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Report: #1234890

Complaint Review: Private Wealth Capital - Chicago Illinois

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  • Reported By: Frank — Milford Connecticut USA
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  • Private Wealth Capital 730 W. Randolph Suite 300 Chicago, Illinois USA

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Our office initially contacted UC Funds through Bancport Commercial Capital.  UC Funds highly recommended Private Wealth Capital ( A division of AJMC Holdings LLC) to extend financial accommodations  to USS Lofts.  As a representative of USS Lofts I, Frank Vozzo, signed an agreement with Private Wealth Capital (PWC) back on 11/14/14.  (See attached) We wired $20,000.00 for upfront fees to a PWC account located in California.  It took until the middle of January 2015 for PWC to engage with an appraiser.  At that time PWC agreed to an AS-IS appraisal as indicated in the executed contract between PWC & the appraiser.  After the appraisal was performed PWC stated that the appraiser did not complete the required As-Built appraisal.  (See attached executed appraiser proposal.)  On 2/6 private Wealth Capital requested the appraiser to perform the As-Built.  When the appraiser asked for compensation PWC responded that payment would be sent after appraisal was completed.  At that time USS Lofts realized that things were not progressing as expected.  The credibility of PWC was in question.  PWC then agreed on 2/16 to pay the appraiser upfront and that a check was  FedEx in the amount of $15,000.   A week later we are told that the PWC back office mistakenly mailed the check through USPS.  Based on our phone conversation two weeks later Justin Cozart, the representative of Private Wealth Capital, stated that he would personally FedEx the check.  That was on 3/11.  USS Lofts tried to work with PWC through many emails and phone calls to expedite the appraisal.  We have a multitude of emails where Justin Cozart, the representative of Private Wealth Capital,  was going to get a fed ex tracking number to locate the whereabouts of the appraiser's check to us in 2 hours.  As of 3/16/15 Private Wealth Capital, A Division of AJMC Holdings LLC, has not forwarded a check or wire to the appraiser as agreed upon back on 2/16. 

It was obvious at this point to us that Private Wealth Capital had no intention of abiding by the agreement with USS Lofts.  My partners and I requested to cease any further business ties with Private Wealth Capital ( A division of AJMC Holdings LLC)    Based on the Commitment section of the agreement USS Lofts requested that all unused funds paid be wired back or Fedex ASAP.  A week later PWC emailed over a General Release form for the return of the remaining unused funds. (See attached) The form was generated by a law office by the name of Ferdinad P. Serpe & Associates, Ltd.  Our partners at USS Lofts signed the release form on 3/28.  The conditional form stated that $15,000 would be returned within 14 days of execution of the release agreement.  After the 14 days lapsed our office contacted PWC.  Their representative Justin Cozart stated that their office released the funds to the law office and have closed their file with us.  We contacted the law office and the attorney Mr. Serpe had no knowledge of receiving any funds from his client (PWC).

As of 6/10/15 both parties Private Wealth Capital ( A division of AJMC Holdings LLC)   and their legal firm Ferdinad P. Serpe & Associates, Ltd have not assisted to the whereabouts of the $15,000.00 that is owed to USS Lofts based on the refund section of the executed agreement.

 

This report was posted on Ripoff Report on 06/11/2015 05:53 AM and is a permanent record located here: https://www.ripoffreport.com/reports/private-wealth-capital/chicago-illinois-60661/private-wealth-capital-ajmc-holdings-llc-refund-on-the-way-chicago-illinois-1234890. 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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REBUTTALS & REPLIES:
5Author
0Consumer
4Employee/Owner

#9 REBUTTAL Individual responds

bad check writer Run Away

AUTHOR: Bad - (United States)

POSTED: Friday, December 07, 2018

https://www.ripoffreport.com/reports/justin-cozart-writes-bad-checks/santa-monica-california/justin-cozart-writes-bad-checks-i-received-a-check-from-justin-cozart-and-deposited-it-a-f-1446623 Justin Cozart

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#8 Author of original report

Indiana Thief

AUTHOR: - ()

POSTED: Sunday, January 10, 2016

UPDATE

Attached is a document that shows Private Wealth Capital LLC went thru a involuntary dissolution on 12/12/2014.  This is one month after USS Lofts signed an agreement with PWC.  It is our understanding that Justin Cozart owes additional clints listed below:

Wilson Broadway CU - $2,027.00

Dilsukram - $3,449.00

Jennifer - $45,000.00

Federal Tax lien in CA - $75,065.00

Federal tax lien in IN- $7,082.00

USS Lofts is requesting to be first in line to get paid back.

