• Report: #834488

Complaint Review: New Castle Equity

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  • Submitted: Mon, February 06, 2012
  • Updated: Fri, February 17, 2012

  • Reported By: Kira — Lafayette California U.S.A.
New Castle Equity
Internet United States of America

New Castle Equity Newcastle Equity, Newcastle Equity Lending, Robert McCoy Fake Private Money Lender Internet

*Consumer Comment: Abacus Guard / Auburn Fund Scam

*REBUTTAL Individual responds: Kira Reinhardt is Lying

*Author of original report: New Castle Equity, Newcastle Equity, Newcastle Equity Lending, Robert McCoy, Fake, Private Money Lender, Internet

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This company is a scam.  They lure you in with decent rates, quick answers, and they say "no upfront fees" for private money lending.  But they do require that you send in the appraisal fee to a third party ahead of time (I paid $1,8000 to "finish the appraisal and inspections".  The third party company, in this case called Abacus Guard, is also fake and both websites were created by the same guy, Marty Sweet.  Other names to look out for are Robert McCoy and Joe Potts (although probably fake names as well).  I should know better, but you NEVER pay for an appraisal BEFORE it is finished!  So now they have my $1,800 and they won't return any calls.

They have also worked under the name Hard Money Placement, Inc.  Although they got discovered and closed that down pretty quickly.  Now they are New Castle Equity, Inc.  However, they don't exist as a corporation that has filed with the Department of Corporations, nor do they have a business license on file or even a Fictitious Business Name statement!  They don't exist at all.  The photo of the three "officers" is a fake too.  Those names don't exist either.  It is a stock photo you can buy on the internet.

Lastly, they like to prey on LinkedIn.  That is how I got stuck in this mess.  So beware!!!!!


This report was posted on Ripoff Report on 02/06/2012 06:28 AM and is a permanent record located here: http://www.ripoffreport.com/r/New-Castle-Equity/internet/New-Castle-Equity-Newcastle-Equity-Newcastle-Equity-Lending-Robert-McCoy-Fake-Private-Mo-834488. 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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REBUTTALS & REPLIES:
1Author 1Consumer 1Employee/Owner
Updates & Rebuttals

#1 Consumer Comment

Abacus Guard / Auburn Fund Scam

AUTHOR: California Victim - ()

 These guys are a scam. They also use the names Robert Graham and Greg Oswald. 

On its website, Abacus Guard claims to have been bought by ATC Security Services, Inc.

I've come in contact with someone else scammed by these guys when they used TAP Commercial as the phony lending front.

As others have said, "Greg Oswald" actively uses LinkedIn to present some legitimacy.

I noticed today, however, that the photo has changed and the profile now uses the name Anthony DeMarco.

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#2 REBUTTAL Individual responds

Kira Reinhardt is Lying

AUTHOR: Jaithomas - (United States of America)

I have worked as an inspector for Abacus Guard for 3 years where we quietly do property and document veracity inspections for investors.  What she is saying here is not true.  She ordered an inspection from us on a Friday and cancelled it on a Monday.  Most of the work had been done and so we were going to be out most of the expense.  As a favor to the lender, we agreed to refund her money.  But after seeing this post from her, I will recommend to the owner of our company that we just finish the report and issue it as per our contract.

I have seen some back and forth emails from her to her cohorts and I believe that the only reason she wanted to cancel the order was because money is tight right now.  Which, believe me was reason enough.  All she had to do was just say so.  People have done that before and we have always tried to help people in that position.  She didnt need to trash good peoples reputation with tales of fraud.  I believe she did this as a bully tactic to get a refund.  Very uncalled for and telling.

Most of the names she is throwing around here are not even real people and the rest of it makes me wonder what she might be taking.
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#3 Author of original report

New Castle Equity, Newcastle Equity, Newcastle Equity Lending, Robert McCoy, Fake, Private Money Lender, Internet

AUTHOR: Kira - (U.S.A.)

This company is a scam.  They lure you in with decent rates, quick answers, and they say "no upfront fees" for private money lending.  But they do require that you send in the appraisal fee to a third party ahead of time.  I paid $1,800 to "finish the appraisal and inspections".

The third party company in this case is called Abacus Guard  It is also fake and both websites (Newcastle and Abacus) were created by the same guy, Marty Sweeten.  Other names to look out for are Robert McCoy, Mark Stagger and Joe Potts (although probably fake names as well).  I should know better because you NEVER pay for an appraisal BEFORE it is finished!  So now they have my $1,800 and they won't return any calls. They have also worked under the name Hard Money Placement, Inc., although they got discovered and closed that down pretty quickly.  Now they are New Castle Equity, Inc, or Newcastle Equity, Inc (they spell it two different ways).  However, they don't exist as a corporation that has filed with the Department of Corporations, nor do they have a business license on file or even a Fictitious Business Name statement!  They don't exist at all.  The photo of the three "officers" is a fake too.  Those names don't exist either.  It is a stock photo you can buy on the internet. Lastly, they like to prey on LinkedIn.  That is how I got stuck in this mess.  So beware!!!!!  
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