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Weekly Bulletin Board Complaint Report 1/13/04
This headline is a misnomer, as the reports have become monthly. It was
our intention to issue them more often, and it is not that we don't have
complaints to work on, it is just not enough time as they are “fluid.”
- “I am writing as a warning on a current scam taking place by ************. I found this company on the internet under a search for equipment leasing & financing at ************. The website was very professional and prompted me to call. I talked with rep ******** who seemed very knowledgeable about leasing and did not pressure sell. He told me that in order to start the lease process that I would have to send an up front deposit which would apply toward my first payment if approved and would be returned if I was denied financing. I questioned this practice and he assured me this was an industry standard practice and that they needed a monetary commitment, so I would not take my business elsewhere after they put in all the effort on my lease. So I was still skeptical and called the Better Business Bureau and Chamber of Commerce that are listed on their literature about their membership status. ******checked out as a long time member in good standing, so I felt confident that I could send the deposit, and felt that it would speed up the process. I was then sent several faxes from *********** on his requirements to proceed with the lease i.e. financial statements, tax returns, equipment list etc. Everything seemed to be on the level. I then tried countless times to contact ****** regarding the status of the lease. I began this process in the middle of Sept and today is Nov 25 2003, and I still have not spoken to ******. This company has a receptionist and very professional image on the surface, but I now know that it is all a lie. Someone needs to shut this companies web site down, so there are no more victims. I am also concerned about what they will do with some of my confidential information that was sent to them in good faith. Please let me know if you have any other suggestions regarding this matter.”
- This started in early December and concerns a major leasing company
California who's salesman approved a lease for $150,000 for a company with
a proposal letter. Only $36,000 was funded, and through a third leasing company,not theirs, and they later denied the remaining amount.
The problem stems that the vendor received a copy of the approval, shipped the equipment, received $36,000 for one part of the system, and now is suing
the “lessee” for the remainder.
The complaint centers around whether the leasing company actually made an approval to the lessee for $150,000. Whether the vendor should have shipped on an approval, or order for part of the system, is not the complaint.
- From late December: A broker has a signed commitment letter and was successful in getting the lease approved, but the approval is not the same as the commitment letter. It is higher. The price of the equipment changes, and so did the lease rate.
The broker says he earned the money because he got the lease approved.
- On the advice of our legal counsel, the names and places have been
changed to protect the “innocent:”
“In the December 2, 2003 edition of Leasing News I noticed a Help Wanted
advertisement from **************. I responded directly and
found the ad was placed by ****t. We met, had several conversations and
ultimately agreed on employment. ***** was reluctant to provide current
business references until he actually resigned from his employer, ****** where he was employed as a *******.
“We respected his wishes and didn't contact that company.
****** was to start work this Monday. He was a no show. No call, no
letter, no email. We have subsequently discovered that ***** hasn't worked for******* for over two years, he was never a ******** and apparently doesn't live where he claims he does. We have left several massages without the courtesy of a reply. We suspect that ***** may not be the person he represented himself to be and likely has accepted or is seeking employment at some other leasing company in the (SouthWest.)
“ I am writing you so you can alert your readers to carefully investigate
this person if he has applied for a position.”
Richard Wilbur
Managing Partner
Media Capital Associates, LLC
rick@mediacap.com
(480) 941-8558 ext #104
( In the early days, we would post these alerts, but due to all the legal
issues we have been exposed to since we started, we are afraid to post this “complaint” or “alert.” This is a discussion for our advisory board, along with our
legal counsel, on how to report such things, particularly if it comes
from one of our classified ads. We do not pre-screen those who post
an ad for employment. We are presently up-dating and verifying
classified ad listings list. editor)
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