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KCS Financial / Unauthorized fees &earnest money&

1 180 Dickens Trail Suite BElgin, IL, United States Review updated:
Contact information:
Phone: 1-847-742-3475

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!

Mr

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Comments

  • Mr
      11th of May, 2009
    -6 Votes

    I have been working on and off with this firm and have done a couple deals with them over the last several years. Both deals required significant information from me. I complied with every step and WAS SUCCESSFUL BOTH TIMES. I have referred several people to these gentlemen and they too have done successful business with KCS. I do not know your business but IF THE FUNDING FAILED, it must have been due to you lack of required information.

    I am a selective reference for these boys and would not hesitate to use them again. It is a god awful shame that anyone can "BYPASS" lawful remedy and presume these boys guilty and try to destroy their business. These boys give their heart and soul in the job for us (the people making the loan). They are intelligent, and bright men, They DO WHAT THEY SAY THEY ARE GOING TO DO.

    I AM WRITING THIS AFTER GREG CALLED ME ABOUT THIS. HE SAID YOU CANCELLED THE DEAL 3 SEPARATE TIMES (consuming trmendous time) AND THEY LOST THE LENDER TWICE, AND HAD TO START OVER EACH TIME YOU RESTARTED. Finally, the seller backed out after your business dropped and had to requalify. He said he also gave you a credit so you can use it towards the costs when your business recovers and you are ready to expand.

    Walmart has 176 compliants, so you dont shop there?

  • No
      12th of May, 2009
    +8 Votes

    Mr. Big,

    Well I just read both comments and I have to say--I TOO was ripped off by this company for $10, 000 and apparently close to the same reasons as the above comment. I am so glad that your venture was successful--are you Greg's brother? You can say lack of information, but as for me, they had EVERY bit of information and documentation they needed. They used every stall tactic in the book. I don't want to destroy their business, just want MY money back. Wish I knew the person above so we could compare stories--can say would not be much of a difference I am sure of it. Oh and yes, for the first complaint listed, not much difference from the second nor mine--so this would be the third and I am sure once word gets out there will be a 4th, 5th, and 6th and so on. Now I did not cancel my deal 3 times, but if i did, I guess the first time I cancelled, I would expect to get my money back and maybe minus a nominal fee--like $100 for all those countless emails you guys probably wrote. My question is then for the person above, how can you cancel three times unless the "good ole boys" at KCS kept promising what they could not deliver literally begging this person to stick with it and them. So, if the applicant above did not really cancel because KCS assured him of funding (now remember he cancelled three times), why would they stop the deal causing the deal to start over---hmmmmmmm--sounds very fishy to me--why not just cut the losses and refund back the money that was put down for the deal? And what if the person above did not want to restart? Same problem with me-they keep leading me on. Oh and Mr. Big, those KCS boys sure do put their heart and soul in taking people's money without services. Now, regarding the comment above "Finally, the seller backed out after your business dropped and had to requalify." Okay the seller backed out presumably because funding did not happen in a reasonable amount of time (by the way for me it has been over 8 months) and I am sure for that person probably along those lines of waiting as well. Requalify? Requalify for what is my next question. It appears to me the seller went with someone else so the deal is off, so that person should get their money back. KCS did not fund in time--your fault KCS. As for as the credit thing--I laughed hard at that one--seems like that person does not want to do business with you all and I am sure is not amicable to taking a "Credit". So ask Mr. Kuczora, Mr. Big, since you are all such good friends, why he won't return the money back to all of us he could not fund. I don't want a credit neither, just my money and be on my way. But I guess that is not going to happen. Oh and the first guy who complained--saw that ABCO leasing is an affiliate of KCS--YOU DON"T SAY! Oh and by the way Mr. Big, saw on the KCS website that a funding was done for the Walgreen corporation--just so happens I have a friend high up in the Walgreen corporation--very high up and he says he never heard of you guys and their funding comes from another source. Oh and finally Mr. Big--I do not shop at Walmart as Sam Walton began that company having everything USA made and now everything is from China--so as my way of being patriotic to the hard working people of the USA, I only shop at stores that carry American made goods. But even if I did shop there and bought something and when I got home it was not what I wanted, they would take it back and refund my money--shame your fellow can't do the same, but then again I guess I would have to be friends with him like you in order to get my refund and write nice things about him.

