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Report: #296130

Complaint Review: Capital Depot LLC - Scottsdale Arizona

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  • Reported By: Sandia Park New Mexico
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  • Capital Depot LLC 7373 Scottsdale Rd B-169 Scottsdale, Arizona U.S.A.

Capital Depot LLC The worst of the Con artists Scottsdale Arizona

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Last year I was introduced to "Sandro", his sister "Val" and their associates who owned "Capital depot LLC" ( the office is now shut down and of course all phone numbers disconnected) They quickly befriended me and my 14 year old son even taking us into their home to eat fine foods and be entertained the whole time pretending they cared about us and our situation. At first i was thinking about relocating to Arizona because my jewelry business failed here in New Mexico and I thought maybe Arizona would prove to be a good place to 'start over" but with all debts and health problems i am having, a "move" was too much right now. So they said they could "help me" get back on my feet and even send my son to college if I "invest in real estate through them".....it actually took me almost a year, I talked with Sandro at least twice a week this whole time....FINALLY I closed on two houses through him and my Ex husband got involved because his prosthetic leg broke and it costs $20,000 for a new one and he doesn't have health insurance anymore,,,so of course Sandro promised him "help" as well.....Sandor and his associates guaranteed that the properties we were buying were currently rented out and that a 'kick back" at closing would be put in an account managed through Capital Depot LLC to pay the mortgages for one year in case the renters defaulted in anyway! But, that before that one year was up we would sell the homes and then make the money we needed to get back on our feet, and they would get 20% of the sales....sounded fair and wonderful to me! Well, two weeks ago I was checking my bank statement and I have a mortgage on it! I called my bank immediately and asked them how could I have a payment due when my mortgage management company was taking care of this? The bank said they bought the mortgage and I owe them a $2,500 payment! I call Sandro and ask him what is going on and he said when a mortgage is sold it can take a week or so for the mortgage payment to be forwarded to the new mortgage holder....once again I believe him, after all, this man is like a brother to me now! Well that was the last time we spoke, he disconnected his phones and seems to have fallen of the earth....yesterday (12/31/07) I found out...( I sent a real friend over to the houses) the three properties we purchased are empty, unfinished and unlivable or even rentable!!...to top it off I found out Sandro pocketed $65,000.00 from each property when we closed, that's $195,000!!!!! I still don't know if that is illegal or how he got the seller to agree to those terms??? Also I paid about $80,000 too much for each property according to the Realtor who was selling those type properties for a while( I just talked her yesterday as well).........Obviously I can't pay $5,000.00 in mortgages a month or finish the properties to sell them or try and rent them out.....the worst of this whole thing is it will force me into bankruptcy because I was living off a loan (due to my health problems) until these houses sold.. it took me 15 years to even get where I am credit wise and to own my home here in New Mexico.....yes I am a stupid foolish woman for trusting someone i thought was a friend and believing my son and I could have financial freedom investing in real estate........but why do we have to lose everything and these people can keep scamming people and ruining lives and never be held accountable? I'm to the point I don't know if I would want to kill him or myself! I pray no one else ever has to fall victim to these heartless devil!
As far as I know ( I can't afford a lawyer) there is no way out of this because I signed mortgage papers, that I don't even have all of because Sandro ordered us to send them back after we signed everything......yep, I even trusted there was a reason for that!

Taken2
Sandia Park, New Mexico
U.S.A.

This report was posted on Ripoff Report on 01/01/2008 03:14 PM and is a permanent record located here: https://www.ripoffreport.com/reports/capital-depot-llc/scottsdale-arizona-85253/capital-depot-llc-the-worst-of-the-con-artists-scottsdale-arizona-296130. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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