Comentum Capital Opportunities Highfalls Capital Jon Elayda is a scam artist and needs to give me my money back Houston, Texas
On 04 DEC 09, I wrote Jon N. Elayda, CEO of Comentum Capital Opportunities, Inc to authorize him to liquidate my investment; Account Number HCCFR-1016 5758 and remit a check representing proceeds to my mailing address. I estimated the balance as of 04 DEC 09 to be $49,553.37. I expect remittance to be made within thirty (30) days of your receipt of this instruction in accordance with the terms of our contract agreement he provided, which was paragraph 4 section 4.2
I also requested him to please prepare a pro-forma tax statement for me to use in estimating any tax obligations I may incur from this transaction. I understood that a Form 1099 would be mailed to me in January 2010. I also asked him to please contact me directly if he required clarification or any additional documentation to execute this transaction. I expected payment within 30 days.
The dispute arose On 05 MAR 10, when I wrote another letter to follow up my request dated 04 DEC 09 requesting payment to me of my principal and accrued interest on the above-referenced account. That letter constituted formal notice to him as provided in section 6.8 of the Placement Agreement executed by Elayda on 20 MAR 08. Since my initial notification, it has been 60 days from his receipt of the initial request - as evidenced by the Certified Mail receipt executed by his office on December 07, 2009.
At this writing, he made no response regarding redemption of shares nor have I received a Form 1099 reporting earnings for 2009 from Elayda. In fact, the only statement of interest earnings I was provided was for the quarter ending December 31, 2008 Certain disclosures normally provided on a Form 1099 (such as Payors Tax Identification Number) have not been reported to me.
I notified him that if I do not receive a written response to this request by March 15 (90 days from my initial request) regarding payment of principal and accrued interest, I will consider his actions to be non compliant with the terms of the Placement Agreement and will formally report your actions to Financial Industry Regulatory Authority as he was a licensed broker with Investment Center of Tanglewood (CRD# 2596623) at the time the contract was executed. I also reported his questionable tax reporting practices to the Internal Revenue Service.
Again, I asked him to please contact me directly if he required clarification or any additional documentation to execute this transaction. If payment was not received, I will proceed with contacting FINRA, the Internal Revenue Service and/or any other forum, including the Texas State Attorney Generals Office and the Securities and Exchange Commission, to enforce payment.
On 15 MAR 10, (18:23:03) Elayda sent me an email and an attachment stating:
Not trying to give you the idea that I am not available but have been extremely busy. Were you able to receive your year end statements as requested.
As for additional information, we are working on finalizing a joint venture agreement with our partners to put our investment to a close with them. I have attached the copy of the LOI which was revised throughout our negotiating period with our advisers and investors. For your eyes only.
This positions Comentum and its investors into a position of control of the new company and how the distribution of shares of the new entity will be awarded to Comentum after the operational period of five years. THis is the main result why our liquidity is enormoursly limited due to the functionof dealing with the banking regulatory involvement of closing our investment banking deal as well
as the outstrech of the additional liquidity to our clients.
Regards,
Jon N. Elayda
Comentum Capital
Opportunities, Inc.
19 Briar Hollow Lane Ste 125
Houston, Texas 77027
Ofc: 713-465-1001
Fax: 713-532-3433
Cell: 713.449.5607
I then reported Elayda to FINRA on 23 MAR 10 (Filing ID:720968), Attorney General of Texas on 01 APR 10 (ID: H337424), and the Internal Revenue Service (REF: 0855875309) for non-compliance with the terms of the Comentum Captial Opportunities Placement Agreement (Account Number HCCFR-1016 5758).
On 30 JUN 10, 1130 PST, I contacted Elayda at his 713.465.1001 contact number and asked him as to when would I expect my investment. He replied by informing me that the Investment is in the process of liquidation so that he can write me a check.
To this day, I have not received my investment.