneapolis. However, BBB has determined a Twin Cities professional not affiliated with P.G. Molin is actually located at that address. The third entity listed as a reference by Waterford is Tridentek (also doing business as Tridentek Global Supply). BBB has determined the Minneapolis address listed on Tridentek's website is a virtual office. We are trying to learn more about this entity.
BBB is urging people who have lost money to Waterford Management to report their experience to BBB Scam Tracker, FBI's Internet Crime Complaint Center (IC3), and the Federal Trade Commission. BBB also urges all businesses, particularly vendors, to closely review their vetting processes and to verify all references provided before doing business with new customers.
ABOUT BBB: For more than 100 years, Better Business Bureau has been helping people find businesses, brands and charities they can trust. In 2015, people turned to BBB more than 172 million times for BBB Business Reviews on more than 5.3 million businesses and Charity Reports on 11,000 charities, all available for free at bbb.org. There are local, independent BBB's across the United States, Canada and Mexico, including BBB Serving Canton Region/Greater West Virginia, which was founded in 1961 and serves 12 counties in Ohio and 52 counties in West Virginia.