• Report: #940912

Complaint Review: Larry Bolterstein

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  • Submitted: Thu, September 13, 2012
  • Updated: Mon, February 18, 2013

  • Reported By: Michael — Plano Texas United States of America
Larry Bolterstein
102 Kingsridge Drive Greenville, South Carolina United States of America

Larry Bolterstein Reedy River Took Escrow Monies Greenville, South Carolina

*Consumer Comment: Loan Scam

*Consumer Comment: Malcolm Hampton Douglas Brooks partners in crime

*Consumer Comment: Malcolm Hampton Douglas Brooks partners in crime

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This is to convey only the facts as I see them.

This involved Malcolm Hampton of Five Star Investments;
Larry Bolterstein and Mike Orr of Reedy River and an attorney in Dallas, Texas;
Douglas Brooks (Brooks served as the escrow agent.)

I contracted Larry Bolterstein of Reedy River from Atlanta, Georgia and Mike Orr his partner to help us raise capital for my business.

Originally Larry Bolterstein was working with a companycalled Cognegy and was to raise capital for us. I put up $35,000 into escrow with an escrow agent (attorney) in Rockwall County (outside of Dallas, Texas). The escrow agents name was Douglas Brooks. Hes an attorney.

I felt if Reedy River / Larry Bolterstein did not deliver the investor or investment funds, we could at least get our escrow monies back.

We found later that while Larry Bolterstein did work for Cognegy, but he secretly started Reedy River with Mike Orr. Cognegy has no clueat least they claim.  (red flag number one:  being dishonest with your employer)

The way Larry presented it to me was that Reedy River was a subsidiary of  Cognegy. This was not the case. His emails were always from Cognegy but all agreements were Reedy River... up until he left, which is when we filed suit against Reedy River and Douglas Brooks.

Larry came to me around December 1 of 2010 and said he had an investor willing to put up $12 million dollars. We signed a term sheet and the money was to be funded to my company in a matter of days.

Then the lies started. Friday becameit will be next Monday.  Next Monday became, it will be next Thursday.

That was around December 12th of 2010.

After about 5 months, around May of 2011, I finally said I had enough and to return my escrow. Thats when I found out that Douglas Brooks no longer had my escrow money.

That's when Larry stopped talking me to altogether.

I called Cognegy, the company he worked for. They said Larry quit that Friday. Hmmmm..interesting.

Someone took the money.  I have proof the money went into an attorney trust account (ATA) with Brooks. But my agreement is signed with Reedy River.

Enough said. I spent well over $10,000 in additional attorneys fees to try and get the money back but when I saw where Douglas Brooks lives and how he dressed (yes I looked him up)I knew I was wasting even more money.

Stay clear of Malcolm Hampton. I think this guy is an idiot. He and Brooks have a history together. This isn't their first court show with each other.  I now find that he told Douglas Brooks to buy MTNs or some investment from an out of country firmwith my money. There never was an investor.

I know enough about MTNs to know no one in their right mind would buy those in this market. Obviously this guy isnt too bright.

Ive dropped the suit because Im now broke. I cant afford to keep the litigation going.

My suggestion is to steer clear of Mike Orr, Larry Bolterstein, Malcolm Hampton and Douglas Brooks.

I also find it interesting that the address is in South Carolina and Larry lives in Georgia.

http://www.ishcc.org/SC/Greenville/reedy-river-capital-llc

http://www.bizapedia.com/ga/REEDY-RIVER-CAPITAL-LLC.html

I have all emails from Larry Bolterstein, Malcolm Hampton and Reedy River. I also have all the legal docs from them, my attorney etc to back my claims.

I also have an agreement signed between Hampton and Brooks showing Hampton told Brooks to spend my money.

If you want or need more details...shoot me your contact info. Be happy to share the details.

I have also filed with my local Bar Association in hopes of protecting other from Brooks. Found out he's already got 2 marks against him. For what I'm not being told.

This report was posted on Ripoff Report on 09/13/2012 08:08 PM and is a permanent record located here: http://www.ripoffreport.com/r/Larry-Bolterstein/Greenville-South-Carolina-29615/Larry-Bolterstein-Reedy-River-Took-Escrow-Monies-Greenville-South-Carolina-940912. 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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#1 Consumer Comment

Loan Scam

AUTHOR: DellToms75 - ()

Michael - please send me your contact information to delltoms75@gmail.com. I would like to discuss the matters outlined in your post.

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#2 Consumer Comment

Malcolm Hampton Douglas Brooks partners in crime

AUTHOR: How Does This Happen - (United States of America)

TO ALL CONSUMERS/INVESTORS

If you are approached by an individual named Malcolm Hampton, please run from any sort of solicitation of "investment"  This is a total and complete Ponzi Scam.  Complaints have been made to the Chicago FBI Field Office, Dallas Office and Sacramento Field Office.  Malcolm owes nearly $300,000.00 in back child support.  He has filed numerous bankruptcies in Texas, his home in Caddo Mills, Texas was foreclosed, his former associate, Neal Quigley (check Texas Department of Criminal Justice) is in prison, Quigley is a convicted rapist and financial scammer.  Malcolm has a wife named, Tonya who operates in the real estate field, please check all public records in Texas, including bankruptcy court records, foreclosure records, judgments, etc.  The attorney he has used in previous scams is Douglas J. Brooks, Douglas has been featured on Fox News in Dallas, Texas for investigation related to scams, there is a lawsuit filed in Rockwall, Texas against Douglas J. Brooks and Malcolm Hampton for alleged fraud.  There is not a trade platform, there is nothing, your hard earned money will go to pay personal bills and money to other investor's that Malcolm and Douglas are scamming.  I would strongly encourage you to contact law enforcement regarding these individuals..
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#3 Consumer Comment

Malcolm Hampton Douglas Brooks partners in crime

AUTHOR: How Does This Happen - (United States of America)

I have worked with both of these individuals and I have been successful at recovering the funds they stole from me.  You were scammed;  they have scammed several people throughout this country, SEE TRED HOLDINGS, Bankruptcy filing via google search by typing in Malcolm Hampton Tred Holdings.  I certainly can help you.  Please call me at 214.872.0711 if you wish to proceed.
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