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themoneyman
8 Posts |
 Posted - 07/10/2008 : 08:22:25 AM
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To any of you looking to place loans I would highly recommend you steer far away from a man named Lionel Ellis who represents himself as a pension fund lender and even a fund manager. The company he promotes under is Millenium Financial Services or MFS. Their address is a mailbox at a UPS store. Their office line is his cell phone.
He will state how large they are, how much money they have to lend and that the pension fund lends up to 95% as a JV partner, etc etc. He will string you and your clients along for months and even state a closing date and then he disappears.
And yes the client will pay a due diligence fee, which they never seem to get back even if they request it, as he states they can. I have two clients who have been taken and now are getting no response even after their lawyers are involved. I have two other clients who are in process and he will now not even return their direct calls or emails.
There are many brokers out there who share information and advice. Please share with them the names above and lets keep people such as him from operating and taking advantage of any other brokers and more importantly clients. He has wasted months of my time and energy and now continues to do so in a legal way. Pass this on and lets put him out of business.
The UPS address is in Princeton, New Jersey but he claims to live and operate out of Philadelphia. The investigator is trying to determine this exact information. If any of you have information on this person please respond as there will be people getting in line I am sure. If you have any advice on how to handle we would love to hear it. So far the BBB, state Attorney General and even FBI have been contacted by at least two of the clients.
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CoralSnake
10880 Posts |
Posted - 07/10/2008 : 1:49:04 PM
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I have no idea who this person is.
But Princeton NJ is very close to Philly. |
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MBG
257 Posts |
Posted - 07/15/2008 : 06:07:57 AM
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| He did the same thing to a client of mine. We also uncovered the UPS store near Princeton campus. To further, his corporation is not legitimate. Please keep me apprised as while he fees are low compartively speaking, he is most likely believing that clients won't come after him. Mine is. |
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kbaker
910 Posts |
Posted - 07/15/2008 : 3:59:47 PM
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| No idea who he is either, but I am located in Princeton, NJ. Let me know if I can help. |
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velecico
3991 Posts |
Posted - 07/16/2008 : 07:19:10 AM
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No idea , but you probaly have a bunch of these scammers on this blog right now with 1000s of post , Its funny , you would think they would post some of their recent fundings to gain some credibility . |
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