ED Magedson – Founder
Dave Proctor Took Investors Money - Sold Company- Has Refused To Pay Investors Back – and Hiding Funds in Porter Ranch, California Porter Ranch California
*General Comment: Dave Proctor is a rip off 100% Dave Proctor - Realtor in Porter Ranch, CA 818 422-3283 I worked in the office where Dave Proctor was the Owner/Investor when this all took place. I watched Dave Proctor completely destroy long term friendships with greed and thievery. I was there. I know all these facts to be true. His investors were people I looked up to and cared about deeply. When I heard that he had still not paid them back the money that they invested with him I knew that I had to warn others about him. DO NOT DO BUSINESS WITH Michael Rodgers - REALTOR! In May of 2003 Dave Proctor and several investors were chosen to open a Keller Williams Realty franchise in Northridge, California. He and a group of investors launched the company as Co-owners & Founders. They were called Core Group Members per the Keller Williams franchise model. Each investor put in $20,000.00 (Twenty Thousand Dollars) in return for a 5% ownership in the brokerage. All was going well until February of 2006 when Dave Proctor was passed over to be part of a nearby Keller Williams office in Granada Hills. Dave Proctor caused a big riff and nearly 60 agents left the Northridge office. Keller Williams is a profit sharing company and this left Northridge crippled and unable to stay open. Agents that left took nearly $250,000 in closing commissions from the Northridge office. Northridge investors complained to the corporate office and Dave Proctor was forced out of the company. Dave Proctor was stripped of his right to be part of a Keller Williams Realty Franchise and was forced to sell the Northridge office. Dave Proctor was to pay the original investors 5% of the sale price of $300,000. Dave Proctor has made only two payments of 1,600.00 to the investors since selling the business in late 2008. Payments are to be made every six months. He owes each investor at least $15,000.00 from the sale of the company. Dave Proctor gets paid every six months like clockwork but he has refused to pay his investors the monies that he promised to them in a legally binding contract. They trusted him. He was their friend. DAVE PROCTOR IS A THIEF!. Dave Proctor continues to travel the world and occasionally sell Real Estate for Pinnacle Estate Properties in Porter Ranch, Ca. but he will not pay his investors and has stolen their money and refuses to pay them back. Dave Proctor refuses to communicate with his investors. Dave Proctor cannot be trusted. Dave Proctor is a liar. Dave Proctor should not be trusted in any way, not by other Real Estate agents and definitely not by anyone thinking of buying or selling a house with him. He ripped off people who were his friends and business partners. Imagine what he would do to someone like a client who he barely knows. DO NOT TRUST Dave Proctor.
This report was posted on Ripoff Report on 12/05/2013 12:24 PM and is a permanent record located here: http://www.ripoffreport.com/r/Dave-Proctor/internet-Select-StateProvince-internet/Dave-Proctor-Took-Investors-Money-Sold-Company-Has-Refused-To-Pay-Investors-Back-a-1104608. 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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