Abler Financial Deceptive Practices Alberta, On, Canada Internet
We engaged Abler Finance Jan. 9, 2014. We initially enlisted their help to procure financing for for approximately $15MM deal. We were given a pricing and fee structure, an avg.for rates and a Non-Compete/Non Disclosure form along with a Project in-take document. We provided full details of our project to include: an executive summary, 5 year synposis, a one page prospectus and renederings for the real estate. At this point, I was told our loan request would be processed.
On Jan, 17, 2014 I was asked if I would consider a joint a venture partner woud be seeking 25%-30% ownership stake in our project. I agreed to entertain any and all offers. We didn't hear from Abler Finance until Jan. 27, 2014 as we inquired about the status of our deal. After answering questions sent from said potential JV PartnerWe again waited. On Feb 19, 2014 we learned that there was indeed a prospective JV partner interested in our deal and that could supply the funds needed.
After many cancellations and postponements we were finally able to speak Ranil Fernandez via Abler Finance on March 03, 2014. During this call I was informed that the JV Partner Mr. Fernandez had a deal in place with a lender that would fully fund his project. His project was substantial, but he would indeed have enough money left over to fund my deal. Not only would he fund my deal, but do so as a non-recourse venture. Meaning, I was under no obligation to pay back the monies. All that was required of me was to place $105,000 with the lender in an escrow account. I would first be required to place $10,000 into escrow and then I would be able to know who the lender was, recieve the escrow instructions and basically get the terms of the deal. To begin this process, I was required to show I actually had the funds on hand, all $105,000.
After negotiating what the deal would look like, I was reassured over and over that Mr. Nav Shipra had done business with this particular lender many times and had never encountered any trouble what-so-ever. He explicity told me that he had a working relationship with the lender and they shared an extensive history. Mr. Shpra told me he could not give me a previous version of an escrow agreement from a prior deal because that was not allowed by this lender and he did not and could not get permission from either a former client or the lender for my attorney to review. At this point, I knew that the entire deal rested on my ability to trust Mr. Shipra and any and all diligence I could gather.
We did submist the proof of funds and other required documents so that we could continue with the deal. It was at this point that we were presented with the name of the escrow attorney, James Scalisi of Univer Law and the name of the Funding Group, JS Funds. Our major concern of course was the security of our funds and we requested an insurance policy for our funds. Mr. Scalisi was admant in saying that our funds were safe and could be returned to us at any time. We then placed $10,000 into the escrow account. Still not being convinced of what were about to do, we had approximately 10 days to deposit the other $95,000 or risk losing the intial $10,000. I was then put into contact with a Mr. Paul Estolloso of JS Funds. Havig many questions, I asked several of Mr. Estolloso that revealed some very telling details that were unbeknowst to us until this moment. First, the entire deal could be made up of non-recourse funds. This means that the entire loan sum for the JV was non-recourse, not just our $16MM portion.
I immediately questioned Mr. Shipra about this new revolution and feigned shock at the insitence that entire deal was non-recourse. This was telling for me in two ways; either he knew this from the start and was pulling a side, shady deal or he had no clue that the entire loan could be non-recourse because he had never closed a deal with JS Funds as he so vehemently stated numerous times prior. Either way, there was no way in which I felt I could trust Mr. Shipra explicitly. Nor was there any way I would be willing to take all the risk, with my $105,000 in escrow and simply hand over $52MM to Mr. Fernandez. The deal as construed no longer made any sense at all. I tried re-negotiating a more fair deal with Mr. Shipra on Behalf of Mr. Fernandez and all they were willing to offer me was more of the money I was paying for in the first place.
On May13, 2014, I informed Mr. Shipra we could not move forward, he informed me that the JV partner had found another party and was ready to move on as well. In this same correspondence Mr. Shipra stated the due to my "non-performance" that JS Funds would no longer consider funding my deal. I took exception to this, because we had every intent to follow thru on a fair deal and where we ended as opposed to where we started with Mr. Fernandez was a complete 180.
I believed that Mr. Shipra's misrepresentation and incompotence led to the failure of this deal, not our unwillingness or inability to perform. My lawyer agreed and deemed due to negligence and malfeasance, any and all contracts with Mr. Shipra were indeed null and void. At this time I did contact JS Funds and told them that I thought my deal with me was tainted from the start and that is when I learned that Mr. Fernandez, not Mr. Shipra was actually the party with the relationship with JS Funds. By now it was pretty clear that Mr. Shipra had misrepresented hmself completely and his relationship with all parties. Mr. Shipra then contacted me, as I attempted to salvage a deal with JS Funds. He told me that he begged on my behalf for JS funds to reconsider my project, which I knew was not true because I was speaking directly with them.
Ultimately, I believe both parties were in contact with myself and each other and correspondence and information was shared between the three of us and in no way do I feel a deal can be consummated. I have been told that my funds will be returned, but as of June 4, 2014 I have not been fully refunded. I do plan to update this posting in a few days and heopefully by then this will be concluded.
8 Updates & Rebuttals
Viyik
Texas,Abler Finance is a Great Corporation
#9General Comment
Tue, November 04, 2014
Hello,
My name is Victor. I have personally dealt with Abler Finance Inc. and Nav Shipra. I have been able to fund my project that no other finance corporation was able to.
