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Report: #952779

Complaint Review: Peabody Chase Consulting - Hauppauge New York

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  • Reported By: Jim B — Jersey City New Jersey USA
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  • Peabody Chase Consulting 300 Rabro Drive Hauppauge, New York United States of America

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Non-payment of commissions

I started working with Peabody Chase Consulting (PC) first in their marketing division and later in the capacity of an Independent Funding Consultant. I was to find businesses and individuals in need of financing or capital. There was to be more involvement in the actual funding process but due to the serious lack of training and the partner, Rod Odem just moving ahead on deals without me this never developed

For the larger deals and projects, of which I was finding, PC charges an upfront fee. This made it much more difficult to find such deals because the businesses either didn't have the money for the fees, were against such fees on principle, or were aware of the many scams were fees were asked but services never delivered. There were some incredible deals, some including new technologies that could have changed the way we live. The technologies were already proven, They just needed the capital to bring them to market. I couldn't even bring many of these to PC because so much had been stated about how it costs money to do these deals. The businesses just couldn't or wouldn't pay those fees. Incredible returns, and even small portions of ownership in these technologies that could have easily made us rich were lost or had to be passed on. It shows an extreme shortsightedness. The company seems to work somewhat better with smaller deals.

Of the deals I was responsible for I was mostly paid late or in the last instance, not paid at all. It was our agreement that I was to get a portion of the upfront fee, a generous portion of the commissions collected from the company upon funding and, if a portion of the company was taken in the deal, I was to get half of that.

I went for over a month of promises and excuses, some of them extremely implausible  as to why I hadn't been paid yet. Somehow, along the way I'm sure the Managing Partner paid his bills and perhaps his other agents and employees. There is no excuse why he couldn't pay me. Conditions turned to conflict between us. Eventually, we negotiated an agreement between us to resolve the situation. It's been almost weeks and he still hasn't even signed the agreement we spent an entire day negotiating. It's now about 2-1/2 months and I've still not been paid. I got promise after promise and "AT BEST," excuses. I have evidence of the facts that PC has been promising to pay me, some of the extremely implausible excuses and more.

If you're considering doing business or working with Peabody Chase Consulting, if this is the way they treat the people they work with, who bring them the actual projects and deals, how might they perform in their dealings with you? If you're considering working with or for Peabody Chase the opportunity sounds very good but get every detail in writing in such a format that it would be enforceable in a court of law.

This report was posted on Ripoff Report on 10/09/2012 10:04 AM and is a permanent record located here: https://www.ripoffreport.com/reports/peabody-chase-consulting/hauppauge-new-york-11788/peabody-chase-consulting-roderick-odem-get-everything-in-writing-hauppauge-new-york-952779. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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Updates & Rebuttals

REBUTTALS & REPLIES:
6Author
2Consumer
2Employee/Owner

#10 Author of original report

Furthermore

AUTHOR: Jim B - ()

POSTED: Thursday, July 31, 2014

I see that RO Report did not post my last rebuttal so I'll try again.

PC can say and claim anything they want.  I have every single email between us since I started with them.  There were a flurry of several emails when we tried to resolve this situation.  Among them was an email where it was admitted I was owed the money.

Again, there were only two conference calls I missed and only because I was never informed of the times.  Rod missed several where he was informed of the time.

As far as closing deals, it was my job to bring them in since they never trained me how to work a deal.  Go to Glassdoor.com and see other complaints about training.  I did bring the deals in and get them to sign w/ PC.  PC never got them funded. 

Finally, again, if I'm lying he can sue me.  He, however, won't.  Not with the emails I have and not with the countersuit it would open him up to. 

So from here, believe who you want.

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#9 Author of original report

So he says

AUTHOR: Jim B - ()

POSTED: Saturday, July 26, 2014

He can say anything he wants.  Again, I have emails proving my claims.  There was an exchange of several emails between us trying resolve the issue.  Among them was one admitting he owed me the money.  I still have "all" the emails.  He can claim anything, say anything he wants.  I have the proof.  Again, If I'm lying, why didn't he and why doesn't he sue me? I'd welcome it.  Then all this would be in the court records.

