| Robert Ritch and Associates (Rob Ritch) |
| charged $1000 for investor assistance but delivered nothing |
| 4th of Jun, 2011 by risingstar |
Beware!!! Beware!!! Beware!!! Beware!!! Beware!!! Beware!!! Beware!!! Beware!!!
Do not give Robert Ritch any of your money, he is a scam artist. Mr. Robert Ritch advertises on robertritch.com that he provides funding to businesses for their ventures. The truth is that he will talk a smooth "game" during the free consultation, but when he gets your money, his story changes. After he received our $1000 he drove to meet my Board members and myself, but started saying that he didn't have any available funds to help us because his funds were in an offshore account. He didn't say anything about his money being unavailable during the "free consultation".
After receiving our $1000, the only thing Mr. Ritch said he could do to help us was to issue a Letter of Credit to us. I called several banks to see about this "Letter of Credit", and none of the banks would accept it. They all told me that a Letter of Credit is generally issued by lending institutions and they never heard of someone like Mr. Ritch trying to issue a letter of credit. Some of the bank associates even warned me to be careful because it sounded like a scam. Well, too late because he already had our $1000.
During the initial telephone consultation, I clearly outlined our existing situation and details about the property we are trying to acquire. I specifically told Mr. Ritch that we were a non-profit school, and he still said he could help us. He stated that he would be willing to grant some of the money to us and use it as a tax write-off. During our face-to-face meeting, Mr. Ritch said that he was not willing to grant any of the money to us, and that his funds were tied up in offshore accounts. If he would have told us this during the telephone consultation, we never would have given him $1000.
Beware because most scam artists don't actually make a face-to-face visit, but that's a cover up to try to justify his scam. He was driving from Tennessee to North Carolina and he offered us nothing of value, so we are seeking to have our money refunded by Mr. Robert Ritch.
Also, don't be fooled by his LinkedIn profile at www.linkedin.com. I initially found Mr. Ritch on LinkedIn and his profile seemed very impressive, but it's all just a scam.
During the face-to-face meeting with Mr. Ritch, he would not stay on the topic of business. He kept talking about his family and the many businesses that he owns. He talks a good "game", but don't be fooled.
If you search the RipOffReports on the ripoffreports.com website, you will see other entries in 2008 and 2009 for Mr. Robert Ritch. In his replies to consumer complaints, he explained that he was working under another company when those complaints happened, but don't be fooled. He will more than likely reply to my complaint by trying to say something negative about me or my company, but he just doesn't want to admit that he is a scam artist. He began to call me demanding when I started questioning him about my money.
I later found out from authorities that it is illegal to accept money from consumers prior to delivering the service. He requested and accepted our $1000 and delivered absolutely nothing. |
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This deal went south because of the client trying to hide behind a non-profit status when they are a for profit business. It is easy to blame the lender when your plan is not valid. She did not have the cash flow to cover the loan nor did she have any equity to put up. Why would I risk my money of this deal. Would you have done this deal?
I make no apologies for the things listed on rippoffreport either. Some deals I look at are not worth doing and that does not come to light until we are well into the project. I can supply references from deals that I have closed.
The internet is great but some of there needs to recourse against false or misleading statements made. |
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