• Report: #5240

Complaint Review: Platinum Capital Group

Featured Ripoff Reports

Past Featured Reports

Ripoff Report Corporate Advocacy Program
Help support Ripoff Report. Donate today.
Ripoff Reports Legal Ads

Ripoff Report Legal Directory

Thank You

Read how Ripoff Report saves consumers millions.

  • Submitted: Thursday, May 24, 2001
  • Last Posting: Wednesday, May 30, 2001
  • Reported By: — Tucson Az
Platinum Capital Group
17101 Armstrong #200 Irvine California 92614 U.S.A.
  • Phone: 1-800-523-5363
  • Web:
  • Category: Employers

Platinum Capital Group - Mortgage Banker in Irvine California screwing employees *UPDATE *REBUTTAL'S


3Author 0Consumer 0Employee/Owner

Respond to this Report

  • Respond to this report!
    What's this?
  • Also a victim?
    What's this?
  • Arbitrate
    Set The Record Straight!
  • Repair Your Reputation
    ...the right way!
    Corporate Advocacy Program
My Daughter, Husband and myself were hired by this company located in Irvine Calif. We were hired to operate a branch office for them in Tucson, Az. We have all been involved in the Mortgage business for the better part of 30 Years. We Had owned our own company prior to this, but due to My Health Problems had to close it. Platinum Capital seemed like the answer to our prayers.

We started with them in September of 2000. Things at first were
fine and they did as they said they would do. Starting in January of 2001 thru March of 2001 we generated over $59,000.00 in revenues for them. As of March 23, they not only quit paying all of our Office Expenses, but also quit paying our incomes. At this point they owe us in excess of $15,000. in pay alone.

If anyone out there is solicted by them to open a branch for them stay clear. They are the Bad News Bears. They are still trying to solicit and open Branches Nationwide. Short of having to file a lawsuit, which we cannot afford we are out the money. We even contacted the Labor Board, but they informed us if it is over $2,500.00 we would have to file a Private Lawsuit. Why are we paying the people in the Labor Board? They are constantly juggling the books in their favor. I can substantiate all this by documentation.

Sincerely, Mary L. Spurbeck

This report was posted on Ripoff Report on 5/24/2001 12:00:00 AM and is a permanent record located here: http://www.ripoffreport.com/employers/platinum-capital-gro/platinum-capital-group-mortg-caw47.htm.

Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report.

Click Here to read other Ripoff Reports on Platinum Capital Group

Search for additional reports

If you would like to see more Rip-off Reports on this company/individual, search here:

Search Tips
Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?
Arbitrate
Remove Reports?
No! Better yet! Arbitrate to set the record straight!
REBUTTALS & REPLIES:
3Author 0Consumer 0Employee/Owner
Updates & Rebuttals

#1 Update By Author

Other Branches Report Sames Problems

AUTHOR: - ()

SUBMITTED: Friday, May 25, 2001

Employees Beware, as well as Buyers. This company likes to Rip
off Employees, and it will trickle down to customers.
Other Branches Report Same Problems

Employees Beware, as well as Buyers. When an employee with a
company has to take their working day to fight for their just pay and to get bills paid, What do you think it does to their work time. It gets passed on to customers. Time and service are the only 2 things that a Mortgage company have to offer the customer.

Well everyone judge for yourselves. So if your out their looking for a mortgage loan -??? What can I say

Or if your out there looking for a new Job???????
Respond to this report!
What's this?

#2

These complaining individuals could not meet those minimum criteria.

AUTHOR: - ()

SUBMITTED: Saturday, May 26, 2001

This email is a rebuttal to RipOff #5240.
It was sent by Peter Macdonald at Peter.Macdonald@Platinumcapital.com.

Platinum Capital Group - Mortgage Banker in Irvine California screwing employees (#5240)

They filed the following rebuttal to the above Rip-Off Report:

Their email: Peter.Macdonald@Platinumcapital.com
Their name: Peter Macdonald
Their phone number: (949) 221-0800
Their relationship to the company: Advocate

Rebuttal:

From: "Peter Macdonald"
Date: Fri, 25 May 2001 15:42:53 -0700

I would like to respond to a report but your web site does not seem to be accommodating my request. The report referred to is Platinum Capital Group submitted by Mary Spurbeck.

I am the attorney for the firm and my response is as follows.

Ms. Spurbeck's description of our ill-fated business relationship is not surprising, and very consistent with the non-performance of her branch tenure with Platinum Capital Group.

Platinum Capital Group maintains minimum standards for the operation of a branch. These criteria are based on professionalism, compliance and production. These complaining individuals could not meet those minimum criteria. The branch in question was provided several opportunities to comply with basic and minimum mortgage lending protocol, which they failed to do and resulted in the termination of the branch. This is further emphasized by her admission that they had a failed mortgage business prior to their relationship with Platinum Capital Group.

Platinum Capital Group maintains the highest level of scrutiny in the relationships we form and the operations we run. Unfortunately, periodically an individual, or several individuals, survive our scrutiny and ultimately fall below our required standards. That is the case in this matter.

