Back in February 2014, I submitted a report to your website, regarding Mr. Allen Shi and Paul Wolf, of Phoenix Investment Group (known also as PGI Group Invest or PGI-KR), and other companies for which I believe may have been involved in a scam. I submitted the report as a result of ignored communications from PGI GroupInvest.
After numerous conversations and many broken promises since October 2013, my company reported PGI GroupInvest www.RipoffReport.com.
Shortly thereafter, I received a communication from PGI-KR, obviously upset that I posted a report to your website. On February 11, 2014, CEO Allen Shi and CFO Paul Wolf affirmed their “priority” commitment to funding my company’s venture, by signing a letter stating PGI-KR will:
a. Guarantee and provide funding to [company’s name redacted], in the amount of $12,000,000.00 (US Dollars), within, but no later than 7 to 14 days from the date of this letter.
b. Waive the requirement for [company’s name redacted], to secure a Capital Investment Guarantee Policy for said loan as defined in the initial Loan Term Sheet.
c. Authorize [company’s name redacted] to publish derogatory information about PGI-KR if said company does not comply with the above within 14 business days. PGI-KR will hold harmless, [company’s name redacted]for any derogatory information published.
My firm accomplished everything that we committed to, and yet, the PGI-KR continued to delay funding week after week.
On March 24, 2014, Mr. Wolf sent me a corrupt .exe application file, purported to have the closing docs. Since informing Mr. Wolf of the corrupted application, I still have not received any documents.
On April 26, 2014, I was presented with an opportunity to purchase a very nice and well-priced Assisted Living Facility. I wrote PGI-KR and asked for them to sign another “commitment letter”, to reaffirm the previous legal and financial obligations that they have consistently ignored. Mr. Wolf signed another commitment letter for the main purpose of providing me comfort in signing a contract for an Assisted Living Facility in Orlando.
The interim contract required me (the buyer) to provide the seller with a commitment letter (which we did on April 27, 2014) and it also requested a copy of the closing instructions/funding directives by April 30, 2014. After numerous communications, PGI-KR neglected to provide closing instructions pursuant to the contract. As a result of their non-compliance, the contract was cancelled and another buyer purchased the facility.
On April 30, 2014, I sent PGI-KR a Letter of Non-Compliance, attached, informing them that to date, PGI-KR has not followed-thru on any “binding” commitment/requirement that you have promised.
On May 5, 2014, Mr. Wolf sent me an e-mail informing me my company would be credited on Friday (May 9, 2014). May 9th came and went. Then on May 11, 2014, Mr. Wolf wrote, “Wait until the 25th to receive Credit Finally.”
The last communication from Mr. Wolf was on May 23, 2014, when he stated, “Funds transfer is not as easy as illustrated in your emails but we got confirmation that credit will be confirmed with you on the 28th.” As usual, that date has come and gone!
PGI is not a reputable company, does not comply with anything they sign. They are hopeful that you’ll be so excited that they “purportedly” approved the funding for your company, that you’ll pay for the “loan guarantee, in advance”, so they can walk with your money. If you hear from them, walk the other way!!
Pgi-Kr.com Reviews
Back in February 2014, I submitted a report to your website, regarding Mr. Allen Shi and Paul Wolf, of Phoenix Investment Group (known also as PGI Group Invest or PGI-KR), and other companies for which I believe may have been involved in a scam. I submitted the report as a result of ignored communications from PGI GroupInvest.
After numerous conversations and many broken promises since October 2013, my company reported PGI GroupInvest www.RipoffReport.com.
Shortly thereafter, I received a communication from PGI-KR, obviously upset that I posted a report to your website. On February 11, 2014, CEO Allen Shi and CFO Paul Wolf affirmed their “priority” commitment to funding my company’s venture, by signing a letter stating PGI-KR will:
a. Guarantee and provide funding to [company’s name redacted], in the amount of $12,000,000.00 (US Dollars), within, but no later than 7 to 14 days from the date of this letter.
b. Waive the requirement for [company’s name redacted], to secure a Capital Investment Guarantee Policy for said loan as defined in the initial Loan Term Sheet.
c. Authorize [company’s name redacted] to publish derogatory information about PGI-KR if said company does not comply with the above within 14 business days. PGI-KR will hold harmless, [company’s name redacted]for any derogatory information published.
My firm accomplished everything that we committed to, and yet, the PGI-KR continued to delay funding week after week.
On March 24, 2014, Mr. Wolf sent me a corrupt .exe application file, purported to have the closing docs. Since informing Mr. Wolf of the corrupted application, I still have not received any documents.
On April 26, 2014, I was presented with an opportunity to purchase a very nice and well-priced Assisted Living Facility. I wrote PGI-KR and asked for them to sign another “commitment letter”, to reaffirm the previous legal and financial obligations that they have consistently ignored. Mr. Wolf signed another commitment letter for the main purpose of providing me comfort in signing a contract for an Assisted Living Facility in Orlando.
The interim contract required me (the buyer) to provide the seller with a commitment letter (which we did on April 27, 2014) and it also requested a copy of the closing instructions/funding directives by April 30, 2014. After numerous communications, PGI-KR neglected to provide closing instructions pursuant to the contract. As a result of their non-compliance, the contract was cancelled and another buyer purchased the facility.
On April 30, 2014, I sent PGI-KR a Letter of Non-Compliance, attached, informing them that to date, PGI-KR has not followed-thru on any “binding” commitment/requirement that you have promised.
On May 5, 2014, Mr. Wolf sent me an e-mail informing me my company would be credited on Friday (May 9, 2014). May 9th came and went. Then on May 11, 2014, Mr. Wolf wrote, “Wait until the 25th to receive Credit Finally.”
The last communication from Mr. Wolf was on May 23, 2014, when he stated, “Funds transfer is not as easy as illustrated in your emails but we got confirmation that credit will be confirmed with you on the 28th.” As usual, that date has come and gone!
PGI is not a reputable company, does not comply with anything they sign. They are hopeful that you’ll be so excited that they “purportedly” approved the funding for your company, that you’ll pay for the “loan guarantee, in advance”, so they can walk with your money. If you hear from them, walk the other way!!