- Report: #1425189
Complaint Review: SIDNEY SCHLUSSELBERG - El Paso Texas
Reported By:
Scam Buster -
Rockville, Maryland, United States
Submitted:
Updated:
-
Author Confirmed
Why?
SIDNEY SCHLUSSELBERG
201 East Main St Ste 1515 El Paso El Paso, 79901 Texas, United States
Phone:
814-920-8942
Web:
https://www.bizapedia.com/tx/el-paso-industrial-finance-ii-llc.html
Categories:
Business Rating:
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SIDNEY SCHLUSSELBERG EL PASO INDUSTRIAL FINANCE LI LLC RACHELLE NEDOW Loan upfront fee collection and no loan disbursement by bringing the undisclosed new fees and security deposit El Paso Texas
Sidney Schlusselberg one day approached me via gmail and told the company can provide both business and personal loans within a few days.
He confirmed the only fee for the thier loan was $1,500 (processing fee and insurance fee) for the loan $100,000. Then the procedure started after I made $1,500 payment by wire to the account of a personal named account designated by him. Different from what he promised, the funding was intentionally deferred and he started to say, "Additional $2,000 is required for insurance coverage". I reluctantly agreed to pay it by wire, but still the loan was not disbursed at all. Then on 1/02 he delivered the loan agreement in which a new fee payment requirement of $3,500 closing fee plus $10,000 security deposit to be paid prior to the loan disbursement.
I started to claim that such hidden and undisclosed fees and cost collected upfront is totally illegal and violation of lending business regulations, but he kept insisting without such payments he never deliver the loan. I told just cancel the transacion and return the $3,500 fees paid, but he said the fees are not refundable. Who shall pay such $17,000 upfront fees while seeking a $100,000 loan? Throughout the conversation and email communication, he showed very insincere attitude by keep saying all what they do are legal way in lending business and pretended as if they were a legitimate lender. Actually, they are an extremely malicious fraudulent person/organization.
I requested them to cancel the whole transaction and make an immediate refund of the fees paid. However, he started to argue that he would pay the half of $13,500 and requested me to come up with the half payment upfront and never shown sincere attitude to make refund of fees paid to extremely unsatisfied customer like me. Because of his/their intentional deferral of fund disbursement, our company had received a significant damage due to the delayed operational funding. The person and the company must be examined and investigated by regulatory authorities about their fraudulent business conducts and violation of lending business regulations being a regulated and licensed lender in Texas.
