• Report: #453278

Complaint Review: John Benson For Mondiaen Capital, John Kosolcharoen For Premier Funding, USA

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  • Submitted: Tue, May 19, 2009
  • Updated: Thu, July 29, 2010

  • Reported By:Charlotte North Carolina
John Benson For Mondiaen Capital, John Kosolcharoen For Premier Funding, USA
Premier Funding USA, Inc. 620 Newport Center Drive #1100 Newport Beach, California U.S.A.

John Benson For Mondiaen Capital, John Kosolcharoen For Premier Funding, USA Elaborate Loan and Securities Fraud Orchestrators! Beware of these two and their "guarantees" Newport Beach California

*Author of original report: John Kosolcharoen Proving To Be A Very Trusted Business Partner

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On September 29, 2008 my group entered into a loan agreement and security agreement with Mr. John Kosolcharoen and his company, Premier Funding USA, Inc. (a California corporation). The general terms of that agreement were for my group to loan Mr. Kosolcharoen up to $2,000,000 USD so that he may enter into an investment strategy utilizing a Collateralized Mortgage Obligation (CMO) and the subsequent leveraging, or monetization, of that instrument in order to obtain above average returns. My group performed quickly by raising $1,688,000 through private investors Mr. Kosolcharoen, according to himself, personally provided an additional $312,000 to fulfill a $2,000,000 sum. In exchange for that loan, Mr. Kosolcharoen contractually agreed to return to our investor members a 100% return on investment, plus the equivalent in capital fees being paid through a third party. The particular CMO, known as CUSIP# 74922KAY1, was pledged in the agreement as collateral for the loan. Furthermore, as stated in the agreements, my group would be the recipient of monthly interest payments (approximately $54,000 per month) derived from the CMO if the original 30-day strategy did not work or was delayed. Though the original loan agreement states a 12 month term both parties executed a 30 day term addendum at the outset. Mr. Kosolcharoen and Premier Funding USA, Inc. have been in default of that agreement for over six months and have been notified as such by my group, as well as our legal counsel. Though there have been repeated attempts, so he claims, by Mr. Kosolcharoen to perform on the contract, not one dollar has been returned to the investors. It is our belief now that Mr. Kosolcharoen is participating in fraudulent and potential criminal activities either on his own, or as is more likely, with a Mr. John Benson of Mondiaen Capital (a Netherlands asset management company), a Phoenix, AZ resident.

Mr. Benson's role in this transaction, though not named in our loan agreement, is significant. He claims to be the owner of the KAY1 CMO, which Mr. Kosolcharoen has been attempting to monetize. It is his agreements with Mr. Kosolcharoen that were to enable Mr. Kosolcharoen's performance on the terms of the loan with my company. Mr. Kosolcharoen paid the money we loaned to Premier Funding USA, Inc., $1,688,000, to Mr. Benson in order to obtain all of the necessary rights to the CMO to enable him to employ the CMO strategy. Mr. Benson in turn used that money for, as he states, other investments and commitments. Additionally, Mr. Benson indicated that his company, Mondiaen Capital, is the recipient of the monthly interest coupon derived from the KAY1 CMO and that those monies would be transferred to Mr. Kosolcharoen and, in turn, to us as stipulated in the loan agreement. On several occasions, there have been written and verbal assurances made by both men that the monthly coupons due to my group were being deliveredeven as far as stating that the wire was being sent right now, or within the hour. We have yet to receive any money from either party and the excuses are far too many and way too outlandish to go into in this context.

Because of the myriad excuses, delays and misrepresentations, it is our belief that Mr. Kosolcharoen and Mr. Benson are co-orchestrators of what may be an even more elaborate scheme that may involve, but may not be limited to money laundering, Ponzi activity, securities fraud, internet fraud, tax fraud and loan fraud. We have filed or are in the process of filing formal complaints with the FBI, Securities and Exchange Commission, California Attorney General's Office, Arizona Attorney General's Office, California Mortgage Brokers Association, California Department of Real Estate, Better Business Bureau and the National White Collar Crime Center. We are also notifying the necessary authorities and regulatory agencies in The Netherlands and London.

Qcreinvest
Charlotte, North Carolina
U.S.A.

This report was posted on Ripoff Report on 05/19/2009 09:13 AM and is a permanent record located here: http://www.ripoffreport.com/r/John-Benson-For-Mondiaen-Capital-John-Kosolcharoen-For-Premier-Funding-USA/Newport-Beach-California-92660/John-Benson-For-Mondiaen-Capital-John-Kosolcharoen-For-Premier-Funding-USA-Elaborate-Loa-453278. 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:
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Updates & Rebuttals

#1 Author of original report

John Kosolcharoen Proving To Be A Very Trusted Business Partner

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

The original report written herein was submitted by the author of this rebuttal.  It was completed at a time when circumstantial evidence seemed to be pointing in several directions as to why the aforementioned transaction had gone awry. 

Since then, it has become quite evident that the true and single perpetrator of this scheme is Mr. John Benson.  His name and actions have come up in conversation with other investment groups...if you ever come across this scum, RUN straight to the police, sheriff and/or local FBI branch office. 

To be very clear, though, John Kosolcharoen has proven to be both a victim of Mr. Benson's illegal and fraudulent schemes, as well as, a gentleman that is working exceptionally hard to help our investment group.  John has and is doing whatever he can to make our situation whole, again.  The sound investment opportunities he now delivers are done so through exceptional due diligence and with very knowledgable, trusted partners.  I have no doubt that Mr. Kosolcharoen will make good on his two promises to our group...collect and repay the outlay of capital with a small return for our troubles, and to see to it that John Benson is put behind bars for a very long time.

If you are fortunate enough to have an opportunity to work with or invest with Mr. Kosolcharoen, I strongly urge you to do so.   

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