84 inquiries | Securities Investment
(760) 404-1438
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BBB
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This business is not a member of Business Consumer Alliance. This fact does not disparage the company in any way.
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BCA's Summary and Analysis:
One complainant alleges she was solicited to invest in a community re-development project for $75,000. After paying the money, she changed her mind when her attorney advised her that the investment did not provide tax shelters as represented, and the company had not fullfilled their obligations to the investor as outlined in their letter of intent. The complainants requests for a refund were allegedly not responded to. The company responded to the complaint by issuing a refund.
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Company Info
This company's business is planning and development of affordable housing.
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Licensing
California law requires any company, or individual, selling securities as an investment, to register with the Securities Regulation Division of the Department of Corporations.(DOC). This registration requirement includes; financial planners, broker-dealers, broker-dealer agents, investment advisers, and investment adviser representatives. Before investing money, or making other important financial decisions, verify the company you are considering has complied with State registration requirements.. The DOC maintains a database to verify registrations online at www.doc.ca.gov. Inquiries can be sent by mail to, California DOC, Securities Regulation Division, 1515 K Street, Suite 200, Sacramento, CA 95814-4052. The DOC can also be contacted by phone, toll-free at 1-866-ASK-CORP (1-866-275-2677)..
BCA has no information regarding government actions at this time.
While some things may be taken on faith, investments are not among them. Members of religious communities can protect themselves from investment swindles by taking the following common sense precautions. Be wary of investments that seem closely tied to a particular religious belief. It's extremely unlikely that a golden investment opportunity would be available only to members of a specific church or faith. Be cautious if the promoter of an investment opportunity tries to capitalize on connections or a leadership position within a religious group. Chances are slim that the success or failure of the investment can be linked in any way to the "inside" contacts of the promoter. Always check out any claim of influence within the church that is made by a promoter. Be on your guard for a new member of your church who springs up out of nowhere with a "surefire" investment scheme. Some con artists will waste little or no time in easing their way into a religious circle. Find out who you are dealing with and what their background, if any, is within the church. As you would with any investment offer, be sure to look closely at investments promoted to you by fellow members of the church. Exercise the same caution and skepticism that you would when considering any other investment. Ignore claims that religiously-based investments are unregulated. Virtually all investment opportunities, including church bonds, come under the scope of federal and state securities or commodities laws. Any claim to the contrary by a promoter is a clear indication that you are dealing with someone who is either grossly uninformed or a con artist. Check out the promoter and the investment opportunity before money changes hands. Contact your state securities agency to find out if the promoter and investment are properly registered in your state. If you suspect that you have been approached or taken by a con artist, contact your Better Business Bureau or report the scam to your state securities agency. .
We know of no other matter or practice relating to this company that may assist you in your consideration of this company.
BCA has no information regarding advertising review at this time.
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