• Report: #376372

Complaint Review: Aegean Capital Partners

  • Submitted: Fri, September 26, 2008
  • Updated: Mon, February 27, 2012

  • Reported By:San Francisco California
Aegean Capital Partners
1230 Columbia St Suite 1120 San Diego, California U.S.A.

Aegean Capital Partners Ted Stearns owner of Agean Capital Partners is a THIEF! SCAM ARTIST! and LIAR! San Diego California

*Consumer Comment: Ripped off by Brian C. Woody

*Consumer Comment: Update - Aegean Capital Partners

*REBUTTAL Individual responds: Reactor Core? You have no business participating in this posting, because you were not present and have no idea what you are talking about!

*Consumer Comment: Interesting...

*UPDATE EX-employee responds: Response To Ted Stearns and Aegean Capital Partners Lies!!!!!!!!!!!!

*UPDATE EX-employee responds: Response To Ted Stearns and Aegean Capital Partners Lies!!!!!!!!!!!!

*UPDATE EX-employee responds: Response To Ted Stearns and Aegean Capital Partners Lies!!!!!!!!!!!!

*UPDATE EX-employee responds: Response To Ted Stearns and Aegean Capital Partners Lies!!!!!!!!!!!!

*UPDATE Employee: This is in response to Angry Customers allegations- Brian Woody of UT Equity

*Author of original report: Ted Stearns New Address is 550 Front Street Apt.2103 San Diego CA, 92101

*Author of original report: I agree with this report, Ted Stearns is a liar and thief!

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Ted Stearns is a horrible person, and should be in prison for the rest of his life, that's if he is not already there! This man creates companies just to scam good honest hardworking American families out of their money. Not to mention all the struggling small business owners that he con's into buying his illegal products and services, and then leaves them high and dry to fend for themselves and deal with all the legal issues. I was taken by Ted Stearns a few months ago for $19,000.00 of my hard earned money, to help myself and my family keep my grandparents business a float after 43 years of serving our local community. I can't begin to tell you how heart broken myself and my wife were, and my poor parents now in their late sixty's having spent years of hard work to build and continue their parents dream. It has been agonizing to watch my mom cry day in and day out over the loss of our family business. Had we not been fooled by Ted Stearns and Aegean Capital Partners into believing that they could be trusted to help grow and protect our business. To everyone out there that would even consider working with or buying any services from this company, just consider what they did to my family, and most likely many others just like yours or mine. As a warning to every consumer out there, DO YOUR HOMEWORK FIRST! Learn from our mistake...

As a side note, I hired a San Diego based private detective firm to look into Aegean Capital Partners, and its owner Ted Stearns and was shocked by what they found. Aegean Capital Partners is registered and owned under an alias of Ted Stearns, and is currently involved in multiple civil suits just in California alone. As for Ted Stearns he is currently waiting to stand trial on multiple aggravated assault and battery charges, stemming from an incident involving his wife and young child. He also is still in the process of battling a federal tax evasion charge from two years ago. The list goes on and on, could you imagine a worse person to have to encounter then this, I sure can't. In hindsight had I done my research I would have never given Aegean Capital Partners a dime of my hard earned money. In the end I believe everyone gets what they deserve when they do wrong by others, so I am confident that Ted Stearns will get his!

Angry Customer
San Francisco, California
U.S.A.

This report was posted on Ripoff Report on 09/26/2008 06:10 PM and is a permanent record located here: http://www.ripoffreport.com/r/Aegean-Capital-Partners/San-Diego-California-92101/Aegean-Capital-Partners-Ted-Stearns-owner-of-Agean-Capital-Partners-is-a-THIEF-SCAM-ARTIS-376372. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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#1 Consumer Comment

Ripped off by Brian C. Woody

AUTHOR: Notary - (United States of America)

Brian Woody:

This is a case of the pot calling the kettle black.  Stearns didnt rip me off; but, you did.  You wouldnt pay a simple $50 notary fee that was advanced on your behalf.

You had no compunction using the good name of your friends and associates to entice me to provide services for you with the Secretary of State for U T Equity Group, LLC and Symbolic Capital Partners and stiffed me for the filing fees.

You should contact your good buddy, JJ, and figure out how to pay the measly $50 fee I advanced to you, you big, corporate giant, you.

