Jerry Norton / Capital Homes LLC Mentor Financial Group Ripped off Investor! Highland Utah

(Description Of Complaint)

In Late 2013 I was sent a DVD from Mentor Financial group LLC. I had purchased a couple of real estate electronic programs for real estate investors from his company. This company was jointly owned by a man named Peter Conti, which Jery Norton is no longer associated with. The DVD explained that I could make a high rate of return on real estate Investments. So at the beginning of 2014 I contacted Jerry Norton. I told him I would would like to invest in his projects. He called me and told me he needed money right away for a project at 2311 Sharon Road Charlotte NC. 28207. This was done through Jerry Nortons Company Capital Homes LLC. He told me he would pay me 10% simple interest. So on March 3, 2014 Invested $106,000 from my Roth IRA into his project.

I was never told I was in second postion on this loan. According to Pennsylvania Law, where I live I was suppose to receive a disclosure document 48 Hrs. before I invested in this project. I never received such a document. Over one year later on April 8,2015. I received an email stating that I was to receive a sum of $11,848 for 408 days and a total pay of $117,848. On April 13 he offered me to invest in another project and he would pay me 11%. I declined the offer because I felt there was something wrong. I later received a phone call in July, and he told me he had lost money on this the project. He told me the lender in first position was going to foreclose, if he did not pay the money he owed. This in would have wiped me out in second position.

He did wire the principal of $106,000 back into my self directed account. Over the phone we did negotiate a lower amount on the interest to be paid. I told him I wanted a promissory note for the reduced amount to be paid. He said that would cost money and involves lawyers. He said lets just communicate by email, and I will pay you by the end of 2015, from other projects. I have tried many times to contact him by emails, voice mails, and texts to no avail. Also when the Trust Deed, and the Trust Deed Note came back to me there were no signatures. Plus through investigation there was never any recording of the deed in Mecklenburg County North Carolina. For me or the person in first position.

Ripped Off Investor