Alpha Capital Group ripoff dishonest and unacceptable Loan Business Practice New York New York
Alpha Capital Group contacted us on 07/10/2006 that we have been approved for a secure business loan of $10000 payable over a period of 4 years at a fixed amortized rate of 9% and a monthly payment of $248.85 USD per month.We were told to send an insurance deposit totalling $746.55 USD through western union and the $10000 loan will be deposited in our account within 24-48 hours.The loan agreement was faxed to us for signature,upon signing we faxed them back and then sent the insurance deposit through western union across to their designated lender in canada.We expected deposit as agreed only to be told that the lender requires more $500 deposit before he can release the loan,we again went borrowing to send this money again to the same lender through western union the waiting game again continued for more than 48hours for the deposit.We contacted them only to discover that they require additional deposit of $500.We argued that this was not our agreement but they promised that this would be the last deposit from,they even faxed us a promissory note saying we will have the loan within 3 hours of the receipt of our deposit.For the third time we sent another borrowed $500 to the same Canada based lender through western union.We have documents to show as proves.On the 1st of August we waited endlessly but nothing came through,we decided to call them again as usual only to be told that the Lender's account has been frozen and so we will need to start afresh with another Lender with another deposit of $746.55 USD.We asked for a refund at this time to which they insisted will be paid back within 30 BUSINESS DAYS against the 30 DAYS stated in the agreement.
We borrowed the money we used as deposits with the hope that we will pay back as soon as we have the loan but right now we are neck deep in debt not knowing where to run to for help.Total insurance deposits including western union transfer charges is $1893.52 USD.
We can fax all agreements, promissory note and western union receipts across if required.
Oyindunmola
Plano, Texas
U.S.A.
1 Updates & Rebuttals
Oyindunmola
Plano,Texas,
U.S.A.
Let us Unite to fight ALPHA CAPITAL GROUP
#2Author of original report
Tue, October 31, 2006
I understand from ANN ARBOR's post that reporting to the FBI was a proper course of action to take. Has anyone amongst us reported to the FBI or have we all sat back and complained the heck out of it? I believe that if everyone took the time to report and let the FBI handle it, even if we don't get our money back , we will stop this thieves from ripping off others.
As it is, we all are unconciously letting this people get away with this. Is that really what we want? I doubt it, or else why did we post our experiences here?
My husband reported our case to the better business bureau and their response was simply that they can't get hold of them.
If anyone lives in New York, please check out their office address and see if they left a forwarding address or phone number.
I would say let's all set a dead line of the 15th of November to report our individual cases to the FBI offices nearest to us.