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Private Money Exchange(PME) ripped me off for over $25,000!!

The PME group also uses the following names: Secured Investment Corp; Private Money Bank; I am the Solution.

I was contacted by a David from Private Money Exchange and was invited to the "PME Inner Circle" which I was told included the following:

- leader of all the PME affiliates in my state of Maryland

- I'd get income from all of the affiliates in Maryland doing deals and using PME loans

- Wholesale properties from PME's purchases of bulk property packages from banks and investment firms (my main reason for agreeing to join the "PME Inner Circle" for $25K")

- 100% financing for all of my Real Estate projects

- I would be on a personal level with owner Lee Arnold and his inner network

Of course I was assured that I would recoup my investment on the first property PE sent my way. I was literally told I would not have to worry about finding deals or funding in my Real Estate business any more, they were going to be falling in my lap.

So they took my personal resume and I filled out several applications. I was told that Lee personally reviewed my information and was honored to accept me as the youngest "PME Inner Circle Member". And they charged me $25,000 over two credit cards.

And I waited and waited then called and was told.. "O, it takes a little while to get things setup you'll hear from us soon". Then I was put on calls with a "coach" who had no clue what was going on either. It took weeks for me to get through to him what I had really signed up for...... In the mean time I was contacted by countless groups trying to sell me things all having some affiliation with PME.

....insert A very long and painful series of events over months including losing a property after funding falling through by PME after having a commitment letter! .....

Finally, I actually get in contact with Lee Arnold, who after boasting how he was a millionaire in his twenties, tells me it was a processing mistake and he would correct things and he would have to send his guy out to see my business before I could get 100% funding for my projects...

So I get some audio books in the mail and he sends one of his coaches out to me and I find out none of what I was originally sold on even exists... We go through stuff I was already coached on and already was paying coaches to teach me.

....insert A very long and painful series of events including almost losing a second deal from PME financing delaying closing twice!...

I get a hold of Lee again... I demand my money back. He says that the two days with his coach is worth $25K.... WHAT I didn't even know what was going on! I said no way and again demanded my money back. He said well I only charged you half of the 25K and another company (EMS) charged you the other half and I would have to work through them. So he gives me their contact info. He then asked me to send him the name of the guy that sold me originally on the "PME Inner Circle", hinted that they had problems with him in the past and made it sound like he was going to look into it and I had hope of getting my money back.

Since, I've sent Lee the info he requested and tried to get a hold of EMS. I've heard nothing from Lee and I found out that "I Am the Solution" (Lee's coaching business I had no clue about) charged me the full $25K. EMS gust acted clueless and don't answer calls. Huge Run Around!!!

I'm just tired... I've been lied to, manipulated, scammed.... this just isn't right and cant be legal. I just want my money back and if you count interest on that money, what I could have done with it in my business and the lost deals from PME funding falling through your talking $100K in true damages!! So, I'm taking a different approach and am going to share my experience.

Lee and anyone involved with Private Money Exchange; Secured Investment Corp; Private Money Bank or I am the Solution. You stole $25,000 from me; Please give it back!! I will not stop sharing my experience until I'm refunded.

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Guest

It *** me off so much that 99% of money making businesses are a scam Just wish there could be one real company that is 100% legit that teaches you how to make money

Baylei Nyp

Is the anyine in here that has reported this to the FBI, IRS and the SEC? If so, how long ago? It would seem that they'd have quite a few allegations and could bring multiple charges against this Lee person and his minions.

Guest

I take no chance in dealing with these corrupted website that promise you great gain. In this life and time i truely fill for this Pissed Consumer, which does not deserve this Trash and nothing can be done about it.

I was in the same manner but didnt quite spend that kind of money. BUT yet pisssed off of the scam.

How i deal with these SCAMS is check to see if its fake or real. Until you start checking out these websites, read carefully before applying...PLEASE BE CAREFUL!

Guest

Wondering why I would need to get on a bus tour to get a loan.. this explains all that..

thank you. also explains why Lee never responded to my loan inquiry re a project Im hoping to do.

Guest

PEOPLE, SCAMMERS ARE WRONG AND THEY ARE ALL OVER THE PLACE. ITS A NUMBERS GAME TO THEM. LEE ARNOLD MIGHT GET 1,000 PEOPLE WATCHING HIS.CLEVER MARKETING VIDEOS AND LIES, HOWEVER HE IS ONLY SEEKING THAT 1 GULLABLE, IDIOT WHO ENDS UP PAYING HIM $25K FOR HIS ADVICE TEACH YOURSELF, NEVER EVER PAY FOR CONSULTING OR ADVICE.

Guest

To the person who paid $25,000 to Lee Arnold...i am sorry. i feel very bad for you that you were scammed.

