T-PS Feb252015 IIICMC

111 Capital Management - Capital Management Corp.

February 25, 2015

Actionslax is upset and wants everyone to beware. Some very slick sales people made promises that were not kept. The result is a loss of thousands of dollars. Here is his report:
I regularly get calls from scam artists (like everybody else) and generally hang up on them. I got a call last week from somebody pointing out that a PGA tour is coming to Riviera Maya next year (which I confirmed) and how they want to rent our units then as well as buy them. I trust no one from that gene pool but did confirm that there is a PGA tour there next year and went ahead and secured a spa week hoping to make some money on it then.

The Caller claimed to be a representative of Capital Management Corp. This appeared to be a legitimate company, based upon the looks of their website. Caller also said Capital Management Corp. would process the payments through a legitimate title company called Trustee Services, Inc. This is a company that is listed in good standing with the Missouri Secretary of State’s office.

It turns out that the company that is in good standing is not the company that the Caller uses. Instead, the Caller uses a company that is called TS Inc. which uses a website called trustintrust.com. The trustintrust.com website goes to Trustee Services Inc. These are very expensive sites. Drill down on the "our staff" menu item and meet Alexander Sind, the guy I have talked to on the phone and is supposedly coming up with each new issue of why my money cannot be released to me. I reviewed the BBB on this company and in the fine print, they NOW say that they company's name has been pilfered by an illegal effort that has nothing to do with the true “Trustee Services, Inc." that does indeed have a building across the street from the arch in St Louis. Also, Trustee Services, Inc. is a subsidiary of a law firm. The trustintrust.com website appeared only since I started working with them.

You see how industrious these guys are. The guy I talked to is not impersonating Alexander Cind, whose picture is on the website. The picture is fake and the name is fictitious. The only hit on google that comes up with Alexander Cind is actually another fraud trust company in Montana. The website is a fraud and claims the phone number that indeed will lead to the fraudsters. The street address aluded to on the website is a true address of the real trustee services, a subsidiary of a law firm in a nice building downtown. The trustintrust.com website only came up since is started my time with them. They probably used my money to pay for it.

Anyway, I talked to these guys armed with the knowledge that scams are a dime a dozen out there and I usually do the right thing the second I know a phone call is about the GL and that is to hang up. But there was plausibility to almost everything they said and many many claims they made were verifiable which ultimately led to my first wire of money to a Jalisco bank. Once I was in for $16K, and another thing came up that needed to be taken care of I was already in the awful position of wanting it to be true. Each time more than the last time, a tremendous psychological advantage for the scammer. All costs were to be paid by the Renter, so that once I got this last thing taken care of I would get the funds due me plus all my expenses. Right now they are waiting for me to prove that I have a FM2 form (visa) to send me the money. Of course, I don't have a FM2 form as its a Visa to work/live in Mexico.

The bottom line is I was too cocky to think I could verify everything they said and I hadn't heard of anything this crafty before. So please read the details and be warned.
June 24, 2015 - Update:
I got 2 letters back from the NY attorney general's office as they processed by letter describing the $45000 rip off above. Because they got no response from 111 Capital management, they closed the case. Absolutely free reign to the scammers with virtually no chance of getting caught.
This scamming entity is supposedly listed with the Secretary of State in New York. The Business Listing section reports there is a company name of III Capital Management Corp. The name is different from the name on the scammer's website, which is 111 Capital Management and Capital Management Corp. Deceptive and misleading!

The address gvien on the website is the same address as the company named in the Secretary of State's records. This company was formed in May, 1997. The address is an apartment.

Look over the website. The Privacy Policy is gibberish! It is not the work of a company formed in 1997. In fact the website was created, updated and expires on the following dates:

Updated Date: 2014-10-02T14:10:19Z
Creation Date: 2014-08-11T14:05:11Z
Registrar Registration Expiration Date: 2015-08-11

In the information paragraphs, the second on says Up Front Fees? It goes on to say:

"If a company ask you for any up front fee is a highly to be scam. We'll never ask any kind of upfront monies, we work for you and for you."

First the grammar used is suspect. Certainly a company that has been in business since 1997 would not resort to such poor English to promote its services.

But, more importantly, an Aimfair member paid up front fees to this group in hopes of renting his weeks. He became hooked into a cycle that is very familiar - pay money to get money. And each time one pays into the cycle, it becomes blatantly clear that money paid will not likely be returned. The scammers keep the hope alive by giving excuses and extending the time that the money will be returned.

We all want to believe our contracts are worth a lot of money. After all, we have prepaid for our vacations and feel the value of these prepayments should be recognized by others.

In reality, all we have to do is look at the prices paid in the rental markets. They are no where near the $6,000 or more per week offered by cold calling scammers.
Bottom line......if the deal looks too good to be true....then it most certainly is not!!

Keep this chart in mind every time you get a cold caller asking you if you want to sell your timeshare:
FTC Instagram - Anatomy of a Scam
FTC Instagram - Anatomy of a Scam

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