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#8 General Comment

The Truth

AUTHOR: businessguy33 - ()

POSTED: Thursday, July 24, 2014

Rod is a normal guy who is trying to make a living funding real business individuals, pay no mind to the comment above saying he is a bad guy, most people present business ideas that have no chance of getting funded this is why they are mad when things do not work out. Upfront fees are charged because firms have to use there own money to preform best effort capital raises they lower there risks by charging upfront fees. Use your own judgment but i dont think in anyway shape or form this firm is out there to defraud you. 

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#7 General Comment

ROD ODOM

AUTHOR: Wallstreet554 - ()

POSTED: Thursday, July 24, 2014

Rod Odom is a liar and a theif , he charges upfront fees just to defraud the average business man who is looking for more capital. He is nothing but a manipulator and a hardcore criminal. He has stolen more money then the worst bank robbers. I urge you not to do business with this firm they have nothing to offer you , nothing you do will come out fruitfull. stop making guys like this peice of trash wealthy he does not care about you our your business, he will never fund you. He uses the chase name to try to insure his customers that he is legitimate but hes not and he has no affilaition with chase bank. He is also a sick character i have heard stories about him that would sicken even a convicted felon . watch out for this burglar he will robb you blind. BEWARE

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#6 Author of original report

Correction

AUTHOR: Jim B - (USA)

POSTED: Tuesday, October 23, 2012

I must correct something I wrote before.  I rebutted how Rod said things ended but my version wasn't completely accurate either.  When I confronted him about not paying me then he wanted to end our working relationship.  I didn't want to be out of a job and thought if he just paid things could be worked out but after that confrontation, he wanted things completely over.

As for missing conference calls, I only missed those that I wasn't informed of the time.  On the other hand, Rod missed some he was informed of the time.  I have emails informing him of the date and time as well as emails asking what happened when he missed the calls.  Interesting he should accuse me of things he's guilty of, especially when I didn't delete any of our emails.  I've got every email since I started my association with him.

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#5 Author of original report

Again he makes it up as he goes along

AUTHOR: Jim B - (USA)

POSTED: Thursday, October 18, 2012

Then why do I have an email stating he owes me money?  Why do I have several emails with his promise to pay me.  He misrepresents our deal.  It was I get paid commissions out of the upfront fees and the out of the funding from closing of the deal.  Why else given my financial situation, which he was well aware of, would he owe me money?  Would I have been able to loan him anything?  Would he need a loan from me?

It's true that I would not meet with clients because of my dental situation and Rod was well aware of that and agreed that I should not meet clients.  Now he uses that as a weapon because he only wishes to embarrass and discredit me.  Even knowing of that, he still said I would earn certain amounts on closing of deals.    The point is I can prove the different deal I had from other reps from the emails and he didn't pay, only made promises and excuses which went on for months.  Why would I continue to work and look for deals to bring in if I'm not getting paid?  That rep still hasn't closed the deal?  What's taking so long?

As for missing conference calls, of course you're going to miss them if you're invited but he forgets to tell you when they are.  There were only two of those.  I was in on every other conference call I was invited to.

There were bouts of insomnia but I used those to work late nights into the morning hours finding deals, searching the internet.  Again, something that can be proven via my emails to those clients, the dates and times on them.  I guess I might not have been the only one with insomnia with the responses I got late and night soon after sending inquiries about their projects, again via email.  60-70 hour work weeks were not unusual for me. I sometimes may not have worked mornings but I worked.

That being said, I never missed a conference or a call except for those two times he didn't tell me the times.  I never missed a call with my own prospects or clients.  I challenge him to prove otherwise.  Why else wouldn't he be suing me for damaging his reputation by name if I were lying?  It's liable.  The reason is the truth is a defense against liable claims and then I could file a counter suit.  I have the truth on my side, can prove it and he knows it.

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#4 REBUTTAL Owner of company

You never closed a Deal Never even worked on a file

AUTHOR: Rod Odom - (United States of America)

POSTED: Friday, October 12, 2012

 The deal you are referring to is being closed out by one of our other reps. That reps has traveled to the home state of the client twice and has two more visits with our investor and client.  You never lifted a finger never picked up the phone yet keep demanding funds for a deal that has not closed.  As soon as you received an advance for the first deal you stopped working on it. 

