ED Magedson – Founder
Commercial Equity Partners1424 K Street NW, Suite 403 Washington,, Dist of Columbia USA
Commercial Equity Partners, FutureGen Capital, Lawrence Schmidt aka Lawrence St. James - President Predatory Investment Scammer & Fraud Master is a Wizard at what he does! Washington, District of Columbia
My account was opened with Commercial Equity Partners in 2008. I received my quarterly statements and regular correspondance from my account manager. Then one day as my account was getting ready to mature I began looking into future investments and I tried to reach out to my account manager...he was no where to be found. Instead I received an answer to my emails and call from Lawrence Schmidt. Lawrence told me he had purchased Commercial Equity Partners, he was handeling my accounts. That was May 2013. Since then I have been told my account was never set up properly, that he would "fix" it so I could get at my funds.
Once he located the money and the paperwork he then promised to send the money and the documents to a third party account manager to straighten things out. He sent an empty envelope. He then said he had stopped payment on the check...whcih he did not. Then he promised to wire the funds...but he never did.
The third party administrator is still waiting for the funds. That was a month ago. Finally, I put my foot down and set a deadline before contacting the authorities - last Friday. While sitting at my office I received a call. According to a "reliable source", Mr. Lawrence Schmidt (aka Lawrence St. James) President of FutureGen Capital and owner of Commercial Equity Partners closed his doors and is gone. He's not returning calls or emails, or texts or anything. It is said that he mailed his employees each a letter telling them they were out of a job...were there employees?
Right now - who knows? What I know is that for 14 months I have exhausted all avenues to get my IRA back. Mr. Schmidt - What goes around comes around, buddy and I will not rest until I either have my money back or you're in prison. You are a lying, theiving despicable scumbag that deserves everything that's coming your way.
This report was posted on Ripoff Report on 04/15/2014 08:37 PM and is a permanent record located here: http://www.ripoffreport.com/reports/commercial-equity-partners/washington-dist-of-columbia-20005/commercial-equity-partners-futuregen-capital-lawrence-schmidt-aka-lawrence-st-james-1139184. 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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