Complaint Review: Alliance Acquisitions Associates

On March 23, 2005, I met with a representative from Alliance Acquisitions Associates and he looked over our inventory and our assets along with copies of our Income Tax files. He told me that he felt very confident that Alliance would have a buyer within the year. He said that I would need to give them a check or credit card in the amount of $5,000.00 for them to be able to proceed with the valuation of my business.

I signed the contract for one year and was told if they did not have a qualified buyer for me within that year that the $5,000.00 that I paid with credit card would be fully refunded. I asked him several times before signing the contract that the $5,000.00 would definitely be refunded if no buyer was produced and each time he stated in a matter of fact way, Yes, It will be refunded.

During the years time, no qualified buyer was ever introduced to me. It is stated in the contract that "The refund is applicable if the seller has not been introduced to at least one qualified buyer, investor, or capitol funding source within 12 months from the date of the agreement. A qualified entity is defined as those who represent to Alliance Acquisitions Associates that they are interested in the general type of business, general location and fair market value of Owner's Business. In the event of a refund the seller may maintain possession of the Third Party Valuation."

When my year's contract was up, I proceeded to call Alliance Acquisitions Associates to tell them to refund my $5,000.00. I could never reach Randy Hicks or Mike Moran or anyone that I had previously communicated with. Then they sent me a form showing some Capital Funding Sources, but again that was not done during the 12 month time frame. In the first place, I was not interested in partnering with a Capital Funding Source, I was only interested in selling my business.

So, yes, I am among the hundreds that have been ripped off by Alliance Acquisitions Associates and I want to do what I can to keep others from getting ripped off and to get my $5,000.00 back

Brad
Alton, Missouri
U.S.A.