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  • Report:  #523528

Complaint Review: Jon Elayda

Jon Elayda Comentum Capital Deceived our company about Funding after 3 months and made us lose business for $200,000.00 Houston, Texas

  • Reported By:
    Abel — Houston Texas Afghanistan
  • Submitted:
    Sat, November 14, 2009
  • Updated:
    Thu, December 22, 2011

Jon Elayda who supposedly owns a company called Comentum Capital offered us to fund Purchase Orders that were securly factored by our current factoring company.



He first made us correct financial statments by hiring a special CPA and spend nearly $5,000.00 just to fly down to meet with him and pay for CPA services.



After they were supposedly corrected which that was not the case because the ended up being 95% similar to the ones we had pulled from our quickbooks he started giving excuses of funds supposed to be wired to our account and then never got there because of bank errors.



After that he took 2 more months promising funds for ordering product to our suppliers every sngle week and never coming true due to various unbelievable coincidenses or excuses.



Actually in the last two weeks he put himself as a victim of his supposed dyalisis every single day, when we met he was only doing that every time he didn't want to talk or didn't have an answer to give to us.



Our customers have deadlines like every company to supply and they had given us POs with enough time ahead for us to supply and deliver.



Since Jon Elayda not only promised but assured us even by having us and our supplier sign letters of assignment of funds we believed his business was real, so by the time we waited and waited it was too late to find other ways to look for funds and we lost our orders and that really deteriorated our relationship with our customer to an extent that he is not interested in keeping us as suppliers anymore.



This customer of ours would order somewhere around One Million dollars in POs for 2010 and we just lost him for good.



This is why we file this report, we may not be able to get our customer back now but we really want to prevent other people from dealing with this guy and suffering just what we went through due to his lack of seriousness and responsibility.



We have written proof of everything stated in this report to whomever may need it. Even emails where Jon Elayda assures funds or things being ready. 

4 Updates & Rebuttals


3rd

Seattle,
Washington,
United States of America

You were not the only one who was deceived

#5Consumer Comment

Thu, December 22, 2011

Jon Elayda also deceived the Investment Center.  He was fired because he was not doing his job right. He has been screwing up clients information left and right. He is such a scam artist.  He is also a liar and will tell you anything to get out of the situation.  There are a couple of folks I know that is in the process of a law suit.


3rd

Seattle,
Washington,
United States of America

I am not surprised at all and there is definitely a pattern here

#5General Comment

Sat, October 29, 2011

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 expected remittance to be made within thirty (30) days of his receipt of this instruction in accordance with the terms of our contract agreement he provided, which was paragraph 4 section 4.2 

I 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 

At that time 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.

On15 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.   

As of now he has been docking and dogding.    


Abel Murillo

Houston,
Afghanistan

REPLY TO JON ELAYDA'S LYING REBUTTAL

#5Author of original report

Sat, December 12, 2009

My answer to this person called Jon Elayda:



Absolutely never can a person hide if he calls his supposed financier 10 times a day looking for him and he can only hide from you by letting his phone take his messages.



We can prove with written emails like this one here below:




Email from Jon Elayda Sep 2nd, 2009:




Abel,

 

Be advised funds have been wired, funds will post later today ealy tomorrow.

 

Regards,

 

Jon Elayda

Chief Executive Officer

Operations Treasurer 

COMENTUM




Email from Jon Elayda Sep 4th, 2009:



Abel,

 

We are having severe difficulties with our banking issues. Some of or wire transfers are not going through due to apecific banking issues. Our wires are being investigated by our bank for specific issues we have not been told.

 

All morning we have been trying to deal with our banking issue since the investigation is holding all our transaction both internal and wires outstanding.

 

This is an unforseen issue on our part and we are trying everything we can do correct the matters at hand. We apologize for all the delays.

 

Regards,

 

Jon Elayda




Email from Jon Elayda Sep 17th, 2009:



Abel,

 

We have been monitoring the accounts for posting of the funds. Even after 5 pm central, accounts are still listed as pending and not posted. Quite trivial for us. As of this evening, we have yet to see the funds as posted. Pending status is still the position those funds. Will have to wait till morning Friday to verify and confirm.

 

Sorry.


Regards,

 

Jon Elayda




Email from Jon Elayda Oct 15th, 2009:



Abel,

 

The misappropriated misfortune of luck was not only reserved for you in this situation, it has affected us as well. Investors are very finicky when it comes to risk expsures of their money however, we have made all the necessary efforts in revitalizing the concerns of our investors after some influential changes we have made in our comany ranks. In the events that followed, we were fortunated in rebuilding our crdibitlity and integrity with our investors that we were able to confirm previous pledges from our investors to back us in our past and future transactions.

 

We are in process of having the wires funded to you as discussed but delays were caused as of my condition. My condition and illness should not be an excuse rather given process delays. We will fund your transactions and have requested our investor to fund you transaction directly rather than passing the funds through us directly prior to funding you. Your frustration is a given. What frustration we go through in the process is not a relevant concern for you since your concerns are more focused with your entity.

 

We will notfiy you of the process and whar funds our investor will deliver to you. We requested an inital injection of 37500 and next tranche within a week as prescribed by your transaction. Secondly we have also notified our investors of the return on the money cost of which our investor will command most of it in this process.

 

Regards,

 
Jon N. Elayda 
Comentum Capital 
Opportunities, Inc. 





Whenever you feel like getting a Yoda language type of excuse you can always

find Jon Elayda. He writes emails in a way you can see he's running away from his commitments. 



I got more emails like these ones plus written papers specifying that everything was approved and ready to go.



These delays from Jon Elayda made me lose not only $200,000.00 worth of sales, but the stability of my family and business for a whole year since my strong sales were coming from October, November and December.



Plus the fact that our biggest customer no longer trusts our company and is looking now to replace our products.



What a way to go for Jon with his *Customers Don't you think?



He could very well be suied for this and another company was also put in the same spot and I know they are intending a law suit against him and asked me to join them. I am seriously considering it.



Abel M.



Jon

Houston,
Texas,
United States of America

No Good Deed Goes Un-Punish

#5REBUTTAL Individual responds

Fri, December 11, 2009

Complainant was referred to us by his previous funder to assist complainant with getting his paper work, accounting and procedures up to snuff to qualify with lenders of PO and factor fundings.

We must submit financials and contracts satisfactory to lenders from any company desiring to use this type of funding.

We worked with complainant to get his paperwork and accounting into a form satisfactory to lenders' requirements. Complainant consistently missed meetings to address these concerns claiming he was in Mexico all the while, it turns out, he was hiding in Houston.

Funds were available if the lenders' qualifications were met. They were not. Complainant did not qualify, therefore funding was not completed.

We were asked by complainant's previous funder to help him, which we tried to do, but he didn't qualify and now we have to put up with his spiteful, immature petulance.

Sincerely,

Jon Elayda

Comentum Capital Opportunities

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