Our company Advanced Business Capital fell victim to a very unscrupulous business run by John Moroni general manager of Elmhurst Lincoln Mercury. Advanced Business Capital agreed to construct a Business Plan which was needed to help secure a loan for the company. We charged the dealership $3,500. To produce the plan.
John Moroni paid our company with a check that bounced. When confronted with this information he stated that his dealership was having financial problems and he would make the check good. He also asked me to write several letters on his behalf to satisfy his many creditors. These creditors included the Automotive Union, Hertz Corporation among others. I then received a telephone call from the Hertz Corporation telling me that Mr. Moroni had taken 12 of their cars and had not paid for them but had sold the cars to customers and titled the cars in the customers names. Hertz stated that Mr. Moroni owed them almost $200,000.
John Moroni then asked me to get copies of the titles from the Hertz Corp. Knowing that this was unethical if not illegal. The company that I found who was willing to make a loan to John Moroni's company became disinterested when they received a letter from the union's attorney. They then realized that John Moroni's company was in serious financial difficulty. I was informed that numerous managers and employees were leaving the dealership due to pay issues. Our company eventually was paid for the Business Plan.
However, Mr. Moroni told the loan company that they were taking to long and that he no longer wanted a loan from them. He also told me that he did not want the Business Plan we had prepared and wanted his money back despite the fact that Mr. Moroni signed our agreement which states that there is to be no refund. My company at Mr. Moroni's request submitted an application for floor planning. However, Mr. Moroni was turned down because his dealership is on the "knockout list" which means that Mr. Moroni is barred from ever purchasing cars at an auction anywhere in the United States.in my 20 years of dealing with business financing, I have never encountered as dishonest an individual as John Moroni.
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