ED Magedson – Founder
Mountain Atlantic Lending120 Lamped Loop New York, New York United States of America
You be the Judge.
Guy Parsons with Mountain Atlantic Lending claims to be a boutique investment bank, able to close the loan himself if he can't sell the loan on the market. He gave my client a LOI to fund the loan and charged $5,000 for underwriting.
As soon as he got the money he didn't answer the phone at first and then came the excuses. First a car wreck and then a heart attack. His references backed him up and then wanted to recruit me for their business. We gave him more time and then we wanted our money back.
His response was, "great news, I found a company to fund your deal for $2,500 upfront underwriting, $2,500 travel, and $50,000 if we wanted the funding before 6-8 months". More money out of pocket for services? We already gave him $5,000 for underwriting and now an additional $55,000. He was adamant that he had fullfilled his obligations to fund the deal. Yeah Right!!!!!
This report was posted on Ripoff Report on 05/05/2010 10:53 AM and is a permanent record located here: http://www.ripoffreport.com/reports/mountain-atlantic-lending/new-york-new-york-10314/mountain-atlantic-lending-lending-scam-new-york-new-york-600404. 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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