Consumer reviews and reports on scam companies, bad products and services
Jay Bloom
Jay Bloom Eagle Group Holdings, Las Vegas Mob Experience, Recycled Percussion dishonest, selfish, misleading, not trustworthy Las Vegas, Nevada
19th of Apr, 2011 by User420275
I have been doing "business" with Jay Bloom for over 5 years. I say business because Jay asked to borrow $25,000.00 for a business opportunity. I gave Jay the $25,000.00 within 24 hours of him asking for the loan. Jay said he would purchase homes and would allow me to do the refinancing which would give me the original $25,000.00 plus some additional funds for myself and the jesture of lending him the money.
I had to verify that Jay had the $100,000 in his bank account to do the loans, well when I contacted the bank the money was not there. I have been chasing Jay for over 5 years trying to get my money. Jay is a managing partner in the 3 business's listed above. Jay recently went out and bought a multi million dollar home in Southern Highlands. Jay also has had many business's that have failed. I do wish Jay the best of luck in his "Las Vegas Mob Experience" I just don't want anyone else to fall victim to his lies.
I trusted Jay with $25,000.00 of my money, he violated that trust after he invited me into his home introduced me to his family and told me he would help me out for helping him when he needed the money. Jay now is in charge of a multi million dollar enetrprise with the headliner being the "Las Vegas Mob Experience" that is showing at The Tropicana.
In the end, Jay Bloom did pay back the $25,000.00 it was not in the timely fashion or the terms that he and I discussed but he did make good on the initial loan. I want to stress that because I would not put anything on the web that is not the truth. INVESTOR'S BEWARE!!!
3155 days ago by Picturethat
Sad to see reports like this.

So I read this report with some confusion, as there are a number of inaccuracies, intentional omissions and spin, as is common with people like this.

The writer of this report, Nick Lagatutta, indicates that he has done business with me for over 5 years.

First misrepresentation.

In fact, I was involved in only one single transaction with Nick Lagatutta over 5 years ago, hardly a 5 year history of doing business.

The transaction described is a bit revisionist history by Nick. He states that he provided a $25, 000 loan. In fact, he was the proprietor of a small (one employee) mortgage brokerage start up.

Seeing dollar signs, he asked to do business with me in financing investment properties that I was purchasing, and offered to front $25, 000 for the rights to finance my investments.

To that end, I would challenge him to provide loan documents evidencing a loan referenced. It simply did not happen the way he describes.

Lagatutta failed to deliver on his promises regarding providing financing, misrepresenting his ability to finance properties.

His business failed ending in a criminal indictment and conviction, I believe his only employee, Rob, wound up taking the fall for him.

First intentional omission.

There was no $100, 000 fund verification requirement at any time during the transaction, and if there were, it would not have been an issue to prove funds. In fact, I closed a number of purchases with other lenders without incident for the same properties that he failed to procure financing.

Second misrepresentation.

Notwithstanding his misrepresentations as to his abilities, and without any legal obligation, solely out of moral obligation, years ago I repaid Lagatutta any fee he offered and paid to "buy" my business .

The only truth acknowledged in his vindictive and defamatory report is that he was repaid every dollar he fronted irrespective of what those funds represented.

Since he admittedly was repaid the $25, 000 fee to which he refers, why did he file this report?

Because he wanted another $25, 000, over and above what he was paid, for what he considered a fair return on his $25, 000 fee paid that was returned to him when he failed to deliver as he had promised.

After his employee was criminally convicted of fraud for executing on Nick's schemes, Nick Lagatutta proceeded to declare personal bankruptcy, hiding the $25, 000 that he was repaid in a bankruptcy fraud scheme he perpetrated on his creditors.

Nick had numerous investment properties, for which he financed over 100%, and after which, he forfeited the properties to the banks, defaulting on his numerous "cash out" mortgage notes.

His only concern, hiding his motorcycle from his creditors.

I would not be surprised to see a criminal conviction for bankruptcy fraud and/or mortgage fraud come down the line for Mr. Lagatuttta.

Its a sad story, someone who feels they have nothing to lose, only to possibly then lose their liberty for desperate acts without consideration as to their criminal nature.

I wish him well, and hopefully, for him, he can keep law enforcement in the dark a little while longer.

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