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Report: #771299

Complaint Review: Ripoff Report | Westshore Mortgage & Investments Co., Inc. TRUSTED Business | Westshore Mortgage & Investments Co Verified Safe™ …businesses consumers can trust. Westshore Mortgage & Investments Co., Inc. Tampa, Florida based financial services company providing highest level of financial service expertise for clients in US and abroad. Westshore Mortgage & Investments Co., Inc.'s team is dedicated to solving problems and providing solutions for those who have been unable to secure viable property financing. - Tampa Florida

  • Submitted:
  • Updated:
  • Reported By: Shane — Aubrey Texas United States of America
  • Westshore Mortgage & Investments Co., Inc. TRUSTED Business | Westshore Mortgage & Investments Co Verified Safe™ …businesses consumers can trust. Westshore Mortgage & Investments Co., Inc. Tampa, Florida based financial services company providing highest level of financial service expertise for clients in US and abroad. Westshore Mortgage & Investments Co., Inc.'s team is dedicated to solving problems and providing solutions for those who have been unable to secure viable property financing. 8140 W. Waters Avenue, Suite C Tampa, Florida United States of America

Westshore Mortgage & Investments Co Inc Verified TRUSTED Business REVIEW: Westshore Mortgage & Investments Co., Inc. is dedicated to providing a pleasant and painless customer experience. Westshore Mortgage & Investment Co. prides themselves on knowing what can be done and who they can help and they don't believe in wasting client's valuable time.
*UPDATE: Westshore Mortgage & Investments Co Inc pledges commitment to Ripoff Report Corporate Advocacy, Business Remediation & Customer Satisfaction Program. A program that benefits consumers, ensuring complete satisfaction, confidence when doing business with a member business. Westshore Mortgage & Investments Co Inc recognized by Ripoff Report Verified™ as a safe business service.

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EDitor's UPDATE: Positive rating and recognition has been given to Westshore Mortgage & Investments Co Inc for its full commitment to quality customer service.

Ripoff Report's discussions with Westshore Mortgage & Investments Co., Inc. have uncovered an ongoing dedication by the company to total client satisfaction. This means that clients can expect that the company will work towards finding a mutually satisfactory resolution to any concerns. Westshore Mortgage & Investments Co., Inc. listens carefully to client concerns and sees them as an opportunity to learn from past mistakes and become more efficient as a company in the services offered and the support for those services.

Westshore Mortgage & Investments Co., Inc.'s principal, Mr. Ray Wateska, has informed us that his personal goal has always been to become a problem solver for his clients all the while treating each customer fairly and with respect in order to provide the highest level of service available in the industry. He feels strongly about dedicated and personalized service tailored to meet a specific goal for each individual client has been the key to Westshore Mortgage & Investments Co., Inc.'s success. For more than 25 years this work ethic and philosophy of making customers the number one priority has helped the company grow and survive through the ups and downs of the economy. President, Ray Wateska told us that "By providing value added services and helping our clients be successful in their various ventures has created decades long clients and friendships that we never imagined." He added "helping our clients be successful is what will keep us successful in the long run."

Westshore Mortgage is Ripoff Report Verified
Ripoff Report Verified™ .. part of Ripoff Report Corporate Advocacy Business Remediation & Customer Satisfaction Program.A program that benefits the consumer, assures them of complete satisfaction and confidence when doing business with a member business..





The information provided in this report below is based on comments made by Raymond during an onsite inspection held by a third-party verification company with no biases towards Westshore Mortgage & Investment Co.

Westshore Mortgage & Investment Co is a mortgage company that primarily works with investments in commercial property loans. Raymond Wateska stated the following about his company, "The loans that we do are basically for income generating property like offices, retail, multi-family, a single-family investment property that is used for rentals things like that. We also do construction loans for developments...hotels and hospitality things like that."

Leads for Westshore Mortgage & Investment Co are primarily obtained through the referrals of satisfied customers. Mr. Wateska added, "I have been in business for over 25 years. We have advertisements out there as well and through our website." He additionally explained the sales and services process for his company, "Initially it would be a phone interview just to get the basic details and understanding of what you are trying to do. Usually, in the first few minutes, I can tell whether someone can be helped based on the numbers they provide because we only loan a certain percentage of the value and/or the purchase price of the total cost of a project. So, if they are looking for the total cost of a project and the project is 10 million and they want to borrow 10 million I can’t help them. They need to have some of their own funds. So, it's an interview. If it sounds like something that would work, we send them over an intake form whereby they put all of the information and answer specific questions with specific answers to give us the details so we don’t have to go through a number of documents to try to decipher and extract it to figure it out what they are trying to do. This way they answer specific questions and it is a lot quicker process and then someone has to stand by those figures and that information that they provide to us because that is what we use to move onto the next step."





