• Report: #516542
Complaint Review:

Athas Capital group

  • Submitted: Wed, October 28, 2009
  • Updated: Thu, January 14, 2010

  • Reported By: ripped off borrower — calabasas hills California USA
Athas Capital group
Internet United States of America

Athas Capital group Brian OShaugnessy Fake commercial mortgage lender Internet

*Consumer Suggestion: ATHAS IS FAKE


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Athas Capital is posing as a "REAL" commercial mortgage lender the truth is they are nothing but total rip off!!! They DO NOT HAVE THEIR own fund all the their money comes from rich individuals looking to invest in something other than the stock market. if you've dealt with them you'll know they are always pushing to collect their "processing fee" this actually how the company and the two or three loan officers that are working at this sham of a company survive!!!! ALL the loan officers earn 25% of the processing fee so when your wiring them $2,000-$ 6,000 your actually paying the commission of the AE's once you send this fee its just the beginning of the money they will be asking for once its all said and done they fund maybe 1 out 25 loans submitted and fee's paid!!! not a very good number huh? I'm just tone of the many borrowers that's been "RIPPED OFF" by this poser..Once you begin getting bleed dry by this place they will do anything and everything possible to make sure your loan does not fund from adding crazy conditions to making sure the appraisal you paid ($2500-$8000) for comes in so low your loan is not doable,even if you are able to get all of the outrageous conditions satisfied they will just ask for more conditions...if you have the balls to actually complain to the CEO Brian O he'll just flip out and tell you to never call them again is this how yo want to spend your hard earned money??? I think not!!!!! ATHAS CAPITAL IS A TOTAL RIP OFF!!!!

Agoura Hills Ca

This report was posted on Ripoff Report on 10/28/2009 08:46 PM and is a permanent record located here: http://www.ripoffreport.com/reports/athas-capital-group/internet/athas-capital-group-brian-oshaugnessy-fake-commercial-mortgage-lender-internet-516542. 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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Updates & Rebuttals

#1 Consumer Suggestion


AUTHOR: mtvfilms - (United States of America)

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
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#2 REBUTTAL Owner of company


AUTHOR: Athas Capital Group - (USA)

Dear "Roger" or should I say Kevin Tucker,

We all know, including the last borrower you defrauded, were fired due to misleading a borrower to collect an upfront fee.  After the borrower had complained to me, in which I listened with opened arms, I gave you the chance to come clean to tell me as a man if what the borrowers purported you said was in fact the truth.  You lied directly to me after having lied to our borrowers.  After we found proof of your deception and in turn proof of your lie to me you were fired for fraudulent inducement to one of our clients.  In addition we refunded the entirety of the processing fee to the borrower, like we often do, after spending a great amount of time on the loan file.  This was a loss to our company but we out of principal and to be responsible for your unforgivable actions refunded to the client none the less.  We did the honorable thing.  You on the other hand did not and it is truly sad that you, like most irreputable liars, seek refuge for your faults by turning the blame on someone else.

These actions of fake names, pretending to be a borrower, and trying to hurt my company with slander are rather sad and childish.

Please get a job.  I am sure you can use your time more productively.

I invite all of you to visit our customer testimonials and see the truth behind our company.  www.athascapital.com/Testimonials.html



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