Complaint Review: CPA Exchange Services

Started attending Real Estate seminars about year ago. Traveled out of town for a seminar concerning using your IRA's to invest in Real Estate. Instead of learning a lot about it the seminar consisted of one guest speaker after another pedaling an overpriced book and CD kit on how to do different things concerning real estate investing.

One guest speaker, Al Aiello, gets up and pedals his Tax saving strategies for Real Estate investors. Says he's cutting everyone a deal at the seminar because we paid to be there. Go home that evening and find out he's selling it cheaper on a website called Dealmakerscafe.com.

I purchase the kit online since it is significantly cheaper. I had a deal coming up and could read the stuff fast enough. I email Al and ask him to refer a CPA that is inline with his strategies. He recommends Steve Venuti of CESI, his partner.

I call him a few times asking him technical questions concerning what entity to form to hold rental property etc. He says I need a commitment from you that you will use my services and asks for 500 dollars retain. I thought this was wierd, but he's the supposed guru so I send it Fed ex.

He then replies in an email that the 500 will be used for consultation at 100 an hour. I tell him to send the check back. He gives me phone number of a client of his and I call them and they rave about him so I decide to stay with him. My real estate deal falls through, but I have him do my personal taxes with no real estate in my portfolio other than a vacant lot, just to form a relationship with him for when I do start real estate. He says I'll put the 500 towards the taxes and need 125 more. I say ok.

Now we are up to 625 for a simple personal return. He finishes my return and starts to try to nickel and dime me. Says my taxes were so complicated, he spent hours on some of my stock trading etc and wants more money. I tell him if he doesn't accept the 625 then send everything back. He does and keeps the 500 bucks. I asked him to create extensions because I will now not make the deadline. he does and on the extension it says I owe 800 bucks to IRS.

I scramble to find a new CPA. He has a few questions and next thing you know I"m getting back 3300.00. I've asked steve several times for the 500 bucks back for no services rendered. He refuses and refers me to his lawyer.

I email Al Aiello as the guy who referred me and Al gets nasty and says he's a well known figure on the seminar circuit and that he will report me to local florida boards, of which I have no idea. Because I'm not a real estate professional, I'm just an average guy try to get ahead by getting into some rental property.

So, I'm not worried about my day job. I have vowed to let all investors know about how I was treated so he doesn't get away with this again. Also, I filed a complaint with the BBB.

Frank
Miami, Florida
U.S.A.