CUSTOMER CARE & COMPLAINT RESOLUTION – WESTSHORE MORTGAGE & INVESTMENT CO.

Mr. Wateska was asked to describe a situation where a client was not satisfied with the level of service they received. He stated the following, "we have 3rd parties that are involved in the transaction that we have no control over such as title companies or appraisers or surveyors or insurance agents. We all work independently but we require their services. A lot of time it may be a problem with the vendor and we try to remedy that and step in and try to help them with the title company, insurance, or whatever and resolve that problem. It is not combative at all just trying to find a solution that works best for them." He additionally expressed that is an issue arises he and his team work diligently to ensure it is handled quickly and with the best interest of the client in mind.

When asked to comment on complaints posted on Ripoff Report's website Mr. Wateska expressed that this is the only complaint he has received in 25 years across multiple companies. He further stated, " He was in a contract to pay me services. I worked for him for 4 months. He never paid the money. The other thing is he tried to file a complaint….I had everything in writing and he filed a complaint with the Department of Banking and Finance. They investigated it and found that it was unfounded and unsubstantiated and that I provided the services I was contracted to provide. He then went to BBB and did the same thing and they had the same findings." To further assure future and current clients Westshore Mortgage & Investment Co had an A+ rating with the BBB.

In order to ensure that clients are receiving the best experience possible Westshore Mortgage & Investment Co is dedicated to providing clear expectations and communication with their clients. Mr. Wateska stated the following, "while I take information over the phone the intake form is always different from what they tell me over the phone. That intake form is very very detailed and specific and asks questions that require a specific answer. It tells people to not refer to an outside document, so we are not leafing through 300 pages of documents trying to find out what it is they are trying to tell us. So, it is very detailed in that there is no stone left unturned. It is 11 pages and it is all numbers. Everything in this industry is based on the numbers. The dollar amount he is trying to borrow, the dollar amount value of the property, the value of the property once the improvements are made...those types of things. How much liquidity they have, what their credit scores are all the things that would be important in getting them an accurate assessment of whether or not we can help them and then accurate terms of what can be proposed as far as the loan that we can get from our investors. So, the form itself is definitely something and then there is another process. They sign it number one after they complete it and they provide all of the documentation and we go over it with them again. Everything is very detailed and specific on what they are getting from us any contracts and things like that. It tells them exactly what they are getting for what they are paying our company for the services."

Westshore Mortgage & Investment Co is proud to be a part of Ripoff Reports Corporate Advocacy Business Remediation and Customer Satisfaction Program. Mr. Wateska stated the following, " it means that clients can go there and see that we are meeting a standard because I guess there really is no standard in the industry. To let them know we are going to uphold the highest level of integrity and service and provide them an outlet for any complaints or issues if there are any that arise. But we will strive to prevent that from happening from the beginning. It just helps us to be reminded that there is a level that needs to be maintained of integrity and customer service.”





WESTSHORE MORTGAGE & INVESTMENT CO. - STATEMENT FROM PRESIDENT – RAY WATESKA

" We are one of the most recognized names in the industry. We had been through the ups and downs the industry and all along we put our clients first. The market is ever-changing and other products and services are changing as well. And while change is inevitable, we are constantly staying apprised of the most up-to-date and most advanced financial services products that help our clients achieve their goals. Please take time to review our site and learn more about our products and services and meet the people who will work with you one-on-one to help you achieve your desired outcome.

Westshore Mortgage & Investments Co., Inc.'s team is confident in their knowledge, skill, and ability to deliver viable solutions even in the most complex, non-traditional financing situations. Westshore Mortgage & Investments Co., Inc. takes employee satisfaction seriously as well. Employee feedback and surveys reveal comments such as this, "Westshore Mortgage & Investments Co., Inc. provides a very positive and enjoyable work environment. Everyone who works at Westshore Mortgage & Investments Co., Inc. is here because they enjoy what they do and they love helping others. Even so, opportunities for suggestions and improvements are encouraged and routinely employed to keep employee morale at the highest level possible."

