Complaint Review: Art Fried - Scottsdale Arizona
- Art Fried P.O. Box 14858 Scottsdale, Arizona United States of America
- Phone: 480.221.0062
- Web: www.WeBuyHomesInAZ.com
- Category: Loans
Art Fried Af Business Ventures, Alero Ventures, Art Wilson Enterprises, Brocho Ventures, Brooklyn Boy Ventures, Chutzpah Holdings, Comprehensive Cash Flow Funding, Escalade Ventures, Fried Holdings, Get funded Mortgage Fraud Scottsdale, Arizona
*UPDATE EX-employee responds: The ripoff king
*UPDATE EX-employee responds: Ronald. Get off
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Art Fried borrowed money from me on a property to pay off a prior loan, and finance the fix-up of the property. The loan was for a 6 month period. He made several payments, then started paying late and then payments stopped.
Without informing me, in the 4th month he sold the property to another investor, without paying off the note. The buyer was not fully aware of the details of the loan, and he promised to pay off all debts from the sale. He gave a copy of the paid off loan to the buyer, rather than the loan to me.
The money was never used to repair the property. When we started foreclosure, the property was "coincidentally" vandalized, stripped, and flooded. This "coincidence" happened on many other properties he owned.
The property was then worth 50% of the loan amount and would require another $75,000 to repair.
He is liable for the losses since the Anti-Deficiency protection does not apply on multi-unit properties, and non-acquisition financing.
To avoid repaying over $1 million in similar debts in AZ, Art Fried filed for bankruptcy in NY City. This is the 2nd such bankruptcy filing in less than 10 years!
It appears this was his intent since the beginning, and not the 1st time he used 19 (or more) shell companies to defraud investors.
Investors beware, until he is caught and put in jail you are at risk!
Maybe the next time it will be a new city, and even a new name.
This report was posted on Ripoff Report on 04/23/2011 04:13 PM and is a permanent record located here: https://www.ripoffreport.com/reports/art-fried/scottsdale-arizona-85267-4858/art-fried-af-business-ventures-alero-ventures-art-wilson-enterprises-brocho-ventures-b-721293. 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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#2 UPDATE EX-employee responds
The ripoff king
AUTHOR: Brooklyn boy - (United States of America)
SUBMITTED: Tuesday, November 06, 2012
Ha why am I not surprised to find this.
I've known this loser from back in the day when we were growing up in Brooklyn, he was always a thief and a con artist, his family disowned him, his kids refuse to talk to him, and everyone he comes in contact with gets ripped off. Then he runs around crying that he didn't do anything and people are picking on him.
Stay away from him he's the lowest of the lowest and will rob you blind without hesitation.
#1 UPDATE EX-employee responds
Ronald. Get off
AUTHOR: Change of heart - (USA)
SUBMITTED: Monday, June 06, 2011
Hello. For whatever reason I have a pretty good idea who you are,
Ronald, because I've heard you go on and on with this story. I'm sorry
to say that you are making a mockery of yourself with your shenanigans.
Anyone in real estate knows that you cant just buy a property and think
its paid off. I do happen to know firsthand as to what and how this
transaction has transpired and how that deal was structured.
There are 2 or 3 people out for revenge against Art and have been making
a commotion, and you almost got me too with your convincing letter, but
after studying it carefully Ive realized that you are using the word
Fraud, defrauded just a tad too freely along with massive
contradictions and its become non-believable. Ive recently read a lot
about revenge, and decided to stay away from it. Revenge NEVER leads to
true happiness. He who seeks vengeance must dig two graves one for his
enemy & one for himself. Ronald, all I can say to you, "People who
live in glass houses should not throw stones". I was just told that some
of Arts close buddies in the real estate industry who also know you
from AZREIA have vowed to take you down at the right moment. They have
given you enough rope to hang yourselves. Whatever goal you all have and
want to accomplish, might only work against you in the long run. I'm
sure Art will not fight back with beanbags while you're throwing
grenades at him. Read up on vengeance and revenge especially when all
you have is here say and fabricated stories. I do not plan on responding
to any comments and getting involved here in a verbal diarrhea.
Anyone who truly knows Art does not believe and never will that he
flooded and vandalized properties. You have all been fooled by Mr Bond
who flooded his properties, collected a hefty insurance check and
laughed himself all the way to the bank, all the while you are all
running in circles and chasing your tails for almost 2 years now. Did
your property Really get flooded, Ronald? Bond wanted to be judge,
jury and hangman and at the end he hung himself. Stay tuned (in real
time, not on the internet). A sworn affidavit from a trusted source has
been delivered to the insurance company with fingers pointing at Bond,
real proof.
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