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CTV News
29-07-2025
- Business
- CTV News
‘I have nightmares': Surrey woman fighting to get back $375K
A woman who lost hundreds of thousands of dollars in an apparent investment scam is sharing her story and warning would-be victims. A woman from Surrey, B.C., claims to have lost $375,000 in an investment scam. In February, Vikashni, who describes herself as a behaviour therapist, had a goal of building a school for children with autism, providing support to families in need. She explained that a family friend had convinced her to invest money through a prior business partner to help pay for the construction. 'So, I said, 'okay, I'll do that,' and I said, 'I'm really hesitant because I don't know Robert and the wife really well, but because I know you, I trust you,'' said Vikashni. The friend was referring to a couple named Robert and Kim Kiyosaki. Names that also coincide with two well-known American businesspeople and authors. Vikashni says the initial transfer was $20,000 and was assured her return on investment would be about half within two weeks. Through a WhatsApp group chat, she says the so-called investors informed her that she had to pay $43,500 to the agents who had sold the property. Vikashni says she thought this was strange after selling a property in recent years and knowing that the money never came out of her pocket, but rather from the profit of the sale. She went on to say she declined and asked for her money back and by March, she hadn't received anything. Vikashni says that same month, her friend reached out to her saying that he invested $600,000 and it was being held due to her not paying her share of the agent fee. Over the next few months, documents and receipts indicate Vikashni sent tens of thousands of dollars, one transfer as large as $157,000, that was flagged by the bank. 'I have nightmares. I have panic attacks. Sometimes I go to sleep and I can't even breathe thinking about how I'm going to get my money back,' said Vikashni. CTV News attempted to call her friend, but that number was no longer in service and on WhatsApp it kept ringing with no answer. Attempts were also made to call the so-called investor with the number provided by Vikashni. That number, according to Verizon Mobile, has been changed. Media relations for Robert Kiyosaki told CTV News in an email that, 'this is obviously someone claiming to be him' and that 'fraud and Identity theft run rampant and high-profile individuals are easy targets.' The email went on to say, 'We have no comment and support tighter controls on all types of fraud.' The Surrey Police Service is aware of the incident involving Vikashni and says it has been reported to police. SPS explained that there is a similar pattern to what they see in a lot of scams. Police called the tactic a 'spray and prey.' 'They're looking to cast a wide net, hoping to catch a few, in this case big fish, and ultimately put hooks into people where they're going to give cash, usually in the pursuit of more cash,' said Ian MacDonald, a spokesperson for the SPS. He went on to say that it falls into the category of 'if it's too good to be true, it probably is,' and recommends that everyone stay vigilant and conduct research if approached with an investment opportunity. In a statement to CTV News, the Royal Bank of Canada, which Vikashni says froze a $157,000 investment, wrote that it understands fraud or a scam can be a difficult and stressful event. 'We encourage clients to contact us if they believe they have been impacted by a scam or fraud, as we investigate each instance on a case-by-case basis,' wrote the bank. 'While we cannot comment on the specifics of this situation, we can advise that we take client concerns seriously and are communicating with our client directly on this matter. ' Vikashni is calling on the bank for help to retrieve the lost and frozen cash. Although in the meantime she is hoping by telling her story it will help prevent others from being scammed.