Ripoff Report was pleased to learn that Westshore Mortgage & Investments Co., Inc.'s past and current approach to business is focused on its pledge to total commitment towards client and employee satisfaction.





STATED IMPROVEMENTS FROM WESTSHORE MORTGAGE & INVESTMENT CO.

Westshore Mortgage & Investments Co., Inc. recognizes that complaints posted on Ripoff Report (whether true or not) are issues that need to be addressed, not ignored. If handled correctly, complaints can be valuable learning opportunities. With the feedback generated by Ripoff Report's review, Westshore Mortgage & Investments Co., Inc. has made organizational changes allowing its clients and employees a more streamlined approach to problem resolution and a commitment to a great client experience.

In summary, after our review, which included discussions with Shane Fischer, Ripoff Report is convinced that Westshore Mortgage & Investments Co., Inc. is committed to quality delivery of services resulting in total client satisfaction.





How does a business get Ripoff Report Verified™

The member business allows Ripoff report to email everyone from the past. Those who respond to Ripoff report with a valid complaint must be take care of. They have made a commitment that if anyone contacts Ripoff Report in the future, they will make things right within 14 days. The member business must err on the side of their customers. Otherwise the member business is off the program.

Ripoff Report has determined that Westshore Mortgage & Investment Co. meets Ripoff Report Verified™ standards which include a commitment to make a good faith effort to resolve any consumer complaints. Members of the Corporate Advocacy Business Remediation and Customer Satisfaction program do pay a fee for our on-site review, 24-hour monitoring and for support with customers to resolve any disagreements.

Ripoff Report sends a 3rd party service to do an onsite inspection of the new member business. The on-site inspection / review does not mean that the products or services offered by the business have been evaluated or endorsed by Ripoff Report and has not made a determination as to the business' product quality or competency in performing services. We can verify, that Ripoff Report went to the business, verified their business or “work from home business”, there for, if a customer in the future does not get treated correctly, Ripoff Report can get the problem resolved. If not, and the customers is right, the member business will be taken off the Corporate Advocacy Program. Remember, Ripoff Report emailed every customer from the past that filed a complaint to make sure the member business made things right with customers from the past. Again, to err on the side of their customer, those from the past and those in the future.

Read more about why consumers should feel confident when doing business with a member of Ripoff Report's Corporate Advocacy Business Remediation & Customer Satisfaction Program. Yes, it’s a long name for a program that does a lot for both consumers and businesses alike.

Read about Ripoff Report Corporate Advocacy Business Remediation & Customer Satisfaction Program, a program that benefits the consumer, assures them of complete satisfaction and confidence when doing business with a member business. This program works.

As a matter of policy, when a business becomes a member of the Corporate Advocacy Program, they agree to allow Ripoff Report to contact every client who filed a complaint, so they can make things right with them. In order to confirm that the complaints were resolved, Ripoff Report is copied on all responses, so we can insure that the member business did right by their customer.

NOW TO THE ORIGINAL REPORT THAT WAS FILED

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Ray Wateska Westshore Mortgage & Investments Company, Inc; Caribbean Mortgage Loans, Destiny Capital Partners, Ascendant Capital Partners, Tampa, Florida

ABOUT THE RIPOFF REPORT BELOW:

Ripoff Report would like to let readers know that Ripoff Report emailed this customer, so the member business could make things right with them. When a business joins the Corporate Advocacy Program, Ripoff Report emails everyone from the past so the member business can make things right with them. Of course, everything within reason. In order to confirm that the complaints were resolved, Ripoff Report is copied on all responses, so we can insure that the member business did right by their customer. The author of the Ripoff Report below never responded to our offer to help them. The Review below should be ignored.

STATEMENT FROM WESTSHORE MORTGAGE & INVESTMENT CO.:

a. The client never paid Westshore Mortgage& Investments Co., Inc. the money he claims he paid. His documentation was discovered to be illegitimate.

b. We released him from his obligation to pay for contracted services that we provided over a 4-month period but we were not compensated.

c. We have initiated the use of fully transparent and easy to understand documentation, so the client can be 100% certain of the services to be provided.