Your friendly notary public.



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#2 Consumer Comment

Update - Aegean Capital Partners

AUTHOR: D. George - (USA)

There are several companies in California called Aegean Capital - all Corporations, LLCs and LP's with the name Aegean are not associated (by my research) with Ted Stearns.

Of the companies using the name "Aegean Capital" in California and are listed as an "'active" company, I could not find any negative blogs, complaints, etc.

Ted (Theordore) Stearns owns - ATTICUS CAPITAL MANGEMENT which is a corporation Secretary of State number C3071165. ATTICUS CAPITAL MANGEMENT filed a dba with San Diego County (http://arcc.co.san-diego.ca.us) to use the name AEGEAN CAPITAL PARTNERS (filing number 2008-009573).

For infromation regarding Ted Stearns, view Ted at: http://www.linkedin.com/in/tedstearns

There are several companies in California called Aegean Capital - all Corporations, LLCs and LP's with the name Aegean are not associated (by my research) with Ted Stearns.

Of the companies using the name "Aegean Capital" in California and are listed as an "'active" company, I could not find any negative blogs, complaints, etc.

Ted (Theordore) Stearns owns - ATTICUS CAPITAL MANGEMENT which is a corporation Secretary of State number C3071165. ATTICUS CAPITAL MANGEMENT filed a dba with San Diego County (http://arcc.co.san-diego.ca.us) to use the name AEGEAN CAPITAL PARTNERS (filing number 2008-009573).

For infromation regarding Ted Stearns, view Ted at: http://www.linkedin.com/in/tedstearns

There are several companies in California called Aegean Capital - all Corporations, LLCs and LP's with the name Aegean are not associated (by my research) with Ted Stearns.

Of the companies using the name "Aegean Capital" in California and are listed as an "'active" company, I could not find any negative blogs, complaints, etc.

Ted (Theordore) Stearns owns - ATTICUS CAPITAL MANGEMENT which is a corporation Secretary of State number C3071165. ATTICUS CAPITAL MANGEMENT filed a dba with San Diego County (http://arcc.co.san-diego.ca.us) to use the name AEGEAN CAPITAL PARTNERS (filing number 2008-009573).

For infromation regarding Ted Stearns, view Ted at: http://www.linkedin.com/in/tedstearns

There are several companies in California called Aegean Capital listed in California's Business Portal (California Secretary of State). Of all the Corporations, LLCs and LP's listed with the state, none of them are associated (by my research) with Ted Stearns.


Of the "Active" companies listed with the California Secretary of State, I was unable to find any negative blogs, complaints, etc. for any company using the name "Aegean Capital".

With regards to Ted (Theodore) Stearns, Ted owns - ATTICUS CAPITAL MANGEMENT which is a corporation listed under the California Secretary of State number C3071165. ATTICUS CAPITAL MANGEMENT filed a dba with San Diego County (http://arcc.co.san-diego.ca.us) to use the name AEGEAN CAPITAL PARTNERS (filing number 2008-009573).


For current information regarding Ted Stearns, view Ted at: http://www.linkedin.com/in/tedstearns
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#3 REBUTTAL Individual responds

Reactor Core? You have no business participating in this posting, because you were not present and have no idea what you are talking about!

AUTHOR: B Woody - (U.S.A.)

You have no business being involved in this posting; you have no knowledge of what took place in San Diego. You just wasted a bunch of letters and words on a mindless rambling attempting to force your opinion into a place in which it has no use or purpose. You would be best to find another place to discard your pretentious opinion.
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#4 Consumer Comment

Interesting...

AUTHOR: ReactorCore - (Canada)

Well, we have two "sides" to a story here, if you can call them sides... thing is, neither are backed up by any real, hard facts as such....

However, I have to wonder, at first blush, who looks the worse for wear here?

ACP is the winner there. Hands down, and here's why...

IF, the entity known as ACP was as reputable as claimed, and IF that entity wished to reassure clientele and Ripoff readers alike that it was on the up and up, then it (I use "it" because a company is a company, regardless of an individual posting and maintains a relatively neutral POV) should be compelled to take certain steps to ensure this.

