COMPLAINT FILED UNDER:: FINANCIAL SERVICES / FIRST CONTACT FOR WEALTH
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First Contact for Wealth
Complaint 66392 Details

  • Date Occurred: 01/20/2014
  • Reported Damages: $20,000.00
  • !

The complaint is against an online dating profile

The complaint is a listing fraud posted on public forums or sites against an anonymous entity

The complaint is mobile text spam or smishing related against an anonymous entity

The company or person contact no longer exists

International boundaries

Don Raines and Terry Stephenson are scam artists, thieves, frauds and overall have no integrity. They put my money into escrow with a guarantee to fund my loan in under 30 days. They had a few reviews and the person who referred me was someone who had never worked with, but was scamamed as well by these sharks. My money was put into an escrow account and I was told it would not be moved and private investor would fund my project at a 2.9% interest rate for a loan period of 10 years. I was ecstatic.

Now more than 2 months past my initial close date I have not been funded, have heard every excuse in the book as to hy suddenly they can't fund the loan (that's 'if' I can get hold of them that is and now they rarely respond to emails or phone calls).

They flew across the country using my due diligence fees to fund their flight. They told me "would we show you our face if we wanted to commit fraud?" I agreed and now it seems they have done just that. I have no loan more than 2 months after my close date and it was just recently pushed back another 2 weeks. 2 weeks ago I was told that "the funds were in" and I needed to fill out my closing docs, which I would have done, but they never sent me all the documents. Now they have forgotten about the docs and just keep saying Feb 8th.

It is probably too late for me as my money is already spent and not a large enough amount to interest the government. I hope my story helps you decide to stay away from Don Raines, Terry Stephenson and First Contact for Wealth which lists itself as a company in Sandy, Utah. Beware. They are a scam, rip off, fraud, thieves, are in breech of contract and have made no effort to close my loan or return my money. I will say it again.... STAY AWAY from Don Raines, Terry Stephenson and First Contact for Wealth!...,

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Comments

  • conservative87
  • conservative87 SBID #57800fa847
  • Posted 02/12/2014
  • Amazing how the numbers have changed from the other so called reports. You guys must be hungry for Money.

    We have a great history with Don, and Terry. And have funded through them.

    This is No client complaint, and the same person who posted on scam.com and the mortgage grapevine. However the numbers, and loan details are all different.

    I see Don replied on that, he wasn't afraid to show his name unlike you.

    You guys are pissed because you're waiting on a small point fee.

    Grow up... you tried to report this to the BBB, under false info as well, and they shot you down.
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  • Raines1
  • Raines1 SBID #f0e0d47c16
  • Posted 02/13/2014
  • If your gonna make a complaint, say who you are when your making it!
    Interesting that this was not listed by the group in question. I have talked with both her and her lawyer.
    They did not post this. It apparently came from her broker The CrewCo Group, headed by Mr. Jeff Cole 614-917-3031 or email at [email protected]
    He has a habit of speaking for his clients. The BBB has shot him down on this already. He charges his clients more than the lenders do and usually gets in the way of his own progress.
    We have never had a Post Office Box, always a full business address in Sandy Utah.
    A copy of this has been turned over our corporate attorney. As for the Jigsy web site, yes anyone can use one there, but the information is still relevant, like any other business web site.
    Please be advised.......There is NO CLIENT COMPLAINING!
    This did not come from any clients of First Contact. They have all been contacted.
    A Broker cannot speak for a client, especially who wants nothing to do with the Broker!
    Notice, they do not want to identify themselves. I will throw it right out there!
    Several inaccuracies as well, if they were a real client. Amounts of money, incorrect, time line, incorrect as well as them not getting it back, incorrect!
    For the record, it was never a 10 year loan, it was JV arrangement!
    Don Raines
    First Contact for Wealth, Inc.
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  • Raines1
  • Raines1 SBID #f0e0d47c16
  • Posted 02/21/2014
  • Leo P. Ross
    Attorney At Law
    915 South High Street
    Columbus, Ohio 43206
    (614) 316-9144
    Fax (614) 258-5529

    February 10, 2012

    Mr. Jeffrey Cole
    Cole Dickson Group
    CrewCo Financial Group
    1358 Studer Ave
    Columbus, Ohio 43206

    Re: Letter To Cease And Desist

    Dear Mr. Cole;

    Please be advised that I have been retained by First Contact For Wealth, Inc. to advise you to cease and desist from making any further defamatory postings, letters, contact with their clients or other efforts to impugn the reputation of First Contact For Wealth, Mr. Don Raines or Terry Stephenson.
    I am further demanding that you take all steps to withdraw and retract all defamatory postings and letters you have caused to be generated against my clients. If you have any conflicts with my clients, I advise you to take the appropriate legal action to resolve your problems.
    I must also advise you, that I am in receipt of a posting to the website “brokerspeak” on February 3, 2012, which appears to have been posted by you purporting to be my client Mecca Mining, which makes defamatory statements about First Contact, Don Raines and Terry Stephenson, which has interrupted the return of the final payment of their deposit and subjects you to further liability to Mecca Mining for additional damages.
    At this point, my clients are primarily interested in putting this matter to rest. However, if you persist in this line of conduct, I have been authorized to take immediate legal action against you and you company.






    It is my hope that your compliance with this letter will put and end to this matter.

    Sincerely Yours,


    ________/S/ Leo P. Ross_______
    Leo P. Ross Attorney At Law
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  • Jeffrey_Cole_TCDG
  • Jeffrey_Cole_TCDG SBID #4650e62ff9
  • Posted 09/07/2014
  • This is Jeff Cole, I have been receiving countless calls about First Contact. I am going on record as saying I never made a post here ever until today or on any other forum. The FBI took my complaint but would not take action unless there were three or more complaints, I am not in the business to solicit complaints from our clients we sent to Mr Raines. I made a complaint to BBB which did not pan out because I was not the actual client. Ok that's fine no big deal what goes around comes around. I don't speak for my clients I represent them in the deal, nor do we "get in the way of the deals we structure" we simply advise if the structure is conducive to the clients needs and convey terms and conditions based what was given by the principal of FCFW Don Raines to our clients. We never charge any client upfront money to structure, plan, organize the use of funds, and assist the client on the presentation of the submission. That is what our job is as a consulting firm. We ALWAYS get paid on the back end of the closing of the deal. We have NEVER RECEIVED ANY COMPENSATION from Don Raines on any deal we submitted.
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  • Jeffrey_Cole_TCDG
  • Jeffrey_Cole_TCDG SBID #4650e62ff9
  • Posted 09/07/2014
  • We did however receive a cease and desist letter on postings I did not make, two days prior to his post here and have honored it completely even though it was not a court ordered C&D. We have nothing to do with Don Raines anymore period. Again all the clients we sent previously to FCFW, neither of my firms have received compensation from any submission we sent to Mr. Raines, honestly I am really just tired of the inquiries from principals I don't know asking hundreds of questions, now I just advise them to simply ask Mr. Raines for the information needed for you to make an informed decision I can not comment on their ability to fund as we are not affiliated with his "lending group" and can not advise if they are closing on anything outside of what we sent to them or not almost a year ago. And again, we have never received any monetary compensation from anything either of my firms submitted to FCFW.
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Company Statistics

  • Complaint Against First Contact for Wealth
  • Complaints Filed: 2
  • Reported Damages: $20,000.00
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