• Report: #577728

Complaint Review: ENTRUSTCAMA

  • Submitted: Wed, March 03, 2010
  • Updated: Thu, November 15, 2012

  • Reported By: San Fernando Valley — Mission Hills California U.S.A.
512 Township Line Road Blue Bell, Pennsylvania United States of America


*Author of original report: NOBODY ASKED FOR YOUR TWO CENTS ^^^^

*Consumer Comment: get a life.

*Consumer Comment: ENTRUST CAMA is a Quality Organization

*Author of original report: OH... ATO THE SIDE...

*REBUTTAL Owner of company: EntrustCAMA customer satisfaction is our top priority

*Author of original report: CORRECTION TO ABOVE....

*Author of original report: STILL NO PHONE CALL FROM EC. NO SUPRISE.

*Author of original report: STILL NO RETURN CALL AS OF TODAY / UPDATE

*Author of original report: UPDATE

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I closed out my IRA CD account at the end of January 2010 and was given a cashiers check by Chase Bank in North Hollywood CA. I mailed it to EntrustCAMA in Blue Bell PA as per their directions, to invest in a self directed IRA investment with them. Which in turn was going to be invested in a peer to peer lending club. Lendingclub.com, Jeff M. Anyhow, the check and paper work made it to EntrustCAMA per the tracking number. They say that they never got the check but got the paper work. Intresting. When i asked them who opens their mail, i could NOT get an answer. The bank wants a 2% service charge of the face value to get a new check issued. Since the check was from an IRA account, i have only 60 days to reinvest it or be hammered by heavy penalties etc etc etc. Remember it was from a matured IRA CD account. Chase will only wave the fee if i wait 90 days, so you do the math. [continued below]....

.....  I was assured on several occasions over the past 30 days from EntrustCAMA staff and officers, even in an email from them, that they would pay the fee. Today they said that they were only going to pay 25 percent of the fee, wanted me to pay 50 percent (LOL) and lendingclub.com to pay the other 25 percent. lendingclub.com had nothing in a sense to do with the check getting lost. So what does that tell you about EntrustCAMA's integrity? Investors should consider using this outfit because they WILL turn their back on you, but only after giving you some run round. They cannot be trusted! Lied to me! Broke their promise! Use caution before being tempted by their claims. I feel mine turned out to be false and misleading. So misleading, i paid the fee myself to the bank today since no one else wanted to take full responsibility for their mistake (i had no choice but to). I have to get this money reinvested soon before i get screwed by the IRS and everyone else that wants to dip into my pocket. ENTRUSTCAMA.... YOU SUCK !  Bunch of liars ! DONT TRUST THE BLUE BELL PA OFFICE.

This report was posted on Ripoff Report on 03/03/2010 11:00 PM and is a permanent record located here: http://www.ripoffreport.com/r/ENTRUSTCAMA/Blue-Bell-Pennsylvania-19422/ENTRUSTCAMA-BLUE-BELL-PA-The-Entrust-Grroup-LIED-DECEPTION-LOST-MY-IRACD-CASHIERS-CHECK-577728. 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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6Author 2Consumer 1Employee/Owner
Updates & Rebuttals

#1 Author of original report


AUTHOR: San Fernando Valley - (USA)

If i wanted your two cents i would have asked for it. You have nothing to say about this matter because you dont know the COMPLETE story and all the promises that Maggie made and NEVER kept. So step aside and get yourself a life.... JERK!
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#2 Consumer Comment

get a life.

AUTHOR: mary c - (United States of America)

I think it is obvious by the tone of all of these reports, that the author is a hot head! I have been a long time customer of Entrust Cama in Blue Bell, and they have always been very helpful with all of my investments, and the procedures I need to follow.  I'm sorry to hear that you had a bad experience.

I think that mistakes happen in all industries, and whether it is the post offices fault or not, all any one can do when a mistake happens, is to work to make it right. Even then, things don't always work out, but most of us figure out how to drop the anger and move on.

If Entrust Cama had committed some sort of fraud, that would be another matter, but a simple mistake? Get over it. I have lots of issues with various business contacts, I argue or discuss over the phone, come to a conclusion, and forget it. (that doesn't mean I'm happy, I may not use the person again, but that's the nature of business.) Anyway, I hope the author has found another IRA firm, that he is happy with. 

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#3 Consumer Comment

ENTRUST CAMA is a Quality Organization

AUTHOR: CHARLEW - (United States of America)

I find Mr. T's comments very difficult to believe, and almost impossible that it is ENTRUST CAMA'S fault. I have nothing but absolute respect and good things to say about EC.

First of all, I am not an employee of EC and I was not aware of this situation prior to just now seeing it, while looking something else up. I have spoken with no one at EC about this situation, and they have in no way asked or approached me to write anything, although I do know the people at EC and have known Maggie for a number of years. I have the utmost respect for Maggie and ALL of the staff at EC

I have been a customer of EC and I have worked with numerous people that became customers of EC and people I have referred to EC.

