Lili Barnes and Yvonne Runyan ATHAS CAPITAL GROUP A BIG SCAM ARTIST THE ONLY THING THEY ARE AFTER IS THE FEE'S. THEY HAVE NO MONEY TO LEND. Calabasas Hills, California

Dear Mr. Richard R. Robbins, Jr of Real Estate Loan Network in Palmdale, CA (DRE #00961398), It is important to note one specific and massive flaw to your statement you have posted in an effort to hurt an honest Company like Athas Capital Group, Inc(ACG). But first it should be noted that ACG has not one complaint with the Department of Corporations(DOC) besides Mr. Albert Agadjanians complainant (which we are currently addressing) since the company was incorporated and registered with the DOC over 2 years ago. You should however know, as the intellectual and Mortgage Broker professional you are that this was a loan on a Commercial Property in Ohio. The obvious fact is that the Department of Financial Institutions of Ohio does not regulate commercial real estate loan transactions but only licensing for residential lending. Additionally, you must know that a license is not required, like the vast majority of the States, to broker or lend in that State on such collateral. However let us say this was a requirement. Then you of course would be in violation of the very same as you too are not licensed or registered with the Department of Financial Institutions of Ohio and you were the entity and individual who took the application, originated the loan, and dealt directly with the client. Should I inform the DRE of CA for originating a loan in a state you are not licensed in and notify the Ohio regulatory agency you reference? Of course not. But let us move on as your statements are slander because much of what you state is not factual. Athas Capital did collect a Non Refundable (and clearly disclosed as such) 1995.00 fee when Agadjanian executed his Agreement with ACG in late September of 2009. It was not until late November that Agadjanian declined our counter offer which happened after substantive information affected the material risk of the loan. ACG did have a serious issue with a major functional obsolescence with the building of which Agadjanian NEVER disclosed initially. It was not until the appraisal came in that we found that a vast majority of the rentable Square Footage of the structure was below ground with tiny pie shaped windows? You blame this on ACG? Is ACG, after Two months of working on the file, supposed to refund an agreed upon non refundable fee after discovering a massive deficiency on the property that neither you nor your client disclosed? It is for this very type of reason on why the fee is collected because brokers and borrowers lie and do not disclose the reality. ACG ends up wasting several months working on a file that was either fraud or changed so drastically that the dynamics were re-formed and no longer made sense to the borrower. At this point the agreed upon non refundable fee is a loss to the company. Other items such as high vacancy rates in the area the appraiser mentioned were also not complimentary to the initial deal when we showed interest. Lets also state that yes the borrower was required to pay for an appraisal but you are a mortgage professional, are you trying to tell me that this is not customary? Do you not make all of your clients pay for an appraisal or is the lender supposed to lend money to an individual without establishing an educated opinion of value from a disinterested third party? We of course did not fund the loan at the same terms as the property was completely different than presented and because of the major deficiency of the property we of course were no longer willing to lend the same loan amount. Not only did the appraised value come in less than your clients projection but ACG made a further cut on the value due to the economic and functional obsolescence not addressed by the appraiser. So please do not make foolish statements in an effort to spin the reality to the public and try to fool the public that we in some way had preconceived notions to induce this. Your statements have no backing and honestly make you look rather unprofessional and in some portions clueless to basic regulations. However we did not decline the loan and actually provided an offer at other terms to provide a solution nonetheless. It is your client that has declined! It should also be noted that ACG has publicly offered your client that if he could provide us proof(that we could independently verify in several ways) of funding at the exact same terms as were on ACGs initial LOI, not only a refund of the processing fee of 1,995.00 but additionally we would pay him 5,000.00. Not yet has he provided such proof and thus proof that ACG is not unreasonable in the counter offer due to the extreme deficiencies of the collateral as apparently still , in late January of the next year neither you nor your client has received what they wanted. Probably due to the very same reasons on why ACG countered. It should also be very clear that ACG is in no way in violation of any law, that the fee that was collected is in no violation of any Business or Professional code as we are discussing a transaction of commercial real estate for business purposes. Again please be very careful with your accusations Richard as Slander such as this and Defamation of character like this is not taken likely by ACG nor its Legal Counsel. My Name is Kevin OShaughnessy, the COO of Athas Capital Group. You can contact me at the number below should any of you have any questions. 877-877-1477 x777

