Complaint Review: Cornerstone Capital Investment Corporation

The following is a rebuttal to this gentleman and his claim that Prophecy Financial Group was involved in some type of deceptive or illegal activity.

Prophecy Financial Group (PFG) is an independently operating business, being involved in real estate project development on a consulting basis which includes, among other responsibilities, assisting project ownership with the formation of business plans and bankable documentation packages, underwriting services and the provision of potential pre-screened sources of funding for their applicable project financing requirements. 

Twenty four months ago, PFG was introduced to Cornerstone Capital by an independent third party as a possible project funding source. PFG performed initial due diligence and, at that time, it was determined that Cornerstone was an acceptable source and was added to the PFG stable of financial services firms available to their client base. PFG was never a subsidiary or affiliate of Cornerstone Capital and operated only as a referring consultant.

Any clients that expressed an interest in dealing with Cornerstone were specifically informed that although preliminary due diligence was performed by PFG and there was no evidence of any type of underhanded business practices in the past, that they should have their corporate attorneys perform an independent  inquiry as they would ultimately be responsible for their own decisions.

Unfortunately, over the past eighteen months Cornerstone Capital has apparently encountered many financial, structural and performance issues causing the company to underachieve and as a result, a number of projects have not been financed as contracted by Cornerstone. Deposited contracts stipulated a refund clause based on performance but, to date, Cornerstone has neither returned the clients deposit funds nor provided them with project financing. What created this series of events over time has yet to be determined, but it is PFGs’ hope that these matters will be resolved by Cornerstone in the very near future.

Inappropriately, PFG was inadvertently blamed for the non-performance of Cornerstone although PFG was exclusively and contractually representing their clients’ interests during the process and is currently assisting those clients in an effort to recover their deposit funds or receive funding for their projects.

To add clarity and for the record, PFG was never involved in the handling of client deposits or contracts with Cornerstone. Additionally, PFG did not charge for or receive any fees or payments for services rendered to the clients during the extensive documentation package preparation and underwriting process as PFG does not accept remuneration of any kind until a successful transaction is concluded.

PFG has obviously distanced themselves from Cornerstone due to these extenuating circumstances, including the lack of performance indicated above, and have since altered their core business by forming very strong business and personal relationships with a select few solid, reliable and successful banking and financial services firms to provide their clients with conventional and alternative project financing rather than maintaining a stable of many firms with lesser relationships. With that said, PFG continues to successfully provide project ownership with the appropriate capital stack necessary to facilitate the financing requirements of major US real estate development and construction projects on an ongoing basis.