I have never known anyone at EC not to respond, reply or take care of any problem or issue that might have arisen. They are on top of their game, and know exactly what they are doing.

Mr T, followed a procedure that is NEVER recommended when moving money from one IRA or pension plan to another, that is, him personally sending a cashier's check. It should come direct from the surrendering custodian, that way you do not have to deal with the 60 day rule, AND it avoids the possibility of this issue happening. I have no doubt that it is a Postal Service issue and not an EC issue.

Mr T has tried to make this sound, through all of his posts, that he is the victim, and EC is all to blame. But I am sure that if he bothered to get instructions from EC he was told NOT to send it via a check. It is also very appearant to anyone reading his diatribe, he does not seem to be a very congenial person. It sounds to me like his verbal abuse actually made it impossible for EC to work with him in a reasonable and rational manner. All you have to do is read his approach in the posts to see, just how abusive it appears he can be.

Personally, EC has handled my account in a very professional manner, and the accounts of others I have worked with. I have referred somewhere around 15-20 people to EC and have NEVER heard ONE single bad comment. This has been over a period of several years.

I still do and would HIGHLY recommend ENTRUST CAMA to anyone looking to use their self-directed IRA, pension plan, or educational account, to its maximum potential.




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#4 Author of original report


AUTHOR: San Fernando Valley - (USA)


 Fact: It took quite some time for her to file a rebuttal. Doesn't it make you wonder? Any reputable company/organization would "have" resolved a customer/consumer concern immediately if not in a timely manner before it spiraled to this.

 What Maggie FAILS to tell you all is that, this went on for MANY weeks without any resolution, only a broken promise. Remember, Maggie? Or did you conveniently forget? Remember all the run-around your company gave me? All the wasted time of my banks officer? My time? Jeff from LC's time? How Pathetic.

Write some truth, not just a fraction of it. Tell the ENTIRE story. Come on. You and some of your officers (or what ever you want to call them) said that your organization was going to pick up the fee REQUIRED by the bank and you didn't. One of your officers even emailed me and said a check was going to be sent out the next day. Fran i believe. Remember? What happened? Your organization even told my banks officer they were going to pay for it. Forget that too? Even Jeff M. at LC was told you all were going to pay for it.... forget that too?

Wait Wait Wait. I know. Fact is, when you found out how much the fee was going to be, you changed your mind and sent me on the lost trail. You should take financial matters seriously, Maggie.

YOU NEVER PAID IT IN FACT DID YOU MAGGIE? Only to be reimbursed from Jeff M at LC. So why did Jeff M pay it? Come on lets' hear it. Who paid it up front Maggie? Did you forget that too? 

Why was no answer ever given about who opens the mail down there when asked? Forget that too? Because you can't face the truth! Your hiding something. Admit it.

FACE IT. You all did lose it. You didnt see it cause you dont open your mail do you. The bank fee was paid/reimbursed by a third party. Did you forget that too? Wow... allot has been forgotten.

And why was a check mailed? Because one was instructed by your office that was a option. Forget that too? Oh my... to much forgetfulness for me.

 Step back hunny and look in the mirror. And why do you work for free? If you are not charging any fees for you services... why offer them? Don't BS me. Are you getting commission kick backs from LC? Come on. Tell us. It's OK to tell the truth.


Maggie says above: "EntrustCAMA has not earned any fees whatsoever either directly or indirectly from Mr. Tapia. We provided Mr. Tapia our services at no cost,

Mr T Says: Services were NEVER rendered to him cause there is NO active account with EC. Never was. Never will be. Since they lost the check for tens of thousands of dollars... how can an individual do business with an organization that is so wreckless with ones money?

Maggie Says: "After Mr. Tapias first report of the missing check on February 9th

Mr T says: report a missing check? They tipped it off by several calls asking about it. After the third call, it was all together that they lost it. It was then when the question came up of who recieves their mail. How is the mail handled. Never got an answer. Intresting aint it Maggie?

Mr T was never asked for permission to "waive his confidentiality rights" on emails.


Maggie says: "March 3, we continued to work diligently, and at no cost, trying to assist him.

Mr T says: Lies lies lies.... never endless run around. It was Mr T that had to keep calling EC, cause their follow through was EXTREMELY poor.

More than 8 calls and ten emails have been exchanged. This place is clearly distorting the truth to make them look good. Even up to this moment, i am wasting my time. But i feel compelled to to advise other consumers what can ahppen to you if you deal with this place. TAKE YOUR CHANCE PEOPLE. Take your chance.

Finally, as she posted her number to call and ask any questions... dont forget that their are two sides to this story and not just one Maggie. Please feel free to contact Mr T and he will tell you what really did happen.

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#5 REBUTTAL Owner of company

EntrustCAMA customer satisfaction is our top priority

AUTHOR: EntrustCAMA - (United States of America)

To all of our current clients, potential clients and the financial community:

I am Maggie Polisano, principal and co-founder of EntrustCAMA Self Directed IRA (referred to throughout theses postings as EntrustCAMA). EntrustCAMA has been in business for 6 years, has over 2000 accounts totaling approximately $150 million of funds invested in self-directed individual retirement accounts or IRAs. We pride ourselves on providing the highest standards of quality and services to each and every one of our clients.

