John Kovacs of Kovacs Consulting Group is a young individual of 28, who appeas to prey on people who he befriends. He befriended Doug Sperber about a year ago, and in turn became friends with all Doug's friends too. Then he started promoting his business of writing business plans. This turned into obtaining capital for your business.
John's loan scam was to charge $20,000 application fee for a Stand By Letter of Credit for $300,000. When the loan is approved, you pay another $15,000. Doug and I applied for this loan and a month later found out this is a scam. John told me I was to expect some Chase closing documents with 4.9% interest rate. Of course docs never came. Doug found out one of the partners from Kovacs, Joseph Paglia, used some of the application money for something else, and this is why the loan was not approved. Appears the application fee never went to the bank.
We are still trying to get a full refund from Kovacs Consultants at this poing. The disturbing thing about all this, is that John Kovacs has repeatedly lied about the status of this loan and the refund. He has acted in a VERY unprofessional manner and at this point has no credibility with me or any of the scores of customers he has lied to. There are many customers who applied for this loan and have yet to see a refund or a loan. I don't even know if any of John Kovacs customers ever got a loan.
Doug is doing his best to work with Kovacs Consultants to obtain refunds. I will keep this blog updated with any real progress.
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