I find it horrible that one client has a complaint and can completely drag the name of good people through the mud.
The internet can be a dangerous thing in the hands of uneducated people. This fellow from Chicago should take a look in the mirror before continuing his tirade online.
This organization and the people involved helps me succeed. That is the real story here.
Thanks, victor.
RBME
Chicago,Illinois,
Nav Shipra
#9Author of original report
Mon, September 22, 2014
Nav,
Just be honest. I was not taken by JS Funds, I was taken by You! You lied too me and told me that you had successfully completed deals with JS Funds, You told me that Attorney James Scalisi was creditable escrow attorney because you had used him in the past. These were all lies, you know it and I know it and now because of your persistence to clear a name that was never without guilt in all this can clear it up in front of an international arbitration judge. You couldn't leave well enough alone and move on, so now I'll make you pay me back my $10K which I was more than willing to chalk up as a learning lesson. Now you'll learn a lesson in humility because you could have just accepted responsibility for your part in this. I and probably others would have known or trusted JS Funds if not introduced BY YOU!
Abler
Alberta,Tyris Maxey
#9UPDATE Employee
Wed, August 27, 2014
Hello Mr Maxey,
This is Nav Shipra in response to your latest out burst.
For some reason, we have not heard from you since our last communication and now we find that you are continuing your smear campaign against our organization.
We request that you begin your lawsuit and we will defend ourselves.
Once again we are back to the same point, you are very upset that you lost your $10k. We understand and respect that. We also continue to work with other parties who have also been taken in by them.
I WOULD LIKE TO OFFICIALLY THANK THE RIP OFF REPORT.
Because of their high google rankings, we have stopped other groups from giving money to JS Funds. We have forwarded them onto the proper authorities as part of their ongoing investigation.
To you Tyris Maxey of Chicago. We still wish you the best even though you continue to smear our good name.
Thanks.
RBME
Chicago,Illinois,
TIRED of NAV SHIPRA's LIES!
#9Author of original report
Mon, July 07, 2014
I tried to give this guy Nav Shipra an out in this situation. I reached out to him and told him "let's forget the past and move on". What does he do...come back to air his greivance with JS Funds. This why every word from him should be discounted as phony:
1. Nav Shipra told me several times that he had done business with JS Funds and had completed Millions of dollars worth of deals with them. So either he was in on the scam to defraud me of money OR he completely LIED about completing those millions of dollars worth of deals! This isn't rocket science. Notice he is not disputing the fact that he told me he had done business with them.
2. Nav Shipra told me that I was partnering with a gentlemen named Ranil Fernandez and for my company providing $105,000 in upfront capital I would recieve a loan. Turns out this Ranil fellow is an associate of JS Funds. Ranil duped Nav and instead of just admitting that and moving on, he is trying to say he has a good name to be smeared. Nav has no name to be smeared, he is a nobody in the lending industry, a complete novice.
Bottom Line is Nav Shipra is a naive little joker broker that was conned, he in turn unwittingly conned me; except for the fact that he flat out LIED too me to get me into the deal. There is no police presence in this deal, because I was the victim and I would have to file any report. I am not filing a report because the FBI and any other law enforcement agency will never pursue JS Funds. Been down this road before, which is why we lost $10K and not $100K. As far as my company not doing any diligence...I am the one that busted JS Funds little scam wide open, Nav would still be at his home office waiting for a check if had not sent him this email:
Follow Up
http://www.jsfunds.com is a fake website full of misinformation-
http://www.robsonhr.com/exec.html
http://www.robsonhr.com/exec.html
http://en.wikipedia.org/wiki/Stewart_Kwoh
http://www.collegecampaign.org/about-us/why-we-do-this-work/stewart-kwoh/
4. Leigh Maxwell Gould- I don't want to be repetitive, but yup! This person is a stock photo as well and does not actually exist!
http://www.masterfile.com/stock-photography/image/614-07031397/Portrait-of-young-female-office-worker-in-front-of-colleagues
Now, if you want to earn that commission, I think you owe it to us to tell me how the "lenders" supposed website seems to be loaded with fake information? If, this phony website has not precluded you from closing deals with them I'd like to know what other discrepancies lies in wait for us? I am sure your attorney can help you understand as ours have done for us, an NCND requires you to work on our behalf and more than one instance we have found out information that Abler was either withholding or not knowledgeable of (Though it should have known). That does not include the above! Our deal requires more than passing paper from "lender" to "borrower". it requires our protection and looking out for our best interest and answering all questions openly and without fail. I believe that you have been dishonest, I also wouldn't expect to find that the entire time of our deal we didn't know our deal could have been non-recourse or that we may very well be dealing with a scam (at the very least dishonest) organization.
You have told me unequivocally that you have CLOSED deals with this group before. That means that you have received a commission from a client that has been disseminated funds from JS Funds. I am asking you flat out if that is the case? If you have paperwork it can be redacted, if you have any proof of this group following through completely with a deal and funds being disseminated to clients I am officially requesting this information. If not I need an explanation in writing to show exactly what your relationship is with JS Funds and how YOU plan to move forward to ensure we are either funded or refunded our money in its entirety!