 

 

 

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#7 Author of original report

Smoke Screen

AUTHOR: - ()

POSTED: Tuesday, January 05, 2016

As usual all of Mr. Cozarts rebuttals dating back to the summer of last year for not paying what is owed to USS Lofts are all a smoke screen.  We signed a release and the monies were never sent.  All the claimed facts that he has stated about our other companies are irrelevant and false.  Anyone who is thinking about using Private Wealth Capital as a source for funding should do their homework.  They may start by contacting us for the information on the other company that is in the process of filing a lawsuit.  I can be reached at (((REDACTED)))

 

Be Guided Accordingly

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#6 REBUTTAL Owner of company

Continued lies and Harrassment

AUTHOR: LOAN RESPONSE - (USA)

POSTED: Sunday, January 03, 2016

To all individuals who read this e-mail they need to understand that the VOPA Group is a shell corporation with no business. It's principal is Frank Vozzo, and Gennaro Perrota is also a member. Frank Vozzo has been harrassing our firm for over a years time. He has been asked on multiple occasions to stop yet continues to do so.

His recent posting today is part of the continued harrasment Frank Vozzo continues with no regard for the damage of other individuals. Any one who speaks with him will be used as a pawn in his stalking and harrasmment of our firm. He does nto care fo the collateral damge that he causes you. He has one focus and that is revenge. Frank Vozzo has posted lies online stating that we never paid an appraiser when in fact we did. Frank's recent posting states that we defrauded someone which is an outright lie. Frank never checks his facts. He simply wants to use this platform and other sites that allow him to continue to harass and stalk our company. He gets great joy knowing that he is getting attention. He is obsessed, for over a year he has plotted, schemed, and stalked our firm.

Two weeks ago Frank sent our firm the following Profanic e-mail. This E-mail is one of many we have received over a years time, copying severla associates of ours. Our firm has been subjected to this type of harrasment on a regular basis.:

Frank Vozzo

12/14/15
 
to me, Gennaro,, gennaroperotta,

 

A**WIPE

What is the status of our money you owe us

Frank Vozzo
The Vopa Group
 

Our firm has been in business for many years. Every year we close multiple loans and unfortunately we deny loans. Every lender in the country will turn down more loans than they approve. It's a statistical fact. We only take on loans that we feel that we can close. When someone comes to us for a loan we try our best to close it. Despite that fact, sometimes we are not able to close the loans. Often, it is due to the borrower withholding information about themselves or the details of the loan scenario itself. Our company has a policy to always reimburse funds to the client if their loan is denied. This is always the case with the excpetion of borrowers who lie or withhold information.

In the case of Frank Vozzo specifically, he cancelled the loan in the middle of the process and wanted a refund. We found out after the release was issued that he had felony gun charges against him throughout his loan application with us and failed to disclose it. Those charges as of very recent were brought down to misdemeanor but not during his loan process. Why Mr. Vozzo would think he could fool everyone and not disclose this is beyond me. He has everyone working and spending time on the file, despite that fact that he knew he would not pass a background check.

In addition, there was an onging court case with US Insulation in the state of Connecticut. in which they, and the City of Darien were short payments as a result of a fraudulent bond that was given with the involvement of Frank Vozzo and his firm.

Below is a link that gives you insight in to Frank Vozzo’s criminal arrest in October of 2014 in the Catskills. It was apparently moved down to a misdemeanor as of recent since he never had any prior arrests in that state.

http://www.dailyfreeman.com/general-news/20141011/law-disorder-oct-12-2014

Any one who has an issue with our firm can call 312-502-8474. We answer our phones Monday through Friday and have for many years. Frank Vozzo would like you to think that we are "an actor", or a scammer. Nothing could be further from the truth. We work very hard to perform on our clients loans. Most people who come to us, have challenges with their loan files. That is why they come to us. We can not solve everyone's problem's, but we do our best. We have so many people that have had their lives changed, by loans that we have funded and we are proud of that work. We have changed companeis directions for the psoitive in many cases. I encourage anyone to deal with us directly ,that is the only way to resolve your issue if you have one based on a loan that you had denied. Contacting Frank Vozzo will only loop you in to litigation and involve you in his twisted schemes. We would be more than happy to disclose any recent deals that we have closed and answer any questions that you may have.

