- Report: #1078673
Report - Rebuttal - Arbitrate
Complaint Review: Clement
Clement14350 N Frank Lloyd Wright Scottsdale, Arizona USA
Clement Anderson aka Clem Anderson dba Dakota Holdings, LLC Rip Off Loan and Funding Scam Scottsdale Arizona
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My company sought out private lender financing as a bridge loan prior to obtaining a conventional loan from a bank.
Through what we thought was a reputable broker, we were introduced to Clement Anderson (aka Clem Anderson) and a company he purported to own called Dakota Holdings, LLC. We provided Clem Anderson with more than $20,000, in advance, for expenses associated with due diligence associated with the prospective loan. He traveled to Michigan to view the businesses that were designated for the funding and properties that would have been used to secure the loan.
His travel was the only arguable "expense" he incurred. We encouraged him to get title work on the properties with the funds that we provided to him. He did NOTHING else. Rather, he sat on our money, was difficult to get in touch with (always in the "mountains" where his phone didn't work), created unreasonable demands to funding and blew the deadlines in our contract.
Our contract provided for a FULL REFUND of the deposit, less actual expenses, if certain conditions were not met. Those conditions were not met. Clem Anderson refused to return the deposit. We are currently suing Dakota Holdings, LLC (which doesn't even seem to be a registered company in Arizona) and Clement Anderson in Michigan for, among other things, FRAUD.
I don't believe Clem Anderson ever had the intent, or ability, to fund the loan. Otherwise he would have engaged in due diligence with the money we gave him (title work, legal, etc.). He made sure he kept as much of the money he could while putting on a decent show (traveling to Michigan, etc.) to make it appear as though he wasn't pulling a scam. Now he has our money and we have a lawsuit.
While investigating the lawsuit, we discovered that Clem Anderson has had multiple "funding" companies and even was mentioned in a Rip Off Report (had to dig deep for that one because it was related to a different company than we thought we were working with). I hope this report cautions anyone to reconsider doing business with Clem Anderson, Dakota Holdings or any company he is associated with. Had we known, we would not have given him a dime.
BE WARNED... CLEM ANDERSON ripped us off, you may be next!
This report was posted on Ripoff Report on 08/24/2013 09:16 AM and is a permanent record located here: http://www.ripoffreport.com/r/Clement-/Scottsdale-Arizona-85258/Clement-Anderson-aka-Clem-Anderson-dba-Dakota-Holdings-LLC-Rip-Off-Loan-and-Funding-Scam-1078673. 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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