MORE MUST BE DONE TO STOP THESE GREEDY SCAMMERS. They need higher punishments that send a word out to warn others not to scam or else. Lee Arnold amd others create this beautiful convincing marketing scheme with awesome videos, funnells, free e books, etc. then get you hooked and charge you $25K.

they need to go to *** Look, Im in lending....if you want or need financing long term or short term follow these rules no matter what. 1) find a local bank and work face to face with someone.

2) only work online with a broker who was referred to you by a trusted friend or.family member who has already used them and had success. Other than this, you risk being scammed.

Guest

From what I've read, it sounds exactly like the pitch I received.

Guest

This review will at least save others your pain Sounds too good to be true

Guest

I got a fraudulent signal about these people after attending the 4 day seminar. he gave a $1 million letter of approval but it was only good for 2 7 days.

another thing they are always desperately selling something on line true their webinars.

these people seem to be broke like a church mouse just barely getting by but claim that they r millionaires and Christians. if it sounds too good to be true it probably is.

Guest

testing. I did a posting but it was not published.

I thank the person who was scammed out of $25,000 for sharing his story. it mentions a lot to me for not being scammed.

Guest

Thank you for your reviews, I have to say he sent me an Email saying I was pre-approved for a 250,000. Investment plus a free 475.00 ticket.

My husband agreed to go to portland ore for a 3 day conference. We still would have to leave my 34 year old son who was in a bad wreck 15 years ago and depends on us for everything, rent motel and eat for 3days. This helps me stay home and say nope.

I cant risk it. Thank you.

Guest

Hi, I read with interest what you have written as I am looking at CoGo Capital for funding. Do you know any more about these people as it seems to me they now operate under CoGo and have the same address as Secured Investment Corp. Would love to help expose scammers and there are plenty out there, cheers Thomas

Shanyn Siz
reply icon Replying to comment of Guest-1174782

They change names every couple years, but the scams are the same. It's really sad how they get away with this..

Guest

I have lost over $1500.00 due to this scammer and

his buy-in partnership to bring in prospects for loans

in which no one ever qualifies.....so I am not able

to recover my original investment. Just hype with

a great deal of ***, is what Lee and his fine

team are made up of.

The FBI needs to storm his Corp.

location and shut him down. I feel sorry for others of whom had a belief in his opportunities but only to be hoodwinked by this Narcestic *** whom should be in prison.

Guest

They are now running webinars without mentioning their name on the webinar. Sponsored by Zack Childress, the webinar tries to sell a program they call Unlimited Funding.They will give you all the money you need for loans on the properties!

Briefly a picture is shown of someone by the name of Rick Martin, who Lee said made $40,000. The "finders fee" program, my name for it, sells for $398.

Guest

It's funny how *** some retards are if you were dumb enough to give this broke retard your money he deserves it plain and simple

You will be broke the rest of your live because your dumb cell if interested

201289****

Guest

Hi, Would like to know more about this. I am or was thinking about investing with Lee Arnold but do not want to lose what I have!

How can you be contacted?

Lee is supposed to be very much a devout Christian, Is this possible, I am hesitating now. Kathryn, email kavp101@***.com, kindly contact if your complaint is legitimate

Guest
reply icon Replying to comment of Guest-981979

The complaints are legitimate and numerous. Once you purchase anything your information will be sent to a telemarketing company that says they represent Lee.

They will find out how much you have in savings and what balance is on your credit cards. They will then design a package to take all available money. There is no guarantee for 100% financing unless you have more cash or a lot of equity in another property that they can attach. There is nothing Lee can teach that a real estate agent will not teach you for free.

The Christian part is something he will be held accountable for from God.

Actions and words are different with Lee. There are several states suing and investigating him for not being licensed to lend and fraud.

Guest
reply icon Replying to comment of Guest-983924

This is the original poster. Thank you all for your comments and support!

Anyone with information or contacts on any investigations/law suits please send me the information! Send info to psmith201@***.com

I would love to get some justice.. I'm still coming back from that hit years ago.

It makes me sick that his is still scamming the hard working people of this county and using the word of God to gain credibility with people. Again, send info to psmith201@***.com

Thank You!

Guest

I was also taken by this company for over $25,000. I was initially called by a telephone salesman that told me that I have been personally selected by Lee Arnold to be a member of his Inner Circle and establish my market.

I was told I would receive three days of personal training in my area and that I would also receive 100% financing for all of my real estate deals. The reality was I was sold a telephone coaching package for $12,500 and some worthless business bundle for $12,500.

You can never get off their telephone solicitation list, the junk emails never stop and the entire time Lee Arnold presents himself as some sort of Christian leader but his actions say otherwise. It is hard to believe the Feds have not shut this guy down or locked him up.

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