I'm The Solution, LLC. One on One Coaching Programno refund for services not rendered

1
This review was posted by
a verified customer
Verified customer

I put down a 12, 500.00 deposit to hold a spot for Lee's one on one mentor program that costs 34, 000.00. When I came to my senses and realized that it was not a smart business decision, I called to cancel and get my money back since we had not even started and wouldn't have for months. Lee has a business policy that you have 3 days only to get a refund for products or services, which he stands by. It is however, unethical to keep customer's money when you have not rendered the services to them. You may have any policy for your company that you want, but it doesn't make it good business, fair, or good treatment of your fellow man.

Responses

  • Tr
    Trish cunningham Sep 25, 2014

    STATEMENT OF CHARGES AND NOTICE OF INTENT TO ENTER ORDER TO CEASE AND DESIST


    STATE OF WASHINGTON DEPARTMENT OF FINANCIAL INSTITUTIONS SECURITIES DIVISION
    IN THE MATTER OF DETERMINING Whether there has been a violation of the Business Opportunity Fraud Act of Washington by:
    Secured Investment Corp.; and Lee Arnold; Respondents.
    ) ) ) ) ) ) )
    Order No.: S-13-1250-14-SC01
    STATEMENT OF CHARGES AND NOTICE OF INTENT TO ENTER ORDER TO CEASE AND DESIST
    THE STATE OF WASHINGTON TO: Secured Investment Corp.; and Lee Arnold
    STATEMENT OF CHARGES
    Please take notice that the Securities Administrator for the state of Washington has reason to believe that Respondents Secured Investment Corp. and Lee Arnold have violated the Business Opportunity Fraud Act of Washington and that their violations justify the entry of an order of the Securities Administrator under RCW 19.110.150 against the Respondents to cease and desist from such violations. The Securities Administrator finds the following:
    TENTATIVE FINDINGS OF FACT
    Respondents 1. Secured Investment Corp. is a Wyoming corporation formed in 2011 for the purpose of operating a private real estate lending business, hosting real estate investment seminars, running a loan servicing company, and maintaining a referral program. Secured Investment Corp. operates its referral program using the name “Private Money Exchange.” The company maintains a principal place of business in Coeur d’Alene, Idaho. 2. Lee Arnold, a Washington resident, acts as the principal and Chief Executive Officer of Secured Investment Corp. Introduction 3. Secured Investment Corp. operates a private real estate lending business, in which it matches prospective borrowers that seek financing to purchase non-owner occupied real estate with private lenders that seek to earn income by lending to select borrowers. Secured Investment Corp. underwrites and executes each loan, and the company collects a number of fees for each loan that it brokers. Each loan that Secured Investment Corp. brokers is secured by the mortgage or deed of trust for the purchased property.