Miami Herald
15-06-2025
- Business
- Miami Herald
Verizon announces wild new offer to win back angry customers
Over the past year, Verizon (VZ) has embarked on the shaky path of gradually hiking the prices of its services, which has frustrated some of its customers. In January last year, Verizon increased the monthly prices of its myPlan and New Verizon Plan wireless accounts due to "rising operational costs." Don't miss the move: Subscribe to TheStreet's free daily newsletter During an earnings call later that month, Verizon Consumer Group CEO Sowmyanarayan Sampath said customers "feel very comfortable" about the company's prices, since it was "delivering more value." Related: Verizon makes bold move to make it harder for customers to leave By March, Verizon also made the harsh decision to increase the price of its Verizon Mobile Protect Multi-Device plan and Verizon Mobile Secure Multi-Device plan by $8, which applied to wireless customers with four to 20 lines. Image source: Morris/Bloomberg via Getty Images In response to these changes, customers took to social media to express outrage, with some even threatening to switch phone providers. In April, Verizon revealed in its first-quarter earnings report of 2025 that it faced a net loss of 289,000 total postpaid phone customers during the quarter. In a note to investors, analysts at New Street Research said the steep loss in customers matches Verizon's "worst result on record." Related: Verizon raises red flag about concerning customer behavior During an earnings call that month, Verizon CEO Hans Vestberg admitted that recent price increases contributed to the steep decrease in customers during the quarter. "We did have a slow start on postpaid phone net adds, largely driven by elevated churn due to recent price ups and pressure from federal government accounts," said Vestberg. Amid this alarming change in customer behavior, Verizon has decided to make a generous offer to attract and retain customers. The company has announced a new bundle in which new and existing customers with a myPlan mobile account can obtain a smartphone, tablet, and smartwatch when they trade in an eligible phone. The bundle specifically allows Apple users to receive an iPhone 16 Pro, iPad (A16), and Apple Watch Series 10. Google users can obtain a Google Pixel 9, Galaxy Tab A9+ 5G, and Pixel Watch 3. Also, Samsung users can get a Samsung Galaxy S25, Galaxy Tab A9+ 5G, and Galaxy Watch7. More Retail: Costco quietly plans to offer a convenient service for customersT-Mobile pulls the plug on generous offer, angering customersAT&T makes generous offer to older customers Customers should keep in mind that the phones they choose to trade in for the bundle must be from Apple, Google, Samsung, or Motorola. Apple users will receive a $1,000 trade-in credit for their new phone, which will be applied over 36 months. Google and Samsung users who trade in their phones will receive a $799 trade-in credit. When customers receive an Apple Watch or iPad, they can get up to $499.99 off via monthly credits when they add a new line to an eligible plan that starts at $20 per month with autopay. The same rule applies to customers receiving watches and tablets from Samsung or Google; however, they will receive up to $349.99 in monthly credits. In addition to Verizon's new tech bundle, it is offering customers Amazon gift cards if they switch to a Verizon Home Internet plan. If customers switch to a 5G Home Plus, LTE Home Plus, Fios 2 Gig, or 1 Gig (500 Mbps at non-Gig addresses) plan, they can receive a $200 Amazon gift card. Customers who switch to a 5G Home, LTE Home, Fios 300 Mbps, or Fios 500 Mbps plan can receive a $100 Amazon gift card. Related: AT&T makes generous offer to older customers The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Miami Herald
24-04-2025
- Business
- Miami Herald
Verizon suffers major loss as customers switch gears
Verizon (VZ) ruffled a few feathers at the beginning of this year when it decided to continue down the path of hiking prices for its mobile services. Shortly after ringing in the new year, Verizon announced in January that it was raising the monthly prices of its myPlan and New Verizon Plan wireless accounts due to "rising operational costs." Don't miss the move: Subscribe to TheStreet's free daily newsletter By March, it increased the price of its Verizon Mobile Protect Multi-Device plan and Verizon Mobile Secure Multi-Device plan by $8, which applied to wireless customers with four to 20 lines. Related: Verizon announces generous offer, but customers should beware While these significant pricing changes took place, many Verizon customers took to social media to air their frustrations about higher prices, with some threatening to switch phone providers. Image source: Morris/Bloomberg via Getty Images Amid these threats, Verizon recently revealed in its first-quarter earnings report for 2025 that while its wireless revenues increased by 2.7% year-over-year during the quarter, generating $20.8 billion, it faced a net loss of 289,000 total postpaid phone customers. In a note to investors, analysts at New Street Research said the loss in customers matches Verizon's "worst result on record." During an earnings call on April 22, Verizon CEO Hans Vestberg admitted that recent price increases contributed to the dip in customers during the quarter. Related: Verizon makes a desperate move to lure back fleeing customers "We did have a slow start on postpaid phone net adds, largely driven by elevated churn due to recent price ups and pressure from federal government accounts," said Vestberg. Despite this loss, Verizon Consumer Group CEO Sam Path emphasized during the call that the company does not regret recent price hikes. "We made a decision to price up certain cohorts in December and January, and they were the right trade-offs to make," said Path. "It helped us lock the revenue for the rest of the year, and it was the right thing to do." Vestberg also warned Verizon customers may soon see higher prices for mobile devices due to President Donald Trump's tariffs. Tariffs are taxes companies pay to import goods from overseas, and the additional cost is often filtered down to consumers through increased prices. "If we're going to see those type of increases on handsets that we've heard, we are not planning