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Sethi Financial Group Inc.

Phone: (972) 509-9100

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BBB began including the text of consumer complaints and business responses in BBB Business Reviews on 07/01/2013 for complaints filed on 01/01/2013 and thereafter. This includes all complaints that meet our reporting guidelines and that are filed electronically. We also report on the resolution of the complaint, as determined by BBB.

Customer Complaints Summary

6 complaints closed with BBB in last 3 years | 1 closed in last 12 months
Complaint TypeTotal Closed Complaints
Advertising / Sales Issues3
Problems with Product / Service3
Billing / Collection Issues0
Delivery Issues0
Guarantee / Warranty Issues0
Total Closed Complaints6

Complaint Breakdown by ResolutionAbout Complaint Details

Complaint Resolution Log (6)
12/04/2013Advertising / Sales Issues | Read Complaint Details
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Complaint
Mr. ****** contacted by father, 91 years old for further investments after I had sent him my POA and asked that they do not contacted him directly.
The POA gives me the control over his financial affairs because he can not longer assess the reasonableness of risks. I believe that the company is attempting to scam him for more money after taking $104,000 for "investments"

Desired Settlement
Return of the latest check sent to them for $26,000 and a commitment to no longer contact my father, *** **********.

Business Response
The company has agreed to return the ********** check, and in exchange for doing so, Mrs. ********** has since signed a "mutual release" which effectively drops her original BBB complaint. From our perspective, this issue has been involved.

***** ************ CPA
Chief Operating Officer (on behalf of CEO ****** P. *****)

09/19/2014Advertising / Sales Issues | Read Complaint Details
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Complaint
Misleading information to invest
**** ******** with ***** petroleum e-mailed me false information on a previous investment to get me to invest on the next venture. I talked to ** ******** about this and he admitted that his information was wrong. I then talk and sent the email to ***** with ***** petroleum and she said that was wrong information and did not know where he would have got that. I then told her I wanted my money back but she said it was already deposited and would have the legal department to call me. That was in early July with no response to date. I contacted her again on early August and she said the legal department would contact me but still nothing.

Desired Settlement
XXXXX.00

Initial Business *esponse
EMAIL: ******@*****-FG.COM
DI*ECT#: 972.509.9277

Via Mail
******* *******
*** ***** ******
******** ********** XXXXX

28 August 2014

*e: North Dakota Drilling Fund-LVIII
Dear Mr. *******:
I am the General Counsel for ***** Petroleum, LLC, I write to you today to update you on the email that you
sent to ***** ********** and the compliant sent to the Better Business Bureau.
You have requested the return of your investment of Twelve Thousand Five Hundred Dollars ($12,500.00),
based on the email you received from **** ********* At this time I cannot authorize this course of action.
In your subscription documents that you returned to ***** executed was Exhibit "F" Quality Control
Qustionnaire. Within this document you agree that you only have used the memorandum to justify your investment
decision.
I am sorry that you feel this investment has not worked as you would have liked, but I do want to stress to
you that our team is evaluating potential assets daily.
Again - we truly appreciate being partners with you. If you have any questions with regard to anything set
forth above, please feel free to contact me or ***** *********** at (XXX) XXX-XXXX or ***********@*****-fg.com at
your earliest convenience.
Sincerely,
******* * *****
Vice President Finance and General Counsel

Initial Consumer *ebuttal
(The consumer indicated he/she DID NOT accept the response from the business.)
There was no mention or deny of the misleading e-mail that I received from **** ******** that I forwarded to them. The questionnaire was about professionalism and information I received from Mr ********* Before I learned that the information on my previous investment was completely wrong that he sent me he seemed to be ok. Nobody from ***** petroleum seems to know where he got this information or that it matters if it was not the truth.This matter is not closed for me.

08/27/2014Problems with Product / Service | Read Complaint Details
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Complaint
view attachment

Business Response
Contact Name and Title: M Davis, General Counsel
Contact Phone: 972-509-9277
Contact Email: mdavis@sethi-fg.com
We believe Mr. Perkins, is not entitled to a refund, just as if he had made an investment in "Dell" and the stock had not performed to his liking he would not be entitled to a refund of his investment.

Sethi has taken steps in the last four months to correct the reporting issue that Mr. Perkins mentions by replacing staff and bringing in more seasoned and qualified individuals.

In the subscription documents that Mr. Perkins received and acknowledge that he reviewed and understood with his response on page E-1 it clearly states that he has read the material and understands that risk is involved and that there are no guarantees and that he has carefully reviewed the information.



09/02/2015Advertising / Sales Issues | Read Complaint Details
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Complaint
In the fourth quarter of 2014 I was sold an investment in oil business. The projections of oil revenue stated in the investment documents promised a return of the investment for about a year. The first revenue check (according to the company documentation) had to arrive in January or 2015. Then it was delayed until April. I was calling periodically to the Vice President of Sales, **** ******* and each time I was assured that I will be pleased with the check I about to receive. Finally, in April I received a check in amount of $29.19. I do not believe that the over three months income below $30 for $12,500 invested is anywhere remotely close to the projections presented in the company's "Table 4: First Year Projections" even for the minimum production of 250 BOE/D and adjusted to the investment amount of $12,500. Every time I called **** ****** he assured me that the daily production is over 200 BOE/D and that I will be pleased with the check I will receive.At the same time the losses and deductions for this period of time amounted to $3,166 (K-1 Schedule). This is after all of the assurances and promises (obviously misleading) I received from C. McGhee.I received K-1 Schedule late in March. On April 06,2015, I received another version of K-1 Schedule when my taxes were already done and paid for.The originally scheduled well drilling was cancelled by the company. So, the company just using the remainder of the money for it's own advantage while scamming the investors.This investment is a scam and company representatives are scammers.Therefore, I request an immediate refund of the whole $12,500 I originally invested in ***** Petroleum, LLC.
Product_Or_Service: oil

Desired Settlement
I would like the amount of $12,500 invested in the company to be fully refunded.

09/02/2015Problems with Product / Service | Read Complaint Details
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Complaint
i was to recieve quarterly dividends for a $50,000 invest i have recieved 1 check and the bank said it wasnt good they dont return calls or emails
purchase dat was dec of 2014 i do not have the contract here but i do have 1,Carl McGhee is the person who was working at sethi that sold this to me i sent a check for $50,000

Desired Settlement
I would like my money back with interest.

06/29/2016Problems with Product / Service

Industry Comparison| Chart

Financial Services, Oilfield Service, Drilling - Oil Well, Investment Advisory Service, Investment Management, Oil & Gas Exploration & Development

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BBB Business Reviews are provided solely to assist you in exercising your own best judgment. Information in this BBB Business Review is believed reliable but not guaranteed as to accuracy.

BBB Business Reviews generally cover a three-year reporting period. BBB Business Reviews are subject to change at any time.