Platinum Capital Financial Group Reports & Reviews (1)
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SCAMPULSE
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SCAMPULSE
If you know any contact information for Platinum Capital Financial Group, help other victims by adding it!
Scammer's address : 28362 Vincent Moraga Dr. Ste. A, Temecula, CA 92590, USA
Scammer's email [email protected]
Country United States
Victim Location CA 92584, USA
Total money lost $7,000
Type of a scam Investment
*** ** *** is a sacm artists and has done this to many people
Additional Victims of investment fraud:
*** *** ***-***-***
*** **rrell ***-***-***
This complaint is in regards to the billing and unethical practices of *** ***. It is our complaint that Mr. *** overbilled us, illegally took money from our investment account without authorization, and misrepresented himself as a financial advisor licensed with the SEC.
We had hired *** *** to prepare our 2015 tax return. We met with him and gave him all of the information necessary to prepare the return accurately. When we received the bill it was much higher than we had paid previously for tax return preparation. I mentioned this to *** and he stated that it was because if we were ever audited that he could represent us.
In October of 2016 we were notified that we were being audited. At that time we sent the notice to Mr. *** who told us that he would take care of it. At no time did Mr. *** speak with us about billing, have us sign a contract or engagement letter. It was our understanding that this was included in the original fee.
It was at this time that Mr. *** represented himself as a registered investment advisor licensed with the SEC. We gave Mr. *** $35,000 to invest in Vanguard mutual funds. Mr. *** lied about his licensing and when asked about the status of our investment account Mr. *** produced fraudulent Vanguard statements. When we suspected that Mr. *** was committing investment fraud we sent the statements to Vanguard who confirmed they were fraudulent and no such accounts existed.
In December 2016 we received another notice stating we had been assessed over $27,000 in tax. At that time we contacted Mr. *** again and sent him a copy of the notice. I do not believe that Mr. *** did anything with the first notice. When I requested copies of the notes from the auditor( Abdul Momen) to confirm, I was told they were no longer in his possession. On 6/27/2017 *** sent me a text on the final results of audit where he patronized us and congratulated us as he saved us $ 26,037.20. See text message printout and correspondence attached.
In July of this year we received our final determination of the audit. We were assessed additional tax of $3,625.26. This additional tax was due to errors made by Mr. ***. It was about this same time we suspected that Mr. *** was mishandling our funds. We asked for a refund of the $35,000 we had given him to invest. When we finally received the funds Mr. *** took out $5,725 for audit fees he charged us. We never agreed to this and asked Mr. *** to give our funds back in their entirety. We asked Mr. *** to give us a separate bill for the audit fees. He refused and instead of returning the $35,000 he gave us back $28,924.03.
Mr. *** made errors on our return that caused us additional tax. He led us to believe we had paid for audit protection and he would represent us for free if we were ever audited. He then took his fees, without permission, directly out of investment funds he was suppose to be investing for us. We have found out he never invested our money with Vanguard and provided us fraudulent statements. That he is not a financial advisor registered with SEC.
Mr. *** took advantage of us as he knew I was on disability and was battling a chronic illness leaving me bed ridden for months during April-July 2017. *** *** was vulneralbe and he preyed on me.
Character:
Mr. *** has a history of fraud and unethical behavior. In our case Mr. *** not only falsely claimed he was a registered investment agent but he also doctored up fraudulent Vanguard statements. See attached contract with Mr. *** and the fraudulent statements that we were given to us. At this time I decided to research the other licenses Mr. *** claimed to hold.
The CA Department of Real Estate has revoked Mr. ***’s license. Please see attached court decision and fines. The conclusions found Mr. *** guilty of unethical behaviors and the judge stated that his testimony held little weight due to his dishonesty even in court.
The California Department of Insurance has suspended Mr. *** license (#OB69241) due to unpaid child support in the amount of $30,000. It is my understanding that even his driver’s license has been suspended. And yet Mr. *** continues to perform services that he is not licensed to do so.
Lastly I believe Mr. *** is evading his tax obligations by running income through his deceased father’s accounts (*** ***). When Mr. *** refunded our investment money, minus the fees, I found out that the account he issued the cashier check was in the name of his deceased father and mother *** ***. Mr. *** has claimed to have over a million dollars in investment funds yet I have also found out that in his divorce case he claims to make no money and that is why he is unable to pay support. Based on the conversations we have had with Mr. *** he is an extremely wealthy man. Mr. *** is a general partner in an elite investment group called ‘The Cuvee Club’.