Biz4Loans Predatory Unlicensed Lender Fresno California

Re: Mrs. Harpreet Bali (Broker’s BRE 01447935), Mr. Pradeep Bali (restricted salesperson license: 01364141), and Mr. Daljeet Singh (Broker: 01856075), NMLS: 297884, 1st Century Mortgage, Biz4loans.com, and other connected businesses located in Fresno, CA involved in fraud and unlicensed lending activity.

Mrs. Bali had us send monies she claimed would be used to invest in loans/Trust Deeds (mortgages) on properties. After 3 months of giving us the run around and no proper documents to evidence proper investments being made, we have learned that they did not invest in the mortgages or properties at all, that our monies are unsecured, and that they are unlicensed to conduct such type of lending.  Mr. Bali has spent time in jail for tax fraud as evidenced on the DRE website.  The Bali's and Daljit Singh refuse to return investor monies and threaten they will file for Bankruptcy and shut down their businesses if we persist.

Mr. Pradeep Bali is a licensed real estate sales person, with a status of “restricted” on his license. Mr. Bali had been sanctioned by the CA Dept of Real Estate and lost his license for a few years (Case No. H-2469 FR, OAH No. 2010041438) and had spent time in federal custody/prison for matters involving IRS tax fraud.

He is engaged in making high interest rate loans without a license to do so. They often charge interest rates to individuals and businesses well above the usery limits.  In the range of 30% to 1000% annualized.  They make extremely high risk loans that they then defraud unsuspecting investors into taking on.  They make an extremely high number of points upfront, while the investor is stuck with a non performing loan.

They are abusive and threatening if you ask for your money back.