NOW TO THE ORIGINAL REPORT THAT WAS FILED

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Ray Wateska is a loan consultant whom I retained when he obtained a Letter of Intent  from a company he was working with, (Destiny Capital Partners/Ascendant Capital Partners/J. Lawson/Alvin Tucker/Lynn Gladney/Kelli Shake), for my loan for a Caribbean Property.  There was a full review of the property and financial information done by Ray Wateska and Destiny Capital before the LOI was issued.  Ray Collected $9,500.00 from me for both himself and Destiny Capital Partners once this LOI was issued. 

Ray,(Caribbean Mortgage Loans), and Destiny Capital agreed to the deadline that I needed to meet with this investment.  The Company, Destiny Capital Partners changed their company name to Ascendant Capital Partners midway thru the scam.  They did not meet the deadline.  They then in a formal letter backed out of the deal, saying that it was clearly their mistake in not being able to fund.  They also stated in the letter that they would refund all of my money.  This has never happened...a year has passed. 

I lost $700,000.00 that I had invested in the project.  Ray Wateska, Caribbean Mortgage Loans, Westshore Mortgage & Investment Company, and any business Ray is involved in are a rip off.  I have all the documents to back this up and they are available to anyone who asks for them.  Be Careful I see Ray Wateska and his companies all over the internet offering his services,(YouTube, FaceBook, Tweeter, Linkedin, etc.  Now he claims on line to be an internet marketing specialist, too!!!  I would certainly like to get my money back from him and make him responsible for what I lost on my investment.  I am also hoping to make sure he doesn't rip off other folks like this.  Legal justice, (criminal and civil),  for Ray would be great, too!

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REBUTTALS & REPLIES:
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#1 REBUTTAL Owner of company

The Real Story

AUTHOR: Satyen Gandhi, Esquire - (United States of America)

POSTED: Thursday, April 05, 2012
Satyen Gandhi, Esquire
The Ticktin Law Group, P.A.
600 West Hillsboro Boulevard
Suite 220
Deerfield Beach, Florida 33441
(954) 570-6757
sgandhi@legalbrains.com

            The following is a list of points and facts that show that Shane Fischers complaint against Raymond Wateska, Westshore Mortgage, Caribbean Mortgage Loans, and Commercial Project Consulting is false and has no merit: 
 
About Raymond Wateska, Westshore Mortgage, CaribbeanMortgageLoans.com and CommercialProjectConsulting.com (collectively referred to as Wateska)
 
1. Raymond Wateska, and his consulting company, CommercialProjectConsulting.com, provide separate, commercial project consulting and Advisory services to clients for qualified commercial projects only. The project consulting firm is NOT a mortgage company.  It does not provide mortgage or loan services.  
 
2. Project consulting and Advisory services are NOT in any way tied to, or contingent upon delivery of any loan product whatsoever.  Consulting services provide advice, skill, experience and negotiation, etc. on behalf of the client to aide in the proper structure of their real estate project for presentation for solicitation of possible JV partners, equity partners, investors and/or lenders that the client desires.  
 
3. Wateska, through his licensed mortgage company is in the business of providing separate, commercial mortgage loan brokering services to borrowers with qualified projects and properties for a fee, paid at closing for the successful funding of the loan.
 
4. Wateska is a mortgage Broker, NOT a Lender and does not issue commitments. Only lenders issue commitments.
 
5. Wateska does not, and cannot issue loan promises or loan guarantees - Neither can your bank.
 
6. Wateska does not make or fund loans.  Third-party lenders fund the loans.
 
7. Wateska is Federally Registered and Licensed with the National Mortgage Licensing System (NMLS). The NMLS Consumer access site to verify Wateskas NMLS licensing information can be accessed here: http://www.nmlsconsumeraccess.org/  
 
8. Wateskas NMLS License Numbers are FEDERAL NMLS MLO ID#: 372698 and FEDERAL NMLS BROKER ID#: 373216
 
9. Wateska and his company, Westshore Mortgage & Investments Co., Inc., has been State Licensed with the Florida Office of Financial Regulation (FLOFR) since 1995. The FLOFR Consumer access site to verify Wateskas FLOFR licensing information can be accessed  here:  http://www.flofr.com/Consumer/Verify.aspx
 
10. Wateskas FLOFR Numbers are STATE FLOFR LIC/REG #: LO8070 and STATE FLOFR LIC/REG #: MBR723
 
11. Wateska and all companies associated with him have continuously maintained and currently hold an A+ rating with the Better Business Bureau of West Central Florida
 
12. Wateska and his companies routinely pass all annual Federal and State criminal background checks through the Federal Bureau of Investigation (FBI) and the Florida Department of Law Enforcement (FDLE) to maintain valid licenses, without fail.
 