to absorb those," said Vestberg. "I mean, that needs to be passed onto the customers. That's the only way to do it because that's so much money." More Retail: AT&T quietly issues stern warning to customersSam's Club makes a big change to a beloved membership perkGameStop announces risky move amid store closures The warning comes after Verizon Chief Financial Officer Tony Skiadas flagged last month that the company is noticing year-over-year declines in the number of customers upgrading their phones. "Customers continue by choice to hang on to their phones for longer periods of time," said Skiadas during a Morgan Stanley conference last month. "The average upgrade cycle for us is up over 40 months. It's like 42 months right now. So the phones are made better. And from our standpoint, we'll continue to be disciplined in our approach to retention." In an effort to attract and retain customers in light of recent challenges, Verizon plans to pull several levers. "We are doubling down on our customer-first strategy with an increased focus on customer retention with the Verizon value guarantee, an industry-leading three-year price lock, free phone guarantee for everyone, and savings you cannot get elsewhere," said Path during the earnings call. Earlier this month, Verizon began offering a new three-year price lock guarantee to new and existing customers who have myPlan and myHome network plans. In addition, it has also started offering customers a free phone and home internet router when they trade in their devices. However, perks, discounts, taxes, and fees are excluded from this price-lock guarantee, which means that Verizon can still raise monthly bills by hiking fees or slashing discounts. Related: Veteran fund manager unveils eye-popping S&P 500 forecast The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Miami Herald
04-04-2025
- Business
- Miami Herald
Verizon announces generous offer, but customers should beware
Verizon's (VZ) continuous price hikes have left some of its customers frustrated and ready to defect to the phone carrier's competitors. Verizon has already announced two major price increases this year, and it's only April. In February, it officially increased the monthly prices of its myPlan and New Verizon Plan wireless accounts due to "rising operational costs." Don't miss the move: Subscribe to TheStreet's free daily newsletter By March, it quietly added a brochure to its website warning customers with four to 20 lines that the monthly price of its Verizon Mobile Protect Multi-Device plan and Verizon Mobile Secure Multi-Device plan will increase by $8 on March 27. Related: Verizon makes a desperate move to lure back fleeing customers Amid these price increases, it appears that Verizon is making a peace offering to customers by announcing a generous new deal. Customers should, however, proceed with caution. Source: Bloomberg/Getty Images The phone carrier has announced a new three-year price lock guarantee, which is offered to new and existing customers who have myPlan and myHome network plans. Customers will automatically be enrolled into the deal, and if they choose to change their myPlan account, the price lock resets for another three years. In addition, Verizon is also offering customers a free phone and home internet router when they trade in. Related: T-Mobile hopes to win back angry customers with generous offers "We're committed to delivering what our customers want and need, offering more control, value and simplicity," said Verizon Consumer CEO Sowmyanarayan Sampath in a press release. "That's why we're proud to introduce this industry-leading guarantee: a 3-year price lock across mobile and home, which provides peace of mind and a free phone on every myPlan, giving customers even more value. Despite the generous deal, Verizon warns customers in the press release that "taxes, fees, and perks" are excluded from the three-year price lock guarantee. This keeps the door open for Verizon to continue raising monthly bills by hiking fees or cutting monthly discounts, as it did with its autopay discount in October. Verizon recently faced controversy over a mandatory monthly fee it adds to bills. In December, the phone carrier quietly increased a monthly fee called the Administrative and Telco Recovery Charge by $0.20, which angered customers. According to the company's website, the fee helps to "defray and recover certain direct and indirect costs" its agents incur. More Retail: AT&T quietly issues stern warning to customersSam's Club makes a big change to a beloved membership perkGameStop announces risky move amid store closures Last year, Verizon even faced a class-action lawsuit for allegedly "misleading" customers about the fee's purpose. Customers also alleged in the lawsuit that the fee was not disclosed in the monthly price of their wireless plans. "The first time Verizon customers can possibly learn about the existence of the Administrative Charge, or the amount of the charge, is on the customer bills, which they begin receiving only after they have signed up for wireless service and are financially committed to their purchase and cannot cancel without penalty," reads the lawsuit. "Verizon then omits or misrepresents the so-called Administrative Charge on its customer bills to further its scheme." Verizon ended up settling the lawsuit in October for $100 million. Verizon's new price lock guarantee comes after Sampath hinted during an earnings call in January that more price increases may be coming down the pike this year. "We cannot, of course, comment on future price-ups, but we will look where we see lower churn, where input prices are a little higher, and more importantly, the value that we deliver to customers," said Sampath. "For 2025, the price actions that we've already done are in the hopper. More than $1 billion-plus of our service revenue growth is already baked in just with those price-ups." Sampath also said during the call that customers "feel very comfortable" with the company's prices. "We had four major price-ups in 2024 [and] we've had two in 2025, because we are delivering more value to our customers, and they feel very comfortable with our price structure," said Sampath. Related: Veteran fund manager unveils eye-popping S&P 500 forecast The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
