Groupe 369 has done it again! Too bad they cant say that about closing any loans.
This entire process started around 8-29-09. We were introduced to Groupe 369 through Cynthia Kozacik of Venture West Capital which is based out of California. Although we had not heard of Groupe 369 before, this broker assured us that she had done a previous deal through them successfully. Unfortunately, we should have asked for the proof.
Shortly after our lengthy discussions with Cynthia regarding Groupe 369 and their validity as a lender we decided to move forward and proceeded to send all appraisals, financials, bank statements, profit/loss statements. You name it, we sent it. We received a letter of commitment from Groupe 369 on 9-10-09. The loan was for up to $2.75 Million, with an interest rate of 12% and a 2 year term, etc. After reading it carefully, the main problem we had was with the deposit amount of $18,000. We asked that they revise the letter of intent to include verbiage that would require Groupe 369 to provide an accounting ledger of cost, including internal cost and copies of all third party invoices. The verbiage also stated that these documents would be provided PRIOR to any loan commitment or DENIAL. We also required that in the event the $18,000 was not depleted, the remainder would be refunded. Once we received the addendum to the letter of intent. We began the waiting game which of course started off with Groupe 369 requesting due diligence forms for information that had been sent to them prior to receiving the letter of intent. We obliged them and Cynthia by providing the redundant information on several occasions.
Interestingly enough, when we followed up with the broker regarding when the site visit would occur, she stated she was also waiting for the answer to that question. After she spoke with someone at Group 369, they told her that the site review had already been completedwhich of course came as a complete surprise to the broker who assumed it was still waiting to be scheduled. The broker was told that the official report from Groupe 369 would follow shortly. Needless to say, this report has never been seen to date.
Now remember that at this point we should have an accounting ledger that states at least some type of receipts for travel expenses, as they state the site review had been completed. When we follow up with Cynthia regarding the status of the loan she is told that it is still in underwriting. We get this song and dance for about another month until finally on 11-23-09 we receive the infamous denial letter from Groupe 369. They state the zoning on the land is the reason for the denial. Let me fill you in on our client and the proposed property that was up for collateral. The collateral is an unimproved parcel of land appraised at 3.85 million. The land wasnt even going to be used to build on. It was simply to be used for collateral. So our first question was what does zoning have to do with anything. Besides this obvious factthe land is already zoned for general commercial use.
We have already formally requested a refund of the $18,000 deposit along with all copies of third party invoices and accounting ledgers. We have filed a complaint with the FTC, FBI and generally any other agency we could find that would address consumer complaints regarding this type of blatant fraud.
To be perfectly honest and after doing much research and diligence, we believe that this problem is bigger than just a company called Groupe 369. We believe that the attorney, Jeffrey Flicker, is involved and knows exactly what is happening. We also believe that he tries to hush up people like us with monetary bribes. We believe that there are many brokers, such as the ones from Venture West Capital, that are possibly receiving some type of monetary earnings for producing leads to Groupe 369 that result in a deposit of monies. This has gotten to the point that we believe this is a conglomerate network of individuals ranging from attorneys, brokers and presidents of financial institutions that are benefiting from the demise of our clients. During our research, we found that the broker/owner for Venture West Capital: Anthony Sanchez, claims that he never had a Cynthia Kozacik working for him. Even though we have documents regarding groupe 369 and our loan in question on his companies letterhead. On that document, there is an email address for a jkrebs. After reviewing the Linked In profile for Cynthia Kozacik, we find that she knows a Ray Krebs (who happens to be the president of Bankers Capital). We dont believe this is a coincidence. We started to place more due diligence calls and suddenly Ray Krebs vanishes from the linked in profiles and is nowhere to be found. Cynthia Kozacik supposedly works at Statewide Bankcorp, which is now First Mortgage Corp. The bottom line is dont deal with these people listed below:
Groupe 369
VENTURE WEST CAPITAL
12487 NORTH MAINSTREET #240
RANCHO CUCAMONGA, CA 91739
Brokers: Anthony Sanchez
Brokers: Cynthia Kozacik
BANKERS CAPITAL: Ray Krebs (president) This piece of shit is definitely in cahoots with Groupe 369.
We would like to get in touch with anyone that has run into similar problems with this Group so that a civil lawsuit can begin immediately. The power of many will succeed and be heard. Please feel free to contact me, Gideon at: (509) 230-7143 to discuss joining our lawsuit. We would also like to send a message out to all the people that are putting complaints on these forums, but dont want to actively do anything about ityou are all a bunch of fags and cowards. How can you let someone just steal money from youwhether it be your clients or your own. Its damaging either way you look at itlets get together and actively do something about this, now. Before its too late. Hopefully the authorities get involved before someone starts getting hurt physically.
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