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#5 Author of original report

USS Lofts Update

AUTHOR: - ()

POSTED: Sunday, January 03, 2016

UPDATE

 

As a representative of USS Lofts our organization has uncovered that Justin Cozart of Private Wealth Capital (AJMC HOLDINGS LLC) has defrauded another company.  We were contacted through email back in September by one of the partners of this company.  The partner stated that PWC owes them $45K and that they have obtained legal counsel.  Below is a quote from the latest email.

 

"We have been trying to get a transaction closed and it has taken all of my bandwidth.  Good old Mr. Cozart used his same scam with us as he did with you.   If you don't already have it you may want to look up the legal office of Gregory Mizen.    We are pursuing legal action against Cozart, his partners, PWC, AJMC Holdings LLC, and the rest of his universe.  We are happy to share our briefs with you once they are filed. We wish you the best of luck to recover your funds from this type of actor."

 

Will provide an update on this case as it becomes available.  

Our attorneys have uncovered that PWC is no longer operating under the name Private Wealth Capital.  It is not surprising.  Stay tuned.  

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#4 Author of original report

Money not well spent

AUTHOR: - ()

POSTED: Wednesday, July 08, 2015

It is too bad that Private Wealth Capital has been misguided by their legal counsel in addressing the issue of our refund status.  It is our suggestion to contact your counsel or seek another law firm that can simply guide PWC on the process of mailing out a refund based on the facts below which have already been clarifiesd in previous posts.

 

1)  Contract executed between PWC and The Vopa Group on 11/14/14

2)  The Vopa Group signed a release form on 3/28/15 which states "$15,000.00 to be returned within 14 days of the execution of this release"

3)  Today's date is 7/8/15 and the refund from Private Wealth Capital has yet to arrive.

 

This is a simple business matter that can be resolved swiftly.

 

 

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#3 REBUTTAL Owner of company

Upon recommendation of our counsel

AUTHOR: LOAN RESPONSE - (USA)

POSTED: Tuesday, July 07, 2015
Unfortunately the harrassment continues and we have had to bill countless legal hours as a result of this escalation of harrassment. Upon recommendation of our attorneys we have to disclose facts surrounding the scenario of our interaction with Frank Vozzo and his partners, within this forum that Frank Vozzo has chose to vette his grievances.
 
Any time someone submits a request for a loan we have to perform due diliegence and background searches on the partners. This particular loan was applied for by three individuals mentioned below. All three represented themselves as partners. We need to work with individuals who we feel that will perform on their commercial notes which we secure. In this particular case as due diliegence unfolded it caused delays and as information was revealed it had to be researched further.
 
None of this information was disclosed prior to us engaging Frank Vozzo and his partners, nor was it disclosed by their broker Dennis Carr of Bancport Commercial Capital. In fact Mr. Carr was eager to get this loan closed for Mr. Perrrota becasue he wanted to secure the busienss from hsi family and other companies.
 
One of the partners of this particular ongoign partnership called the VOPA GROUP is a gentleman by the name of Gennerro Perrota. In 2009 and the years before or after 2009, Gennerro Perrota was involved, and worked closely with an individual by by the name of Leo Rush according to court documents a fraudulent bonding agent and a company by the name of Great Northern Bonding Company and other companies.
 
 The Great Northern Bonding Company still appears Gennaro Perrota's name in his e-mail signature as soon as an e-mail recieved by our firm from Frank Vozzo today.
 
Gennaro <gennaro@thevopagroup.com>,
Jim Levitt <xxlevitt@cox.net>,
"Bancport Commercial Capital. -Dennis" <dcarrbancportcc@gmail.com>,
Great Northern Bonding Company <gennaroperotta@yahoo.com>
 
 
The is the same Gennaro Perrota who is a partner in the VOPA group today Partners of Frank Vozzo and the VOPA group.
 
This company issued fraudulent bonds in multiple cases in the state of Connecticut. They issued two fraudulent bonds to a company called Julian development. (See Item and link number 1)
 
Borrowers of 75 Weaver Street
 
Frank Vozzo
 
Gennaro Perotta
 
Jim Levitt
 
 
 
The state issued a Cease and Desist to these bonding companies that Gennaro Perotta apparently still represents himself as affiliated to according to his e-mail signature.
 
