Complaint Review: Alvin D. James - Atlanta Georgia
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- Author Not Confirmed
- Alvin D. James 75 14th Street NE Atlanta, Georgia USA
- Phone: 404 607 8183
- Web: alvinjamesgroup.com
- Category: Investment Brokers
Alvin D. James, Best Bargain Network, LLC., Alvin James Group, LLC Alvin James takes over $47K Nest Eggs of Seniors for Best Bargain Network, LLC & Went Belly Up Atlanta Georgia
*REBUTTAL Owner of company: Buyer's Remorse A Decade Later
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I and eight other people invested a lump sum into Best Bargain Network. LLC. Alvin James was the CEO of the company and actively sought investors. This company was going to be a home shopping network, with prominent people to feature their products.
As investors we were never informed how the investment failed, provided with documentation to see how the funds were spent, nor paperwork to properly file the loss on our taxes.
Mr. James was aware that several investors were seniors and this loss could have adverse effects. We made all efforts by sending certified mail, regular mail, leaving message on his home and cell phone and even physically showing up to his home. During a final phone call he said, don’t call him again.”
I recently found out that he is seeking funding for other ventures, Future Investors BEWARE!
This report was posted on Ripoff Report on 09/23/2014 12:08 PM and is a permanent record located here: https://www.ripoffreport.com/reports/alvin-d-james/atlanta-georgia-30309/alvin-d-james-best-bargain-network-llc-alvin-james-group-llc-alvin-james-takes-ove-1178745. 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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#1 REBUTTAL Owner of company
Buyer's Remorse A Decade Later
AUTHOR: AJames - ()
SUBMITTED: Monday, October 27, 2014
It was recently brought to my attention that your newsletter, Ripoffreport.com, has posted information about Alvin D. James and the business venture the Best Bargain Network, LLC (BBN). This is a rebuttal to address the information that is inaccurate.
The individual making the claim did invest in a start-up venture called the Best Bargain Network (BBN) which was a proposed home shopping network. This took place approximately 12 years ago.
At the time that the individual making the claim made the investment in the company, she represented that the investors included herself, her husband and her in-laws. The company never "targeted seniors" to invest in the business.
Furthermore, the company paid Jackson Securities, a reputable investment banking firm previously owned by former Atlanta mayor, Maynard Jackson, $35,000 to produce a Private Placement Memorandum (PPM) of which the person making the claim was given a copy. The PPM clearly stated all of the Risk Factors associated with the investment and further stated that investors could potentially lose their entire investment. It also included an investor suitability agreement which requires investors to sign off stating that they are accredited and would not be adversely affected should the business not succeed.
I personally invested over 6 figures in the venture and produced some high quality infomercials and an e-commerce site. Unfortunately, the venture never got the traction that was expected and never secured a significant funding commitment to take the venture to the next level.
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