- Report: #468255
Report - Rebuttal - Arbitrate
Complaint Review: Grand Capital Financial, Judy Wang
Grand Capital Financial, Judy Wang5020 Campus Dr. #8 Newport Beach, California U.S.A.
Grand Capital Financial, Judy Wang Cheated and Deceived Newport Newport Beach California
*Consumer Comment: WRONG REPORT
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My client paid to Judy Wang an immediate non-escrowed fee of 25k, with an additional 150k placed into the established escrow , with specific escrow instructions pertaining to the trigger of the release of those funds. The trigger being;
Stand By Letter of Credit Funding, applied for by [client] . Upon confirmation , the Escrow Agent shall, within 5 business days . Deliver funds to Grand Capital Financial.
Judy Wang submitted a fraudulent letter of commitment to fund against a yet to be acquired SBLC, the fraudulent letter was from Fifth-Third Bank, thus inducing the Escrow Agent to release the 150k directly to Judy Wang. Subsequently, the Fifth-Third Bank Letter was found to be fraudulent., and further Judy Wang, to this date, has NEVER produced a verifiable SBLC nor a funding source.
We engaged Grand Capital Financial April of 2008 and to date, Judy Wang has provided ZERO but has enjoyed the benefit of the 175k she was paid upfront . Point of fact, in Grand Capital Financials' Fee Agreement paragraph 4, it states;
If Grand Capital Financial cannot perform, the upfront .75% is refundable and the 25k is non-refundable.
We have requested Judy Wang to honor the contract and refund the 150k to which she continues to send illegible faxed responses with nothing more than jibber jabber in very poor English , that amount to nothing more than stall tactics.
Bottom line: Judy Wang/Grand Capital Financial , is deceptive, a scam and CANNOT perform. Do not send them your money.
This report was posted on Ripoff Report on 07/10/2009 10:43 AM and is a permanent record located here: http://www.ripoffreport.com/r/Grand-Capital-Financial-Judy-Wang/Newport-Beach-California-92660/Grand-Capital-Financial-Judy-Wang-Cheated-and-Deceived-Newport-Newport-Beach-California-468255. 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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