This blog is for would be investors in Omega Capital Funding Inc. I have had clients and other brokers that has work with this company and they are not a legit funding source. They are "Fee Hustlers" and don't fund many projects. You have to pay for their fees (which are very high!!) for them to even give you a list of projects they have funded. They have taken countless clients money without much success in funding viable projects. They would rather get paid on the front end rather than actually close a loan.
If you google their senior underwriters "Christopher Von Cummings" which is the Son and brother of the actual owners of the company, you will see he was involved in Fraud, the milking of over 7 Million dollars from potential investor and is being prosocuted for it. It was a company he ran back in Ohio and now he is back in the financial industry in another state (Florida) doing it again.
Any of you that has been taken by this crook should contact the US States Attorney in Ohio (see FBI press release below for contact info).
Office of United States Attorney: Southern District of Ohio: Gregory G. Lockhart United States Attorney Contact: Fred Alverson (614) 469-2057 Ext. 1604303
Marconi Boulevard, Suite 200 - Columbus, Ohio 43215
For Immediate Release:WEDNESDAY, FEBRUARY 22, 2006 FORMER COLUMBUS MAN INDICTED ON MAIL, WIRE FRAUD 21 victims lost more than $7.5 millionCOLUMBUS B A federal grand jury here has indicted Von Cummings, age 36, formerly of Columbus, charging him with 15 counts of mail fraud and six counts of wire fraud. Cummings, who did business in Columbus as Paramount Financial Partners, L.P., and Paramount Capital Management, LLC, is accused of defrauding investors between 1998 and 2002. Cummings was arrested at an airport in Miami, Florida on Saturday, February 18, as he was returning from London, England.
Cummings now lives in Florida. Gregory G. Lockhart, United States Attorney for the Southern District of Ohio, and Stanley J. Borgia, Special Agent in Charge, Federal Bureau of Investigation, Cincinnati Field Division, announced the indictment which was returned on February 16. The indictment alleges that Cummings conducted business at 5940 Wilcox Place, Suite B, Dublin, Ohio and 8101 North High Street, Suite 160 in Columbus.
The indictment alleges that Cummings committed mail and wire fraud to defraud at least 21 victim investors for a total amount of $7,564,794. Cummings received funds totaling approximately $10,240,777 from at least 21 investors. Cummings allegedly told investors that Paramount Financial Partners, L.P. was a hedge fund he managed. Cummings told victims that their money would be used to buy stocks, mutual funds and discounted stocks termed Apre-IPOs@ (Initial Public Offerings).
The indictment also alleges that Cummings never purchased the securities, but used the money to pay previous investors as well as to pay personal and business expenses. Cummings either mailed or faxed fraudulent AInformation Updates@ or similar statements to the victim investors falsely claiming that their money had been used to buy specific stocks or mutual funds, or had been invested in a hedge fund. Senior United States District Judge John D. Holschuh will preside over the case and set a date for Cummings= arraignment. The U.S. Marshals Service will return Cummings to Columbus. Each count of mail fraud and wire fraud carries a maximum statutory penalty of 20 years imprisonment and a fine of up to $250,000. Lockhart commended the investigation by agents of the FBI, and Assistant U.S. Attorney Kevin Kelley, who is prosecuting the case.
If you plan on investing in a company that has crook as its senior underwrites you better really think about because what does that say about the company if they have a known crook underwriting your deals. Do to its policy of charging high engagement fees, not providing loans for viable projects and all the negative posting I have found about this company and about Christopher Von Cummings stealing money from hard working people, I think it would be a great opportunity to short the stock as soon as it is available because I don't see how they can maintain suitable growth (if any!!) for stock investors to get good returns (if any!!) on their investments unless they short it.
But don't believe me go do the research yourself before invest or use them as a potential lender and see how a company with all the negative postings listed from their past clients and a crook as the senior underwriter can actually make money in this declining financial market. HE IS A CROOK AND PLEASE DON'T PAY THEIR FEES OR INVEST IN THERE COMPANY BECAUSE YOU WILL GET NOTHING BUT BULLSHIT FROM HIM!!!
Labels: DEAL WITH OMEGA CAPITAL FUNDING AT YOUR OWN RISK
by OMEGA CAPITAL INC.
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