Now, If Mr. Shipra thinks I am besmerching his good name, All he has to do is continue to piss me off by responding and I can go to the FBI amongst other agencies and he can explain his part to them in this whole mess. I am sure the SEC, FBI, Interpol and others would interested in knowing how he got me too place money with this group of fraudsters and then he can tell them I circumvented him on a scam deal! Clearly he does not understand that if I hadn't forced the issue and simply complied with his meanderings I'd be out of $105,000 and he would be apologizing profusely but not taking any responsibility at all. You wanna play the game, let's get into a court of law and see who wins.
RBME
Chicago,Illinois,
The client is not inaccurate
#9Author of original report
Thu, June 12, 2014
Not only was I not inaccurate, I supplied Abler Finance with every detail they posted. That Information came from me, so there is no way, my company was negligent in performing its diligence. We would not have had the information to find out about the fraud, except for the the fact that we put are money into the fake escrow! I have emails to prove and back up everything I have said. However, I don't like the victim role and am choosing to move on.
I would have never had posted this on a public forum except for the fact that JS Funds black mailed me with the release of my funds from escrow. Once I posted this and a rebuttal to another post, they disappeared. I will likely never see my money again and rather than post on sites like this, I'd rather take the lesson learned and move on.
Just too set the record though, I was never negligent, never resorted to slander or defamation because everything I said was 100% accurate about both groups. Yet, I would have not come to the internet to air it out except for the fact that JS Funds extorted me into doing so.
Never, ever do business with JS Funds!
Abler
Calgary,Alberta,
The Real Criminals
#9UPDATE Employee
Thu, June 05, 2014
anyone reading this report also needs to read the following report.
http://www.ripoffreport.com/r/JS-Funds-Inc/internet/JS-Funds-Inc-Univerlaw-James-Scalisi-JS-Funds-UNiverlaw-and-James-Scalisi-have-all-been-1149733
Abler
Calgary,Alberta,
Client Is Inaccurate
#9UPDATE Employee
Thu, June 05, 2014
Mr Tyris Maxey of RB MIster Enterprises is saying that we misrepresented ourselves and smeering our good name.
The facts are:
1) Tyris Maxey circumvented us and broke our agreement to deal directly with this lender.
2) Tyris Maxey proceeded with dealing with JS Funds without our knowledge and conintued with his transaction
3) When Tyris Maxey decided that he did not want to continue, JS Funds did not return his funds
4) Tyris Maxey came back to Abler Finance to ask for his funds after he had circumvented us
5) UniverLaw and Js Funds are fraudululant
here are the facts:
jsfunds.com is a fake website full of misinformation-
1. Craig Leaf- There is no such person. The picture for the person listed as Craig Leaf is actually from this website:
robsonhr.com/exec.html
http://www.robsonhr.com/exec.html
http://en.wikipedia.org/wiki/Stewart_Kwoh
And he does this:
http://www.collegecampaign.org/about-us/why-we-do-this-work/stewart-kwoh/
4. Leigh Maxwell Gould- I don't want to be repetitive, but yup! This person is a stock photo as well and does not actually exist!
masterfile.com/stock-photography/image/614-07031397/Portrait-of-young-female-office-worker-in-front-of-colleagues
The following law authorities are fully involved in the investigation that Abler Finance Inc. is fully engaged with:
4) file with IC3,
5) Hong Kong Police
I would strongly suggest that everyone stay away from the following entitites:
1) JS Funds
2) UniverLaw
3) Dreamscape Capital
4) Neil Scope
5) Gary Moore
6) Stark Royce
7) Tom Goldman
8) Dr. James Royce
9) Paul Estolloso
These people are fraudulant and run major financing scams around the world.
Thanks, Abler Finance.
Abler
Calgary,Alberta,
Client Is Inaccurate
#9REBUTTAL Owner of company
Thu, June 05, 2014
This Client, Tyris Maxey of RB Mister Enterprises has fully disclosed his viewpoint of what he consider misrepresentation.
What Mr Maxey has failed to report was that his own attorney did not dd proper due diligence when it came to UniverLaw and Mr James Scalisi. This whole transaction has been a scam by JS Funds and UniverLaw.
Abler Finance Inc. is fully co-operating with the authorities to apprhend these criminals.
Unfortunately, Tyris Maxey has no one else to blame for his circumvention and actions when it come to JS Funds and is now trying to smeer our good name.
Mr Maxey should be aware of the following before he continues down this path:
They say that Abler Finance is disgruntled but here are the facts:
The following law authorities are fully involved in the investigation that Abler Finance Inc. is fully engaged with:
4) file with IC3,
5) Hong Kong Police
I would strongly suggest that everyone stay away from the following entitites:
1) JS Funds
2) UniverLaw
3) Dreamscape Capital
4) Neil Scope
5) Gary Moore
6) Stark Royce
7) Tom Goldman
8) Dr. James Royce
9) Paul Estolloso
These people are fraudulant and run major financing scams around the world.
Thanks, Abler Finance.