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Report: #1451332

Complaint Review: Kevin DeClue - California

  • Submitted: Wed, July 11, 2018
  • Updated: Wed, July 11, 2018
  • Reported By: Tzu (Ben) Ngai — Los Angeles CALIFORNIA United States
  • Kevin DeClue

    , California
    United States

Kevin DeClue Investment Scam California

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Kevin DeClue first came to Marriott and Associates for investment capital on 10/17/2017.  This low life scumbag initially asked us for 150k to get his startup off the ground. He claimed to be working on a life-changing technology that will reshape the face of medicine. He was saying that Google offered 5mm to purchase his patents and technology, but he believes his company is worth a lot more. We received a bill of sale for 10% equity in his company on 11/27/2017 and we told him nothing he has is compliant. We asked for a private placement memorandum, article of incorporation and related docs and he was not able to provide anything. We told him If you can have your attorney draft the offering documents, to include the terms of the investments, along with a Partnership Agreement, we will be more than happy to work on it for you.  He then told us that he will have his attorneys draft the offering documents, but nothing came back. Another few weeks or so flew by and he asked us to draft the documents and agreed to pay 15k retainer. Since Kevin is so broke, we agreed to a 5k deposit and 10k from escrow at closing.

Long story short, we found out that he stiffed Vivek for the music intonation app, and he has been using investor's money for personal obligations! He even took a loan from the letter of intent that we provided.  His credit score is at the low 500s, and he refuses to set up a business account for transactions. This motherf***** has the balls to ask us to wire investment capital into his personal account. Oh wait, there's more. We decided to invite him to Newport Beach California for a face to face meet up and understand more about his situations.  Pamela asked him a few time to see if he has any outstanding obligations, and he denied everything. His manager Eric did not raise any objections and went along with his lies. We rescinded the investment and this "recovering" drug addict said we scammed him.

Conclusion: DO NOT trust this Kevin DeClue. He will use investment capital to pay his loans and obligations, he might even take your money and go to the clubs. All his creditors are still looking for him. His IT guy Vivek had to write off the expense as a business loss. Be Warned, this guy is a true scammer. Do not be fooled by his mild manner because he will turn into a b**** once you do your due diligence on him.

This report was posted on Ripoff Report on 07/11/2018 09:34 PM and is a permanent record located here: https://www.ripoffreport.com/reports/kevin-declue/california/kevin-declue-investment-scam-california-1451332. 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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