ED Magedson – Founder
Bancport corp110 Washington Ave. 3rd Floor North Haven, Connecticut USA
Bancport corp Bancport corp - upfront fee scammers North Haven Connecticut
Bancport corp is running some kind of suspicious operation collecting fees with a fake letter of interest.
We were contacted by Dennis Carr, who presents himself as an employee for Bancport, with a fake letter of interest that required quick action and an underwriting fee of $5,000. The deal looked and smelled suspicious. We questioned Dennis on the deal and the investor behind it. He guaranteed us in writing that the letter of interest came from an investment group and the $5k will be sufficient to cover the closing expenses.
We were reluctant but gave them the benefit of doubt because they put a clause for cancellation and full refund. We paid the $5k and within days got an email that was forwarded from a company called Kilpatrick and Hart requesting up to $18,000 upfront to help with funding. After a quick due diligence, we found Kilpatrick and Hart to be a fraudulent upfront fee scammers. We contacted Dennis and he promised to clear the confusion and we didn’t have to pay anymore fees to get the funding, but Tom Hart, from Kilpatrick and Hart, kept sending emails requesting upfront fees and wanted to set up a meeting to pitch us.
We told Dennis to provide a credible and legit source of funding that has nothing to do with any upfront. He then said he had another contact to make the introduction but wanted to meet personally first to discuss our plans. I took the meeting with him, and to my surprise he had 2 other people with him. The meeting ended up being nothing more than a sales pitch for $10,000 upfront from a shady guy who calls himself Michael Cherry. Michael tried to use some investing lingo to gain confidence, but he didn’t know what he was talking about. Michael also went as far as getting on a fake call that he claimed was from a Russian billionaire that was looking for investment opportunities and mine would be perfect.
After the meeting I asked Dennis to provide the source of the letter of interest. He then told me the letter came from his company. Asked why, he said that’s how he engages clients. If he sees a deal he likes, he send out a letter to reflect what type of funding he can get. We imidiately asked for our money back but he wanted more time to get a legit source, so we gave him an ultimatum of 30 days.
After the 30 day he starting coming up with reasons why the deal is slow and how he confident and will secure the funding from his so-called 300 sources.
Emails and calls from Dennis have now seized.
What Dennis and Bancport corp are running is illegal per the SEC because you can’t collect a fee to go out and seek funding. We have taken steps to report him and his company to both the SEC and the FBI. Hopefully they will put an end to these scammers and put these criminals in jail.
Be warned, stay away from these creeps.
This report was posted on Ripoff Report on 06/10/2013 07:16 AM and is a permanent record located here: http://www.ripoffreport.com/r/Bancport-corp/-North-Haven-Connecticut/Bancport-corp-Bancport-corp-upfront-fee-scammers-North-Haven-Connecticut-1057838. 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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