INVESTORS PORTFOLIO (Fayetteville, NC): This "company" promotes itself as a source of financing for real estate development and business expansions/start-ups. They (the principals; Emmanuel and Demetria Brooks) state that they represent a group of private investors who wish to remain anonymous, but whom have "millions of dollars" to invest in worthy projects. After an initial interview and small processing fee, they announce that they can provide the inquiring individual or business with as much funding as required for the project/development. They however require that the entity looking for financing pay in a relatively small equity investment of their own (the actual amount varies according to the size of the financing amount). In my case $6,000 for a $300,000 loan (which carried a 3.5% interest rate). My investment was increased to $10,000 when the project evolved into a much larger real estate acquisition and development project in which I was going to participate.
The loans have a very low rate of interest which when questioned about was explained as "still a lot more than what the investors would be getting on a CD or alternative investment and that the investor's investment was secured against the property". Further, the investors were intent on helping small businesses and individuals achieve their goals and were satisfied with this rate of return.
After paying the "equity" investment the "clients" are told that the financing will be made available within 8 weeks. Of course, the financing never materializes. When questioned, it is explained that there was a minor problem of some sort that would be resolved soon. There appears to be problem after problem and the money is never available. When asked to return the equity investment the client is ignored.
Of course civil litigation is an option, but for the relatively low sums of investment it is hardly worth it. The legal fees would exceed the claim, and the money is likely gone anyway.
Consumers should be aware that this "company" is a complete sham. There are no secret investors behind any cloak or curtain. The "executives" that the principals hire have likewise been duped into working for nothing; being promised big payoffs when the deals finally materialize.
In retrospect it is plainly obvious that Investors Portfolio is a bona fide sham, however they represent themselves fairly well and people looking for funds to launch a new venture or expand an existing one are inclined to be fairly desperate these days. It is a classic set-up for a rip-off. Do not be taken like I and many others have been. Charges have been filed and at least one lawsuit initiated; you can check the records to verify.