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Report: #1460132

Complaint Review: Polaris Capital aka ACR aka Chad Schwartz - San Diego CA

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  • Reported By: Victims — SALT LAKE CITY United States
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Polaris Capital aka ACR aka Chad Schwartz Polaris Capital ACR Chad Schwartz Business Loans, Commercial Mortgages, UCC Removals, Personal Loans San Diego CA California

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We were victims as part of an elaborate scheme by an unscrupulous Broker Polaris Capital/ACR/Chad Schwartz. We issued checks for multiple projects  for Loan Fees, UCC removals and multiple appraisals. The funds that were taken by him/his Company were not transferred to the Lenders, Mortgage Companies and Attorney’s helping with these services, instead he has cashed them and kept the funds. We found out much later since we were not allowed to communicate directly with the Appraisal Companies and he had promised to send proof (which he never did) for the UCC removals and proof the funds were sent to the Lenders for origination fees. He also fraudulently changed the payee on multiple checks from other institutions (to whom he was supposed to forward the funds) including a Leasing Company and a Bank to his own Name/Company and Personal endorsed the checks that were not made out to him. We have proof (copies of all of the checks before and after)  We were advised that this may be a class 2 Felony. 

We have contacted our banks and have filed fraud reports and have reached out to Mr Schwartz multiple times for him to refund our money. We merely want all of our funds returned to us at once, however Mr Schwartz has not returned even a dollar. We do not know what he did with all of these funds and this has crippled us and our business. We also feel it is our responsibility to prevent this from happening to anyone else. 

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This report was posted on Ripoff Report on 09/09/2018 05:39 AM 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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