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| MTJJ Of California LLC Tom Papa SCAM AND FRADULENT COMMERCIAL REAL ESTATE FUNDING TRANSACTIONS. Sunnyvale, California |
| 21st of Dec, 2011 by User539832 |
If you are a independent broker and have a client seeking private funding for your commercial real estate project or potential client stay away from MTJJ of California LLC. The front man is Thomas R Papa he comes across a pompus snake oil salesman. His pitch is he can fund your project in a little as 2 weeks BUT you must pay a UP FRONT DEPOSIT fee in most cases. He says instead of putting the deposit in an escrow account it must go in his personal Bank Of The West account. If you get that far in the process you will notice when you get close to your funding date you will notice he has done very little due dilligence in regards to reading a purchase agreement,feasability study, appraisal etc. He will come across as incompetent. He has an very shaky Letter Of Intent I mean promissory note that he contructs as a funding agreement. As it gets closer to the funding date agreed upon he will drag the process on and use stall tactics to push the funding back. Eventually he will just be stringing the client along with false dreams of getting the project funded. At the end of the day YOU PROJECT WILL NOT GET FUNDED!!! YOU WILL GET A BOAT LOAD OF EXCUSES!!!! If you are so lucky you may be able to get your 6 figure deposit back!
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| This is one complaint in 10 years. If anyone would like cooresponding legal evidence please feel free to call. |
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| MTJJ of California and Thomas Papa offered us private funding for a million dollar short sale house. We signed a contract with him, and deposited a six figure down payment to his MTJJ account. For the next couple months, he made all kinds of excuses to delay the process. First the home owners needed to be evicted, then the bank has different departments that are not communicating with each other. When new buyers moved in, he said that it is going through legal process. We signed a cancellation and under contract would receive our money back in 3 days, but it has been several months, and he has made all kinds of excuses not to return the money. First he needed to wait for the bank to process the funds, next he was going to sell his retirement funds, then he was going to borrow money from private sources. Even after getting lawyers involved, he continued to delay the process. He is not someone you want to do business with. |
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| Tom promised to wire a payment today. He states that he is stuck at the airport and that he would pay tomorrow. We’ve been told similar things for months. |
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| Thomas R Papa of MTJJ has agreed to partial payment by 2/10/12 and the remainder by 2/14/12. Hopefully, we will receive our payments as promised. |
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Thomas R Papa promised to pay more than 20k, but made no payment today. He did not respond until 5 PM, stating that he was on a flight, had to borrow cash, and will be paying the full remainder by 2/14/12.
In nearly 3 months since cancellation of our contract, he has paid less than half of what he owes in 7 separate payments, the last one being 10 days ago. Just in the past week, he told us he would make partial payment on 2/6, then 2/7, 2/8, 2/9 and 2/10, but each day he does not respond to phone calls or emails until the late afternoon or evening, giving reasons why he won't be able to pay until the next day.
The next deadline is 2/14/12. |
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DON"T BE FOOLED. THIS GUY DOESN"T FUND. HE IS GOOD AT TAKING YOUR DEPOSITS OF ANY AMOUNT AND NOT RETURNING THEM!! HE STILL ADVERTISES ON CRAIGSLIST WITH HIS PHONE NUMBER OR ONE OF HIS TEAM, LIKE GDL LISTED ABOVE.
SEE RIPOFF, HE HAS NEVER RETURNED ANYONES MONEY. HE ALSO HAS ALIAS USER ACCOUNTS WHERE HE POSTS POSITIVE REVIEWS.
He will tell you anything just to get that deposit, then you will get a boat load of lies.
Contact the Santa Clara district attorney. DONT GET SCAMMED
http://www.ripoffreport.com/financial-services/mtjj-of-california-l/mtjj-of-california-llc-tom-pap-703cf.htm
408-835-2462
TOM PAPA
THOMAS RANDY PAPA
THOMAS R PAPA
MIKE MARTINEZ
JOHN RAKE
COBALT GROUP
408-835-2462
408-835-2462
MTJJ OF CALIFORNIA
MTJJ
THOMAS PAPA |
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| Thomas Papa is a true scam artist. He will take a customer's escrow money and run off. He will make all sort of excuses to delay the closing. He then promise to return the escrow money and give you a dead line date but will not return the money back to you. He always says he is busy flying around and traveling on business trips, but yet can not get a single funding done and will not provide any solid proof of his travels or the funding of a single client. First he uses the excuse that his wife and kid was sick. Then he uses the excuse that he is sick. After that he says he has to attend a funeral and would appreciate it if he was left alone. What--left alone, when he is holding onto money that is not his. Return the money and you will be left alone. Thomas Papa is a con man. |
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| IS anyone planning to sue him? |
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| Thomas papa and MTJJ of California LLC will run-off with a borrower's escrow money. He will issue a Loan Agreement and promise to fund the loan within 20 days. Thomas Papa's company will then fail to perform the loan when the 20 days arrive. He will give the borrower excuses to delay the process. Thomas Papa will then issue letter of guaranty to refund the escrow money and with a time a date but when that date arrives he will not be able to return the refund and again give out other excuses. Additionally, Thomas Papa will make promises on a weekly basis that he will get the Loan and refund done but as each date arrive he also will fail to deliver as promised. Thomas Papa will then say that he has to fly out and meet with you, but when you ask for a specific day and time, he will not provide any. He will continue to make excuses that he is busy. He says that he is flying to many places everyday but when asked to provide proof of his travels, he will not be able to show any airline fligt ticket. Thomas Papa issued several Letter of Guaranty with specific time and date stating that he will fund the loan, and again will fail to perform as the date arrived. Thomas Papa makes promises to call you but majority of the time will not. My Closing should have been in late November of 2011 and now it is May 31, 2012. Half a year later and Thomas Papa is still giving excuses and full of lies. He promised that funding would occur today and just this morning he sends more excuses. |
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| If you have been scamed by Thomas Papa, contact us at [email protected] so we can work together to bring justice. |
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| Thomas Papa, if you are reading this, then contact us and we can discuss the matter further and finalize the mess you created. So far you are nothing more than a con man. You owe Mr. V. 28K in Broker Fee refund, almost 100K in penalty fee payments and the loan for over 1.4M. You made many promises and all came up dried. You know who we are so we look forward to hearing from you. Call us and prove us wrong. If not, we will be posting the contracts online and photos of you as well. CLV and FC. |
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| I represent an investor group that was defrauded by Thomas R Papa and MTJJ, Inc. in December of 2011. Papa and his group obtained approximately $70, 000 on representations that funding of approximately 7 million dollars would be provided, which did not happen. Our information is that on June 7, 2012 Mr. Papas was arrested in Santa Clara County. We expect to file a lawsuit regarding the fraud by June 20, 2012. If you would like to review the complaint that we file on behalf of this investor group feel free to write me at the e-mail address of [email protected]. |
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