Consumer reviews and reports on scam companies, bad products and services
North American Companies
North American Companies LLC North American Acquisitions; Cobalt One LLC; Michael Llamas; Steven Llamas; Michelle Sides, Esq; Peter Woodard; Premier
22nd of Jan, 2011 by User278234
End of 2008 I wired 30,000 USD to Cobalt One LLC, which is one of the
many companies under the umbrella of North American Acquisitions LLC or
North American Companies LLC. I was going to earn interest on those
funds, I was also promised that those funds would be secured by paid off
real estate.


I got a run around on completing that process of securing
my funds by these paid of homes. I was supposed to get my funds back
plus interest every quarter (3months) and it would be up to me to
collect the interest only and leave the principal amount invested with
them so that I can keep earning interest. They failed to secure my funds
by paid off real estate and they failed to pay me any interest or my
original funds.


I have gotten a run around for almost 2 years, because
legal help is expensive and given the circumstances I could not pursue
it legally and all i could do is hope for their promsses. Michael
Llamas, Peter Woodard, Steve Llamas, Michelle !
Sides
Esquire, are all part of North American Companies. I communicated with
Michael Llamas, Steve Llamas(Michael s Father) Michele Sides (their
legal counsel and partner) they all tried to "assist" me with collecting
my funds with interest, which never happened. Promise after promise
after promise.


2 years later I filed a few complaints, Michael Llamas
responded and said "they are nothing but fraud, that I told you Armen
that we will take care of this for you" and requested that Michelle
Sides would "draft up" the paperwork I can sign so that they can pay off
their loan. I got a copy of that letter, which simply explained that by
me signing it would relief them of ANY LIABILITY from the part, present
and future. I said "I will not sign that until the funds have been
deposited in an escrow account, and contingent that the funds are
cleared I will sign what ever they please" That of course never
happened.


Some time later again i got contacted by Llamas which I
believe was a result of
me complaining so much and said that he will make a deposit into my
account. He did not specify the amount. Then he said that every week
they will pay me off with installments only if I am patient. The deposit
did come in, for 1,000 dollars. And I haven't heard back from him
since. Just to clarify I have proof of wiring the funds, I have a
"note" that I am holding which I was provided as a legal contract by
North American Companies, every time i check the web they have articles
that they are growing and expanding.


Adding new departments, do this and that, however I
feel that I am a victim and I believe this should be looked into on the
state level. If it is left unattended by the authorities then this
tells me that I can go out there, lie to people, promise them what ever I
want, accept their money and give them a bunch of stories. I have also
referred another person that invested funds with them and I have gotten
threatened because they are holding me liable for this recommendation.

It was in the
amount of 20,000 USD. I have told Michael Llamas that I am willing to
accept my 30,000 in USD that was wired to them and will not look for the
interest earned on those funds. I just want my original funds back.


Comments
4719 days ago by Kincade10
Has there been any progress since writing this back in January?

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