Complaints

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

• Initial Complaint

  Date:08/22/2024

  Type:Product Issues
  Status:

  UnansweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Cogo Capital is an affiliate of ******************* system of real estate investing. I was signed up for the broker certification through ******************* Corp by a representitive of Cogo Capital. Significant additional set up & fees were not disclosed to me prior to signing up, I was misinformed that I just had to complete the online training. I feel this deception was orchestrated to get my payment of $997. I was told by this representative that if I completed the training & still didn't make any money within 60 days, that I would be refunded my initial investment for the course. When I requested a refund after learning of the additional funds that would be required to be successful, the ******************* Corp sent a response letter that stated absolutely no refunds after the initial 3 days for this course. After all the deception, I don't feel that this is a reputable business that I want any association with. What would their training involve? How to deceive prospective patrons? Not interested, I just want my money refunded.

• Initial Complaint

  Date:10/12/2023

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  This took place over the period of a couple of years. 2018/2019. I was sold several packages with the ultimate goal of being "Broker of Record" After many many trainings in a multitude of destinations which I had to pay for travel and lodging, as well as tuition. COGO Capital was to open an office in ********* and to do so the state required that they have a licensed mortgage broker in that state. I had all of my requirements completed and COGO needed to file paperwork with the ****************** to be able to do business in the state. Business would go through me, but **** never followed through to complete their end of the deal. I spoke with the *** of COGO about getting this completed and we walked over and spoke with their paralegal but he was working on opening ******* and getting a fund up and going. But they NEVER opened ********* and so I'm out all of that money, time and travel. **** has been banned in the ******************* from doing business and educational training because of past practices.

  Business Response

  Date: 12/13/2023

  Here is a record of your relationship with ****************************** and its divisions the ************************************************************* and Cogo Capital

  June 8, ****************** the Independent Private Broker Home Study Course, a prerequisite online course  or the Independent Private Broker Certification Program.
  

  June 20, 2017: You invested in the Independent Private Broker Certification Program (an educational course,) for $2497.00. Tyour package came with a complimentary Private Money Scout (a loan marketing affiliate program) and Full Membership in the ******************* ****************** (a multifaceted ******************** website)
  

  July 13, 2018: You attended the tuition sponsored course, the Funding Tour. At tyour event on July 15, 2016.  You invested in package of educational courses including the Independent Private Broker Master course (a Master level in-person course,) The Options, Assignments and Wholesaling ************* Course W/ REIW Contract Builder (digital course,) Marketing & Lead Generation ************* Course (digital course,) and ****************** ************* Course (digital course.) totaling $20,000 after discounts.
  

  July 19, 2018: You attended the Independent Private Broker Certification Program (a three-day educational course,) via online livestream.
  

  July 23, 2018: You passed the Independent Private Broker Certification exam and became a Certified Independent Private Broker.
  

  August 13, 2023 You attended the Independent Private Broker Master course. Your evaluation of the course consists of 22 of 23 scores of 10s (with only the hotel accommodations scoring an 8)
  

  August 24, 2018: You again attended the tuition sponsored course, the Funding Tour.  At your event on 8-26-2018, You upgraded you educational package to include the Rehab Certification Program & Lien Abatement Certification course (educational courses,)  Rehab Master course (a Master level in-person course,) Two additional digital educational courses ( Technology and the *********** ************ and ****************** Home Study Course.)you also added the remaining programs to the Broker of **************** program, in addition to previously invested in Master Broker, Included a One-on-One Broker Mentorship in Market, a One-on -Ones Broker Mentorship at *********************,for an additional commitment of $50,000.
  

  September 13, 2018: You attended the Rehab Certification Program (a three-day educational course.) Your evaluation of the course consists of all 18 scores of 10s, the highest possible satisfaction score.
  

  September 18, 2018: You pass the Rehab Certification exam and became a Certified Rehab Specialist
  

  September 24, 2018: You sign and initial each page of the BROKER OF RECORD CONSULTING AGREEMENT which includes the following stipulations:
  

  7. No Guarantee. Client understands that there is no guarantee that Client will earn any income through Clients participation in the Consulting Program. Client understands that the Consulting Program should not be construed as a Get Rich ******* or a guarantee of any earnings whatsoever. Furthermore, Client understands that Clients actual results will be affected by many factors, the most important of which is Client. Client acknowledges and agrees that ******* has made no representations, oral, written or otherwise, that Client will achieve any earnings, profits, or income whatsoever as a result of Clients enrollment and participation in the Consulting Program.
  
  13. No Representations or *********** ******* does not make any representations or warranties of any kind or nature regarding specific or general benefits, monetary or otherwise,regarding the effectiveness of the Consulting Program.
  
  16.14.Relationship of the Parties. The relationship of the parties is strictly one of consultant-client. Tyour Agreement is neither intended to, nor will it be construed as, an agreement to create a joint venture, partnership, or other form of business association between the parties.
  
  October 1, 2018: You attended the Master Rehab Program (a four-day educational course,) via online livestream. Your evaluation of the course consists of all 20 scores of 10s, the highest possible satisfaction score.

  October **** Fulfillment of One-on-One Broker Mentorship at ********************* was completed. Your evaluation of the course consists of all 4 scores of 10s, the highest possible satisfaction score.
  

  January 29, 2019: You confirmed with Mentor ******************* that the One-on-One Broker Mentorship in Market would be March 4-6,2019.
  

  March 14, 2019: Fulfillment of One-on-One Broker Mentorship in Market was completed.
  

  August 7, 2019:  You purchased SendFuse (text-based real estate marketing application) for $997.
  

