ED Magedson – Founder
direct capital corporationInternet United States of America
direct capital corporation violated the improper use of sic codes to fail to process loan after they stated would not be an issue. they provided no disclosures and obtained infromation following an intial inquiry illegal as no application was completed in any fashion merely a an inquiry. They intended to do loan using unregistered securitites, violated every state and federal law known concerning loan disclosure. They omitted a properly listed sic code and used a second also listed but not related to purpose of the loan. they then said could only do short term loans but then when i pointed out sic error on their part they use threats and refused all loans. They are a corrupt organization. i have since learned that their have been more than 87 complaints with the bbb in last 24 months but no action taken against them. i also knowthat that more than twice of this number have been dismissed and not listed. they have been sued every year for more reasons than have room to list yet the law enforcement has done nothing. if anyone else ran their business like this violating all the laws they have they would not onlybe out of business but in jail someone needs to stop this group. if you go to (((REDACTED))).com their are pages of people listed that have been defrauded thousands of dollars. i urge all to aid in the removeal of this illegal operating organization. their ar even former employees expressign the improper actions. Thery violated every usuary law in terms of fees, unethical fees and the list goes on and on
This report was posted on Ripoff Report on 01/28/2011 01:57 PM and is a permanent record located here: http://www.ripoffreport.com/reports/direct-capital-corporation/internet/direct-capital-corporation-illegal-lending-practices-non-disclosure-use-of-unregistere-688078. 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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