Armando Montelongo Seminars, LLC Review

1/5 - (4 votes)

This is an archive of a consumer complaint published against Armando Montelongo Seminars, LLC at Scamity.com on 11-May-15.

 

Business Details –

  • Name: Armando Montelongo Seminars, LLC
  • Address: 2935 Thousand Oaks Drive
  • City: San Antonio
  • State: Texas
  • Country: United States
  • Phone: 877-217-2124
  • Website: www.armandolive.com

 

Original Complaint against Armando Montelongo Seminars, LLC published at Scamity.com on 11-May-15 says, verbatim –

I am a 66 year old female, retired and on Social Security. My income is $1,450/month. In late 2013 and early 2014, I bought into Armando Montelongo’s program, giving it $66,495 for real estate training. $25,000 was for training I was unable to attend. Within a couple months of paying $25K, my health began to fail, I was easily fatigued, feeling ill. And, the depression with which I had struggled for decades became exacerbated. In June, 2014, I was diagnosed with mononucleosis. Today, the fatigue continues to quickly wear me to exhaustion on any given day. | | The Details: | During the first paid seminar ($1,495), in Denver in Nov, 2013, we were told the next seminar (the $40,000 “Bus Tour) would supply us with funding sources to purchase properties to either flip or hold for income. I remember the presenter, “Bob”, encouraging us to use credit cards as much as possible to help purchase property, so to get to the Bus Tour I put $20K on credit cards. Content of the seminar clearly lead attendees to believe they would find money at the Bus Tour to purchase their first property. In addition to training, this was a primary reason I went on the Bus Tour, to locate the professed financial source for funding purchases. | | Alleged Deceit: | The funding sources revealed at the Bus Tour, in Scottsdale, AZ, were my own Roth IRA and loans from other students there. No other resources were made available. The most I found among the other students was a paltry $10,000, which that attendee did not want to loan to anyone. My own Roth IRA would not permit a bulk withdrawal, so was useless for investment in real estate. | | Even after the discouraging funding info taken away from the Bus Tour, having already put $41,495 into it, I felt compelled to complete the training and possibly find funding sources at one of those two seminars in San Antonio. I was encouraged by AMS staff to put down another $25,000 for two more seminars in San Antonio and on-site mentoring in Denver. But, I did not yet have funds enough to cover travel and accommodations for the Texas seminars. Then, my health began to give me trouble. In June, I was diagnosed with mononucleosis, which I expected to run its course and see my health bounce back. But, after almost a year now, it has not. | | By February, 2015, I knew I could never pursue the program: | Requesting the $25K be returned, I have: | Made 10 calls to AMS/PAG in San Antonio explaining my situation. I’ve been told by various personnel that I had 3 days to cancel. I’ve told them my health problems kicked in well after 3 days. Each time, I was told someone will call me back. No one ever has. | Sent two return receipt letters to AMS and PAG in March and April, which are unanswered. I explained to Mr. Montelongo and his Performance Advantage Group, the fact that I had put all my savings into his program, as well as some $20,000 in credit card debt; that I am on fixed income of $1450/month and because of my investment in his program, I am now quickly approaching bankruptcy. I begged him for mercy, requesting the unused $25,000 to avoid this. There has been no response. | | With life-long excellent credit, retired on fixed income and deteriorating health, this is a very frightening situation for me. I am in danger of losing what little I have left, including my home.

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