Report: #1497168

Complaint Review: Ace Chapman - Chattanooga Tennessee

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  • Reported By: JD0123 — Newton MA United States
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  • Ace Chapman 635 Chestnut Street Chattanooga, Tennessee United States

Ace Chapman Partners Equity Group LLC I believe I was lied to and mislead and want a return of my investment Chattanooga Tennessee

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1.     Ace Chapman and his staff sold me an investment in a $1 million dollar business (at a %50 ROI valuation), already generating $35k to $45k per month. My ownership was 3% for the $20k invested. Then there was an additional 3% for serving as one of three business leads that HELP / ASSIST to run the business.

Given the ownership, my expectation was to conservatively make a 75% to 100% return on my cash, instead what I received was 4% over the last 18 months (only 2 of 6 quarters paid out). When I brought up the poor performance of the business to Ace. He became irate and blamed me for the business' performance. Ace never discussed with me running or taking over the business until I brought up the issue of poor performance 14 months into the investment.

I was willing to get more involved and take over the business but Ace and his staff never made the effort to train me or show me the business other than setting up a basic twitter account for marketing purposes, which was never used. Despite my several requests to Ace and his staff I was never showed or provided a walkthrough of the entire business and all of its digital assets.

Additionally, the communication frequency during the investment was not reliable and neither the time or the proper steps were taken to effectively involve me in this business / investment. I believe I was lied to and mislead and want a return of the initial $20k investment I made with Ace Chapman in the BlueDot investment.

This report was posted on Ripoff Report on 07/03/2020 07:05 PM and is a permanent record located here: https://www.ripoffreport.com/report/ace-chapman/chattanooga-tennessee-equity-1497168. 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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