• Report: #582161

Complaint Review: Atlantic Capital Holdings Group

  • Submitted: Wed, March 17, 2010
  • Updated: Tue, June 15, 2010

  • Reported By: joseph c — new orleans Louisiana United States of America
Atlantic Capital Holdings Group
110 E. Broward Blvd. Suite 610 Ft. Lauderdale, Florida United States of America

Atlantic Capital Holdings Group ponzi, scam, rip-off Ft. Lauderdale, Florida

*UPDATE EX-employee responds: Small scale ponzi scheme

*Author of original report: new name: Northern Rock

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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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Updates & Rebuttals

#1 UPDATE EX-employee responds

Small scale ponzi scheme

AUTHOR: antiscam - (United States of America)

Here is some info you may want to read. All these companies are linked with the same guys behind the scene. its a big scam with everyone suffering, except for the guys behind it. good luck


http://www.ripoffreport.com/financial-services/elite-global-trading/elite-global-trading-fred-smil-76c47.htm
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#2 Author of original report

new name: Northern Rock

AUTHOR: joseph c - (United States of America)

I found another number and got in touch with them.  Thet are now going by "NORTHERN ROCK".  NO ONE was in the office but the secretary.  My broker was out sick today.  Then I asked her why the other number was disconnected and she said the two companies merged so didn't need the other number.  Then someone should notified their clients (if that's what they consider us) or leave a forwarding message on the disconnected number.  This looks like that they are trying to hide.  I won't be suprised if this number disappears too.  Just in case, here is the number  1-888-312-0199.
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