Compared to the people who made previous complaints, I actually made the initial contact to these individuals. I am an entrepreneur who is looking for funding for my startup and I came across Richmond Investments website and their claim to help obtained new business funding.
After filling out their online application, Richard Powell got back in contact with me about my application on a Friday afternoon. Richard explained to me that they have a database that has various bankers, angel investors and venture capitalist that are looking for business and/or projects to fund.
He explained that they required a credit check so the financiers are able to determine my eligibility for the $50,000 I was seeking. Though I was skeptical to give him my social and EIN because of the bad feelings I was getting with him, I ended up giving them both to him anyway. Richard wanted me to give him a call back in a two-hour period.
Instead, I gave the man two hours and he told me the results came and he was waiting to get them from the accounting department, so he told me to call back with forty-five minutes. I then told him I will call him back that following Monday, he then told me he would like for me to call him back that afternoon because he was going out in the field Monday and he want be able to get back with me.
So I called Richard back after a forty-five minute time period and he never answered the phone. I tried calling back after another hour, and again, he never picked. I left a message detailing who I was and the instructions that he gave me to immediately call him back. Not receiving a call back, I waited until that following Monday to call him back and again, he never picked up.
Remembering that he said he would be out in the field that day, I waited to here from him that next day (Tuesday). Tuesday came around and I didn't hear from him all day, so I called and left another message. Wednesday came around and I didn't hear from him again, so I called him again and no answer. Thursday came around, and again, I never heard anything from him. So I called him again for the sixth time and I left a message demanding to know the results of my funding enquiry since he obtained my personal and business information.
At this time, something told me to further investigate these people, I did a whois look up on their website name, www.richmondinvestments.com. I found that the website owner is located in Saratoga, California. I then looked up the business name on California Secretary of State office, I then found out that the company is not even officially registered no where within the state of California.
Finally after a entire week, Richard gave me a call exactly a week later (I still have the message saved to verify). After getting his message, we had a abrupt exchange and he tried explaining himself by telling me he was out in the field' those previous days. So I told him, I would think he would have the decency to communicate back with his clients.
After our exchange, Richard told me that he finally have the results for my loan and I was approved for a $50,000 loan from one of their investors, but only with the condition that I agree to one of the following conditions: a. I pay two months of the monthly return upfront, or, b. Agree to a insurance policy that they offer to protect their borrows. The insurance policy consisted of the two monthly payments and a additional three hundred or so dollars.
Richard sent me the contract for the loan and I thoroughly looked it over. I then called Richard back wanting to know more information on their company and/or other individuals that they have helped with financing. Richard then told me due to the privacy policy act, their company was unable to provide me with any information of their previous clients.
So Richard told me that he would have his supervisor all me to rectify the matter that I have. An individual by the name of David Spencer then called me later on that day (he sounded a lot like Richard to me) and David tried explaining to me their policies on protecting their previous clients. I then told David that I did my research on their company and found out that the owner of the website is located in Saratoga, California.
I then explained to him upon receiving the contract and find out that they have a New York state address, I looked on the New York Secretary of State website to find out if they were a legit business and find nothing listed with the State of New York either. I also told him I called the phone number listed on the contract and it was disconnected.
Surprisingly, David began studdering and tried explaining himself and the business. Not believing his explanations, I then told him in order for me to move on, I had to see some kind of proof that they existed and they are a legitimate running business. David then told me that he would have their business license faxed to me within a few hours but I never heard anything back from them.
That following Monday, I tried calling them to find out what was the hold up and they never returned my phone calls. For weeks, I tried gathering more information on these people and I finally came across this website (rip off report). I later find out that their other phone number is disconnected and their website is now down.
I still have the voicemails that David and Richard left me to prove my case, I am trying to make sure these people are not trying to commit credit fraud and any type of identity theft with my social and EIN.
Please do not work with these people, they are a fraudulent. I have reason to believe that David and Richard could be the same person playing elementary school games. If you have had any experience with these people, regardless if you submitted money as collateral or not, please email me with your experiences and contact information so we can catch these people and do something about them.
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