Armand Franquelin Global Real Estate Network Borrowed money and agreed to pay 14% but is paying nothing and not paying the principle either Ogden, Utah
I met Armand Franquelin through a James Smith Real Estate Seminar in Salt Lake UT. Armand was a prized Real Estate Developer working with James Smith in the Vernal UT area. He was borrowing money to finish off a development and willing to pay 14%.
I loaned him a significant amount of money and for the first two years he paid as agreed. Then the real estate market crashed and payments got moved out. He asked me to move my payments to maturity dates and he would not only pay the interest but pay off the principle as well.
Today, some two and a half years later. I still have no payments and no pay off. Armand owes me well over $300K. I believe he has lost all his own personal wealth and has suffered from health problems. Do not do business with him.