13. Wateska and his companies are subjected to annual credit and financial reviews from the National Mortgage Licensing System (NMLS) and the Florida Office of Financial Regulation (FLOFR) to maintain valid licenses.
 
14. Wateskas licenses for his institutional commercial mortgage business is 100% voluntary on his part as Commercial Mortgage Brokers of this type are NOT required to be licensed in Florida and most other areas of the United States.
 
15. Wateska is not affiliated with any lenders and offers his services independently of all third parties.  Therefore, Wateska is no way responsible for the non-performance of an unaffiliated, third party lender to which he has no control over.  Wateska has no voice in their policies, procedures or their lending practices or guidelines, and it would not make any sense if he did.
 
16. Wateska and his companies have never been found liable in any court of law in any lawsuit.  
 
17. Wateska has never had to defend against any meritorious actions, any administrative actions against his licenses or companies, and is in good standing with the NMLS, FLOFR and the Secretary of the State of Florida.
 
Wateska Provided Consulting Services to Shane Fischer, Fischer Wont Pay What He Owes
 
18. In early 2010, Wateska was contacted by an Advisor of an individual named Shane Fischer.
 
19. Shane Fischer purchased a hotel in Belize named Coconuts Beach Resort.  Fischer made a poor business decision and purchased a property without obtaining the recommended audited financial statements from the seller. Fischer relied solely on the "word" of the seller that the property was making money and was a good investment. 
 
20. In fact, Fischer later claimed the seller committed fraud and sued the seller in a Belize Court.  The Belize court ruled in favor of Fischer but he only had a very short window to pay off the seller in full or lose the property for non payment of the seller-financed mortgage.
 
21. Fischer stopped making payments only four (4) months after he purchased the property.  After eighteen (18) months had passed with no payments having been made, Fischer finally sought assistance and contacted Wateska. 
 
22. Fischer requested that Wateska offer consulting services to assist him with structuring and assembling a package required for submission to possible investors and lenders. Wateska agreed to provide consulting services to Fischer, and Wateska would be compensated for his services by Fischer.  
 
23. On March 14, 2010, Fischer entered a written, contractual agreement to pay Wateska $12,500 for the consulting services to be provided to Fischer's benefit. Wateska was to use Fischers property records and information to construct and assemble a package for presentation to potential investors and lenders to consider funding of Fischers loan. 
 
24. Fischer agreed to pay Wateska in full for the services at the time a loan commitment was delivered as a result of Wateskas Consulting services.
 
25. Through a review of Fischers documentation, Wateska discovered that Fischer lacked all of the typical, required documentation necessary to qualify for a commercial mortgage loan. 
 
26. As a result, Wateska had to spend extra efforts in reviewing and preparing all of the documentation that Fischer possessed along with estimated projections of income and occupancy, etc. Wateska even went so far as to help Fischer put together a plan to have a professional real estate marketing firm as well as a professional real estate management and maintenance firm help him with the day-to-day operations.  This was done in order to get the property to a point where it would be producing a profit acceptable to a lender.
 
27. Based on Wateskas efforts, on March 25, 2010 Fischer received a loan commitment from Destiny Capital Partners a/k/a Ascendant Capital LLC. 
 
28. As a result, Wateska fulfilled his contractual consulting services obligations under his agreement with Fischer.  In other words, Wateska did everything he was supposed to under the contract with Fischer. 
 
29. Despite Wateskas fulfillment of his obligations, Wateska only received onethird of what he was owed by Fischer.  Fischer paid $4500 in two sporadic payments, each approximately thirty (30) days apart, for the consulting services provided to Fischer's benefit in advance.
 
30. Therefore, Fischer has breached his contractual obligation to pay for the services provided. Fischer still owes Wateska $8,000.
 
31. Wateska never received $9,500.  Wateska only received $4,500.
 
32. Even though Wateska was not paid for his services Wateska tried to secure numerous investors and lenders for the property for months.  But the loan was routinely denied due to the fact that the property was found to be in extremely poor condition and was not operational or generating income.
 
