Print the value of index0
Sterling Commercial Capital, Brian Opert Similar to the other reports filed on this website, my firm had a similar "bait & switch" experience when I submitted a funding request to Brian Opert, Sterling Commercial. He took up-front "due diligence" money from my client, did no work on the file and provided no funds. New Orleans, Louisiana Nationwide
My expereince was very similar to several prior rip-off reports filed on Brian Opert and Sterling Commercial Capital.
Brian Opert, Sterling Commercial Capital, promotes himself through a website and on conference calls a a direct source of funding for more difficult projects which normally cannot be funded through traditional funding sources. As a result, after I reviewed the Sterling website, contacted Opert and presented a summary of a refinancing and new construction financing for an international residential condominium resort in Central America, Opert indicated to me in email responses and on conferences calls that it was a project for which he was very interested in providing funds. Not once did Opert indicate to my client or me that he was a broker, and that he was not a direct lender. In fact, on his website and on each conference call with Opert he indicated to us that he "had his own money from which to fund projects."
As a result, I then submitted a full project due diligence data room Dropbox to Sterling for review and after a few weeks, received a funding term sheet from Sterling for a loan to fund the Central American resort project. Terms were quite attractive other than the fact that the Sterling loan "offer" term sheet required a personal guarantee from the principal owner/borrower, which my client was unwilling to provide. As a result, Opert suggested that we resubmit the funding request to Sterling as a joint venture or equity funding request in order to avoid a personal guarantee requirement from Sterling.
Therefore, my client resubmitted the funding request for an equity investment in the project, specifically for the purpose of avoiding the Sterling personal guarantee requirement. Sterling then provided an equity investment term sheet to my cliient which also included very attractive equity investment terms and requested a $5,000 due dilgence deposit. This deposit was to be paid up-front before any substantive due diligence was commenced. Upon receiving the deposit, Sterling only then began to look at the detailed data in the due diligence Dropbox data room............
Opert then provided comments and requests from an "underwriter" and started with a few follow-up requirements and questions which were not addressed in the equity investment term sheet or on any of the prior conference calls with my client, in effect, a "bait & switch" process began clearly reflecting new terms and requirements never provided or discussed on our conference calls which reflected a "good cop-bad cop" routine with the "underwriter."
In our dealings with Opert it became clear that he had no intention and/or ability to provide funding for the project financing as requested. He is either a broker of funds from other "potential" funding sources other than his own, or is a blatant fraud who is merely in business to collect due dilgence deposits and then quickly create reasons why he cannot fund soon thereafter. In fact, he starts with a very positive sales pitch and then once he gets the deposit money turns into a person who is "the answer is no-what's your question" person; a "Dr. Jeckle & Mr. Hyde" personality. In fact, Opert appears to be somewhat mentally embalanced.
Proceed with Opert and Sterling at your own risk. Do not pay Opert any up-front "due diligence" money, since it is clear to me that he has no ability to fund any project, contrary to his website information and initial positive sales pitch..............
2 Updates & Rebuttals
Brian
New Orleans,Louisiana,
United States
Phony Rant by Another Unhappy Intermediary
#3REBUTTAL Owner of company
Mon, December 23, 2019
Sterling Commercial Capital’s response to this fraudulent claim is mostly bewilderment. Neither the writer nor the property is identified, so we cannot research the claim. We have no record of this “Central American” deal in 2017 in our files. And the comments are baseless: Sterling has never claimed that “we have our own money”. We always report that we represent several private sources – family offices, wealthy individuals, hedge funds and other private sources, for whom we originate, evaluate, underwrite, recommend and close commercial transactions, which mesh with the appetites of that particular fund(s). Furthermore, we have never offered any financing that involves personal guarantees, so not much of this makes sense. Regretfully, we cannot comment on this claim without knowing that it was a real deal actually submitted to Sterling, as compared to a rant by another unhappy intermediary (like all of the others posted here).
Mr. Tough
Fayetteville,North Carolina,
USA
Mr. Toughs Response
#3Consumer Comment
Tue, July 11, 2017
Opert operates an advance loan fee deposit scheme. I have a Court ordered judgment and am pursuing my damages. He says he has Money...absolutely hillarious. I have his assets and: "On Jun 30, 2017, at 12:12 PM, Brian Opert <bopert@sterlingcommercialcapital.com> wrote: Making a commitment to this amount is problematic. $1,200 is 70% of my ONLY regular/reliable gross income. No Sterling revenues are regular enough to make any such a large commitment. As a realistic alternative, I am able to commit to a number like $300/month and I will add payments if and when other funds are collected. I don’t know another way. (This was drafted yesterday and then the power loss came) Brian A. Opert l CEO l Sterling Commercial Capital, LLC 2930 Banks Street l New Orleans LA l 70119 800-497-8606 l bopert@sterlingcommercialcapital.com l www.sterlingcommercialcapital.com