American United Capital, Inc. Review

1/5 - (4 votes)

This is an archive of a consumer complaint published against American United Capital, Inc. at on 13-Jun-15.


Business Details –

  • Name: American United Capital, Inc.
  • Address: 2175 South Jasmine Street, Suite C-2
  • City: Denver
  • State: Colorado
  • Country: United States
  • Phone: 303 901-(5626)
  • Website:


Original Complaint against American United Capital, Inc. published at on 13-Jun-15 says, verbatim –

We are a hard money and commercial loan broker in NJ. An associate broker of ours brought us a fantastic deal | from an upcoming app developer seeking funding to develop and implement a new point-of-sale system for a | niche industry. The client was seeking $1,500,000 for a 1-2 year term offering a whopping 25% interest on the funds | plus 10% of the company’s stock in addition to full repayment. | I found Joe Sigel (of American United Capital) on Scotsmanguide seeking hard money Purchase & Rehab financing options | for my clients. I left him a voicemail and he returned my call quickly. We started talking about purchase & Rehab | funding and he told me he has funded “some quirky stuff”. He said that he has funded films, | start-ups, and other hard-to fund deals in addition to his usual real estate deals and that | ‘he funds whatever the **** he wants” since it’s his money. He asked if I had anything “different” | that I’d like to run by him. I told him about the technology start-up I was working on. | He asked if we could get the client on the phone right now? I did , and after my client made | an impressive presentation, he said he was very interested in funding but he would need | up-front ‘due diligence’ fees of 1% since the project was for a niche industry, which would | be non-refundable, but that he knew experts in the industry and just needed to make sure that | the project was ‘viable.’ | | The client was wary of the fee but that they saw where he’s coming from and that they were willing to ‘play ball’. | We asked him what his due diligence would entail, and he said that his attorney, Marty Bloom | (of BIEGING, SHAPIRO & BARBER LLP, Denver Colorado) handles everything for him, | and that when we send him $2500 of the $15,000, Mr. Bloom would reply with a letter confirming receipt | of the $2500 and then once we got the letter, the client was towire the remaining $12,500 for due diligence to | Joe’s account directly. He also noted that usually, the attorney would not even provide a letter of confirmation | and that he was ‘doing us a favor’ by doing so. When the client sent the $2500, Joe’s attorney did | respond with the aformentioned confirmation letter. The clients signed and wired the remaining | $12,500 to Joe, who did not respond at all after receiving the funds. Instead, Mr. Bloom responded | via email after about 24 hours of the due diligence funds being sent, and requested that we send him all | documentation that we have on the project including Business Plan, Corporate info, etc. | This request for documentation was the last contact we received from Mr. Bloom. | | In the following 2 weeks, Joe Siegel and Marty Bloom consistently ignored us, and did not return any | calls or emails we sent asking for an update from them. With the client on the phone, I finally got Joe to | answer his phone 2 weeks after the clients paid for “due diligence”; he was extremely vague and short | with us and said that he said he was “waiting on one guy to get back to him about the deal” | and that he would have a final decision for us the following Monday. | | Needless to say, he did not get back to us that Monday. Exactly 3 weeks after my client wired $15,000 to Joe, | he called me up and said that he cannot fund the deal because “his attorney advised him not to” | He said he could not tell me what the attorney’s reasons were. I told him that is not acceptable | and that if he is going to take $15,000 from my client and deny them, then he owes them an answer, | and he said he “cannot tell them why.” I tried to get an answer out of him and he hung up on me. | BE WARNED, MR. BROKER: Do not trust Joe Siegel or his cohort lawyer Marty Bloom – | they are only after your due diligence fees and will definitely NOT fund your deal.

Visit the external source link

Leave a Reply

Your email address will not be published.