• Report: #1161544

Complaint Review: Asset Ventures LLC

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  • Submitted: Sat, July 12, 2014
  • Updated: Sat, July 12, 2014

  • Reported By: Pat G. — Granada Hills California
Asset Ventures LLC
2625 Manhattan Beach Blvd #100 Redondo Beach, California USA

Asset Ventures LLC, Anthony (Tony) Martinez The word is getting out - Tony Martinez does not pay back your investment and he lies!!! Redondo Beach California

*Consumer Comment: Complaint

*Author of original report: Asset Ventures LLC, Anthony (Tony) Martinez The word is getting out - Tony Martinez does not pay back your investment and he lies!!! Redondo Beach California

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In June 2013, I wrote a complaint about Asset Ventures and Tony Martinez. To summarize, I purchased 2 real estate notes from Tony Martinez and only after approx 11 emails, 4 phone calls and a myriad of promises from Tony to pay, the note was finally paid several months late.  

Regarding the 2nd note which was due  APRIL 30, 2013, to date Tony has only re-paid a portion of the investment and no interest has been paid.  However, I have over a year's worth of emails from Tony in which he stated that the investment was safe, that I would receive the balance of the amount due that week or that month or that a check was sent (although it hadn't). 

Last year, I notified several sponsors of Tony's speaking engagements that Tony was obtaining money from investors (thru their sponsored events) but that he was not paying those he owed.

Tony then had someone from a law office contact me and suggest that I allow Tony to work out a payment plan-which I did.  Tony then provided a written payment plan, made 2 or 3 payments, the payments ceased and I havent received a payment since October 2013.  

In reponse to one of my many requests for payment over the last year, Tony advised in a May 1, 2014, email that "Sorry, you are my priority" and in a June 9, 2014 email Tony wrote that "I will be making a payment to you this week.  I'll actually have a final payment plan to get this complete over the next 60 days."  Of course, I've received nothing.

So, now that I see other "Ripoff Reports" addressing the same issues and the same behaviour by Asset Ventures and Tony Martinex (i.e., non-payment of notes and a series of untrue statements when questioned about payment), I knew it was time to write an additional "Ripoff Report".

We need to get the word out there, thru Ripoff Reports and other media -- Buyer Beware.

Regardless of any marketing presentation that Tony may provide - as stated in another Ripoff Report, Asset Ventures/Tony Martinez does not pay back loans, does not pay the interest on the loans and repeatedly lies.


This report was posted on Ripoff Report on 07/12/2014 12:15 PM and is a permanent record located here: http://www.ripoffreport.com/r/Asset-Ventures-LLC/Redondo-Beach-California-90278/Asset-Ventures-LLC-Anthony-Tony-Martinez-The-word-is-getting-out-Tony-Martinez-does-1161544. 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:
1Author 1Consumer 0Employee/Owner
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#1 Consumer Comment

Complaint

AUTHOR: MMM - ()

You may consider filing a complaint with the California Bureau of Real Estate.  www.calbre.ca.gov

1651 Exposition Blvd., Sacramento, CA 95815 

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#2 Author of original report

Asset Ventures LLC, Anthony (Tony) Martinez The word is getting out - Tony Martinez does not pay back your investment and he lies!!! Redondo Beach California

AUTHOR: Pat G. - ()

Update:  Through a forum on a real estate investor website (BiggerPockets.com), I learned that 2 additional investors (another one in Texas and one on the east coast) have had the same experience with Tony Martinez as I have.  (This is in addition to the 2 investors who filed RipOff reports).  Specifically, Asset Ventures/Tony Martinez does not pay back loans, does not pay the interest due on the loans and, when questioned about when payments will be made, he does not tell the truth (i.e., he repeatedly lies).  I posted on the Bigger Pockets (BP) forum asking for suggestions on how to get Tony Martinez to pay notes that are past due.

If you have had the same or similar experience with Asset Ventures/Tony Martinez, you may want to add a post to the BP forum.  To find my post on BP, search for "Asset Ventures/Tony Martinez". We need to get the word out there.

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