• Report: #526818

Complaint Review: Pinnacle Financial Markets LLC

  • Submitted: Sat, November 21, 2009
  • Updated: Tue, December 08, 2009

  • Reported By: youyuan — sunnyvale California United States of America
Pinnacle Financial Markets LLC
311 West 5th Street Suite 100,Austin, Texas 78701 Austin, Texas United States of America

Pinnacle Financial Markets LLC Alexander S. Nicholas The brokerage firm took $7500 from me with a teaser LOI and never refund me after telling me loan not doable ! Austin, Texas

*Consumer Suggestion: Pinnacle Capital Alex Nicholas

*Author of original report: Pinnacle Capital Markets took my $7500 deposit !

*REBUTTAL Owner of company: This Is Not A Registered Broker Of Pinnacle's And Is Not The Broker of Record or The Borrower

*Author of original report: Pinnacle Capital Markets took my $7500 deposit !

What's this?
What's this?
What's this?
Is this
Ripoff Report
About you?
Ripoff Report
A business' first
line of defense
on the Internet.
If your business is
willing to make a
commitment to
customer satisfaction
Click here now..

Does your business have a bad reputation?
Fix it the right way.
Corporate Advocacy Program™

SEO Reputation Management at its best!

Dear All Customers looking for a commercial Loan ,

I knew this company : Pinnacle Capital Markets , through another broker , Kevin Thomas from Ohio.

The guy , Alex, issued me a LOI , saying I got 5 days to respond to their offer to get a apartment loan for my building. Although in the LOI , there was no mentioning of a real lender, I trusted them and mailed in my signed LOI and $7500 cashier check.

After a month or more, they came back saying that they can't do the loan and promised me a partial refund in email.

Till today, 11/21/2009, I have not received a PENNY from Pinnacle !!!

I am very angry and I am hiring a lawyer in Austin to file a lawsuit against this company and its broker : Alex ! This guy is definitely a good LIAR !
 

YOUYUAN

This report was posted on Ripoff Report on 11/21/2009 11:18 AM and is a permanent record located here: http://www.ripoffreport.com/r/Pinnacle-Financial-Markets-LLC/Austin-Texas-78701/Pinnacle-Financial-Markets-LLC-Alexander-S-Nicholas-The-brokerage-firm-took-7500-from-m-526818. 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.

Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report.

Click Here to read other Ripoff Reports on Pinnacle Financial Markets LLC

Search for additional reports

If you would like to see more Rip-off Reports on this company/individual, search here:

Search Tips
Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?
REBUTTALS & REPLIES:
2Author 1Consumer 1Employee/Owner
Updates & Rebuttals

#1 Consumer Suggestion

Pinnacle Capital Alex Nicholas

AUTHOR: tellthetruth - (United States of America)

Go to the website Alex is listed as Vice President of Pinnacle Capital Markets LLC not broker. He is listed as vp for on docs they sent me also. Definetely a scam. Then did search with Texas Department of Corps and they arent listed as a corp, llc OR dba.

I agree, watch out.

Respond to this report!
What's this?

#2 Author of original report

Pinnacle Capital Markets took my $7500 deposit !

AUTHOR: youyuan - (United States of America)

Dear All ,

I am outraged by the lies from the posting of APinnacle.

I am seeking legal helps from a lawyer in Austin.

He'll help me file a lawsuit against Pinnacle Capital Market in a short period of time.

I have all the emails from the broker, Alexander , that saying he and his firm has agreed to refund me. However , that never happened. I will give the judge all the emails that I have stored.

These false statements from Pinnacle is their tactics to smear and lie.

I am an angry customer and I will suit in court to get my hard earned money back.

Pinnacle has lied to me and will do so to fool others. They should be shutdown by the Attorney General of Austin, in my opinion.

YouYuan
Respond to this report!
What's this?

#3 REBUTTAL Owner of company

This Is Not A Registered Broker Of Pinnacle's And Is Not The Broker of Record or The Borrower

AUTHOR: apinnacle - (United States of America)

In regards to this report posted by Mr. YouYuan. The broker of record and individual who submitted this loan to Pinnacle Capital Markets is Kevin Thomas of Kevin Thomas and Associates out of Ohio. The individual posting is neither the broker of record or the borrower which is the first of many problems with this false report. The loan was misrepresented to Kevin Thomas and Pinnacle Capital from the beginning. The loan was submitted as a refinance when in reality the borrowers had no seasoning on title and it was found were not on title from the beginning. Many facts of this loan were not brought to the attention of Pinnacle Capital, but were found out by our Due Diligence. Alex Nicholas is the account executive on this loan and is held in the highest regards at Pinnacle Capital. He has never been accused of anything less then a hard worker and honest. There are more then 250 brokers who have worked with Mr. Nicholas and will reiterate these same statements. The Letter of Interest that was issued states clearly that if the deal is misrepresented or any fraud is found that the upfront deposit would be forfeited and any/all 3rd party reports ordered would be the responsibility of the borrower. The LOI was signed knowing they had lied from the beginning. Not once did either borrower make a request for a refund, but an individual by the name of Sam Guo did. Pinnacle Capital Markets could not find any written proof showing Sam Guo's connection with this loan or the borrower's. Mr. Nicholas did try to get an exception for a partial refund, which was denied by Pinnacle Management per the contract. Pinnacle Capital Markets and Alex Nicholas did nothing wrong and these libel claims have been addressed by Pinnacle Capital Markets and Alex Nicholas' attorneys and if they continue we will begin our pursuit. Again the individuals, not Kevin Thomas, are the liars and they signed the LOI contract knowing the language in the contract and continued the process knowing the consequences if Pinnacle found out they were lying. Finally, Pinnacle Capital Markets and Alex Nicholas after finding the truth about the loan tried to salvage the loan by offering purchase financing, but the clients did not want the offer because they were interested in 100% financing, which was what they always wanted and why they played the games they did. Again it was management's decision not Alex's to not refund the money for all the reasons stated. Thank you.

 

 

Respond to this report!
What's this?

#4 Author of original report

Pinnacle Capital Markets took my $7500 deposit !

AUTHOR: youyuan - (United States of America)

Dear All Customers looking for a commercial Loan ,

I knew this company : Pinnacle Capital Markets , through another broker , Kevin Thomas from Ohio.

The guy , Alex, issued me a LOI , saying I got 5 days to respond to their offer to get a apartment loan for my building.

Although in the LOI , there was no mentioning of a real lender, I trusted them and mailed in my signed LOI and $7500 cashier check in 07/2009.

After a month or more, they came back saying that they can't do the loan and promised me a partial refund in email.

Till today, 11/21/2009, I have not received a PENNY from Pinnacle !!!

I am very angry and I am hiring a lawyer in Austin to file a lawsuit against this company and its broker : Alex ! This guy is definitely a good LIAR ! 

YOUYUAN
Respond to this report!
What's this?
Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?
X