I am the loan broker for Mr. Albert Agadjanian (see the above referenced File Number). I had placed a real estate loan on behalf Mr. Agadjanian with Athas Capital Group. Athas Capital Group is licensed by/through The California Department of Corporations. The loan requested was for an office building located in the State of Ohio.
I have checked with the Department of Financial Institutions in Ohio, and confirmed that Athas Capital Group does not hold any license that would allow/permit them to act as a direct lender in the State of Ohio.
Athas Capital had collected a non-refundable underwriting fee of $1,995.00, from Mr. Agadjanian, for a loan that Athas Capital had issued a Letter-of-Interest on. In addition to the $1,995.00 underwriting fee, Mr. Agadjanian was required to pay for an appraisal, from a Ohio based real estate appraisal company that was selected by Athas Capital.  
When Athas Capital failed to fund the loan, as outlined in the Letter-of-Interest, even after all the terms and conditions, as set forth in the Letter-of-Interest, had been met, Mr. Agadjanian had asked Athas Capital to refund his $1,995.00, and appraisal fee. Athas Capital had refused to refund the money, and made up an excuse as to why they would not fund the loan, and would only consider funding an amount that was substantially less  then the 60% stated in the Letter-of-Interest.

We are asking the Department of Corporations to step in and protect the rights of Mr. Agadjanian, who is a California resident, and require Athas Capital Group to refund the monies that were paid to them in good faith by Mr. Agadjanian.  
The basis for this request is, Athas Capital collected a fee for a service which they were not licensed to perform in the State of Ohio. Athas Capital was aware when they collected the fee/monies from Mr. Agadjanian that they were not licensed in the State of Ohio to act as a lender. Therefore, Athas collected monies, in advance, for a service that they were not licensed to perform in the State of Ohio, which was wrong.
I hope that you take this matter into consideration, and bring it to a fair and equitable conclusion, which we believe would be nothing less then Athas Capital Group being required to refund the money paid by Mr. Agadjanian. If you have any questions you can reach me at the numbers listed above.


Please call and complaint about this to department of corporations at 213 5766203 attn Gary Suzuki

Yet again Carol attempts to slant the reality of the transaction.  I, Kevin O'Shaughnessy., am not the CEO but that is irrelevant.

Carol is a liar and I invite all to see our supporting evidence of this at http:www.athascapital.com/LIAR.html

We are again a lender.  See our website www.atahascapital.com - We fund loans under ACG and our Fund.  We do not fund all deals in house and in that case do fund with outside capital partners.  However the majority of our fundings are indeed as a DIRECT LENDER.  We are not registered with BBB - IF BBB has labeled us a broker that is wrong and based off their own assumptions.  We are registered and Licensed as a Certified Financial Lender.

We have nothing to hide and invite all to openly visit our website to see the reality of this specific transaction that Carol misrepresented to our firm as well as all of the deals we have closed and true client testimonials.

She still fails to prove anything and what she states is in fact not the case.  For the sake of never ending discourse Athas Capital hereby refrains from any additional rebuttals and leaves the public to make their own assumptions and form their own opinions after looking at the LIAR page we have created and visiting our website to see all of the loans we have indeed funded and our client testimonials.

Nov. 4, 2009

Athas Capital Group is trying to find reasons to justify their fraudulent activities that they practice in their company. First I never lied to them about anything, Athas Capital Group was told that my brother purchased a property in PA, the mortgage he was given was a interest only mortgage by the bank and the mortgage became due in the peak of the lending crises and I was not able to get a loan as planned to take over the property because I had interest in the property I had invested a lot of money in the property for repairs hoping my brother would refinance the property and pay me back my money I had loan to him. Athas was told by century21 and the broker (Conner Affiliates) that my name was added to the deed August, 2009 for this very reason, yet Athas Capital Group is saying that I defrauded and misrepresentation of my application for the loan. Again they lied, this company continue to find rediculous excuses for their RIP-OFF activities. I wrote a letter to Kevin O'Shaughnnessy,Lilli Barnes and Yvonne Runyan I received no respond to the situation. My first respond from the CEO kevin O'Shaughnessy, Nov. 4, 2009 telling me he is going to file a lawsuit for defamation of character, slander, recuperation of ACG officers. Athas Capital Groups ARE LIARS, SCAM, RIP-OFF, Fraudulent and misrepresented themselves as Lenders when they are registered with the Calabasas Hills, BBB as Broker. I WILL NOT STOP PUTTING THIS COMPANY NAME OUT THEIR UNTIL I AM completely compensated. CG.

