- Report: #1012434
Report - Rebuttal - Arbitrate
Complaint Review: Konkel Brokerage
Konkel Brokerage267 Franklin Street Internet United States of America
Konkel Brokerage Brad Konkel, Frances King Loan Scam, Western Union and Chase Bank scams, Internet
*Consumer Comment: Refund
*Consumer Comment: NOT A SCAM
*Author of original report: No refund
*Author of original report: No refund
*Consumer Comment: refund
*Author of original report: Brad Konkel to offer refund
*Consumer Comment: KONKEL BROKERAGE NOT SCAM
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This isn't the typical scammer here. His words were meticulous, spelling was top notch, grammer was excellent. He has a website with his picture and Brad Konkel is also listed on LinkedIn with the same photo and 3 business connections.
LinkedIn Profile states he is a Howard Graduate and several other fancy things. His website has testimonials where multiple people have been funded. One of the testimonials even reads that "I thought upfront fees were a scam, but Konkel Brokerage proved to me they were not, quick and easy etc"
It is all very convincing. Firs thing they ask for is you to sign an agreement, a Letter of Disbursement. This outlines how much your funding will be after you agree to pay the fee etc and is signed by both Brad and Frances, his venture capitalist for this particular transaction. Next is for you to pay the percentage of the loan as Brad's broker fee. Well actually half of the fee is due up front. In my case, $300. You need to Western Union it to his Venture Capitalist in Bonifay Florida though, Frances King. After that is done you are told the loan will be funded.
Not quite yet though. Afterwards, you are told suddenly the VC requires a MSRD payment be made to help ease their minds since this is an unsecured loan. It is a new requirement that Brad was unaware had gone into effect already. This fee is $500 again Western Union to Frances in Florida.
I suggested Escrow.com for both fees but that was not immediately shot down, I was later told they had many busy clients and not enough time to deal with that etc.
So after the MSRD is paid, then you are expecting your loan. Well then you have to complete a Pyschological Analysis Process, PAP that proves that you are a good person and will repay the loan.
What this entails is setting up a Chase bank account, sending them the information. They then deposit a set amount of money and you will withdraw it and send it back to them. This proves that you are legitimate and won't walk away with their money.
After this apparently you are supposed to get the loan. Thats as far as I got.
This report was posted on Ripoff Report on 02/11/2013 02:52 PM and is a permanent record located here: http://www.ripoffreport.com/r/Konkel-Brokerage/internet/Konkel-Brokerage-Brad-Konkel-Frances-King-Loan-Scam-Western-Union-and-Chase-Bank-scams-1012434. 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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