In 2016 I was involved in trying to save a local historic film theater, and in the process of seeking investors was introduced to Chad Smith as someone who could assist in the acquisition of it. He presented himself as a knowledgeable, connected, long time investor that had family locally, and who also had a personal connection to the theater.
A few months after working with us, he presented me privately with an opportunity to invest in an up-and-coming IPO through the investment banker that was handling the IPO. The information seemed credible, and I looked into the IPO which was due to open anytime. He said that they were “pooling” money in order to meet a minimum investment amount. He initially asked that I wire the money, but I ran into issues with the wire transfer, so I drafted a cashier's check and deposited it directly into the personal account of one of the investment bankers assisting with the pool. He assured me that if I wanted the money back before the IPO opened, it wouldn’t be a problem.
In July of 2017 he called to tell me that he had several investors lined up as potential financiers of the theater, but they needed some indication that we were serious about the potential large sum of money they were going to invest. He said they needed us to deposit money into a “shared account” that would then be used to negotiate the sale of the theater. I wired $2500 of my own money. The investors later “backed out” and when I asked for the $2500 back, he sent a check via FedEx that bounced. He then subsequently wired the money back to my account directly.
In August of 2017 I realized that the IPO pool was a ruse that had never existed, so I spoke to Chad and told him that I didn’t want a part in the investment any longer. It was more than obvious that there was never any intent on using my “investment” in any legitimate way. Since that time, I have been told several times that the money would be sent as a Cashier's check or would be deposited into my account by a 2nd party, which never happened. I’ve offered to drive to Seattle, where he lives, and pick it up personally which always ends up in a scheduling conflict for him. At this point I was sure I was never going to see the money again, but held hope that I could convince him that it was the right thing for him to do. I’ve been in contact with him on and off until August 2018 when I spoke to an FBI agent who said I should cancel all communication, which I did.
This page is my only recourse at this point. I’ve parked the domain of a company that he was associated with and have started this site on it as a way to warn anyone that is in contact with, or is thinking of investing money with Mr. Smith to think twice. He will steal your money and you’ll never hear from him again.