I submitted a Frank Vogel and Arlington Richfield on 7 for a $6.8 million construction loan. They required a $25,000 fee that we paid upon executing their LOI. This was a non refundable application fee. It was payable to Arlington Richfield, Inc. For "services provided by Arlington Richfield to Applicant... including its review of third party reports and studies (including surveys, engineering reports and environmental assessments) however none of this was done. This company literally took money without securing financing which is an illegal business practice.
After a month of stalling and a lack of financing, they told us their "Pension Fund" was delaying evaluating deals. A month after that, all form of communication from Frank Vogel and Arlington was eliminated. We are pursuing the matter legally after 6 months of patiently waiting without any sufficient updates. They just ran off with my client's money.
I would recommend to anyone to stay away from this lender and to report them to the proper authorities so we can prevent events like this from happening again. Also, I would appreciate that all other complaints filed on this site will be linked to this report so everyone can see the pervasive and bold criminal activity that this company has done throughout the years. Arlington Richfield and Frank Vogel are crooks indeed!
IRLG
San Diego, California
U.S.A.
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