First and foremost provided is a link to this specific case that provides supporting evidence to the below rebuttal and to prove that in fact Carol Gregory is a borrower who defrauded our firm, lied, and when we discovered her lies has taken it upon herself to paint an image of herself as the victim.  In this case Athas Capital(herein after "ACG") was in fact lied to by Carol Gregory and ACG's counsel will be sending her and her attorney a formal Cease And Desist letter for her public defamation and slander towards ACG.  Not only will ACG summarize what really transpired but in addition will offer a link for all to view to look through ACG's documents proving her lies.  Unlike Carol simply spouting slanderous accusations ACG will attempt to show the public that in fact her statements she pruports are false. In addition, two other links have been provided to show ACG's recent fundings and real customer testimonials.
Case rebuttal Link: http://www.athascapital.com/LIAR.html
Recently Closed Loan - http://www.athascapital.com/Closed.html
Cklient Testiomonials: http://www.athascapital.com/Tesimonials.html
Carol Gregory:1400 Point Breeze Ave, Philadelphia, PA 19146
Carol's broker who submitted the file to us has sent us an email apologizing for all of the undisclosed issues with her loan file even stating that he expressed to Carol that this is the reason why commercial lenders collect upfron fees because often time borrowers lie.  To Quote the broker: "I apologize for springing this on you at this point in the deal but I was not privey to the information myself. As I kept diggng, I found this all out.I explained to Carol that this is why hard money lenders charge upfront fees because sometimes people like her don;t know the truth, don;t know how to explain it, or just flat out lie and that can ruin deals sometimes as I'm sure we both know"
What the broker is referring to is that the deal was submitted as a refinance, in which Carol bought the property in 2004.  What was discovered through trying to establish loan payoff and mortgage history from her current lender is that she did not in fact purchase the property(she quit claimed on in 8/2009), but it was her brother who bought the property and was the individual on the promissory note.  Her brother sent us a notarized certification stating this and that he was simply acting as a Straw Buyer.  A straw buyer is a fake buyer that offers their credit and or income to help the real buyer quailify.  This is FRAUD.  In addition once ACG established that Carol was in fact not the original owner and buyer ACG still attempted to structure the deal by showing vested interest in the property by establishing pay history.  We were told by Carol and her Attorney that she has been making all of the payments.  We asked for canceled checks to establish this.  Carol's attorney said they could not furnish because Carol makres cash payments at a teller's window and were assured she had been making them as agreed and on time.   We sourced the payoff and verification of payment history and low and behold Carol had yet again lied and misrepresented information to us as the demand indicated nearly 9,000.00 in back interest owed to the current bank/lienholder.  This deficiency equates to 272 days of interest and that the last payment made on the mortgage was 1/1/09 whichh was actually for 10/2008 payment.
So not only had Carol lied about her ownership, when she bought the property, exposed her brother as a straw/fake buyer who was now in bankruptcy, but also lied about her payment perfromance.  Clearly she was not making payments if over 272 days down on the mortgage with last payment 1/1/09 that posted to 10/1/08 payment. 
None of this was disclosed to ACG as Carol falsely reports.  If we knew that the property was in foreclosure, that she did not acquire the property as she represented,  and that she was so grossly delinquent on the mortgage  ACG would have never accepted the deal.
It is people like Carol Gregory that think they can abuse the sytem, lie to lenders, and defraud fine companies like ACG and when their fraud is discovered publicly furthur lie, slander and defame companies that have done nothing wrong.  The 1995 ACG collected was never refundable as clearly agreed to, it is a fee for our hard work, time, energy, processing, and packaging of her loan file.  And it will certainly not be refunded after she submitted a loan that was massively misrepresented and essentially fraud.  It  should be ACG that is filing a complaint and reporting Carol to governmental agencies for her fraud and deceit.  ACG has not harmed in any way and done nothing wrong.  Carol is taking the opportunity of this public forum to defame and slander ACG and shockingly enough doing so when she knows we have proof of her fraud and misrepresentation - and thus why we have posted a link so that all can see the reality and proof.
ACG is not providing a rebuttal with no substance but a rebuttal with concrete proof and substance for all to see that we have done nothing wrong.  She states that we did not even try to do the deal and that the deal was off as soon as we received the money.  AGAIN false!  It took a while to find all of this out and in addition we certainly did try to structure her deal even after we found out the deal was completely different than represented.  She did not even buy the property or even own it, and that by virtue of a transfer deed she vested on not until late 2008!  Lets not forget that she said her payments were made on time yet she was grossly delinquent and in default on her current mortgage.
On another note ACG is in fact a lender. Not all loans can ACG fund and in some cases we do fund them with outside capital partners.  This is fully disclosed to all of our clients and we hide nothing as we have done nothing wrong.
It is very frustrating to have to defend ACG let alone have to read such detrimental language  that is nothing but defamatory and slanderous.  That is why it is important that who ever reads this follows the provided links so that the public knows of Carol's flagrant misrepresentation and that ACG is honest and reputable.  ACG is at no fault here but still needs to openly provide rebuttal to Carol Gregory's harsh and false attacks on ACG. 
Carol is certainly not the victim but rather her current lienholder in which she defrauded as well by having her brother as a straw/false borrower(now in foreclosure).  ACG is as well the victim here for doing everything we could, after being lied to and uncovering the truth to make the deal work and after we declined the loan having to read bruttal words and lies like hers on a public forum.
Thank you for your time.