Platinum Capital Group regrets ever entertaining these people as associates with our firm and has lost thousands of dollars because of it. Platinum Capital Group would like to recoup the money that the Spurbeck's owe to it, but due to the condition of the parties involved, we have little recourse. Beyond the operating and financial hardships we have endured in dealing with this branch, I am wary that they will continue to dupe other unsuspecting businesses into relationships that are equally disappointing.

Sincerely,

Peter Macdonald
General Counsel

Peter.Macdonald@platinumcapital.com
(949) 221-0800
Advocate
Respond to this report!
What's this?

#3

Our own company was closed down due to the fact I had Open-heart Surgery..

AUTHOR: - ()

SUBMITTED: Wednesday, May 30, 2001

From:
Date: Tue, 29 May 2001 12:59:06 -0700

This email is a rebuttal to RipOff #5240.
It was sent by Mary L. Spurbeck at Lilpup213@aol.com.

Platinum Capital Group - Mortgage Banker in Irvine California screwing employees *UPDATE *REBUTTAL (#5240)

They filed the following rebuttal to the above Rip-Off Report:

Their email: Lilpup213@aol.com
Their name: Mary L. Spurbeck
Their phone number: 520-744-1248
Their relationship to the company: Advocate

Rebuttal:
In regards to Mr. McDonald's Message, Our own company was closed down due to the fact I had Open-heart Surgery,followed by eye surgery. Due to my age of 60+ at that time, it took me a lot longer to recover then I anticipated. I was the strength of our company due to my 30 years in the business.It was my husband Duke & my Daughter's decision that we should close the company and seek employment with another company, mainly to take a whole lot of stress off of me. That is why we got hooked up with
Platinum Capital.

I was not hired as the Branch Manager - I was only a Loan Officer,and that only in hopes of me being able to start back to
work. I never did any loans while in their employ, due to my Health problems. In fact I was only coming into the office 1-2 days a week for a couple of hours. I have been recooperating the better part of 11/2 years.

If in fact My daughter Wendy McGee,who was the manager was so bad, after checking her references out and my husband L. R. Spurbeck, why were they Hired????? It is policy of the State of Az. Banking Dept/,FHA,& all regulatory agencies to check out people before Hiring. And if in fact they were bad why were they kept on for 7 + Months? Also Why were employee Discipline reports never done on either? I resigned my position after a brief Call I made to FHA-Hud questioning whether it was legal for a Lender to not pay employees??? After talking to FHA - They enlightened me about Platinum Capital Group and I at that point decided I no longer wished to be associated with the type of Organzation they operate. 3-4 days after they heard from FHA is when they terminated the branch in Tucson, Az, ALL WE WANT IS OUR PAY! BOTTOM LINE - PAY IS THAT UNFAIR?????????????????? - State of Calif thinks so - HOW ABOUT THE PUBLIC
Lilpup213@aol.com
Respond to this report!
What's this?

#4 Update By Author

PLATINUM CAPITAL - WILLING TO SETTLE - ???

AUTHOR: - ()

SUBMITTED: Wednesday, June 13, 2001

TRUE THEY NOT ONLY WROTE UP ONE SETTLEMENT AGREEMENT, BUT CAME
BACK WITH AN UPDATED - 2nd DRAFT, BEFORE THE FIRST ONE WAS EVEN READ. WHY IS IT THIS COMPANY DOESN'T UNDERSTAND. THEY SEEM TO THINK WE SHOULD BE WILLING TO COMPROMISE OUR ETHICS. THAT MAY BE THEIR WAY OF LIFE, BUT IT IS NOT OURS.

YEP YOUR READING RIGHT WE DID NOT ACCEPT THEIR AGREEMENT & BEING CRUDE THEY SLAMMED THE RECEIVER IN OUR EAR. SO WHATS' NEXT ? I'M NOT SURE - THEY JUST DON'T SEEM TO

GET IT.

ALL WE WANT - READ OUR LIPS IS THE LEGITIMATE MONEY
THEY OWE (MY HUSBAND DUKE- HIS PAY)( & MYSELF THE MONEY I HAD TO FORK OUT OF MY POCKET TO PAY BILLS THEY WOULDN'T) I ASK YOU IS THAT HARD TO UNDERSTAND - ANYONE INTERESTED IN THE AGREEMENT? JUST LET ME KNOW IT'S OPEN TO READ IF YOU LIKE

THANKS FOR LISTENING - MAKES YOU FEEL SO MUCH BETTER GETTING
IT OFF YOUR MIND. THANK GOD FOR THE PEOPLE AT RIPOFFREPORT

3 CHEERS FOR THEM - RAH - RAH - RAH
Respond to this report!
What's this?
Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?
Search for additional reports

If you would like to see more Rip-off Reports on this company/individual, search here:

Search Tips
Ripoff Report Verified Safe

Advertisers above have met our
strict standards for business conduct.

Ripoff Report Legal Directory