• Report: #920387
Complaint Review:

Five Point Capital, Inc.

  • Submitted: Tue, July 31, 2012
  • Updated: Tue, July 31, 2012

  • Reported By: jordan — Rockville Minnesota United States of America
Five Point Capital, Inc.
10525 Vista Sorrento Parkway #300 San Diego, California United States of America

Five Point Capital, Inc. The verbal pitch off $1 payoff vs the written contract San Diego , California

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It's interesting how a business can use such deceptive practices to land a leasing client and nothing gets done to stop it. I'm referring to the $1 payoff promise that 5 Point Capital account executives verbally make to their clients is the hook to get the trusting customer to sign the paperwork. I just read a dozen letters which all stated the same thing. The scam goes back to 2007 and the trusting customers were all promised to be able to purchase the equipment they leased for $1 per unit at the end of the long and costly lease period only to find out the lease period was going to continue for another year and there was no $1 payoff written into the agreement anywhere.

I fell for this scam as well. Glad to see you all emailed your account of this fraud. It will help to prove in court their deceptive business practice. Hopefully there will be a nice refund sent out to all the former clients.

I anticipate that there will be a class action lawsuit and I may join it if I don't sue them on my own.

This report was posted on Ripoff Report on 07/31/2012 01:52 PM and is a permanent record located here: http://www.ripoffreport.com/reports/five-point-capital-inc/san-diego-california-92121/five-point-capital-inc-the-verbal-pitch-off-1-payoff-vs-the-written-contract-san-diego-920387. 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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