See item article number 5, in court documents Gennaro Perotta was attorney in fact for these companies as far back as 2007.
 
 
 
 
 
 
 
 
 
Mr. Vozzo has been given a directive on how to resolve this scenario, despite our onging legal bills as a result of his harrassment.
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#2 Author of original report

Refund on the way

AUTHOR: - ()

POSTED: Friday, June 12, 2015

 

In reference to your rebuttal we state the following:

1) We have a copy of the executed appraisal proposal.  It clearly shows Private Wealth Capital agreeing to only an AS-IS appraisal. 2) We decided to cancel the loan process after we at USS Lofts realized that PWC was not sending the check to the appraiser.  The appraiser waited for over 6 weeks for the check which never arrived.  The email excuses from PWC were ridiculous. 3)  Yes your office did agree to a refund which is why your office (PWC) sent over the release agreement.  USS Lofts signed the agreement on 3/28.  The agreement clearly stated funds to be released 14 days after execution.  We patiently waited the 14 days.  When following up USS Lofts received email excuses that went on and continue till this day. 4)  As far as the Godfather comment our attorneys will handle that in the right way. 5) No threats were made to PWC as you present in your rebuttal.  6) For a company who claims to lend/broker multi-million dollar deals everyday why is it so difficult to pay only $15,000 based on our executed agreement.  We are now waiting 62 days for the refund.  7)  We welcome your attorney with open arms

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#1 REBUTTAL Owner of company

NOT REFLECTIVE OF THE SCENARIO

AUTHOR: LOAN RESPONSE - (USA)

POSTED: Thursday, June 11, 2015

Frank Vozzo, and USS LOFTS was referrred to our Firm because he was turned down for his loan to UC FUNDS.

We often assist clients with very difficult loans.

Frank and his partners were very limited on Capital Reserves and were seeking out a highly leveraged loan.

They came to our firm in December prior to the holidays and were short capital for the third party fees required for his transaction. He had to break up the payments in two seperate payments becasue he could not come up with the capital at the time of application. This delayed the process of his loan and due to the holidays the appraiser could not perform the valuation until January.

When the valuation was ordered from the appraisal group we ordered and as complete and as is appraisal. When we recieved the report the appraisal company performed only an AS IS appraisal. This report was completely useless to us. Since the whole loan was based on an as complete value. Frank and his partners wanted a highly leveraged deal and the as complete value of the property depended on that happening.

We immediately told the appraiser to finish the as complete appraisal in which the appraiser then stated that he wanted an additional $7,500 for performing that appraisal and that he would take another 30 days to complete the report. This was very unnerving and did not coincide with the time line that Frank and his partners had wanted. Nor did I trust that the appraiser would perform on the task at hand.

As a result Frank and his partners cancelled the loan process almost immediately, halfway through the loan submission, because they wanted their money back for the third party fees that they had paid for the loan. Despite all of our work and the fact that the funds were spent in the process. We agreed to the full refund. Our attorneys processed the release which Frank and his partners signed.  NEVER ONCE DID WE EVER NOT AGREE TO THE REFUND.

Shortly after the release was signed, Frank started to make threats stating that "His associates wanted to come out and straighten things out", "Clear up any misunderstandings" It was written like a scene out of the GODFATHER. This was mentioned in three e-mails. that was sent to us directly. This was a direct threat of violence. At this point it had become apparent that things were not right with FRANK VOZZO and USS LOFTS and his partner. WE also have copies of these e-mails. I recieved several threatening voice mails.

I immediately consulted our counsel and had to engage our attorney firm to handle this matter since we were threatened. After this, the harrassment started, Our firm and UC Funds received over 76 harrassing e-mails and recorded voice mails all of which we have records of. Frank continued to say derogatory statements in an effort to speed the refund process along. The whole time in an effort to smear our reputation. This became an obsession for Frank Zozzo. All of this culminated in to FRANK VOZZO leaving a post on this web site. All of this is another smear campaign tactic by FRANK VOZZO. Unfortuantely we have had to elevate this to additional counsel to resolve this, because of the damage to reputation he is trying to cause.

 

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