BBB Business Review
This Business is not BBB accredited
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This business is not BBB accredited.
Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation.
To be accredited by BBB, a business must apply for accreditation and BBB must determine that the business meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses must pay a fee for accreditation review/monitoring and for support of BBB services to the public.
Reason for Rating
BBB rating is based on 16 factors. Get the details about the factors considered.
Based on BBB files, this business has a BBB Rating of No Rating. The reason is as follows:
- This business has no rating because BBB has information indicating it is out of business.
Customer Complaints Summary
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Additional Complaint Information
This company first came to the attention of the Cleveland BBB in October of 2009. At that time a Louisiana consumer indicated that an advance fee of $4500 was required prior to the company proceeding with a commercial loan application. If interested in the loan offer, the funds were to be wire-transferred to an account at a bank located in Rocky River, Ohio - a suburb of Cleveland.
In December of 2009, a California consumer reported paying $10,595 and receiving a commitment letter for a commercial loan in October of 2009. However, the consumer was advised on January 2, 2010, that the company could not provide the loan. (It is unclear to the BBB if the monies paid will be refunded by the company to the consumer.)
The BBB is aware of at least two web addresses for this company. The original, privately registered, website, www.equvest.com, was created in August 2009 and is no longer active. The current, also privately registered, www.equvest.net, was created in October of 2009. Both sites reference a Cleveland, Ohio location but local postal authorities have no information in their files for such a company at that address.
Aside from the company website, the BBB was unable to locate much information about this company online. The Ohio Secretary of State does have a filing for a similar business name, but it is unclear if that filing has any affiliation to this company. In addition, the Ohio Division of Financial Institutions had no filings for any company with this name.
Given the uncertainty of its location and lack of other information, the BBB urges caution in doing business with this company, providing personal information or forwarding money in any manner.
If assistance is required, consumers are invited to file a complaint with the BBB online at www.cleveland.bbb.org, or to contact the Federal Trade Commission online at www.ftc.gov and the Ohio Attorney General online at www.ohioattorneygeneral.gov.
Customer Reviews Summary Read customer reviews
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This business is in an industry that may require professional licensing, bonding
or registration. BBB encourages you to check with the appropriate agency to be certain
any requirements are currently being met.
These agencies may include:
Ohio Department of Commerce / Division of Financial Institutions
77 South High Street, 21st Floor, Columbus OH 43215-6120
Phone Number: (614) 728-8400
Fax Number: 614-728-0380
Business ManagementMr. Henry Goldstein Mr. Henry Grossmen
Advance Fee Brokers Financial Services
The following Government Agency(s) or Association(s) may be able to provide you additional information:
Federal Trade Commission (FTC) / Consumer Response Center 600 Pennsylvania Avenue, NW, Washington DC 20580 Phone Number: (877) 382-4357 http://www.ftc.gov
Ohio Attorney General - Main Office - Columbus State Office Tower, 30 E. Broad Street, 17th Floor, Columbus OH 43215-3428 Phone Number: 800-282-0515 http://www.ohioattorneygeneral.gov