33. The following links show the property condition:
http://www.tripAdvisor.com/Hotel_Review-g291962-d310269-Reviews-Coconuts_Caribbean_Resort-San_Pedro_Ambergris_Caye_Belize_Cayes.html
 
34. On June 10, 2010, Fischer, through his Advisor, expressed his concern that the process with Destiny Capital Partners a/k/a Ascendant Capital LLC was taking too long and he was running out of time to meet the Belizean Courts deadline. Fischer and his Advisor requested that Wateska put pressure on Destiny Capital Partners a/k/a Ascendant Capital LLC and seek out other options.
 
35. On June 10, 2010, Lynn Gladney, Jay Lawsons wife, from Destiny Capital Partners a/k/a Ascendant Capital LLC indicated that Destiny was negotiating with a direct lender in Belize to fund Fischers loan just to finish the process and save the property.
 
36. On June 17, 2010, Lynn Gladney from Destiny Capital Partners a/k/a Ascendant Capital LLC, indicated that her husband, Jay Lawson, was working directly with Fischers attorney in Belize to resolve the matter.
 
37. Wateska continued to seek out other financing options for Fischer.  The prospect was bleak, to say the least, as Wateska had few options left because both Fischer and the property itself were unable to legitimately qualify for conventional financing. 
 
38. On June 24, 2010, Wateska was able to secure a viable and legitimate funding proposal from a direct, hard money, asset based lender for the benefit of Fischer to help him save the property from foreclosure. 
 
39. Fischer was unable and unwilling to pay for a new appraisal required by the lender to support the value necessary to adequately secure the lender and complete the loan.
 
40. On June 29, 2010, Fischers Advisor indicated he was frustrated and upset because Fischer did not have the funds to pay for the lenders required appraisal.
 
41. Wateska learned that Fischers Advisor had $20,000 at risk in Fischers property.  The Advisor urged Wateska to pursue other options that did not require Fischer to pay for an appraisal.
 
42. On June 30, 2010, Wateska received an email from Jay Lawson.  The email stated that neither Destiny nor Ascendant could complete the loan in Belize, as Ascendant was not properly structured to do business in that country. Therefore, Jay Lawson actually offered to repay Fischer the $5000 that Fischer previously paid Destiny.
 
43. On June 30, 2010, Wateska, continuing in his efforts to obtain financing for Fischer, contacted a colleague in Costa Rica with direct access to a wealthy private investor in Panama.  This investor was aggressively investing in properties in that region. Wateska learned that the investor may be interested in funding the loan for Fischer. 
 
44. On July 1, 2010, upon review of the original appraisal supplied by Fischer, the Panamanian investor made arrangements to visit Fischers property. Wateska notified Fischer and Fischers Advisor of the situation.
 
45. On July 12, 2010, the Panamanian investor only offered to loan Fischer $500,000.00 for a two (2) year term because during the visit to the property it was discovered that the property was in such poor condition and was not worth the $4,600,000.00 claimed by Fischer.  In fact, several public postings on the Internet revealed that Fischers property was in such terrible condition that it could not support any lenders property condition requirements. 
 
46. Despite all of Wateskas efforts to obtain financing for Fischer, which went way beyond his obligations expressed in the contract, Fischer decided to file a complaint with the Florida Department of Financial Regulation.
 
47. In August of 2010, Fischer filed a formal Complaint with the Florida Office of Financial Regulation (FLOFR).  Fischer alleged an advanced fee loan scam.  The FLOFR financial crimes division investigated Fischer's claim.  Upon review of the facts, the FLOFR found that Wateska provided Fischer with the consulting services he was contractually obligated to deliver per his written contract with Fischer.  And therefore, the FLOFR dismissed Fischer's claim without merit.
 
48. Per legal counsels advice, Wateska stopped communicating with Fischer and his Advisor once he discovered Fischer filed a complaint.
 
49. In September of 2011, the Better Business Bureau (BBB) of West Central Florida investigated Fischer's claim and found that Wateska made a good faith effort to resolve the matter.  The BBB administratively closed the file.  Westshore maintains its A+ rating with the Better Business Bureau.  In fact, all of the companies associated with Wateska have a BBB rating of A+.
 
50. Fischer also has posted false allegations against Wateska on the internet, despite Wateskas efforts to obtain the financing for Fischer.  Wateska has no control or ability to actually offer and approve financing for anyone, including Fischer, as Wateska is not a lender.
 
51. Wateska has filed a defamation lawsuit against Fischer for these false claims.  Fischer has not responded to the lawsuit, or in any way attempted to defend against it. 
 
52. On February 24, 2012, a default was entered by the Court in Hillsborough, County Florida against Fischer in the defamation lawsuit.
 
