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Global Acquisitions, COSame company as Corporate Acquisitions Group, Rated F by BBB

1
P Review updated:

Corporate Acquisitions Group (CAG) recently changed its name to Global Acquisitions. Both companies, based in Englewood, CO, promise to sell your business after you pay a hefty "business valuation" fee. They promise you'll get your money back if the business doesn't sell. From what I've read online, it sounds like a scam. Most business owners won't speak up because they are embarrassed they've been scammed, or are personally threatened by Ty Tymkovich, the owner.

You can see CAG's BBB page here: http://www.bbb.org/denver/business-reviews/business-brokers/corporate-acquisitions-group-llc-in-englewood-co-90016713?&language=1

CAG recently was rated an "F" by the BBB. So they shut it down and opened it up under Global Acquisitions. Global Acquisitions's BBB page is here: http://www.bbb.org/denver/business-reviews/business-brokers/global-acquisition-in-englewood-co-90103397?&language=1#complaint

Both companies are run by Tyrone (Ty) Tymkovich, whose real estate license was recently revoked in CO. He also pled guilty of disturbing the peace and making personal threats. This is on public record here: http://docs.google.com/gview?a=v&q=cache:HMgMVPuuN5QJ:www.dora.state.co.us/real-estate/meetings/minutes/broker/CREC_May_2009.pdf+tyrone+tymkovich&hl=en&gl=us

Be sure to Google "Corporate Acquisitions Group" before doing business with them or Global Acquisitions, both of Englewood, CO.

Responses

  • M
      Aug 31, 2009

    I checked into these guys and found that Sam Levine has also been convicted of robbing people in the past. See link below:

    http://www.ftc.gov/opa/1998/09/vendup2.shtm

    I have informed the FTC of this operation and they say they are already investigating.

    0 Votes
  • D
      Dec 22, 2009

    12/19/09: A pair of Colorado businessmen are accused of persuading more than 700 businesses in this and other states to pay thousands of dollars for unnecessary net-worth appraisals, Colorado Attorney General John Suthers' office said Friday.

    Businessmen Tyrone Tymkovich of Aurora and Sam Levine of Castle Rock — and their businesses, Corporate Acquisition Group and Global Acquisitions Group — were named in a lawsuit filed in Arapahoe County that accuses them of convincing small-business owners that potential buyers were ready to acquire their firms and needed an appraisal.

    Of the $5, 000 the men charged for their service, just $1, 000 of the fee was actually devoted to the appraisal. They also are accused of overstating their business success in order to lure clients and of giving money-back guarantees they didn't always honor.

    Suthers is seeking restitution for victimized businesses and an injunction against future fraud.

    Read more: http://www.denverpost.com/ci_14029427#ixzz0aRMxbEQT

    0 Votes
  • M
      Aug 10, 2010

    Attorney General announces $160, 000 contempt judgment against business broker Tyrone Tymkovich
    08/05/2010

    DENVER — Colorado Attorney General John Suthers announced today that an Arapahoe County District Court judge has ordered Tyrone E. Tymkovich (DOB: 12/30/1977) of Aurora to pay $160, 000 after he violated a Feb. 18, 2010 order barring him from soliciting businesses as a broker.

    According to the contempt judgment, Tymkovich admitted to continuing to solicit businesses using the alias “Adam Smith” for a New Jersey based company, HDI Consultants. The contempt judgment permanently bars Tymkovich from continuing any solicitation or sales of his broker services. Tymkovich also admitted to failing to make proper disclosures while acting as a business broker, including that “the likelihood of (Tymkovich) selling a business is less than one out of a hundred based on past performance” and “that [Tymkovich’s] company has generated more than $2.8 million in revenue from monies collected for valuations, yet it has earned less than $100, 000 from actual sales of businesses.”

    The Office of the Attorney General filed a lawsuit against Tymkovich, and Sam Levine (DOB: 2/1/1967) of Castle Rock on suspicion that they, through their two Englewood-based businesses, defrauded more than 700 businesses in Colorado and other states between July 2006 and September 2009. According to the complaint, Tymkovich, Levine or their employees at Englewood-based Corporate Acquisitions Group and Englewood-based Global Acquisitions Group would approach small businesses and inform them that either buyers were interested in acquiring their firms or their businesses could be sold. Tymkovich, Levine and their employees are accused of convincing more than 700 businesses in Colorado and other states to allow them to conduct an appraisal of their business for $5, 000. Of the $5, 000 Tymkovich and Levine’s businesses collected from their clients, only about $1, 000 of the fee was actually devoted to completing the appraisals.

    Tymkovich and Levine also are alleged to given the clients a money-back guarantee in the event of no sale occurring. However, Tymkovich and Levine only followed through when a business complained to either the Better Business Bureau or the authorities, according to the complaint.

    0 Votes
  • S
      Aug 26, 2010

    Attorney General announces $2 million judgment against fraudulent Englewood-based business brokers
    08/23/2010

    DENVER — Colorado Attorney General John Suthers announced today that an Arapahoe County District Court judge has approved a settlement barring Tyrone E. Tymkovich (DOB: 12/30/1967) of Aurora and Sam Levine (DOB: 2/1/1967) of Castle Rock from soliciting or defrauding Colorado businesses through their business brokerage. Tymkovich and Levine will be required to pay $1 million each to the state in fines and restitution.

    According to the Office of the Attorney General’s lawsuit, filed in December 2009, Tymkovich and Levine defrauded more than 700 businesses in Colorado and other states between July 2006 and September 2009 through their two Englewood-based businesses, Corporate Acquisitions Group and Global Acquisitions Group. Tymkovich and Levine approached businesses and informed them that either buyers were interested in acquiring their firms or their businesses could be sold. Tymkovich, Levine and their employees convinced their victims to allow them to conduct an appraisal of their business for $5, 000. Of the $5, 000 Tymkovich and Levine’s businesses collected from their clients, only about $1, 000 of the fee was actually devoted to completing the appraisals.

    Under the settlement, neither Tymkovich nor Levine will be allowed to act as business brokers for any new clients or solicit upfront appraisal fees from any existing clients. The settlement also requires that Tymkovich and Levine notify the Office of the Attorney General of any commissions paid by existing clients and demonstrate that these commissions are the result of actual brokered sales.

    The Office of the Attorney General obtained a contempt order against Tymkovich earlier this month after he admitted to continuing to solicit businesses using the alias “Adam Smith” for a New Jersey based company, HDI Consultants. Under the contempt order, which stemmed from his violation of a Feb, 18, 2010 court order, Tymkovich was required to pay $160, 000.

    0 Votes
  • C
      Nov 12, 2010

    This company is still in operation as Global Acquisition and Tyrone Tymkovich is involved. Steer clear.

    0 Votes
  • J
      Mar 17, 2011

    hi every body
    I have been contacted by the man named David Summers on behalf of a man representing your company in
    Hong Kong. It is in relation to shares on the open market they are trading less than cent and he is offering over
    five dollars. Could you please let me know if this is correct.

    Thanking you,
    Jimmy Lee.

    0 Votes

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