- Report: #1465206
Complaint Review: Momentum Solar Ivy League Scam Artist – Sung Lee – West Point and Harvard Graduate MomentumSolar.com NJ NY CA TX FL Solar Lease Scam - South Plainfield New Jersey
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Momentum Solar Ivy League Scam Artist – Sung Lee – West Point and Harvard Graduate MomentumSolar.com NJ NY CA TX FL Solar Lease Scam
3096 Hamilton Blvd South Plainfield, 07080 New Jersey, United States
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momentumsolar.com
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Momentum Solar Ivy League Scam Artist – Sung Lee – West Point and Harvard Graduate, MomentumSolar.com, NJ, NY, CA, TX, FL Solar Lease Scam Pro Custom Solar Solar Lease Scam, Ripping Off Customers with Deceptive Practices and No Savings with Lease Products. South Plainfield New Jersey
I had been working in the Momentum Solar also know as Pro Custom Solar accounting department for more than a year and the things I have witnessed will make you sick to your stomach. It’s a real American Greed / Dateline story that you'll see on television in the future. This could be the biggest scam in the history of solar renewable energy and after the dust settles you will see the Sunnova and SunRun investors and the homeowner customers holding the bag. The residential and commercial solar systems that Momentum installs will fail in 5-8 years and the lease financing product that Momentum pushes to homeowners is intended to make the investors and Momentum partners filthy rich -- all at the expense of the homeowners.
If you have a solar lease through Momentum you should know that you are paying interest on top of your electricity bill and your electric bill will be higher than your utility in a few years once the payment escalator kicks in. The whole thing is a scam and the installations are done with the worst workmanship in the industry. I’ve seen everything from covering up exhaust pipes with panels on the customers roof to doing jobs without permits. Try selling your house with one of these solar leases – NIGHTMARE!!!.
The mastermind behind this solar scam is Sung Lee. Sung Lee is a graduate of West Point and Harvard University. Sung worked for Morgan Stanley Mergers and Acquisitions before he became a partner at Momentum Solar. Arthur Souritzidis is the CEO of Momentum Solar, from what I understand he hired Sung Lee after he realized that he had no idea how to run a company and the Sunnova claw-back situation was completely out of control.
Sung was the Morgan Stanley person who brought SunRun to a public offering before coming on board with Momentum. After Momentum got into red with Sunnova to the tune of $40 million dollars, Sung was instrumental at convincing SunRun to finance and fund the lease projects going forward. Momentum has a 55%+ cancellation rate, since more than half of the clients cancel after they sign, this creates a massive negative for the company and puts them in a continuous negative claw-back state.
Sung keeps 2 sets of books at the company, one is the real set for him and the partners and the other is the one for its investors. Sungs’ number one priority is hiding, lying and disguising the entries to investors about the number of cancellations. Sung has many creative ways to funnel cash out of the business including their new Smart Home entity. You would think that an Ivy League executive would want to do well for his customers especially in the renewable business. Not this guy. He is super shrewd and does not care about anything other than making his money – AT ANY EXPENSE, EVEN YOURS.
Take Action Now.
IF you have solar from Momentum solar and it’s been installed already, then you should call Momentum and the finance company (Sunnova or SunRun) you are with and tell them that you want the escalator payment removed from your account immediately and insist that you get a fixed rate under .12 cents per kilowatt. If you do not get relief then you should file a complaint with Consumer Affairs. If you signed with Momentum and you have not been installed yet, then cancel them right now. Do not believe anything they say.
Do what you can to put these guys out of business immediately. Sung Lee has absolutely no integrity and he took his Ivy League education and Morgan Stanley experience to rip off New Jersey, New York, Florida, California and Texas families with fake solar.
1 Updates & Rebuttals
John
Florham Park,New Jersey,
United States
LEGAL NOTICE
#2General Comment
Wed, January 23, 2019
To "Mary - Metuchen NJ United States": This notices you that Pro Custom Solar LLC d/b/a Momentum Solar ("Momentum”) has filed a lawsuit against you in the Superior Court of New Jersey, Chancery Division: Middlesex County, General Equity. The lawsuit is styled Pro Custom Solar LLC d/b/a Momentum Solar v. John or Jane Doe, Docket No. MID-C-11-19. In this lawsuit, Momentum asserts a claim for defamation and seeks, inter alia, permanent injunctive relief to obtain the removal of the statements you made on this webpage. Momentum has prepared and will file a Motion for Leave to Issue Subpoena to Xcentric Ventures, LLC, which is the operator of the Ripoff Report website, for documents and information sufficient to identify you. The requested information includes the IP address, name, address, email address, address, and phone number for you as well as the date and time this report and all respective comments were made. You have the right to timely and anonymously file and serve a response objecting to the motion or subpoena by filing the response with the Superior Court of New Jersey, Chancery Division: Middlesex County, General Equity, located at 56 Paterson St., New Brunswick, New Jersey 08903-0964. A copy of such filing should be served on Plaintiff's attorneys at: John P. Campbell, Esq. SCHENCK, PRICE, SMITH & KING, LLP 220 Park Avenue Florham Park, New Jersey 07932 (973) 539-1000 The response must be filed and served prior to the date set for the submission of the motion to the Court, which will be February 15, 2019 at 9:00 a.m.