  • Kc
      29th of May, 2009
    Best Best Advice +8 Votes

    Mr. Big - Greg Kuczora is a joke. He is not an underwriter for the lender, he is a broker that misrepresents himself. Now, he out touting that he owns a bank out of Panama. It is easier to screw people out of money if you tell them that you are a bank. I have 3 good friends that gave this douche bag money because he promised them that he could do something that he could not. He took a total of $120, 000.00 in up front fees and nothing happened. They kept getting more and more documentation for Greg, once Greg received that he came back and asked for more documentation. Finally, after spending thousands of more dollars on business evaluations and appraisals, proforma change after proforma change; Greg said that he was going to send the information to the lender. Nothing happened. What I want to know is who the heck is his "lenders." What a bunch of BS. Word to the Wise, KCS, Alliance Capital Banc, and Greg Kuczora is a Joke.

  • Wa
      14th of Aug, 2009
    +2 Votes

    To all of you that were suckered into Mr. Kuczora's scheme--here is some valuable information: Mr. Kuczora filed Chapter 13 bankruptcy in January 2007 along with his wife and suddenly has this new company formed (KCS Financial). His Elgin, Il address is his personal home and there is no "suite" unless he calls his living room a "suite." In June 2009, Mr. Kuczora was contacted by the bankruptcy court in Northern Illinois to have his bankruptcy dismissed for non payment of his Chapter 13 bankruptcy agreement. So all of these up front fees went to pay for his monthly payment of his Chapter 13 bankruptcy--guess he ran out of money and had his case dismissed. So now all of his previous creditors are trying to get their money back. Oh, by the way, all of this information can be found on the PACER website which list all court cases including bankruptcy cases. If he does have a bank in Panama--he will probably be fleeing there soon with all the money. His broker in Arizona was indicted several years ago for fraud with an elderly couple trying to take their house away from them in another scheme. All of the contacts on his website are FALSE.

    Before you do any business with this company, please, please go to the PACER website and look up the information. This man is a complete fraud and so are his colleagues. Contact your attorney general's office if you have done business with this man and try to get him before he flees the country. And please do not do business with him!

  • Kc
      21st of Aug, 2009
    +5 Votes

    Got to feel sorry for this guy's kids--Mom and Dad are "Grifters"---a Chapter 7 bankruptcy in 1994 and a Chapter 13 bankruptcy in 2007--it is people like that that caused the more stringent bankruptcy laws to begin with. Kuczora did give money back though--I guess he needed political backing being it is Illinois--he mentions on his website that he is speaking at an Obama economic summit and then has a $300 campaign contribution given to the National Republican Committee--odd don't you think. I guess he thought he could hang with the thieving aristocratic rich Republican Party but "switched his tune" after Obama won. One more piece of information--keep looking at the PACER website because if Mr. Kuczora tries to file a Chapter 7 after failing to pay for his Chapter 13--he WILL NOT BE ABLE TO DO SO if all of you who have been scammed contact the bankruptcy judge and say that his bankruptcy is a fraud as he has taken all of this money--All of the banks that you wired this money to or paid all have records to the effect and regardless of how smart Mr. Kuczora thinks he was--it can be traced to him. But let's not just focus on him--go after the broker in Arizona, the other owner in Discovery Bay, CA--who also has an address with a "suite" and it is also his house--just google it. I think good hard jail time for a few years will definitely change his attitude before he scams someone else. Sad thing is, I would say, take everything from him but there is probably nothing left, at least in the US, and for God sakes take away his passport--all of them. And to those of you he cons into still not believing it--his bankruptcy case number is 07-01608 filed in the Northern District of Illinois Bankruptcy Court in the Eastern Division. All of this paperwork can be found on the PACER website--spend the few bucks to retrieve the documents so you are informed! Also notice the Chapter 7 filed in 1994. Thank you for your time.

  • Co
      22nd of Dec, 2009
    0 Votes

    prove it

  • Wa
      19th of Feb, 2010
    +1 Votes

    Oh, I can prove it--check your inbox mail--there is a sampler just for you!! Your dismissal papers from the judge dismissing your Chapter 13 bankruptcy for non-payment. I have all the papers and filings from both bankruptcies from the PACER website and it was the best $20.00 I ever spent!

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