ED Magedson – Founder
Atlantic Capital Holdings Group110 E. Broward Blvd. Suite 610 Ft. Lauderdale, Florida United States of America
I received a call from Mr. Pearlman of Atlantic Capital Holdings Group in June of 2009. He claimed to be a broker with an investment opportunity with TEMN. He claimed that this stock had the opportunity to increase by x10 + by end of the year. I had my doubts but decided to try him out. He wanted me to invest $25,000. I told him I didn't have that much money, but he was persistent and wanted me to invest at least $2,500 to show what he can do. So I invested $2,500 that I had saved for my IRA. Needless to say TEMN sank like the Titanic. It devalued itself by 90% from the purchase date. But like a pathetic fool I am, I waited for the possibility of rebound.
My suspicions grew more and more when I didn't receive any statements or reports of my investments. In January of 2010, I called several times to get in touch with Mr. Pearlman. It took 2 weeks to even talk to him. His excuse was that he didn't know and will request Equity Trust to send another statement out. I didn't receive anything so I called back and talked to his co-worker, Mr. Anderson. I told him of the situation and asked him for the number to Equity Trust so I can retreive the information myself. Equity Trust did not have any information on me whatsoever. When I called back, the secretary (Barbara) told me that Mr. Anderson talked to Equity Trust and requested the statement and should receive it soon. Same story.
Last week I called the office. I got a nice friendly message. "The number you have called has temporarily been disconnected....." Today, "The toll free number you have called IS disconnected...." What a fool I was. I don't know how many people they scammed. I hope they get what they deserve. They probably won't use this name again, but beware. I remember Pearlman saying that they were changing their name to "Elite Global Trading". Rock Holdings come to mind also... Don't trust these guys at all.
This report was posted on Ripoff Report on 03/17/2010 02:22 PM and is a permanent record located here: http://www.ripoffreport.com/r/Atlantic-Capital-Holdings-Group/Ft-Lauderdale-Florida-33301/Atlantic-Capital-Holdings-Group-ponzi-scam-rip-off-Ft-Lauderdale-Florida-582161. 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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