- Report: #962993
Report - Rebuttal - Arbitrate
Complaint Review: Kevin Anthony Crespo
Kevin Anthony Crespo1555 Restful Way Newport, Tennessee United States of America
Kevin Anthony Crespo Armco Development Kevin Anthony Crespo was a government contractor who frauded myself and my business out of over $210K in 2010. We funded a feasitbility study he requested with six months of work which included the re Newport, Tennessee
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Our team was hired to work for six months with a contracted guarantee of $210K upon completion of our project. We concluded on time and the project was accepted. After weeks of excuses as to why our team was not compensated, we realized that Mr. Crespo and his company was not what they appeared to be and reported his actions to our local police who then contacted the FBI. Kevin Anthony Crespo went into hiding. Other businesses started calling me reporting similar situations.
My business did the up front funding of the project which maxed out all financial resources leaving a significant debt now placed solely on myself which maxed out our debt to credit ratio thus creating interest rates of up to 35%. At that time the credit card companies had no government regulations in place requiring them to work with their clients to lower interest rates so they would not negotiate and therefore the monthly payments on Crespo's debt was over $7,000 per month.
I carried the burden on myself working a year and a half making the payments to pay down the principal and hoping they would catch him only to find out that when they did, he had no funds at all. He had stolen over $2 million dollars from small and medium size businesses. My attorney and the Toledo Courts finally advised and assisted me in separating myself from his remaining debt caused by this fraud through Bankruptcy protection for which I am sad and grateful. I know that others also have suffered financial devastation from this man and his followers and I advise those who meet him to report him to the authorities as I am sure there are many who are looking for him.
This report was posted on Ripoff Report on 11/01/2012 02:42 AM and is a permanent record located here: http://www.ripoffreport.com/r/Kevin-Anthony-Crespo/Newport-Tennessee-37821/Kevin-Anthony-Crespo-Armco-Development-Kevin-Anthony-Crespo-was-a-government-contractor-wh-962993. 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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