Corporate Acquisitions Group Possible scam, misleading and unethical sales practices Englewood Colorado

Ty Tymkovich and Sam Levine have been sued by the Colorado Attorney General's office for "fraudulent appraisal scheme". Denver Post Article here: http://www.denverpost.com/ci_14029427

Full article:

"

A pair of Colorado businessmen are accused of persuading more than 700 businesses in this and other states to pay thousands of dollars for unnecessary net-worth appraisals, Colorado Attorney General John Suthers' office said Friday.

Businessmen Tyrone Tymkovich of Aurora and Sam Levine of Castle Rock and their businesses, Corporate Acquisition Group and Global Acquisitions Group were named in a lawsuit filed in Arapahoe County that accuses them of convincing small-business owners that potential buyers were ready to acquire their firms and needed an appraisal.

Of the $5,000 the men charged for their service, just $1,000 of the fee was actually devoted to the appraisal. They also are accused of overstating their business success in order to lure clients and of giving money-back guarantees they didn't always honor.

Suthers is seeking restitution for victimized businesses and an injunction against future fraud."

Read more: http://www.denverpost.com/ci_14029427#ixzz0b5UufpQ7

Corporate Acquisitions Group, LLC. resigned their BBB Accreditation on June 5, 2009, and are in the process of reanimating their business valuation scam company under the new 'Global Acquisitions" moniker.

Based on BBB files, Corporate Acquisitions/Global Acquisitions Group has a BBB rating of "F".

Reasons for this rating include:

* Failure to obtain required competency license.
* Failure to honor commitment to arbitrate or mediate disputes.
* Complaints filed against business that were not resolved.
* Government legal action(s) against business.

On May 28, 2009 Tyrone E. Tymkovich, President of Corporate Acquisitions/Global Acquisitions LLC., entered into a Stipulation & Final Agency Order in the matter of disciplinary action against his real estate broker's license (er 40029518) with the State of Colorado Real Estate Commission. The order settles charges that Tyrone Tymkovich made violations of the real estate licensing law. Under the terms of the order Tyrone Tymkovich agrees to a fine of $5,500.00 and a permanent revocation of his real estate license. Tyrone Tymkovich admitted to the allegations, factual findings and conclusions of law in the investigative report dated April 27, 2009.

Tyrone E. Tymkovich has plead guilty to theft, a class 2 misdemeanor, and forgery of a check, a class 5 felony. On March 13, 2009, Tyrone E Tymkovich also plead guilty to disturbing the peace, and to threats to person/property. Tyrone E. Tymkovich has repeatedly failed to notify the Colorado board of Real Estate of his criminal convictions, as stipulated by law.

The findings of the State of Colorado can be found here:

http://eservices.psiexams.com/servlet/documentcontentdisplay?documentId=20483&complaintId=0&accountId=197&stipulationId=767&isStipulationDocument=true

and here:

http://docs.google.com/gview?a=v&q=cache:HMgMVPuuN5QJ:www.dora.state.co.us/real-estate/meetings/minutes/broker/CREC_May_2009.pdf+tyrone+tymkovich&hl=en&gl=us

Tyrone E. Tymkovich worked with Marvin R. "Randy" Hicks at Alliance Acquisitions Associates, another business valuation scam company.

Marvin Randolph Hicks: One count of conspiracy to commit wire fraud, six counts of wire fraud via telephone calls and one count of conspiracy to commit money laundering.

According to the indictment:

PBS offered clients a 100 percent money back guarantee that it would find qualified buyers for their businesses. When clients tried to claim the refund, PBS denied their claims.
Sellers were required to pay a designated fee to PBS for acting as an intermediary with buyers, a designated sum for hiring an independent firm to prepare a valuation of the business that was being sold, and a fee for successfully matching a seller and a buyer, which would be due two days after the sale.
PBS received very little money from completed buy/sale transactions. More than 98 percent of the money PBS received from clients was for independent third party business valuations.
In order to deny the guaranteed refunds, PBS provided clients with sham matches. The buyers PBS claimed were qualified in fact had no interest in purchasing the clients' businesses.
In order to deny the guaranteed refund, PBS provided clients with references identifying individuals who were represented as business owners who had sold their businesses through the efforts of PBS. In fact, these references were the owners of PBS or PBS analysts and had never owned a business sold by PBS.

From the State of Kansas department of Justice:

http://www.usdoj.gov/usao/ks/press/May2008/May22a.html

http://www.usdoj.gov/usao/ks/press/Sept07/09_20.html

Sam Levine, the CEO for Corporate Acquisitions Group LLC., has a history of perpetrating fake grant writing schemes with "American Public Grant Consultants", as well as his work with Corporate Acquisitions/Global Acquisitions.

Tyrone E. Tymkovich, CEO of Corporate Acquisitions Group LLC, has had his real estate license permanently revoked in the state of Colorado as of April 27th, 2009, because of outstanding violations, and he has a list of outstanding fines to the State.

You can find a PDF of the stipulated agreement here on the Colorado Division of Real Estate website:

http://www.dora.state.co.us/real-estate/real_estate/disciplinary_action2009.htm

don't think you'll get your money back. The contract does not say they will bring in a buyer with a serious bid (even though this is what their business analyst led me to believe). It only says they'll bring in people who may be interested in learning more about buying your company. Once they do that, they have fulfilled their end of the contract.

I'm only reporting what happened to me. Now maybe their president will stop personally sending me rude emails.

