Employees for The Bethany Group have been providing services across the country in 10 states and at 59 Apartment Communities with no pay since January 30th, 2009!
Our paychecks started coming late around Thanksgiving. We were patient. We accepted the weak excuses of bank errors and missed deadlines by investors. We didn't believe these excuses, but in today's job market a late paycheck is better than no paycheck. So we hung in there. Vendors have also not been paid, in some cases properties owe vendors for services dating back to 2006! We were cut off from every major supplier in the industry. We took money out of our own pockets to make repairs to the apartments when upper management would not or could not approve the expenditures. We have not been, and will not be, reimbursed for these expenses. We were told that a "recapitalization" effort was under way and that we would be free of the financial pitfalls once the "funding" came through. Maintenance teams have not been able to purchase any supplies since October. In fact, most properties stopped leasing activities altogether in November because we simply could not get apartments ready.
There have been articles and news clips (in Maryland and Arizona so far) about overflowing trash and utility shut off notices... but it is important to know that these employees have been berated, belittled and threatened with personal litigation because of the business practices of Greg Garmon, CEO of Bethany Group and Jeff Silverman, CFO of Bethany Group & Michele Silverman (yes, related) of VS Management the payrolling company that I technically had an employment contract with! We are facing empty bank accounts, nsf fees, repossessed vehicles, evictions... name it! Yes, the bank will take back the Apartment Communities. Yes, there will be a new company assigned to take over the day to day operations. But nobody is taking responsibility for the 5 weeks worth of work that these employees are due! There is finger pointing, back stepping, & flat out lying in regards to responsibility! And yet, the employees show up everyday to take care of the residents in the most professional manor possible. And the residents are angry! Justifiably so! The properties are not being kept up to the standard that was evident when they first moved in... (I beg you to not blame the employees for this! We are as dedicated to you as ever, we just have not had the support or resources necessary to give you what you deserve!) Bethany Group filed bankruptcy and is therefore no longer "solvent"; due to this, the employees have very little recourse! Being "right" in this isn't going to pay our bills! We need and deserve justice! (and so do the vendors, many of whom have gotten judgements... but haven't seen a dime!)
I sent an email to Greg Garmon yesterday... I did not get a response, so I will ask again here: I started working at my property in December 2007. From the day I started through yesterday, 3.7 Million dollars was put into the bank and not even 1.5 Million dollars was spent on behalf of the property. Where is the other 2.2 Million dollars?
I WANT ANSWERS... AND I WANT THE TRUTH THIS TIME!!! OH, AND PAY US!