ED Magedson – Founder
First Step FundingInternet USA
First Step Funding; Express Transfer & Holding; John Dolan; Larry & Michelle McDaniels WOW! This is the biggest RipOff EVER!!! Beverly Hills CA
Out of the blue, I was contacted by John Dolan of First Step Funding, who stated he had a customer who was interested in purchasing my timeshare. I didn't have my timeshare listed for sale anywhere, so this shot a red flag up right away. But I decided to listen to see if this was indeed legit. He said he would have the customer call me to negotiate the deal. Shortly thereafter I got a call from Larry McDaniels, who offered to pay $13,500 for my timeshare near Disney. The red flag here was that he stated that he and his wife were finally in a position to purchase a "luxury" property. It was an unusual phrase, so it stuck out. (Hopefully I am not giving the perps hints...)
Anyway, I agreed to the purchase since the buyers were paying all the closing costs and was sent a Purchase Agreement to sign. I'm a real estate broker so I could see that it looked legal. The one thing holding up the sale was the fact that I owed back maintenance fees so there was a hold on any transfer of my unit. Here is the clincher: I was told by John Dolan that I had to pay the outstanding fees up to date in order to have the sale go through. However, instead of sending the money to the resort, I was to send it to the Transfer and Holding company. Firstly, I couldn't understand why the unpaid maintenance fees could not be taken from the proceeds of the sale, and Secondly, I didn't like the fact that I was to send the money to the Transfer company, rather than to the resort directly.
I really, REALLY wanted this to be legit, however before sending several thousand dollars out I decided to do a few online searches, and am SO glad that I did. Thank you to all those who posted about your experiences. You proved to me that my suspicions were right and this was too good to be true. I did not send the money and I urge anyone dealing with these people to pull the plug immediately! These people are guilty of conspiracy to commit larceny and felony larceny and should be prosecuted.
This report was posted on Ripoff Report on 04/22/2014 08:13 AM and is a permanent record located here: http://www.ripoffreport.com/reports/first-step-funding/internet/first-step-funding-express-transfer-holding-john-dolan-larry-michelle-mcdaniels-wo-1140719. 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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