Pacific Modeling & Acting Academy out of California (and offices in Seattle, WA) advertised on Disney Channel & Nickolodeon and appealed to kids to call for evaluation (cold reading for commerical, bring pictures, etc.). My son begged us to call. They set up an elaborate meeting the weekend of April 19th & 20th with many familes & children at the Tampa Convention Ctr. The room was packed and familes were standing. Children with potential were called back the next day and presented with 3 different course options (from $2, 400 to $8, 900). We checked with the state Attorney Generals Offie, Better Business Bureau, etc., for legitimacy and found nothing negative. Today parents & children that signed agreements and paid money showed up at the Convention Center for the scheduled May 31st clases and Pacific Modeling & Acting Academy was not there; they didn't notify anyone and attempts to reach them through various phone numbers were unsuccessful. The company emailed us this a.m. and said they "couldn't secure outside financing necessary to continue operations" and are looking at bankruptcy. Aren't you supposed to secure financing first before you offer classes? Families got ripped off and children are devastated. How do we keep companies from forming, blowing into town, taking money, and then filing bankruptcy? Shame on the Tampa Convention Ctr. for letting them rip off the hard working people of Tampa. They should put restrictions on companies comming in such as not requiring money other than small deposit amounts. How can our state allow these scammers to do this without placing controls? We even called the Attorney General's Office yesterday and there were no complaints (?). Yes, we are one of the morons that gave money ($8, 900). We knew we were probably taking a chance but there was nothing negative reported about them. I think because they established themselves in March 2008 and therefore started with a clean slate. How do we protect people in the future from recently established companies with no history? It's not totally our fault that we love our kids and wanted this for them. The scheme was elaborate; they even had Melissa Hirchenson (Innovative Artists) show up to help rip off people. These people are scum of the earth and should not be allowed to get off by using bankruptcy -- they need to be criminally prosecuted for taking the money of hard working parents.