Regency Capital Solutions LLC
Complaint 38317 Details

I was contacted by phone by Mr. Wayne Harper at 1 (877) 408-7398 Ext. 541, who claimed he was with Regency Capital and I was approved for a $10,000 secure loan. I just needed to email or fax two pieces of ID, a voided check (of where the funds were to be deposited), proof of income and a signed contract. After I was approved I would need to wire $905.00 (to cover the first four months payments and as a security deposit for my loan in case I defaulted). Okay, this sounded pretty legit so far. I told him I was uncomfortable sending money first and asked him to take the $905.00 out of the loan. He said that's not how it worked. (first red flag) He faxed the loan agreement which was very straight forward. However there were more red flags in the loan agreement and on the stationary. I looked up the company online and it seemed to be a legitimate company on the surface. When I did some digging I found that the New York, NY address on the stationary (130 7th Ave New York, NY - 10011) was a UPS store and did not match the address where my payment was to be mailed to which was 708 Third Avenue, Suite 600. (red flag) This address is actually a Virtual Office where people my rent a conference room and have their mail delivered. Maybe the company just wanted a New York address to look more posh than having just a Florida office. However the Florida address is also a dead end. 4400 Biscayne Blvd Miami, FL - 33137 is an office building but Regency Capital is not on the directory. (red flag)
Then there is a matter of their phone/fax numbers. The number that I was to reach Mr. Harper at is (877) 408-7398 Ext. 541, however the number that showed up on the caller ID is 855-001-0016. The fax number (347) 626-2691 is most recently traced back to a phone number in the UK. (red flag)
The largest red flag of all was when I was told I need to send $905.00 from a Western Union IN PERSON, NOT ONLINE (this was to prove that I was who I was saying I was) even though I am a Western Union Gold member (I used to wire money to my sister pretty regularly). No, it had to be in person and I was to wire the money to St. Patrick Dawkins, New York, NY 10011. Not attn someone in Accounting c/o Regency Capital but to St. Patrick Dawkins. This stopped me in my tracks and I started to really dig. I was first contacted on Wednesday, 11/16/11, I was approved Friday 11/18/11, was instructed to wire the money immediately however the $10,000 would not be deposited to my account until the following Monday or Tuesday because it automatically rolls over to the following week because it was a Friday.
I did not wire the money because something was nagging me.
I had been searching for more details about this company from the moment they contacted me but could not find anything. I was going to call Mr. Wayne Harper on Monday morning and demand further proof that this was a real lender. I was going to ask for a Federal Tax ID or a Lender ID.
It wasn't until 5:00 AM Monday 11/21/11 that I was able to find the complaints on this website. Which also led us to a fourth complaint which is under Aspire Wealth Financial Group. The link is St. Patrick Dawkins. Back in October 2011, Regency Capital Solutions LLC was Aspire Wealth Financial Group, running the SAME scam.
After finding this final piece of info, the deal was most definitely off and I turned off the ringer to the phone and went to sleep. Mr. Harper called at 6:46 AM, 8:12 AM and 11:51 AM, leaving only one message telling me to contact him urgently.
When I did call back I told him, "I am not comfortable wiring $905.00 to some mystery name that has no attachment to Regency Capital, so why don't you just go ahead and deposit the $10,000 I was approved for and I will send you the $905.00 back out of that."
Wayne Harper's response to this was not a reassurance that this was in fact a legitimate offer and a real company and we can work something out. No, Wayne Harper said quite flatly "well that's never going to happen".
In conclusion, be wary of anything at seems to be just too good to be true, because it usually is. And always trust your instincts.
I found this via the Federal Trade Commission website. "It is illegal for companies doing business in the U.S. by phone to promise you a loan and ask you to pay for it before they deliver."