ED Magedson – Founder
Charles Petty, Visionary Property Group LLC8075 MALL PKWY SUITE 101 -106 Lithonia, Georgia United States of America
I entered into an arrangement with Charles Petty in Feb 2009 where I invested $25K to be used to finance residential propery repairs of investor houses. The interest rate was attractive, but not in the to good to be true category. It was at a time when the financial markets were locked up due to the AIG debacle.
This was basically a standard real estate investor transaction known in the trade as ' private investor funding ' that a lot of reputable people help investors grow their self directed IRA'S. Within 60 day of my investement I was to be advised by Charles Petty of the property that a second mortgage was to be attached as my investment security. This never happened.
The first interest payment was not made & they told me the check was in the mail. Their phones lines went dead & their e-mails were returned as undeliverable. I have had an attorney send Charles Petty two demand letters that have been ignored.
His mailing address is a fraud. Suite 101 is a UPS store with mailbox rentals. 102, 102 - 106 are other businesses.
I am also persuing other legal actions.
This report was posted on Ripoff Report on 08/30/2009 09:00 AM and is a permanent record located here: http://www.ripoffreport.com/r/Charles-Petty-Visionary-Property-Group-LLC/Lithonia-Georgia-30038/Charles-Petty-Visionary-Property-Group-LLC-KCP-financial-Group-LLC-CHARLES-PETTY-BIG-FRAU-487361. 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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