IANAL, but in my mind these steps should include (but not be limited to) the following:

1) First and foremost, if ACP wants to debunk the accusations above, HARD, CLEAR AND IRREFUTABLE EVIDENCE needs to be provided to the public at large and the Ripoff readership. This comes in the form of such things as testimonials (handwritten, scanned and webbed preferred) with a number of the people providing them willing to be personally contacted to verify the authenticity of their testimonial. It should be relatively easy to determine if these people providing their good word for ACP are in any manner of collusion or are engaged in dishonesty on behalf of ACP if their identities are valid and ACP maintains some manner of financial transparency. However, ACP's post has absolutely NO such pointers. Not even to a website maintained by the business entity itself.

Hypothetically, if I were in the shoes of ACP, I'd be falling all over myself to prove beyond the shadow if a reasonable doubt that what my accuser was posting about me was nothing but piffle and poppycock. Speaking of....

2) ACP maintains, or at least infers, that the allegations of assault and/or battery are are false and/or fabricated. So... litigate. If someone is injuring your "image" in print, that's libel and is actionable under the law. *Surely* a truly successful business should have no problem proceeding with a legal action? It's part of the "American Way,", right? At the very least, a cease and desist to protect their "good name" wouldn't be out of the question? Funny.... the accuser's post is still here, no mention of a legal motion in ACP's post... Hmmm.

Finally, there's the rebuttal post of ACP itself in general. As well as what I've mentioned above, the entire tone of it smells. It hasn't one lick of the hallmarks of someone who wants to have themselves perceived as a "respectable" businessperson who wants to be taken seriously, nor does it have an air of "respectability" that one would expect from a "big shot" enterprise...

Instead, it reads very much like the epitome of the shcoolyard bully who, when caught, sports a surly look, glares at his battered and bloodied victim and utters something along the line of; "He started it". Or, worse yet; "Well.. he was askin' for it".

Again, there's *always* the possibility that the OP is someone who has one Hell of an axe to grind with ACP, however, the reactions, demeanor and overall attitude of the ACP response doesn't make that seem very likely to the reader who stumbles on this little altercation.
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#5 UPDATE EX-employee responds

Response To Ted Stearns and Aegean Capital Partners Lies!!!!!!!!!!!!

AUTHOR: B Woody - (U.S.A.)

It was recently brought to my attention by one of my former colleges, that my name was being slandered by Mr. Ted Stearns on behalf of Aegean Capital Partners. I take a great deal of offense to these completely untrue and utterly ridiculous allegations made by Mr. Ted Stearns. I have never participated nor engaged in any sort of postings such as the ones located on this site, or for that matter any others like it. To completely clear the record in regards to these postings involving my name or anything involving me whatsoever, I will briefly explain my experience involving Mr. Ted Stearns and our business dealings. I was sub-contracted (not hired as an employee) by Mr. Stearns Company (Trade Line Wholesalers) in December of 2007 (not Aegean Capital Partners.) I provided Mr. Ted Stearns with the best of my ability and intellect to aid in growing what seemed to be a legitimate up and coming company within the personal consumer credit industry. After investing many long hours and numerous resources over a period of about two months, I began to become more privy to very sensitive internal information of Trade Line Solutions, which Mr. Ted Stearns kept in the highest of confidentiality throughout my term at TLS. Upon discovering certain information Mr. Ted Stearns overall company plan began to become more and more apparent to me, his vendors were no longer able to supply him with the necessary credit lines to fulfill his promises to his customers. Therefore Mr. Ted Stearns decided to extend his performance contract to a longer term so that after the initial 45 days, and no product delivered to the customer, he could hide behind his extended contract stating that he still had four more months to provide the product purchased, all the while knowing full well that there was no product left to provide. After seeing these deceitful practices in action, I approached two of my fellow contractors to discuss the option of leaving Trade Line Solutions as soon as possible, and contacting all former, current, and future prospective clients, to notify them of the illegal and deceptive practices taking place at Trade Line Solutions based upon the leadership and direction of Mr. Ted Stearns. Shortly after both of those contractors agreed that they also wanted no part in Mr. Ted Stearns shady business practices, at which point the three of us left and began to immediately contact as many of the clients as possible along with the Federal Trade Commission, and the California States Attorney to prevent any further losses, and to also help previous clients attempt to gain refunds. Upon leaving in February 2008 we learned that Mr. Ted Stearns had hired on a completely new staff with no previous knowledge of the initial scam, and began to tremendously increase advertising for his mythical product to gain hundreds of new customers, knowing full well that there was again no product to be sold. Be aware that in the short two months that I was with Trade Line Solutions I personally realized Mr. Ted Stearns taking in an average of $2000 to $4000 per client, and at least 15- 30 clients per day. That adds up to a lot of money, and a lot of helpless unaware good people losing there hard earned money. Now I will let anyone reading this draw their own conclusion to these factual events, but I know what my opinion was, I left and left quickly upon finding out the true Ted Stearns and his manipulative business practices. I know that Mr. Ted Stearns currently operates Aegean Capital Partners, and imerchantadvance.com, along with a few other small ventures in San Diego California. I hope that this information will help any future potential clients of Mr. Ted Stearns or any of his companies.
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#6 UPDATE EX-employee responds