53. Fischer is desperate, and has lashed out in his desperation against Wateska.
 
Overview
 
1. Fischer was not pressured or coerced into making any decision or enter into any agreement.
 
2. Fischer knowingly provided fraudulent documentation to Wateska which damaged Wateska's credibility and reputation with the lenders who reviewed the information causing irreparable damage to his business.
 
3. Wateska's consulting efforts provided a substantial and direct benefit to Fischer giving him the ability to secure a loan through many sources. However, it was Fischer's inability and his inability ALONE to provide supporting documentation and a valid appraisal to the lenders that ultimately prevented Fischer from securing financing. 
 
4. Fischer deliberately and conveniently misrepresented and omitted pertinent facts related to the property and the borrowing entity which prohibited Wateska from successfully securing financing for the property with any lender, despite the substantial efforts undertaken by Wateska.
 
5. The legitimacy and validity of the original appraisal submitted by Fisher was questioned by many lenders and deemed "fraudulent" by several others who reviewed it and therefore, was unacceptable to any of the proposed lenders.
 
6. Fischer's company, Einstein Inc., had financial difficulties and lacked the basic resources to even pay for an appraisal.  Thus, he was not able to verify his claim to the lender that his property was worth $4.6 million at the time, and as much as $5.9 million after his proposed improvements were completed.  
 
7. The following link contains third party reports from past guests on a reputable travel web site: www.tripAdvisor.com. http://www.tripAdvisor.com/Hotel_Review-g291962-d310269-Reviews-Coconuts_Caribbean_Resort-San_Pedro_Ambergris_Caye_Belize_Cayes.html
 
8. According to these reviews, the property was deteriorated and in poor condition.  Guests were required to sleep on mattresses on a concrete floor.  Prostitution and drug use at the property were prevalent.  Violence at the property was regular occurrence.  Much of the property was not operational.  Staff was only present to attend to guests needs and requirements occasionally.  Fischer promised refunds to guests but never paid.
 
9. Wateska is not affiliated with or associated with Lawson, Destiny Capital Partners or Ascendant Capital LLC or any other company owned or controlled by Lawson.
 
10. Wateska had no evidence of Lawson being untruthful, fraudulent or deceptive and acted in good faith and in good conscience.
 
11. Wateska was not part of the indictment of Lawson, Destiny Capital or Ascendant Capital LLC
 
12. On March 19, 2010, Lawson and Destiny provided Wateska verification for the SEC Approval for both Destiny Capital and Ascendant Capital LLC.
 
13. Wateska provided the SEC Approval for both Destiny Capital and Ascendant Capital LLC to Fischer and his Advisor who was familiar with SEC regulations and companies for review and their due diligence.
 
14. On March 19, 2010, Lawson and Destiny provided Wateska verification of the creation of the Ascendant Real Estate Development Fund I, LTD filing with the SEC. This fund was set up to fund Fischer's loan through Destiny Capital Partners and Ascendant Capital LLC.
 
15. Wateska provided this SEC information to Fischer and his Advisor for review and their due diligence.
 
16. On March 25, 2010, satisfied with his due diligence on Lawson and Destiny Capital Partners and Ascendant Capital LLC, Fischer accepted the loan commitment from Lawson and Destiny Capital Partners and sent them $5,000 for property diligence fees.
 
17. Fischer, on the advice of his Advisor, entered into his agreement with Lawson and Destiny Capital and Ascendant Capital LLC of his own free will and was not coerced or pressured in any way.
 
    In summary, Wateska provided service above and beyond any contractual obligations, and was paid not even half of what Fischer agreed to pay under the contract.  Fischer has no one to blame for his inability to obtain financing other than himself, as he made fraudulent representations regarding the quality of the subject, collateral property.  Fischers actions continue to hurt Wateska, despite the fact that Wateska did nothing but provide the highest level of service to Fischer.  Fischer has made false allegations against Wateska, and has lashed out against Wateska.  Fischer is looking for someone else to blame for problems he caused himself.  Wateska has been made a victim by these false allegations.  Fischer truly proves that no good deed goes unpunished.  For all of Wateskas efforts on behalf of Fischer, Fischer chose to post false allegations about Wateska instead of paying Wateska what he owed him. 
 
Do not believe anything Fischer has posted or says.  Fischer cannot be trusted, and is extremely unreliable!  
 
 
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