Tag: Jared Hallows
AMP: Former Platinum space good fit
August 15, 2012Tess Nacelewicz
AMERICAN FORK, Utah—The large, dramatic letters emblazoned across the top of the imposing new office building here used to read “Platinum.” Now they say “AMP”—because financially beleaguered Platinum Protection has vacated the space and it is now AMP's headquarters.
AMP Security President Ryan Lee told Security Systems News that AMP, a summer-sales-model company like Platinum, wasn't really looking to move, but the 28,000-square-foot office space it...
More problems for Platinum: It's now charged with defaulting on $700,000 loan
April 4, 2012Tess Nacelewicz
AMERICAN FORK, Utah—CPI Security Systems, a Charlotte, N.C.-based monitoring company, is suing Platinum Protection, claiming Platinum has defaulted on a $700,000 loan CPI made to the company in January.
CPI contends in a lawsuit, filed March 29 in federal court in Utah against Platinum and its CEO Jared Hallows, that Platinum has not repaid the money as required. Also, CPI claims that Platinum is not able to properly maintain the 350 customer accounts that are collateral for the loan because...
SEC charges Utah security company investors with Ponzi scheme
December 21, 2011Tess Nacelewicz
AMERICAN FORK, Utah—Wendell Jacobson, a Utah real estate magnate who with his son provided the primary startup capital for Platinum Protection, is now facing charges from the U.S. Securities and Exchange Commission that he and his son have been running a $220 million real-estate Ponzi scheme—using their membership in the Mormon church to make connections and win the trust of potential investors.
Wendell and Allen Jacobson no longer have any involvement in Platinum Protection, based...
Platinum's founders consolidate ownership
August 4, 2011Tess Nacelewicz
AMERICAN FORK, Utah—The four main founders of Platinum Protection, one of the major Utah-based summer-model companies, now own 100 percent of the company after recently buying out an investor, according to CEO Andrew Kindfuller.
The founders' complete control over Platinum, a five-year-old company based here, will ensure its continued growth, Kindfuller said.
“It's very positive and they're quite pleased,” he said of the development.
Platinum announced July 20 that the Jacobson...
Platinum Protection 'breaking mold'
March 3, 2011Martha Entwistle
AMERICAN FORK, Utah—Platinum Protection, one of the major Utah-based summer-model companies, will recruit two-thirds of its sales reps from outside the Utah Valley, Platinum CEO Andrew Kindfuller told Security Systems News.
“We're breaking the mold,” Kindfuller said, referring to the fact that a majority of sales reps that work for summer-model companies are recruited from Brigham Young University and other Utah universities.
“We're really focused on being a national company,...