Response To Ted Stearns and Aegean Capital Partners Lies!!!!!!!!!!!!

AUTHOR: B Woody - (U.S.A.)

It was recently brought to my attention by one of my former colleges, that my name was being slandered by Mr. Ted Stearns on behalf of Aegean Capital Partners. I take a great deal of offense to these completely untrue and utterly ridiculous allegations made by Mr. Ted Stearns. I have never participated nor engaged in any sort of postings such as the ones located on this site, or for that matter any others like it. To completely clear the record in regards to these postings involving my name or anything involving me whatsoever, I will briefly explain my experience involving Mr. Ted Stearns and our business dealings. I was sub-contracted (not hired as an employee) by Mr. Stearns Company (Trade Line Wholesalers) in December of 2007 (not Aegean Capital Partners.) I provided Mr. Ted Stearns with the best of my ability and intellect to aid in growing what seemed to be a legitimate up and coming company within the personal consumer credit industry. After investing many long hours and numerous resources over a period of about two months, I began to become more privy to very sensitive internal information of Trade Line Solutions, which Mr. Ted Stearns kept in the highest of confidentiality throughout my term at TLS. Upon discovering certain information Mr. Ted Stearns overall company plan began to become more and more apparent to me, his vendors were no longer able to supply him with the necessary credit lines to fulfill his promises to his customers. Therefore Mr. Ted Stearns decided to extend his performance contract to a longer term so that after the initial 45 days, and no product delivered to the customer, he could hide behind his extended contract stating that he still had four more months to provide the product purchased, all the while knowing full well that there was no product left to provide. After seeing these deceitful practices in action, I approached two of my fellow contractors to discuss the option of leaving Trade Line Solutions as soon as possible, and contacting all former, current, and future prospective clients, to notify them of the illegal and deceptive practices taking place at Trade Line Solutions based upon the leadership and direction of Mr. Ted Stearns. Shortly after both of those contractors agreed that they also wanted no part in Mr. Ted Stearns shady business practices, at which point the three of us left and began to immediately contact as many of the clients as possible along with the Federal Trade Commission, and the California States Attorney to prevent any further losses, and to also help previous clients attempt to gain refunds. Upon leaving in February 2008 we learned that Mr. Ted Stearns had hired on a completely new staff with no previous knowledge of the initial scam, and began to tremendously increase advertising for his mythical product to gain hundreds of new customers, knowing full well that there was again no product to be sold. Be aware that in the short two months that I was with Trade Line Solutions I personally realized Mr. Ted Stearns taking in an average of $2000 to $4000 per client, and at least 15- 30 clients per day. That adds up to a lot of money, and a lot of helpless unaware good people losing there hard earned money. Now I will let anyone reading this draw their own conclusion to these factual events, but I know what my opinion was, I left and left quickly upon finding out the true Ted Stearns and his manipulative business practices. I know that Mr. Ted Stearns currently operates Aegean Capital Partners, and imerchantadvance.com, along with a few other small ventures in San Diego California. I hope that this information will help any future potential clients of Mr. Ted Stearns or any of his companies.
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#7 UPDATE EX-employee responds

Response To Ted Stearns and Aegean Capital Partners Lies!!!!!!!!!!!!

AUTHOR: B Woody - (U.S.A.)