Over 90% of all funds transferred to our self-directed IRAs are made directly from 401k plans, Educational Savings Accounts, Health Savings Accounts and other IRAs. We have never asked our clients to send us cashiers checks, but instead discourage them from doing so.

 Mr. Tapia claims to have sent us a cashiers check on January 30, 2010 for deposit into his account. Though we do not dispute that a mailing took place via U.S. Postal Service, we do not have any record of receiving a cashiers check from Mr. Tapia. Such check has subsequently been cancelled, so there is no possibility of anyones improperly retaining any of Mr. Tapias funds.

We believe that the check was never sent to us, but because we value our clients and their business, we offered in good faith to pay 25% of the $445 fee that Mr. Tapias bank charged him to reissue a check.

EntrustCAMA has not earned any fees whatsoever either directly or indirectly from Mr. Tapia. We provided Mr. Tapia our services at no cost, spending our time trying to help him in researching options, processing his paperwork, corresponding with his bank, and reviewing various affidavits.

After Mr. Tapias first report of the missing check on February 9th, we have spoken to Mr. Tapia eight times via telephone and have exchanged ten email messages with him, even as he has continued to accuse and insult us. We did this because we respect and value all of our clients. These messages are protected by client confidentiality, but if Mr. Tapia would waive his confidentiality rights, I would be happy to post them on this site.

Please note that despite Mr. Tapias posting his first false and misleading entry on your website on March 3, we continued to work diligently, and at no cost, trying to assist him.

Despite our hard work, Mr. Tapia has been very rude and personally threatening to our staff and to me personally. Consequently, even after all of our hard work on his behalf and being paid no fees whatsoever from Mr. Tapia, we chose on March 10th 2010 to no longer provide service to him.

If any of you have any questions or concerns about self-directed IRAs, EntrustCAMA or any of our policies, please feel free to visit our website at www.entrustcama.com or contact me personally at 215-283-2868.

Warmest regards, Maggie Polisano

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#6 Author of original report


AUTHOR: San Fernando Valley - (USA)

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#7 Author of original report


AUTHOR: San Fernando Valley - (USA)

As of today, the 18th, i have got a return call from Magge at the Blue Bell PA office. At this point in time it should be no surprise. She called me, i called her back and left a message with Mr Patel, and no call back as of today. HOW PATHETIC.

    Step up and take responsibility Maggie.

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#8 Author of original report


AUTHOR: San Fernando Valley - (USA)

So as of today NOBODY from EbtrustCAMA's Blue Bell PA office has returned my call, in particular Maggie. Oh well. I dont expect a return call at this point. What a shame. Such a poor business person/place.

On Monday the 8th, March 2010, I got a call from Jeff M at LC. He tells me that I will get a credit/the fee back that i had paid the bank to get the chek reissued if this report is removed, my account would be opened at EC and i take no small claims court action. In my personal oppinion, it sounded like bribery and intimidation at the same time. What do you think? He said that he was just sending messages from EC. Why cant EC speak for themselves? Well... NO GO! Sorry Jeff. EC has to respond themselves. I echoed that again to him an an email on Tuesday the 9th I believe. And since EC does not appear to be willing to return my last call to them, i explained to Jeff M at LC, that the letter of demand would be enforced after the 21st day.

Well in the end, LC stepped up and paid the fee via a credit to my account. Why? I am not so sure. But i have a feeling someone stepped on thier own toes. As for EC, they never called me back as of today the 11th, March 2010. And i was also told that they would not open an account for me and if i had any questiuons to call Mr Patel over at EC. NO BIG DEAL. Did they forget that they are NOT the only game in town? Besides, with so much drama, mistrust, lies and tales... i simply cannot and would not trust them with my money anyways. They couldnt, and wouldnt admit to their mistake. Just swallow it! +*!^ happens. But they wont admit it. How pitifull...... WAKE UP EntrustCAMA OF BLUE BELL PA ! Wake up.

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#9 Author of original report


AUTHOR: San Fernando Valley - (USA)

As of yesterday, i have NOT recieved a return phone call from Maggie at EntrustCAMA. WOW! What a lack of communication. I was taught "the power of Communication". Anyhow... I have been in touch with Jeff M. at Lendingclub.com over the past few days. Why his intense intrest in this matter is mind bogling to me. I did mail EntrustCAMA a letter of demand last week as required by California State Law. It shows as being delivered per the Fed Ex Tracking Number. Just waiting for the demand of 21 days to pass and will write you all more to tell you what has transpired or where this is going. I am just amazed that EntrustCAMA has not made any other attempt to contact me. Actually, it seems that ever since they got the "Letter of Demnand", communication has stopped. Very intresting now that i think about it. Very intresting. Especially in such a serious matter. Not to mention their reputation. They sure are giving the complete wrong perception about themselves, at the Blue Bell PA office that is. Will keep you all up to date.
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