Loki weapon systems

[Mrfjones]

I'm not really sure if this is supposed to go here or not but i did want to let you all know what has happened. I know a couple of people on here have rifles from them but they have now gone out of business. They left not only me (i had a 6.5 on order and paid half as well as some parts I wanted on there) but others and dealers having put money down without a refund, email or telephone number. I personally am out about $1200 so I didn't want anyone else to be like me and wonder where they had gone.

I spoke with the county sheriffs department and they are trying to build a case against them for fraud and theft.

They took the signs off their building and moved everything out, it appears that they will be filing bankruptcy.

[Taylormade]

Wow that's a pain in the butt, I hope you get your money back. You'll never get back the time you waisted waiting on something they never planned on making. Sorry bastards

[LR1955]

I'm not really sure if this is supposed to go here or not but i did want to let you all know what has happened. I know a couple of people on here have rifles from them but they have now gone out of business. They left not only me (i had a 6.5 on order and paid half as well as some parts I wanted on there) but others and dealers having put money down without a refund, email or telephone number. I personally am out about $1200 so I didn't want anyone else to be like me and wonder where they had gone.

I spoke with the county sheriffs department and they are trying to build a case against them for fraud and theft.

They took the signs off their building and moved everything out, it appears that they will be filing bankruptcy.

MrF:

The guy who owned the place is a forum member. J. Wilson is the name he used on the Grendel forums.

Find out when their bankruptcy hearings are and make a claim. You do have some sort of proof you gave him your money?

LR1955

[BjornF16]

Jwilson1985...but he is not the owner (or at least he said he was not):

PC, you are talking to the wrong guy. on that aspect. it is not my company ,it is my best friends!.so if you would like to view a product based on the way i type, I'm sorry!

but thanks for your opinion

[Mrfjones]

I do have proof, the invoice and my debit card/checking statement with matching numbers. I will try to get a hold of jwilson1985 no matter who he really is, thank you

[ericv]

I think you are going to be screwed. When they declare bankruptcy people usually just walk away and maybe creditors get pennies on the dollar. Good luck

[LR1955]

I think you are going to be screwed. When they declare bankruptcy people usually just walk away and maybe creditors get pennies on the dollar. Good luck

Eric:

Yes, that is true. I doubt Mr. F will get much if anything. We have advised people not to give money down to any outfit, no matter if they are a 'gun maker', car dealer, plumber, et. al. A reputable company will not charge a person until the item is ready to be shipped.

We had another one like this Loki place. Wardog Outfitters ripped a couple of guys off in much the same way. Demand money down and either ignore things or send them something different (and of much less value).

Guys / Gals -- a huge indicator of the viability of a gun maker is if they demand money down! If they do, it means they do not have any working capital and are sending your money to a creditor to pay a minimum on a far overdue bill. It means they are on the verge of bankruptcy. A pyramid scheme.

So, if you find a business that works this way and want our advice, it will be to find someone else to do business with. An place that puts AR-15's together today is so far backlogged that if you cancel your order, someone will pick it up instantly. There is no need for you to secure your purchase in order to be ensured you will get the thing. And, there is nothing magical about how a company puts AR-15 parts together.

LR1955

[Kikn]

Can't you dispute the charge with your credit card company.

[Mrfjones]

I tried to dispute it but they told me they wouldn't even file a claim because it was over 90 days old.

[LRRPF52]

I read on another forum that Loki stiffed the local PD out of $20,000. The cops showed up to check out what was going on, and they were gone like donkey kong. I also had inquired with Loki about a compact telestock for a PDW, and they never got back to me.

Last post from jwilson1985 was November 7th of this year, 2012. He says they will have a booth at SHOT, which I doubt now. Here's an interesting thread on AR15.com:

http://www.ar15.com/forums/t_3_118/541057__ARCHIVED_THREAD____Loki_Weapon_Systems.html&page=1

Here's another post on The Firearm Blog:

They screwed a lot if people over. I own 2 Loki billet Tactical rifles. They made a very high quality rifle. Nordic also machined their billet sets for them. Nordic machines JP Rifles billet sets too. They don’t advertise them though. Too bad they screwed everyone over in the worst possible way. I had 2 customers order 2 billet Rifles back in May and paid in full . Erik never filled these orders do I have to find a way to come up with a little more than $3,000 to pay them back. My FFL is out of my garage and I just got my FFL Feb of this year. I can’t absorb a loss like this. It def effects my family in many ways. The whole business thing went out the window, it’s def a personal matter now. It takes a special kind of person to treat others like this. He is a thief and coward. They continued to take orders knowing they wouldn’t be able to fill them. They continued to collect money up until they left dodge. The Sheriffs office in Atoka have a investigation on Loki and they plan to prosecute him. If you need info about this, email me at soonerfirearms@gmail.com

http://www.thefirearmblog.com/blog/2012/12/14/loki-weapons-systems-is-no-more/

[Mrfjones]

i read both of those in the last couple of days, though i didn't know they stiffed the cops out of anything. I reread the ar15 thread and I have to say they really made a great rifle. I could shoot beer bottle caps at 100 yards all day. I tried to contact nordic, jwilson, and another person that knew them somehow but I have yet to hear back from anyone.

the whole thing is just sad, all these people that have been screwed over. I really couldn't afford this but there are others in worse shape than me.

I will change the one upper I have to a vltor, seekins, mega or something and put the noveske lower together for it and then I will just build my grendel with the same basic components. I just hope I can ring that much accuracy out of mil surplus ammo like I can with this one.

[LRRPF52]

It's sad to see honest people cheated out of thousands of dollars, then have the perpetrators disappear into thin air. Lessons learned:

Don't front money to a relatively unknown company. Reputable businesses will not ask for that kind of money up-front, unless what you have ordered is so personalized that it has little re-sale value to them, like a custom stock-maker that fitted a hand-crafted Mahogany or Walnut piece to you.

I always got the impression that jwilson1985 worked for them, but he claimed that he was just a friend/customer. There are some posts on AR15.com that don't live up to his grammar and usage style.

I also noticed on his profile that he contacted the administrator of this site about advertising, which is a reasonable business activity normally associated with a company in an official capacity, not one for a customer.

[LR1955]

It's sad to see honest people cheated out of thousands of dollars, then have the perpetrators disappear into thin air. Lessons learned:

Don't front money to a relatively unknown company. Reputable businesses will not ask for that kind of money up-front, unless what you have ordered is so personalized that it has little re-sale value to them, like a custom stock-maker that fitted a hand-crafted Mahogany or Walnut piece to you.

I always got the impression that jwilson1985 worked for them, but he claimed that he was just a friend/customer. There are some posts on AR15.com that don't live up to his grammar and usage style.

I also noticed on his profile that he contacted the administrator of this site about advertising, which is a reasonable business activity normally associated with a company in an official capacity, not one for a customer.

LRRP52:

You mean you could actually comprehend what JW was trying to write?

I too thought he worked for them. However, it was almost impossible to understand anything he tried to write so I will leave it at that.

He certainly tied his name to the Loki reputation.

Oh well .. lesson learned for you guys. Do not give money down.

LR1955

[LRRPF52]

No, I couldn't really understand what he was saying, hence the reference to his grammar/usage "style". There are some posts under his name at Arfcom where the words are actually spelled correctly, and it doesn't sound like him at all, so I suspect someone else using his handle there.

[louieprkr]

Thats very disappointing to hear! I purchased an upper from Loki last year and I have been very happy with it, however this makes me wish I had supported a different company!