ED Magedson – Founder
Arm Capital AdvisorsP.O. ox 644287 Vero Beach, Florida United States of America
BEWARE OF THIS MAN - HE HAS BEEN "ARRESTED" IN PALM BEACH AND BROWARD COUNTY FLORIDA FOR CRIMINAL ACTS AND SUED CIVIALLY FOR SCHEMES TO DEFRAUD!!!!
BRIAN MANTIS is an unscrupulous man who preys on people wanting to seek financing for business projects. He steals your $$$$$ Money to do so. He poses as a Managing Partner of a company called ARM CAPITAL ADVISORS, INC. located out of Vero Beach Florida with a post office box address. His so called company has been "defunct" and "inactive" since 2005 according to Sunbiz.org. He is introduced to prospects via a man named ANDREW (ANDY) PECK who is on the Board of Directors with a group known as Gold Coast Venture Capital Group located in Boca Raton, FL. Andy also is President of his own company called Financial Support Services located in Coral Springs Florida and he claims he writes business plans for $10,000. The scheme is that they both set meetings with their prey in which Mantis guarantees he will find business financing for projects through various sources that only he deals with. He says getting financing is a "slam dunk" and he has done this many times before with great success.
BEWARE OF THE SCENARIO:
Andrew (Andy) Peck introduces client to Brian Mantis and an initial meeting is set up
Andy and Brian tell the prospect that another business plan must be created by Andy and the loan amount must be increased substantially in order to get financing because the lending institutions he deals with only look at business plans which require financing of $750K or more.
BEWARE: Andy states he normally requires 10k upfront to create a new business plan which is mandatory to be done because the one the client currently has does not reflect the new loan amount. When asked about payment for his services, Andy goes on to state that because he has known Brian for many years he will take payment for the new business plan that he will write on the "back end" and get paid once the deal is funded.
A few subsequent meetings are arranged and a contract is presented by Brian Mantis in which he requires 1% of the loan amount up front to begin seeking financing and without it he will do nothing. The loan amount is always at leaset $750K.
He demands the check (if applicable) to made payable to Brian Mantis and not Arm Capital Advisors.
BEWARE: Once you give Mantis the check he will immediately go to YOUR bank and cash it as he DOES NOT even have a bank account. He then divides the funds 3 ways between himself, Andy Peck and another so called partner known as Charles Pope who is located in Florida too. I contacted Charles Pope and he indicated he does not know Andy Peck or Brian Mantis.
This report was posted on Ripoff Report on 09/17/2010 08:10 AM and is a permanent record located here: http://www.ripoffreport.com/reports/arm-capital-advisors/vero-beach-florida-32964/business-consultantsarm-capital-advisorsarm-capital-advisors-this-pre-9a276htm-641461. 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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