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Sethi Financial Group Inc.

(972) 509-9100View Additional Phone Numbers101 E Park Blvd Ste 755, PlanoTX 75074-8813

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BBB Accreditation

Sethi Financial Group Inc. 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 13 factors. Get the details about the factors considered.

Factors that affect the rating for Sethi Financial Group Inc. include:

  • Failure to respond to 3 complaints filed against business.

Customer Complaints SummaryRead complaint details

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 Complaints 6

Customer Reviews Summary Read customer reviews

0 Customer Reviews Customer Reviews on Sethi Financial Group Inc.

Customer Experience Total Customer Reviews
Positive Experience 0
Neutral Experience 0
Negative Experience 0
Total Customer Reviews 0 Customer Reviews

Complaint Breakdown by ResolutionAbout Complaint Details

Complaint Resolution Log (6)
12/04/2013Advertising / Sales Issues | Read Complaint Details

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

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

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
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 ***********@***** at
your earliest convenience.
******* * *****
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

view attachment

Business Response
Contact Name and Title: M Davis, General Counsel
Contact Phone: 972-509-9277
Contact Email:
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

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

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

Additional Information

BBB file opened: 02/09/2007Business started: 01/01/2003
Licensing, Bonding or Registration

This company is in an industry that may require licensing, bonding or registration in order to lawfully do business. BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met.

These agencies may include:

Railroad Commission of Texas
PO Box 12967
Austin, TX 78711-2967
(877) 228-5740

Type of Entity


Incorporated: May 2003, TX

Contact Information
Principal: Mr. Sameer P. Sethi (CEO) Praveen Sethi (Treasurer)
Business Category

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

Industry Tips
Software-Investment Trading

Map & Directions

Map & Directions

Address for Sethi Financial Group Inc.

101 E Park Blvd Ste 755

Plano, TX 75074-8813

To | From


1 Locations

  • 101 E Park Blvd Ste 755 

    Plano, TX 75074-8813(972) 509-9100
    (866) 738-4434

Industry Comparison ChartX

The information in the table below represents an industry comparison of businesses which are of the same relative size. This is based on BBB's database of businesses located in North Central Texas. Businesses may engage in more than one type of business. The percent of time the business engages in a type of business is not accounted for. There is no known industry standard for the number of complaints a business can expect. The volume of business and number of transactions may have a bearing on the number of complaints received by BBB.

*Sethi Financial Group Inc. is in this range.


Types of Complaints Handled by BBB

BBB handles the following types of complaints between businesses and their customers so long as they are not, or have not been, litigated:

  • Advertising or Sales
  • Billing or Collection
  • Problems with Products or Services
  • Delivery
  • Guarantee or Warranty

We do not handle workplace disputes, discrimination claims or claims about the quality of health or legal services.


Additional Phone Numbers

  • (866) 738-4434

BBB Complaint Process

Your complaint will be forwarded to the company within two business days. The company will be asked to respond within 14 days, and if a response is not received, a second request will be made. You will be notified of the company's response when we receive it (or notified that we received no response). Complaints are usually closed within 30 business days.


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.


Industry Tips for Financial Services

Software-Investment Trading

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On May 14, 2015, The Securities & Exchange Commission filed suit against Sethi Petroleum LLC, and Sameer P. Sethi, individually. This is a pending action.

The Security & Exchange Commission ("SEC") alleges that Sethi Petroleum LLC, and Sameer P. Sethi made material misrepresentations in the sale of securities in the Sethi-North Dakota Drilling Fund-LVIII Joint Venture to more than 90 investors in 28 states, raising approximately $4,000,000. The SEC further alleges that Sethi Petroleum and Mr. Sethi falsely represented to investors that 70% of their investment funds would be used for to acquire, drill and complete 20 oil and gas wells, falsely represented that investors could expect annual returns as high as 30-60%, falsely represented that Sethi Petroleum was partnered with "major oil and gas companies", falsely represented Mr. Sethi's business background, and failed to disclosed Mr. Sethi's criminal incarceration and prior state regulatory actions against Sethi Petroleum and Mr. Sethi.

The SEC alleges that these actions violated the antifraud provision of Section 17(a) of the Securities Act of 1933, and Section 10(b) and Rule 10B-5 of the Securities Exchange Act of 1934. The SEC further alleges that Mr. Sethi individually violated Sections 20(b) of the Securities Exchange Act and is liable as a control person under Section 20(a) for Sethi Petroleum's primary violations of Section 10(b) and Rule 10b-5 of the Securities Exchange Act.

For further information, please refer to -> .


BBB Customer Review Rating plus BBB Rating Overview

BBB Customer Reviews Rating represents the customers opinions of the business. The Customer Review Rating is based on the number of positive, neutral and negative customer reviews posted that are calculated to produce a score.

Customer Review Experience Value
Positive Review 5 points per review
Neutral Review 3 points per review
Negative Review 1 point per review

BBB letter grades represent the BBB's opinion of the business. The BBB grade is based on BBB file information about the business. In some cases, a business' grade may be lowered if the BBB does not have sufficient information about the business despite BBB requests for that information from the business.

BBB Letter Grade Scale

BBB Rating Value
A+ 5
A 4.66
A- 4.33
B+ 4
B 3.66
B- 3.33
C+ 3
C 2.66
C- 2.33
D+ 2
D 1.66
D- 1.33
F 1
NR -----
Star Rating scale

  Average Score
5 stars 5.00
4.5 stars 4.50-4.99
4 stars 4.00-4.49
3.5 stars 3.50-3.99
3 stars 3.00-3.49
2.5 stars 2.50-2.99
2 stars 2.00-2.49
1.5 stars 1.50-1.99
1 star 0-1.49

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