    STATEMENT OF CHARGES AND NOTICE 2 DEPARTMENT OF FINANCIAL INSTITUTIONS OF INTENT TO ENTER ORDER TO Securities Division CEASE AND DESIST PO Box 9033 Olympia WA [protected]-8760
    1
    2
    3
    4
    5
    6
    7
    8
    9
    10
    11
    12
    13
    14
    15
    16
    17
    18
    19
    20
    21
    22
    23
    24
    25
    4. Lee Arnold created a referral program to increase the pool of prospective borrowers and private lenders for Secured Investment Corp. Through the referral program, Secured Investment Corp. makes payments to third-parties for referrals of prospective borrowers or private lenders that enter into a loan brokered by Secured Investment Corp. 5. Lee Arnold advertised the referral program through the websites for Secured Investment Corp. and through real estate investment seminars that he hosted. From 2012 to date, approximately 22 Washington residents have paid to join the referral program, and during this period, Secured Investment Corp. has collected approximately $22, 000 from these Washington purchasers. Nature of the Referral Program Offering 6. For a fee of $997, Secured Investment Corp. provides purchasers with marketing and training material, offering purchasers the opportunity to earn money by referring prospective borrowers and lenders to its private money lending business. 7. As part of the purchase fee, Secured Investment Corp. states that it will provide purchasers with their own squeeze page or landing page, which is a single web page that advertises Secured Investment Corp.’s services and invites visitors to submit their contact information. Purchasers can track the information submitted through their squeeze page on an online account provided by Secured Investment Corp. The online account also contains short training videos about best practices in marketing. Secured Investment Corp. represents that it will offer technical support services for each purchaser’s online account. 8. Secured Investment Corp. further represented that it would provide purchasers with ongoing training, such as access to weekly real estate webinars hosted by Lee Arnold or other Secured Investment Corp. representatives. Secured Investment Corp. also claimed that it would supply purchasers with Secured Investment Corp. advertising and promotional material, as well as with personal business cards with the Secured Investment Corp. logo. 9. Purchasers can either be individuals or legal entities, but Secured Investment Corp. asserts that purchasers act as independent contractors for, rather than as employees or agents of, Secured Investment Corp. Purchasers, Secured Investment Corp. represents, can work from home on their own terms. 10. For every loan that Secured Investment Corp. brokers between a prospective borrower or private lender recommended to the company by a purchaser, Secured Investment Corp. states that it will pay the purchaser twenty- five percent of the origination fee that Secured Investment Corp. collects. For example, if Secured Investment Corp. charges a six percent loan origination fee on a $100, 000 loan brokered between either a prospective borrower or private lender that a purchaser recommended to the company, then Secured Investment Corp. will pay that purchaser twenty-five percent of the loan origination fee that it collected, or $1, 500. 11. Lee Arnold represents that through the referral program, an average deal pays purchasers $1, 500, although he has failed to provide purchasers with the basis or assumptions underlying this claim. Additionally, at one time, Secured Investment Corp. provided purchasers with a thirty-day money back guarantee. Currently, Lee Arnold guarantees

    STATEMENT OF CHARGES AND NOTICE 3 DEPARTMENT OF FINANCIAL INSTITUTIONS OF INTENT TO ENTER ORDER TO Securities Division CEASE AND DESIST PO Box 9033 Olympia WA [protected]-8760
    1
    2
    3
    4
    5
    6
    7
    8
    9
    10
    11
    12
    13
    14
    15
    16
    17
    18
    19
    20
    21
    22
    23
    24
    25
    purchasers that if they do not double their initial payment of $997 within twelve months, then Secured Investment Corp. will write the purchaser a check for $1, 994. Neither Lee Arnold, nor Secured Investment Corp., provided purchasers with any information about Secured Investment Corp.’s ability to finance these refunds. 12. Two years ago, Secured Investment Corp. cancelled the weekly real estate webinars that it hosted, and some purchasers have yet to receive any advertising material or business cards from Secured Investment Corp. Moreover, both Lee Arnold and Secured Investment Corp. have failed to disclose to purchasers what percentage of purchasers receive any compensation from the referral program. Past Litigation 13. In 2009, in Utah, Lee Arnold was named as a defendant in a civil suit alleging misappropriation of funds. In 2011, the parties settled the matter out of court. 14. Both Lee Arnold and Secured Investment Corp. failed to disclose to purchasers this past litigation and would have been required to list it in a business opportunity disclosure document. Failure to Provide a Disclosure Document 15. In connection with the offer and sale of the Secured Investment Corp. business opportunity, the Respondents failed to provide prospective purchasers with a disclosure document as required by RCW 19.110.070. Registration Status 16. Respondents Secured Investment Corp. and Lee Arnold are not currently registered to sell business opportunities in the state of Washington and have not been previously so registered. Based upon the above Findings of Fact, the following Conclusions of Law are made:
    CONCLUSIONS OF LAW 1. The offer and sale of the opportunity to become part of the Secured Investment Corp. referral program as described above constitutes the offer and sale of a business opportunity as defined in RCW 19.110.020 and RCW 19.110.030. 2. The offer or sale of this business opportunity is in violation of RCW 19.110.050 because no registration for such offer and sale by Respondents Secured Investment Corp. and Lee Arnold was on file with the Securities Administrator for the time periods during which these offers and sales occurred. 3. The offer and sale of this business opportunity was in violation of RCW 19.110.070 because Respondents Secured Investment Corp. and Lee Arnold failed to provide prospective purchasers with the required disclosure document. 4. The offer or sale of this business opportunity was made in violation of RCW 19.110.120 because Respondents Secured Investment Corp. and Lee Arnold omitted to state material facts in connection with the offer and sale of a business opportunity in Washington.