As an update to this, Corporate Acquisitions and Quyen Tran asked the Better Business Bureau to investigate this complaint. They contacted the person noted above, did an interview and wrote the following response:

Complaint Case #: 75046622
Consumer: Quyen Tran

Your BBB has received correspondence from a consumer. This case is NOT being treated as a complaint, but we wanted to inform you of this communication. A reference will not be made to your file as no consumer wrongdoing has occurred. You are welcome to respond further if you would like it to be added to the file. Complaint Case # 75046622 is closed as non-valid complaint. It appears the individual who filed the complaint did not like the process which was employed by your company. Upon our review, and our advice to all transactions, put it in writing. It appears your paperwork does spell out truthful and clear expectations of what your company will or will not provide.

Yes, my name is Quyen Tran, and what have written above is 100% true.

During my meeting with CAG's "analyst" (who was trying to sell me CAG's services - sounds like a "salesperson" to me), I asked, "So if my business doesn't sell within 1 year, I get my $8000 back?" Their "analyst" assured me this was the case. Looking at their contract and subsequent emails he's sent me, he probably responded something like "yes, you'll get your money back if we don't bring you a buyer."

I took this to mean "a buyer who makes a fair-market offer on our business." He (and the contract) means "we will introduce you to some people who may be interested in buying your business." But of course that's how they almost suckered me out of $8000.

So, even though the salesperson always implies there's a money back guarantee if your business doesn't sell, that is not the case.

Ripoff Report saved me $8000, and I wanted to help other business owners to the same - or at least be aware of the sales practices used by CAG.

If members of the media or other business owners want to contact me, my number is 612-623-8123.

I know who the person who spoke to you is and I know who you are. I have tried to make contact. Please read your email. The person is not even a salesperson. He is an analyst. I pay him whether you move forward or not. So he has no interest in lying to you. The contract says it all. And by the way, we don't guarantee a sale. You could decide to change your mind in the middle and ask for you money back. How would that be our issue? I am sorry if he did and I will address it internally. I am not going to post on a site like this. Have a wonderful day all and please read my post above for contact information to reach me if you have any questions or concerns.

I completely agree and understand that you must spend money in order to sell a business. I have no complaints there (though the $8000 valuation fee is exorbitant - go to any other business valuation company and they will charge much less).

Your long reply about the importance of a valuation report didn't address my central complaint at all: that is your sales person engages in highly misleading and unethical sales practices. Your sales person outright lied to me, and continues to do so through email exchanges. He verbally promised that if our business didn't sell within one year, we would be refunded the $8000 fee for the valuation report. In writing, he still claims that's what the contract says, though in more sly terms: "the contract states we will bring you a buyer - whether you sell or not is your decision."

Here is what the contract actually states: " Corporate Acquisitions Group will introduce a qualified buyer interested in purchasing the above named company at fair market value or Corporate Acquisitions Group will refund the dollar amount listed above." In other words, as long as CAG brings someone who is "interested" in buying and just wants more information, CAG has satisfied the terms of the contract and will NOT refund our $8000.

Being "interested" and "making an offer" are two very different things. Your sales people treat them as one and the same.

The fact that you didn't even address my complaint about such highly unethical and misleading sales practices convinces me you know what you are doing is wrong, and you don't care. A truly legitimate company would have wanted to know who this sales person was, in order to discipline them, or to correct their corrupt sales practices. The fact that you don't even care about such sales practices show that you approve of them and even encourage them.

Finally, you obviously do searches of ripoffreport.com and the internet everyday in order to respond to complaints such as mine so quickly. You must hear similar complaints very frequently....I wonder why?

I am the president of this company. Anyone is welcome to post here, but why not just call and chat. Or in this case say no like you did?

Many people feel they can sell a business without any proof. Please ask yourself if you are reading this would you buy a business for $1,000,000 without any proof of value. Would your lawyer or accountant recommend it. Not every person we meet with has to pay a valuation. We pay for some, and some businesses never need one. It depends on who is buying. We have over 800 buyers and each is different in their criteria. We are happy to share our buyer list with any serious seller. Most buyers are people just like yourself who are scared to pay alot of money without proof.

I will never understand why people make a permanent record of their gripes. This person, nor ANY person has not been ripped off in any way by our company. Please refer to this very site for companies like Walmart, Wells Fargo Bank, United Airlines, Outback Steakhouse, Mesa Arizona Police Department, and the Better Business Bureau. All these companies have reports and they are not bad companies. There is no credibility to this site. You can post a report on any person or company anonymously and there is no validation of any kind. You could post a report on your neighbor, gas station because you think they are a ripoff because gas is so high, the president of our country, your city...anything. Nobody will verify it. Someone could even do it to you without thought.

We are regulated by the state of Colorado - Division of Real Estate. We are insured as a requirement of our licensing and bonded for over $600,000. We are not interested in anything other than selling a business. We will provide references of sold businesses as well as vendors, BBB reports, D&B Reports.

We do not care if you get a valuation or not. We have over 40 sellers where NO cost was required. We are not sorry if yours involves a cost. It is the nature of what we do. It is not free and never will be to sell your business. I am happy to provide articles from major news journals saying that you should do just what this person is so offended we asked to be done. Real business journalists who recommend just the same as we do.

Anyone reading this can call me personally at 303.792.2010 x. 705, and I am happy to provide anything you need to feel comfortable.

Ty