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Orange Crest Realty - Ronald Shade, President renaged on its contract with me and owes me the $50,000 I originally invested plus $750/mo interest since February 2008 Riverside California
I learned of Orange Crest Realty in the business pages of the LA Times and on July 9, 2007, I loaned the company $50,000 for a 24-month term at 18% interest that was supposedly secured by a Deed of Trust. The promissory note stipulated that the company would remit $750/month interest starting August 2007. The interest was paid through February 2008.
In October 2007 I wrote them, asking for my money back, something I was assured I could get by a company employee, Tina Anderson, with a 30-day written notice. Since that time there were many letters and phone calls asking for the money and all kinds of promises were made.
On April 22, 2008 I received a letter from a Ms. Stewart assuring me obligations to investors would be fulfilled within the next 30 days and then a letter I received on May 16, 2008 indicated that funds were in place to repay investors who wanted to be released from their obligations.
On May 27, 2008 I wrote Orange Crest, again requesting the return of my $50,000 in addition to interest then due of $2,250.
Since then, nothing.
I plan to write to the Consumer Fraud Division of the offices of the District Attorneys of LA and Riverside Counties, the Department of Real Estate, and the Better Business Bureau.