Complaint Review: Wright Capital Corp. Abilene TX

I have recently had a client lose a $25,000 nonrefundable retainer to a company that represented themselves as a lender. The company is Wright Corporation LLC of Abilene Texas. The president of the company is Justin Wright.

This company provided a term sheet to my client for a mezzanine loan and required the fee for purposes of underwriting, site visit, appraisal etc. which seemed normal. Once Wright Capital Corp. received the money, communication fell off. It may be just coincidental but the week after we sent the wire, their Executive Vice President, Daniel West, went on vacation and was unavailable.  Prior to receiving the money, Daniel West promised a commitment to lend contingent on appraisal the next day.  He lied.

It took six weeks to receive something from them on their letterhead that they called a proposal/commitment which required another $100,000 from my client to move forward and be underwritten. When my client refused to pay the $100,000, Wright Capital Corp., Justin Wright and Daniel West informed him their job was done and they would be keeping the $25,000.

This company may actually do legitimate business but they walk the fine line between between civil and criminal by taking in these fees for which they do absolutely no work while they continually tap their existing clients for return business. 

The FBI doesn't seem to want to get involved and no one seems to be willing to take people like this to task and actually hire an attorney and sue them so they get away with it. 

Do not send this company any money.  They may look like a legitimate company, but just scratch the surface and they are just like every other liar and crook out there.  They will take your money and never call again.