It was recently brought to my attention by one of my former colleges, that my name was being slandered by Mr. Ted Stearns on behalf of Aegean Capital Partners. I take a great deal of offense to these completely untrue and utterly ridiculous allegations made by Mr. Ted Stearns. I have never participated nor engaged in any sort of postings such as the ones located on this site, or for that matter any others like it. To completely clear the record in regards to these postings involving my name or anything involving me whatsoever, I will briefly explain my experience involving Mr. Ted Stearns and our business dealings. I was sub-contracted (not hired as an employee) by Mr. Stearns Company (Trade Line Wholesalers) in December of 2007 (not Aegean Capital Partners.) I provided Mr. Ted Stearns with the best of my ability and intellect to aid in growing what seemed to be a legitimate up and coming company within the personal consumer credit industry. After investing many long hours and numerous resources over a period of about two months, I began to become more privy to very sensitive internal information of Trade Line Solutions, which Mr. Ted Stearns kept in the highest of confidentiality throughout my term at TLS. Upon discovering certain information Mr. Ted Stearns overall company plan began to become more and more apparent to me, his vendors were no longer able to supply him with the necessary credit lines to fulfill his promises to his customers. Therefore Mr. Ted Stearns decided to extend his performance contract to a longer term so that after the initial 45 days, and no product delivered to the customer, he could hide behind his extended contract stating that he still had four more months to provide the product purchased, all the while knowing full well that there was no product left to provide. After seeing these deceitful practices in action, I approached two of my fellow contractors to discuss the option of leaving Trade Line Solutions as soon as possible, and contacting all former, current, and future prospective clients, to notify them of the illegal and deceptive practices taking place at Trade Line Solutions based upon the leadership and direction of Mr. Ted Stearns. Shortly after both of those contractors agreed that they also wanted no part in Mr. Ted Stearns shady business practices, at which point the three of us left and began to immediately contact as many of the clients as possible along with the Federal Trade Commission, and the California States Attorney to prevent any further losses, and to also help previous clients attempt to gain refunds. Upon leaving in February 2008 we learned that Mr. Ted Stearns had hired on a completely new staff with no previous knowledge of the initial scam, and began to tremendously increase advertising for his mythical product to gain hundreds of new customers, knowing full well that there was again no product to be sold. Be aware that in the short two months that I was with Trade Line Solutions I personally realized Mr. Ted Stearns taking in an average of $2000 to $4000 per client, and at least 15- 30 clients per day. That adds up to a lot of money, and a lot of helpless unaware good people losing there hard earned money. Now I will let anyone reading this draw their own conclusion to these factual events, but I know what my opinion was, I left and left quickly upon finding out the true Ted Stearns and his manipulative business practices. I know that Mr. Ted Stearns currently operates Aegean Capital Partners, and imerchantadvance.com, along with a few other small ventures in San Diego California. I hope that this information will help any future potential clients of Mr. Ted Stearns or any of his companies.
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#8 UPDATE EX-employee responds

Response To Ted Stearns and Aegean Capital Partners Lies!!!!!!!!!!!!

AUTHOR: B Woody - (U.S.A.)

