ED Magedson – Founder
five Point Capital9820 Towne Centre Drive San Diego, California USA
five Point Capital National Funding One Dollar Buyout Leases Turn Into Fair Market Value Leases at the End of the Lease Term San Diego California
My experience with Five Point Capital, now known as National Funding, has been the worst business to business experience I have had in my 30 years of working. My experience like many other complaints here is that we had a 1$ buyout lease, but at the end of the lease term it was magically a fair market value lease with an inflated value ont he assets. We are currently in negotiations with the firm, but we have since amassed so much information negative to any case they can make in court that I figure we will go that route since their lawyer is now stonewalling our lawyer.
I have statements from current and/or former employees of Five Point Capital/National Funding that state that they made changes to $1 Buyout leases and converted them to Fair Market Value leases. Sandra Otero, who does all the bidding for Dave Gilbert the CEO, will come across to you as a souless individual in my opinion. Don't waste your time with her and don't believe what she tells you. She withdrew $17,000 from our account without permission and told me ACH could not put the money back. If fact she could. She did so a week later after we applied pressure to the firm.
I recommend you look up the lawyers we are working with, Nick Yocca in Irvine, CA and Scott Nathan in Tustin, CA. They have experience dealing the the National Funding lawyer, Neal Salisian. I expect we will be going to court in San Diego. I suggest you do, too. Dave Gilbert, the FPC/NF CEO, does not want the bad PR of his lawsuits in his own backyard I suspect. That is probably the reason they file suit in Orange and LA counties. Right now they are trying to silence what I know in the settlement agreement. If you want to join in a lawsuit look up our lawyer Nicholas Yocca of the Yocca Law Firm in Irvine.
This report was posted on Ripoff Report on 10/21/2013 03:47 PM and is a permanent record located here: http://www.ripoffreport.com/reports/five-point-capital/san-diego-california-92121/five-point-capital-national-funding-one-dollar-buyout-leases-turn-into-fair-market-value-1093552. 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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