• Report: #1028538

Complaint Review: Lighthouse Capital Development

  • Submitted: Thu, March 14, 2013
  • Updated: Sat, April 26, 2014

  • Reported By: DD — Charlotte North Carolina USA
Lighthouse Capital Development
159 Hampton Point Drive, Suite 2 St Augustine, Florida United States of America

Lighthouse Capital Development AKA Euro Direct Holdings, Walter C Parsons, Jack Smith BEWARE TO ANYONE APPROACHED FOR FUNDING FROM Questus Global Capital Markets St Augustine, Florida

*Author of original report: Indicted!!!!!

*Consumer Comment: QGCM is real

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Our company was directed to Lighthouse Capital Development LLC through a third party that was raising capital for our start up.  The principals of Lighthouse Capital/Euro Direct Holdings stated that they were working with Questus Global Capital Markets and they were a LARGE SHAREHOLDER in this fund. 

We proceeded with the process with them and have in our possession contracts, loan agreements, distribution of funds agreements all signed by the principal Walter Cox.  As well, we have two letters of proof of funds (dated 2011 and Feb. 2012) from a New York attorney firm; Boddied and Associates P.C, Corey D. Boddie. 

Our contract calls for all closing costs to be paid out at closing; however, later Walter Parsons told us that Questus required a $300,000 "underwriting" fee to be paid up-front and since we didn't pay this fee and since they didn't have "enough equity ownership" of the company....they didn't think they would fund us. 

Throughout this process, we were told that they had to go to the Turks and Caicos and open a company, Euro Direct Holdings, as requested by the owner of the Questus Fund. They said they had a LARGE OWNERSHIP of this fund.  This was the same story I read in another rip-off report about another firm soliciting this fund.  Now our project was in the 10's of millions.  I called other companies that were listed in the Reuter's press release and spoke to several other principals.  I received back e-mail that simply said "BEWARE" and two that contacted me directly.  One project on the table through Questus but with a different broker had a project in the 100 millions.  To my knowledge, they paid the $300,000 fee and to this date are not funded either.

Today I read on FE Investegate that the fund's face value if $1,004,100.  (see the copied text below)
Questus Global Capital Market Ltd reports one billion in policies have been pledged to back their shares (QGCM)  www.gxgmarkets.co.uk

FACE AMOUNT $1,001,400.00


Questus Global Markets, LTD.


Common sense would then tell us that all these claims of major ownerhship with the ability to fund multiple million of dollars in venture capital are FALSE.  So, where are all these underwriting fees going?.....besides to the Turks and Caicos where you'll never see it again and like us, despite all the proper documentation, you will never see any funding.

Also, noted is that the Candadian Securities Administration has Questus Global Capital Markets on the New Brunswick CSA "Watch List" as they only have an address in New Brunswick, Canada but the fund address on GXG is listed in England. 

I do hope the US Authorities shut down these solicitors of this fund in the US and soon before more companies looking for authentic venture capital are RIPPED-OFF.

This report was posted on Ripoff Report on 03/14/2013 07:14 AM and is a permanent record located here: http://www.ripoffreport.com/r/Lighthouse-Capital-Development/St-Augustine-Florida-32092/Lighthouse-Capital-Development-AKA-Euro-Direct-Holdings-Walter-C-Parsons-Jack-Smith-BEWA-1028538. 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 Author of original report


AUTHOR: Frustrated and Peeved - ()

Jack Smith and Walter Parsons are facing Indictment.



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#2 Consumer Comment

QGCM is real

AUTHOR: Jeniffer - ()

As the owner of QGCM shares, we were successfully funded by a funder/lender using our QGCM shares.   There is no scam
here...we have been scammed by fake funders and brokers in which we provided fees to pay for their "due diligence" and "legal fees". 

So dont claim something you cannot officially prove.  For you to state that QGCM which is listed on GXG Exchange and is currently valued up to $1 billion USD...and successfully trading...and call it a scam, is like stating that the whole NYSE or GXG is a scam.  Get real.

QGCM is legit and real as it gets....you are just heartbroken because it is not a Apple or Microsoft type stock.

The fact is...you stated you worked with a third party...Questus doesnt fund projects.  The Lender or Funder is the primary funder for your project.  The stocks and insurance are used as collateral for the Lender for the project.   The shares are extra collateral in which the Lender can take advantage of if the borrower defaults.  Depending on the loan terms, the Borrower gets the shares and insurance back after the loan has been repaid.

You cannot close a deal with a third party claiming they own the shares and expect to get funded.  QGCM doesnt allow funds to be sent at all to them and there is no such as underwriting fees...i dont know where you got this idea but that is now how it is executed.

The scam is committed when the third party is assigned the shares by the real owner of QGCM, in which the  third party takes the shares and is guaranteeing they can fund the stock and the project, only to be discovered that they are merely shopping it around looking for other funders.  This is what they tried to do to us.

So dont state that you were trying to get funded by QGCM, the fact is...you were trying to get funded by scammer brokers who charged you an upfront fee for their services. 



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