• Report: #728901

Complaint Review: Armand Franquelin

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  • Submitted: Fri, May 13, 2011
  • Updated: Sat, April 12, 2014

  • Reported By: Kathy — California United States of America
Armand Franquelin
928 E Chambers St, Suite 5 Ogden, Utah United States of America

Armand Franquelin Martin Pool Lost 25k in a self-direct with Elva Group Ogden, Utah

*Consumer Comment: SEC Lawsuit against James M Smith 's introduced investment

*REBUTTAL Owner of company: 25,000 ira

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After attending a James Smith Seminar he introduced Armand Franquelin who at the time owned Destiny Funding LLC in Ogden Utah.  Destiny Funding dealt with IRA, Self-Directs, etc.  After taking out my 401k from work 25k and transferring it to a self-direct with Destiny Funding.  Armand asked if I wanted to invest my money into THE ELVA GROUP, LLC who would give me 12% interest.  At the time it sounded like a good idea since my money was just sitting there.  The Elva Group was building homes in Utah at the time. Armand faxed me over a contract that showed the note amount and interest that would be accumulated after pay off.  That was in 2009 I been promised by him and his wife that I would get my money as soon as they get some money from some investments in the pipeline.  Promises after promises with deadlines move further and further and now with phones disconnected I have lost my money that I put aside and worked hard to one day put a down payment on a house.  Last time that I talked to Armand he was working together with Wealth Solutions Group LLC along with James Smith. Please do not invest any money with this group as you will never see it again.  If anyone else has dealt with Armand Franquelin or Wealth Solutions please let me know.  I hope to find some kind of solution that would put all this behind.    

This report was posted on Ripoff Report on 05/13/2011 10:23 AM and is a permanent record located here: http://www.ripoffreport.com/r/Armand-Franquelin/Ogden-Utah-84403/Armand-Franquelin-Martin-Pool-Lost-25k-in-a-self-direct-with-Elva-Group-Ogden-Utah-728901. 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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REBUTTALS & REPLIES:
0Author 1Consumer 1Employee/Owner
Updates & Rebuttals

#1 Consumer Comment

SEC Lawsuit against James M Smith 's introduced investment

AUTHOR: Sam - ()

SEC has filed a lawsuit against Armand Franquelin and Martin Pool introduced at Finsncidl Seminars by  James M Smith speaker and real estate investor
https://www.google.com/search?q=james+smith+armand+franquelin&ie=UTF-8&oe=UTF-8&hl=en&client=safari

Ponzi Scheme Took $12M through financial seminar presentations SEC Says:
http://www.courthousenews.com/2013/07/03/59056.htm

 

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#2 REBUTTAL Owner of company

25,000 ira

AUTHOR: armand - (United States of America)

to this may concern, I did not rip off you ira we l.ost of project in vernal ut please contact me for so we can get this worked out.
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