Simpson Financial Loans Todd Simpson Scam Financing Flower Mound TX Texas

On September 28, Todd Simpson made two payments to my credit cards for a debt consolidation loan.  The payments totaled approx. $44,000.  He also made three other payments to other cards but they were returned due to "frozen account".  On October 2, we wired a 'security" payment & a "fee" as per our signed agreement totaling $9,143.  After 3 attempts because Todd kept changing his bank account name & numbers, the wire was succesful.  On October 13, Todd had the $44,000 payments returned or rejected, therefore my credit cards were not consolidated or paid off.  Rather, Todd received his wire of $9,143 and I received $180 in return fees and no credit card consolidation.

His emotional rampage was demeaning, words were misspelled in his e-mails, he wrote emails to my contacts that were character slamming, and he was very on top of making sure the wire went through.  I have several emails that are in ALL CAPS.    He wanted all money via wire NOW.  He did a BAIT and SWITCH.

The other part of this transaction was that he was also doing a refinance for us for $4,650,000 for an investment property.  The favorable terms, and his urgency to fund, along with asking for our information (credit card statements, drivers license, tax returns, market reports, credit reports) was of the norm for a private money lender.  Todd said if I got my credit score up, from 675 to 750, we would be approved for this loan.  Now to think about it, he did a bait and switch as the refinance was our first interaction, and then he made it about debt consolidation.  He asked several of times for the loan origination fee to be wired to his checking account, but we refused as all transcations go through title/escrow.  At the deadline, Todd demanded we pay $10,000 cash via wire or the refinance would not occur.