KCS Financial / Unauthorized fees &earnest money&
Stay away from this company--this is a Ponzi scheme to get your money when KCS takes more than adequate time to fund your business endeavor. By stalling you, they hope that you seek funds elsewhere and when you do, they are quick to state that you have broken your contract and will take your "earnest" money---now really folks--how many banks do you go to for loans for a business ask for "earnest" money. NONE!! All the BS on the KCS website about Greg Kuczora and "2009 NEWS:
GREGORY KUCZORA HAS BEEN INVITED TO PARTICIPATE IN AN EMERGENCY ECONOMIC ROUND TABLE SUMMIT IN WASHINGTON D.C." is exactly BS. He has already ripped off countless unsuspecting individuals and then scares them into thinking that KCS will come after them. DO NOT BELIEVE THIS! If Mr. Kuczora was invited to President Obama's economic round table, it is time to inform President Obama as well as US Attorney General Eric Holter of this man's business practices of not returning "earnest" money to individuals he never planned on funding when they ask for their earnest money back. Instead he states that these are "fees". I challenge Mr. Kuczora to show PROOF of actual fees incurred for any of these individuals besides emails and phone calls to keep stalling them. The other complaint registered against KCS Funding is exactly what is happening to other people that were "bamboozled" by KCS--individuals who trusted this man and his company with their money to secure funding only to be swindled out of it. There was a comment posted after the dispute by KCS Funding and I think it bears reading again so I will post it here as well to all those who have suffered under the unscrupulous business practices of Greg Kuczora and KCS Funding. Also there are rumors of this company trying to buy a bank in the Caribbean for the "Big Escape." We also want Chase and Wells Fargo Banks to know that they hold accounts for KCS funding where these "earnest" money deposits are made and to be on alert for potential problems for assisting in these transactions. Below is the comment added in regards to the first dispute by KCS Funding:
The complaint that was registered against KCS funding is a viable complaint. There have been other discoveries that KCS funding is another type of Ponzi scheme and have gone to individuals and promised them funding for all business endeavors promising amounts in the upwards of $500, 000 to millions of dollars and asking for "earnest" money up front in smaller amounts like $10, 000 to $20, 000. The catch is just as the complaint says that KCS keeps asking for documentation then very intelligently stalls and says to wait just one more week and then again, one more week. The truth is that they never fund, so if the guy in the complaint went behind their back and acquired a loan that was only because probably after waiting months and months, they had to do something. Mr. Gregory J Kuczora, the supposed CEO of this Ponzi scheme company states in the comment above that the contract signed by the complainant states that they could not circumvent the contract and if they do then KCS can seek their fee. What fee? Actually there are probably no investors--then KCS tries to scare you into thinking they will now come after you so the $10, 000 to $20, 000 you gave in earnest money is now their fee and thus since you canceled the contract they will now come after you. Thing is, they never do, KCS just walks away with trusting people's hard earned money. The emails back and forth in the comment above are easily generated and are probably templates set to dispute these type of complaints. I encourage you to remember these items before considering funding with KCS: 1.) After speaking with all major banks, none of these banks have ever heard of putting up earnest money in those amounts--think about it--have you ever gone to make a loan with a bank and had to give them money? 2.) If it sounds too good to be true, it probably is. 3.) Funding for these types of loans take usually no longer than 60 days not months and months or even years. Again, all of the above emails can easily be generated to make it look like the complainant was ludicrous. I encourage all of you who have been scammed by KCS funding to please contact your state's Attorney General's office as well as the Attorney General of the State of Illinois and file a complaint. Look for information soon regarding other complaints and a class action lawsuit to shut these guys down. In fact if you do a background check on some of the members of this company as posted on their website, you will be surprised of what you find.
I urge all of you swindled by this company to post on this board. The time for Ponzi schemes must end. Please call your attorney general of your state as stated above and go to your nearest police station and file a complaint if this has happened to you. Also watch for a future website for all of those swindled by this company to get together and file a class action lawsuit. I actually have read one of these contracts myself and can say--KCS has NO LEG to stand on!