Complaint Review: Principal Acquisitions - Orlando Florida

Principal Aquisitions Steals Money and Doesn't sell your buisness. See the article below about the buisness valuation scam www.entrepreneur.com/management/legalissues/article173648.html Following is the article itself. Common Small-Business Scams Protect your business by getting familiar with some of the more creative scams entrepreneurs are falling prey to these days. By Rich Mintzer | January 25, 2007 Valuation Fraud "The business sends faxes asking if you're interested in selling your business," says Sue McConnell, PR director for the Cleveland Better Business Bureau. "If you want to sell your business, they claim they'll find buyers interested in your company. You send a fax back, and they send someone to come out to speak with you. After that, you pay several thousand dollars in advance to have a valuation done to determine what your business is worth. After you've paid, they disappear," explains McConnell, whose office has issued a warning to the local media and on their website after this scam was reported by several area business owners who'd been duped. According to the warning issued by the Cleveland Better Business Bureau, "The Secret Service is investigating complaints from hopeful sellers who report they were duped into paying advanced fees ranging from $5,000 - $11,995 to Global [Business Acquisitions] for the valuation. Once the fees were paid, Global made no further attempts to assist the seller with finding a buyer. Although Global promised to refund the fees upon request, victims who tried to get a refund were either denied or discovered the telephone number was disconnected." Smart Tip:Think twice before pursuing any faxed inquiries about selling your business. Always check a company's references before pre-paying for any services.

Principal Acquisitions is a direct copy of AAA. I know an ex AAA employee who worked for Principal Acquisitions and Principal was Founded by Carlos and Alex who both worked for AAA. They paperwork was copied verbatim. AAA was several other companies before it was AAA and all the other companies did the same thing but the legal entity had to be changed when the year was up and people wanted the guarantee to be honored. GE took off after a bunch of ex Norvergence employees were hired and proved to be great at looking the other way if the money was right. Norvergence did do one thing right it trained people how to do the reverse sell. You want what you can't have, "we have to approve you". Weather it's the review committe or the circuts available in the area it all turns out to be the same process. These scammers tell people it's too good to be true and prove it is by not letting them have it(or so they think), they convince them they will be lucky if they are approved and the check is cashed. This is a scam that uses greed in reverse to steal money. People want what they can't have, that is why this thing works so well, it sounds like there is a bunch of idots out there lying down and giving their money up but there is a savy psychological trick being used on these people and it works really well. Why else would someone give a 10k check to someone they just met? All these companies selling buisness valuations are doing it. Guess what, you can get a buisness valuation for $2000 any day from an accountant with the right credentials, you can probaly shop around for one and get it for $1000. That's what all these buisness owners are getting and AAA, Lyons Group, Premier Acquisitions, Legacy Acquisitions , Fidelity Acquisition, Principal Acquisitions, are all giving these buisness owners buisness valuations worth 1k-2k if they even get the valuation. Even if the buisness gets listed it's still a scam because any buisness owner could list their buisness for free on any number of sites, the very same sites these companies are using because it's free. And guess what if any of these companies even sell a buisness it's still a scam because that's just luck. Find out the closing ratio and get proof. I guarantee it is less than one tenth of one percent. Don't be satisfied with speaking to one two or even three references these companies are all scams. List your buisness yourself on the same sites they use. Buy your own valuation from an accountant who does valuations and get rid of these middle men scam artists.

Upon further review of these two characters they are being investigated by the united states secret service and possible Incitements are coming. I also could not confirm whether they are not convicted criminals . there appears to be a record on both.

Upon further review of these two characters they are being investigated by the united states secret service and possible Incitements are coming. I also could not confirm whether they are not convicted criminals . there appears to be a record on both.

Upon further review of these two characters they are being investigated by the united states secret service and possible Incitements are coming. I also could not confirm whether they are not convicted criminals . there appears to be a record on both.

Upon further review of these two characters they are being investigated by the united states secret service and possible Incitements are coming. I also could not confirm whether they are not convicted criminals . there appears to be a record on both.