Report: #926553

Complaint Review: Texas Capital Bank

  • Submitted: Mon, August 13, 2012
  • Updated: Mon, August 13, 2012
  • Reported By: Dea — Frankfort Kentucky United States of America
  • Texas Capital Bank
    2000 McKinney Avenue, Suite 700
    Internet
    United States of America

Texas Capital Bank Frank Carabetta Please visit (((link redacted))) and discover how Texas Capital Bank of Dallas, TX assisted Frank Carabetta in ripping off Todd Coleman, Internet

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Beginning in 1999 Todd Colman made acquaintance with Frank Carabetta. Todd first met Frank Carabetta through mutual friends.  They were acquaintances but never friends.  Inevitably Frank Carabetta approached Todd and ask for a small loan and promised to pay it back in a relatively short amount of time.  This would lead to a series of financial transactions resulting in Todd Colman being conned out of more than $1 million dollars!  

Click here to download a copy of Todd Colmans loans to Frank Carabetta Frank Carabettas wasnt alone in his con he was aided by Texas Capital Bank, specifically Jeff Hightower who lent credibility to Frank and assisted him in conning Todd.  He served as Franks primary agent and made the transfers directly.  As you sort through the varying documents you will discover over 700 bad checks were written by Frank Carabetta, yet Texas Capital continued to maintain Franks accounts. [continued below]....
..... 

You will discover bank deposits transferred from business accounts into cashier checks and then immediately transferred into Franks personal accounts or his live in girlfriend Celia Lopez.  The documents will further show those monies went to purchase personal items, land and even the house Frank currently resides.  Texas Capital Bank eventually dropped Frank as a client but only after Todd Colman sought law enforcement help and they became fearful of their own liability and possible indictment.

Frank Carabetta would eventually file for bankruptcy and defraud that process too moving money, hiding assets in the name of his girlfriend, laundering money yet even the bankruptcy court seemed indifferent to the con. 

Todd sought help from law enforcement, attorneys and even attempted to report to the courts the extent of the con, but was essentially ignored by all. One million plus dollars being stolen didnt seem to be enough money to get the attention of those charged with the task of protecting the public from the crime of fraud. Frankie or what his friends call him owed millions but his lifestyle never wained and he kept betting on the horses!  See Here - and Here!

Not only did Frank continue to live it up on Todd and many other peoples money he again approached Todd for more money November 2006 he sold land purchased with several investors money.  He received $55,000 from Todd Colman and signed an agreement showing Todd owned 7% of the Maple Avenue property.  He subsequently sold the Maple Avenue property in January 2008 whereas he deposited the money in his personal account.  Texas Capital processed the sale of the land without question.

Frank Carabetta approached Todd in August 2008, long after the property had been sold without Todds knowledge and requested more money without disclosing to Todd the property had been sold or that he had kept the proceeds.

Frank Carabetta January 2008 Texas Capital Bank Statement March of 2009 Frank explained to Todd he had sold the Maple Avenue property and had taken a loss on the sale but the sale had resulted in a loss. In fact, he sold the property fourteen months after the initial purchase, he made $400,000 plus dollars profit on it yet never providing Todd any return.

The Bank Statement will show two sums of money deposited in January into Franks personal account for Waldroup, LLC. dba Maple Avenune Property for $294,280.73 and $148,750.00 plus for a grand total of  $443,030.73 NO PAYMENT TO TODD. Within 6 days Franks account balance would again be overdrawn.

CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.
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This report was posted on Ripoff Report on 08/13/2012 11:30 AM and is a permanent record located here: http://www.ripoffreport.com/reports/texas-capital-bank/internet/texas-capital-bank-frank-carabetta-please-visit-link-redacted-and-discover-how-texa-926553. 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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