 When closing deals there are expenses you constantly made excuses as to why you could not be of better service to the deals you bought in. You didnt tell anyone about your inability to work(even though you total freedom of your hours) your fear of meeting with clients because of your dental work issues, the reason why you missed several conference calls because of your insomnia the list goes on. I will not let you try to extort money from PC with your lies.
Ask the clients you left hanging how they are making out with PC? Did you ever bother to find out.... I'm sure you haven't     Because you are the worst kind of rep the one who only cares about the money. I learned a long time ago to give our clients the best we have to offer and the rest will take care of itself. 

As person who tried to help you out when you seemingly had no where to turn to I'm happy that your true character was displayed before it would do any harm to our clients.
Good luck I really wish you the best. This will be my final comment..

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#3 Author of original report

Oh how inaccurate a response

AUTHOR: Jim B - (USA)

POSTED: Tuesday, October 09, 2012

For the first 3 months I was marketing ZNZ which I signed up for through Peabody Chase.  During those 3 months I did nothing regarding funding activities.  The following two months I worked on funding.  I refer you to the initial post in this thread regarding the problems finding clients because of upfront fees.  Yet I still did find clients.  Never followed up?  Rod would take the deals and run with them.  I was left behind. 

I asked to be trained so I could be more involved and learn the whole process.  Go to glassdoor.com, a site where employees review employers and you'll find almost every other review includes complaints about training.  The last month, why work to find deals when I'm not getting paid?  So while my tenure with Peabody Chase was technically 6 months, I only actually worked on finding deals for 2 months and during that time I did bring in deals that Rod liked. 

As for the arrangements we made, I have numerous emails between Rod Odem and myself discussing our dealings and him agreeing to pay me, his excuses and more.  It disproves his claims about our arrangement. 

Yes, money was sent as advances on money earned from ZNZ.  Never any more than that and only to pay utilities. One exception, an actual loan on his part to pay utilities.  Never anything more for food.

He offered to introduce me to another person he uses to help with my foreclosure.  Never his own services and I would have had to pay for that.  If I'm not being paid my commissions, again the emails substantiate my version of our arrangement, how could I pay this person?

The emails also substantiate it was not his decision to part ways. 

So many lies by Rod that I can prove.  What's more, now he's guilty of libel.  It's obvious his sole purpose in these personal revelations about me are to destroy my credibility and reputation.  Even if true it is still defamatory and libel.  Yes, it's true I had financial problems.  What does it say about a person who refuse to pay what's due to someone he knows to be in such dire straights?  Rod has only harmed his own reputation and now I begin my search to find legal representation in this matter.

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#2 Author of original report

It wasn't an advance

AUTHOR: Jim B - (USA)

POSTED: Tuesday, October 09, 2012

I expected Rod to make this claim.  I dare him to sue me for this post.  I have numerous emails between us discussing this matter that substantiate that this was to be payment on an upfront fee including our negotiated agreement that he never signed.  Go ahead, sue me.  I'm going to love the counter suit and the much much more money that would be awarded by the judge.  And it would force you to pay on the commission on funding too.

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#1 REBUTTAL Owner of company

Employee Never closed a deal

AUTHOR: Rod Odom - (United States of America)

POSTED: Tuesday, October 09, 2012

 THis is my reps-one to complaint filed by an employee. The employee claims that he was promised payments for deals that did not close.

  When the above complainant signed on with Peabody Chase there was never such agreement we dont pay commissions on deals that dont close. In the case of this employees, he was given an advance on a deal the he bought in. The advance was given in to help the employee who's financial situation was in dire straits. The employee only produced two deals in six months and never closed or followed up with any of the deals. The employee insisted on getting another advance from his second deal. When he was told he would no be given an advance he threatened to post derogatory comments about myself and PC.

There were several occasions during this employees tenure that I personal sent money to him to keep his ullties on to get food and even offered the services of my contacts to help him get his proerty out of foreclusre.

Seems like the more I tried to help this employee the more he demanded. Finally we had to make a decision to part ways. Even though he has not closed a deal and had a charge back on deal that didn't close We never tried to pursue this issue with this employee because of his already precarious situation. I would be more than happy to arbitrate this issue.

   Peabody Chase have never held out on any commission from any employee. ever. On all incoming business contracts are done once we get an LOI from our lending partners.

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