Complaint Review: Watermark Capital Partners - Tom Lennon - Atlanta Georgia
Watermark Capital Partners - Tom Lennon Thomas P. Lennon Jr, Lennon Companies Investment Fraud - AVOID Atlanta, Georgia
*REBUTTAL Owner of company: Slanderous/Libelous Claim against Tom Lennon and WMCP
Watermark Capital Partners, specifically Tom Lennon, is in my opinion, a fraud and a complex scam. Our group approached Watermark Capital about 2 years ago to raise capital for our entertainment based start-up. He told us that he would have no problem raising the capital in 3-6 months. He then asked for a $5,000 / month retainer and a 4% equity stake in our company. His sales presentation is flawless and he is one of the best salesmen / "potential con-man" I've ever met and he sold us hard. We agreed to his term and from that point forward it was excuse after excuse about why the money could not be raised while he still drew his retainer. After 3 months, we tried to get out of the contract for non performance and Tom then threatened to sue us into bankruptcy if we tried. We did not have the resources to fight him in court so after 4 more months of Tom Lennon and Watermark Capital siphoning the founders investment in the company and not delivering, we had to bankrupt the company. Watermark has demanded that we continue to pay them for the remaining 2 months or they would take us to court personally, which they would have no legal grounds.
It's our opinion that any company looking to raise money should not work or contract with this group, it has cost us dearly.
This report was posted on Ripoff Report on 02/26/2012 09:46 PM and is a permanent record located here: https://www.ripoffreport.com/reports/watermark-capital-partners-tom-lennon/atlanta-georgia-30328/watermark-capital-partners-tom-lennon-thomas-p-lennon-jr-lennon-companies-investment-f-845083. 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
If you would like to see more Rip-off Reports on this company/individual, search here:
Advertisers above have met our
strict standards for business conduct.