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Report: #307665

Complaint Review: Empower Capital, Glongoo, JVREA, Dr. Seymour P. Kern ,Wendy King, Sam King - Carlsbad California

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  • Reported By: San Diego California
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  • Empower Capital, Glongoo, JVREA, Dr. Seymour P. Kern ,Wendy King, Sam King 7040 Avenida Encinas Bldg #104 Carlsbad, CA 92011 Carlsbad, California U.S.A.

Empower Capital, Glongoo, JVREA, Gawain Gould, Dr. Seymour P. Kern Aka Sam King Do NOT give them your money. You will never see it again !!! Carlsbad California

*Author of original report: Kern, Sam King, Empower Capital, Gawain Gould, Emindsource

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Dear Mr. Sam King,

My $25,000 Collateral Deposit must be returned to me immediately.

Reasons for allowing Empower Capital to keep possession of my Collateral Deposit:

1) Immediate access to funding on a $1,000,000 Line of Credit for personal investment in self-selected Real Estate.

2) No other Reasons.

Reasons Empower Capital must at this time return my $25,000 Collateral Deposit immediately:

1) I have received no Line of Credit with no intelligible effort made to acquire funding in four months time.

2) No signed Contract. I signed and notarized your "Loan Application Form" downloaded from your website. It has never been returned to me.

3) Empower Capital has done absolutely nothing for me.

4) It has been nearly four months since I wired you my $25,000 and nothing has happened.

5) I have requested multiple times consideration for my collateral deposit.

6) You obviously have not taken any of my concerns seriously.

7) I have received nothing.

8) My $25,000 Collateral Deposit is, according to my "loan application" and your website, "secured by prime real estate equity which can be retained or liquidated... generally at a significant profit or discount...." I have no legal consideration or proof that my money owns anything. Empower Capital has given me no ownership. As far as I know and as far as I can show, I own nothing.

9) Empower Capital's loan application form states that a collateral deposit is only "redeemable personally at any time... by resale or by exchange." This is impossible since I have nothing to sell and nothing to exchange.

10) I have asked for a "Collateral Assignment of Beneficial Interest form." I have not received one.

11) I have asked for a "listing of all the properties used for collateral purposes in the Empower Capital System." I have received nothing.

12) I have repeatedly asked for a reasonable timeframe to expect funding. My request has been ignored.

13) I have asked repeatedly for a different "mentor" other than Gowain Gould. Apparently, there is none.

14) Before I wired my $25,000 Collateral Deposit in April 2007, Sam King told me over the phone that a $1,000,000 Line of Credit was very doable and funding would be, in his word, accessible "immediately." Nothing has happened and no reason has been given to me.

15) Right now my risk is 100%. I have absolutely nothing to show for my $25,000 Collateral Deposit.

16) I have no legal claim to my money if you die.

17) My estate has no apparent claim to my $25,000 Collateral Deposit if I died tomorrow.

18) There have been no Southern California meetings with Empower Capital or Glongoo or anyone related to these endeavors since April 2007.

19) I am currently paying 7.5% interest on my $25,000 Collateral Deposit with nothing to show for it. Literally Nothing!

20) In April 2007, I personally met with Gowain Gould. Gowain Gould repeatedly lied to me and led me down a path of extreme harm. In April, I bought an investment property in Texas for which I needed financing. Gowain told me that Empower Capital could help me with 100% financing. As the closing date of Thursday, May 17 arrived, Gowain promised me several times that financing was on track to fund Friday, May 18, or no later than Monday, May 21. On Wednesday, May 16, the builder of the house I bought needed proof that I had the cash. Gowain told me to contact George Sassone at Capital Direct. George Sassone had no idea who I was. Nothing had been done. The most appalling fact is that George could only get me conventional financing based solely on my personal information with absolutely no help or backing from Empower Capital. Obviously, it was too late for George to help me. If I would have relied on Empower Capital and Gowain Gould for the financing of my house purchase, then I would have lost the house and my $7,500 earnest money. Gowain's actions were criminal and unethical to say the least.

21) Gowain Gould promised me that Empower Capital could refinance my HELOC on my primary residence with better terms. He told me that this should be quick and simple. I have not heard a word. Repeated requests to you at Empower Capital have been ignored.

22) I know that Sam King and Dr. Cy Kern of JVREA are the same person. However, when I asked Gowain Gould if that were true, Gowain explained how similar they both were, but definitely two different people. He lied. Why? I do not know.

23) The only things that I have received from Empower Capital since April 2007 was a referral by Gowain to a mortgage agent and a referral by you to a loan agent at Bank of America. Neither referral was worth a nickel, let alone $25,000. Neither referral could help me. In fact, all they did was add inquiries to my credit reports which only lowers my FICO score.

24) I have repeatedly asked you for status reports or updates on my application. Those requests have all been ignored.

25) All I have received from you and Gowain Gould, for four months now, are lies, misrepresentations, excuses and promises.

26) You asked for my patience. I have given you that. No more.

27) Empower Capital has no right to keep my money both ethically and legally.

I am demanding that you return to me my $25,000 Collateral Deposit immediately. I expect to receive it within five (5) business days, no later than Monday, August 20, 2007.


San Diego, California

This report was posted on Ripoff Report on 02/09/2008 05:25 PM and is a permanent record located here: 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 Author of original report

Kern, Sam King, Empower Capital, Gawain Gould, Emindsource

AUTHOR: Peter - (U.S.A.)

POSTED: Sunday, February 10, 2008

If there are other victims out there of Seymour Kern's lies and thievery, then please contact me. I would like to take legal action to retrieve my stolen investment monies.

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