    STATEMENT OF CHARGES AND NOTICE 4 DEPARTMENT OF FINANCIAL INSTITUTIONS OF INTENT TO ENTER ORDER TO Securities Division CEASE AND DESIST PO Box 9033 Olympia WA [protected]-8760
    1
    2
    3
    4
    5
    6
    7
    8
    9
    10
    11
    12
    13
    14
    15
    16
    17
    18
    19
    20
    21
    22
    23
    24
    25
    NOTICE OF INTENT TO ORDER THE RESPONDENT TO CEASE AND DESIST Based upon the above Tentative Findings of Fact and Conclusions of Law, the Securities Administrator intends to order that Respondents Secured Investment Corp. and Lee Arnold, including their agents and employees, each shall cease and desist from violations of RCW 19.110.050, RCW 19.110.070, and RCW 19.110.120.
    AUTHORITY AND PROCEDURE This Order is entered pursuant to the provisions of RCW 19.110.150 and is subject to the provisions of Chapter 34.05 RCW. Respondents Secured Investment Corp. and Lee Arnold may each make a written request for a hearing as set forth in the NOTICE OF OPPORTUNITY TO DEFEND AND OPPORTUNITY FOR HEARING accompanying this order. If a respondent does not request a hearing within the allowed time, then the Securities Administrator intends to adopt the above Tentative Findings of Fact and Conclusions of Law as final and enter an order to cease and desist permanent as to that respondent.
    Signed and Entered this _______20th______ day of ____August______________________ 2014.
    _____________________________ William M. Beatty Securities Administrator
    Approved by: Presented by:
    _______________________________ ______________________________ Suzanne Sarason Eric Palosaari Chief of Enforcement Financial Legal Examiner Reviewed by:

    0 Votes
  • 12
    12500 Sep 07, 2011
    This comment was posted by
    a verified customer
    Verified customer

    7 months later I did get 6, 000.00 back and they kept the rest for me to spend on products or services even though I needed my money back. I am grateful that I at least got back 1/2 of my deposit.

    0 Votes
  • 12
    12500 Sep 07, 2011
    This comment was posted by
    a verified customer
    Verified customer

    I want to say that after 7 months of phone calls and crying and begging. I did get 6, 000.00 back, but they kept the rest as a credit that I have to spend with his company for products or services. I am grateful I got some back.

    0 Votes
  • Go
    Gotchya2008 Apr 20, 2011
    This comment was posted by
    a verified customer
    Verified customer

    I can't believe this Con Artist still rubbing innocent hard working greedy Americans,
    Yes this guy is a Con Artist and use many names out there Private Money bank, Advantage Marketing group he already been kicked out Utah2009 and lost all his scam money and restituted to the victims and he is not allowed to do business on that state in any shape or form, you should immediately Contact the office of the attorney General of your state and the state of WA where he is hiding in his Parents Basement, also contact Consumer protection Agency In your State and WA. he also been closed down in ID state .the DFI and the IRS in WA, CA have a criminal case against him and many of his disciple's .
    Make sure to mention that you know the Christian Church in Spokane, WA, " He the Solution.com" where he is and his family members are posing as ministers collecting Donations illegally where also IRS is investigating.
    He and the so called Christians accomplices can Run they have no way to hide as the FED's are on his back make your case know to the proper authority's even if you got your money back as I did.

    1 Votes

Post your comment

    By clicking Submit you are agreeing to the Complaints Board’s Terms and Conditions

    IN THE NEWS

    Unhappy consumers gather online at Complaintsboard.com and have already logged thousands of complaints.
    If you see dozens of complaints about a certain company on ComplaintsBoard, walk away.
    One of the largest consumer sites online. Posting here your concerns means good exposure for your issues.
    A consumer site aimed at exposing unethical companies and business practices.
    ComplaintsBoard is a good source for product and company gripes from especially dissatisfied people.
    You'll definitely get some directions on how customer service can best solve your problem.
    Do a little research on the seller. Visit consumer complaint websites like ComplaintsBoard.