• Report: #1139184

Complaint Review: Commercial Equity Partners

  • Submitted: Tue, April 15, 2014
  • Updated: Wed, April 23, 2014

  • Reported By: Another One of Lawrence's Victims — Long Beach Washington
Commercial Equity Partners
1424 K Street NW, Suite 403 Washington,, Dist of Columbia USA

Commercial Equity Partners, FutureGen Capital, Lawrence Schmidt aka Lawrence St. James - President Predatory Investment Scammer & Fraud Master is a Wizard at what he does! Washington, District of Columbia

*General Comment: Another Victim of Commercial Equity Partners

*Author of original report: More Details

*General Comment: We should stay together as investors

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My account was opened with Commercial Equity Partners in 2008. I received my quarterly statements and regular correspondance from my account manager. Then one day as my account was getting ready to mature I began looking into future investments and I tried to reach out to my account manager...he was no where to be found. Instead I received an answer to my emails and call from Lawrence Schmidt. Lawrence told me he had purchased Commercial Equity Partners, he was handeling my accounts. That was May 2013. Since then I have been told my account was never set up properly, that he would "fix" it so I could get at my funds.

Once he located the money and the paperwork he then promised to send the money and the documents to a third party account manager to straighten things out. He sent an empty envelope. He then said he had stopped payment on the check...whcih he did not. Then he promised to wire the funds...but he never did.

The third party administrator is still waiting for the funds. That was a month ago. Finally, I put my foot down and set a deadline before contacting the authorities - last Friday. While sitting at my office I received a call. According to a "reliable source",  Mr. Lawrence Schmidt (aka Lawrence St. James) President of FutureGen Capital and owner of Commercial Equity Partners closed his doors and is gone. He's not returning calls or emails, or texts or anything. It is said that he mailed his employees each a letter telling them they were out of a job...were there employees?

Right now - who knows? What I know is that for 14 months I have exhausted all avenues to get my IRA back. Mr. Schmidt - What goes around comes around, buddy and I will not rest until I either have my money back or you're in prison. You are a lying, theiving despicable scumbag that deserves everything that's coming your way.


This report was posted on Ripoff Report on 04/15/2014 08:37 PM and is a permanent record located here: http://www.ripoffreport.com/r/Commercial-Equity-Partners/Washington-Dist-of-Columbia-20005-/Commercial-Equity-Partners-FutureGen-Capital-Lawrence-Schmidt-aka-Lawrence-St-James--1139184. 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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1Author 2Consumer 0Employee/Owner
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#1 General Comment

Another Victim of Commercial Equity Partners

AUTHOR: Rich - ()

My account is in it's last month and when I went to contact them i got disconnected numbers.  Like the others I received statements and interest checks all along the way - now i'm getting a real bad feeling.  If there is any help or guidance or anyone who can share or suggest what can/should be done please contact me at rich07840@comcast.net - thanks

 

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#2 Author of original report

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AUTHOR: Another One of Lawrence's Victims - ()

With the help of many people, I have now enacted assistance from the IRS Criminal Investigation Department, the FBI, Metro DC PD and the FTC. All victims (I hate that word) of Commercial Equity Partners, FutureGen Capital, Lawrence Schmidt aka Lawrence St. James - please take steps to contact these agencies and do the same.

Only with applied pressure from all investors will we amass the numbers and volumn in dollars that make agencies sit up and take notice. I will join others to see this scam and all of its perpetrators brougt to justice!!

Lastly; there are multiple addresses used by the company and multiple "investors" like: Beware of 330 S Wells St., Chicago, IL 60606 (312)583-1550, and Mike Spirovski, and Tim Debronsky and Mitch Murphy and Richard Regal; and another supposed office location is 1776 I st NW Suite 900, Washington DC 20006

 

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#3 General Comment

We should stay together as investors

AUTHOR: ebvictim - ()

I am one of the victims too, big time.....sadly. I have started working with my attorney anod some other authorities. If any of the other investors want to get together and file a suit please contact me. Crystaworld@hotmail.com This is a long journey and I could't sleep for a week already. 

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