It was recently brought to my attention by one of my former colleges, that my name was being slandered by Mr. Ted Stearns on behalf of Aegean Capital Partners. I take a great deal of offense to these completely untrue and utterly ridiculous allegations made by Mr. Ted Stearns. I have never participated nor engaged in any sort of postings such as the ones located on this site, or for that matter any others like it. To completely clear the record in regards to these postings involving my name or anything involving me whatsoever, I will briefly explain my experience involving Mr. Ted Stearns and our business dealings. I was sub-contracted (not hired as an employee) by Mr. Stearns Company (Trade Line Wholesalers) in December of 2007 (not Aegean Capital Partners.) I provided Mr. Ted Stearns with the best of my ability and intellect to aid in growing what seemed to be a legitimate up and coming company within the personal consumer credit industry. After investing many long hours and numerous resources over a period of about two months, I began to become more privy to very sensitive internal information of Trade Line Solutions, which Mr. Ted Stearns kept in the highest of confidentiality throughout my term at TLS. Upon discovering certain information Mr. Ted Stearns overall company plan began to become more and more apparent to me, his vendors were no longer able to supply him with the necessary credit lines to fulfill his promises to his customers. Therefore Mr. Ted Stearns decided to extend his performance contract to a longer term so that after the initial 45 days, and no product delivered to the customer, he could hide behind his extended contract stating that he still had four more months to provide the product purchased, all the while knowing full well that there was no product left to provide. After seeing these deceitful practices in action, I approached two of my fellow contractors to discuss the option of leaving Trade Line Solutions as soon as possible, and contacting all former, current, and future prospective clients, to notify them of the illegal and deceptive practices taking place at Trade Line Solutions based upon the leadership and direction of Mr. Ted Stearns. Shortly after both of those contractors agreed that they also wanted no part in Mr. Ted Stearns shady business practices, at which point the three of us left and began to immediately contact as many of the clients as possible along with the Federal Trade Commission, and the California States Attorney to prevent any further losses, and to also help previous clients attempt to gain refunds. Upon leaving in February 2008 we learned that Mr. Ted Stearns had hired on a completely new staff with no previous knowledge of the initial scam, and began to tremendously increase advertising for his mythical product to gain hundreds of new customers, knowing full well that there was again no product to be sold. Be aware that in the short two months that I was with Trade Line Solutions I personally realized Mr. Ted Stearns taking in an average of $2000 to $4000 per client, and at least 15- 30 clients per day. That adds up to a lot of money, and a lot of helpless unaware good people losing there hard earned money. Now I will let anyone reading this draw their own conclusion to these factual events, but I know what my opinion was, I left and left quickly upon finding out the true Ted Stearns and his manipulative business practices. I know that Mr. Ted Stearns currently operates Aegean Capital Partners, and imerchantadvance.com, along with a few other small ventures in San Diego California. I hope that this information will help any future potential clients of Mr. Ted Stearns or any of his companies.
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#9 UPDATE Employee

This is in response to Angry Customers allegations- Brian Woody of UT Equity

AUTHOR: Aegean Capital Partners - (U.S.A.)

This is in response to Angry Customers allegations-

Aegean Capital Partners is a firm dedicated to helping entrepreneurs secure the financing they need to grow their business and achieve success both on a personal level and professional. Given the lack of creditability this post has, we feel it necessary to address but find baseless and ridiculous to the point of offensive.

Angry Customer presumably is Brian Woody of Universal Trust Financial. He was an employee of Aegean Capital Partners until he chose to start a competing firm in the same industry. Since Brian Woody cannot substantiate any of his claims, i.e., private detective, multiple civil suits, battery and such we find this post ridiculous and ask that Brian find better things to do with his time and leave examples of is immaturity for everyone to see.

Aegean Capital Partners
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#10 Author of original report

Ted Stearns New Address is 550 Front Street Apt.2103 San Diego CA, 92101

AUTHOR: Anonymous - (U.S.A.)

Ted we found your new place! very nice building hope your enjoying it knowing that all the customers that you riped off are paying for it. We are a small group of victims that you Riped Off many months ago at Trade Line Solutions and we want our money back, stop running and just give us back what you stole from us and we can go away. As for your new company Aegean Capital Partners, it looks like your up to your same old tricks, It would be in your best interest to stop lying and stealing from others it bad Karma.
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#11 Author of original report

I agree with this report, Ted Stearns is a liar and thief!

AUTHOR: Anonymous - (U.S.A.)

I completly agree with this report, Ted Stearns formerly of Trade Line Solutions, and now owner of Aegean Capital Partners is a peice of %#!@. I worked as a subcontractor for Trade Line Solutions and Ted for less than a month when his company started to fail due to the fact that he had been ripping off customers for the past six months prior. When I decided to leave and determined that I wanted nothing to do with the scam he was running, Ted lied to multiple state and local organizations claming that I stole information and customers from him. I never made a dollar, or spoke with one single client from his company, infact I was bringing him customers up untill I found out that he was a scam artist. This guy should be arrested dont trust him at all, I know for a fact that he has alot of people looking for him, and that he owes thousands of dollars to most of them. He has moved offices at least four times in the last year, and changed his phone numbers more times than I can count. If he takes a dime from you, you have no one else to blame but yourself. For the guy who wrote this complaint I feel really bad for him and his family, and only wish that more websites like this one were around so that everyone could be warned before this type of thing happens.
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