  November 14, 2019: Despite numerous attempts to confirm You refused to schedule attendance at the Lien Abatement Certification course.
  

  February 15, 2022 was the last ************************************ communication with You.
  
  Your complaint is directly contradicted by the written record including the high level of satisfaction about the educational program as evidenced by your program evaluations. In addition, your expectations of specific business associations with Cogo Capital are shown as inaccurate and divergent from the terms of the BROKER OF RECORD CONSULTING AGREEMENT to which you agreed and signed.

  Business Response

  Date: 12/13/2023

  I just want to add that your assertion that ***********************. and its affiliates are not able to due business in **************** is patently false. ***********************., Cogo Capital, ************************************, *******************, and ************************************** work extensively in the ******************* with the majority of business in some sectors in state. We even have worked extensively with the government of the *************** **********, by rehabbing and returning to the tax rolls many previously abandoned and dilapidated properties. 

  Customer Answer

  Date: 12/14/2023

   
  Complaint: 20730044
  
  I am rejecting this response because: If, it is ***'s work to have people sell a load of c*** and not fulfill the implied meaning of the agreement.  You were well compensated for a business agreement were by you were required by ********* law to have a mortgage broker with an office in the ****************** and you would complete the paperwork required by the ****************** to do business within the state.  I received a piece of paper stating that I had achieved "Broker of Record" as I had completed all of your requirements to broker mortgages generated by COGO Capital advertising and vetting by your organization. But you, ******************* and your organization COGO Capital never bothered to complete the little bit of paperwork with the ******************. 

  I don't know if it was your intention to never follow through on your end of the agreement but if that is how you like to make money by selling mediocre education, after all I was already a real estate broker and mortgage broker and those courses require more than your training. (if I did not rate your training with a high rating the chance of me ever becoming "Broker of Record" would have been totally non-existent) 

  The fact that **************** has banned you from selling your product within their state should have been warning enough to have avoided you and your company. 

  Continue to do business like this and ***** will be the next state to ban you from doing business. 

  Merry Christmas to you and all of your elves.  May *** keep watch over you and all of your business ventures. 

  ****************************************************************************************************

  ***********************************************

  *******************
  DEPARTMENT OF FINANCIAL INSTITUTIONS
  SECURITIES DIVISION
  IN THE MATTER OF DETERMINING
  whether there has been a violation of the
  Business Opportunity Fraud Act of **********
  by:
  ***********************.; and *******************;
  Respondents.
  )
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  Order No.: S-13-****-14-CO01
  CONSENT ORDER
  INTRODUCTION
  
  On August 20, 2014, the Securities Administrator of the ******************* issued Statement of Charges and
  Notice of Intent to Enter Order to Cease and Desist (Statement of Charges) S-13-****-14-SC01 against Respondents
  ***********************. and ******************************
  *********************** of the ********** of ********* Institutions and Respondents **************************. and ******************* enter into this Consent Order to settle the matters set forth in the Statement of Charges.
  *********************** has, in the Statement of Charges, made certain allegations and conclusions, set forth
  under the headings Tentative Findings of Fact, and Conclusions of Law. Respondents ***********************.
  and ******************* neither admit nor deny the Findings of Fact and Conclusions of Law, which are incorporated by
  reference into this Consent Order.
  CONSENT ORDER
  Based upon the foregoing and finding it in the public interest:
  IT IS AGREED AND ORDERED that Respondents ***********************. and *******************, as well as
  their agents and employees, shall each cease and desist from offering or selling business opportunities in violation of
  RCW 19.110.050, the registration section of the Business Opportunity Fraud Act of the *******************.
  IT IS FURTHER AGREED AND ORDERED that Respondents ***********************. and *******************,
  as well as their agents and employees, shall each cease and desist from violating RCW 19.110.070, the disclosure
  document section of the Business Opportunity Fraud Act of the *******************.
  IT IS FURTHER AGREED AND ORDERED that that Respondents ***********************. and **********************, as well as their agents and employees, shall each cease and desist from violating RCW 19.110.120, the antifraud section of the Business Opportunity Fraud Act of the *******************.
  
  CONSENT ORDER 2 DEPARTMENT OF FINANCIAL INSTITUTIONS
  *******************
  PO Box 9033
  ******* ** 98507-9033
  ************
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  IT IS FURTHER AGREED that prior to the entry of this Consent Order, Respondents **************************. and ******************* shall be jointly and severally liable for and shall pay the ******************* part of the costs
  and expenses incurred in the investigation of this matter in the amount of $1,500.
  IT IS FURTHER AGREED that the ******************* does not intend that the Bad Actor disqualification
  provided for at 17 CFR 230.506(d)(1) should arise as a result of the entry of this Consent Order to resolve violations
  of Washingtons Business Opportunity Fraud Act as alleged in the Statement of Charges.
  IT IS FURTHER AGREED that the ******************* has jurisdiction to enter this Order.
  IT IS FURTHER AGREED that Respondents ***********************. and ******************* enter into this
  Consent Order freely and voluntarily and with full understanding of its terms and significance.
  IT IS FURTHER AGREED that in consideration of the foregoing, Respondents ***********************.
  and ******************* waive their rights to a hearing in this matter and judicial review of this order.
  WILLFUL VIOLATION OF THIS ORDER IS A CRIMINAL OFFENSE.
  SIGNED the __10th__ day of _____________December_____________ 2014.
  Signed by:
  ***********************.
  ____________________/s/________________________
  **************************, Chief ********* Officer
  Signed by:
  ____________________/s/________________________
  *******************, Individually
  Approved as to form by:
  
  CONSENT ORDER 3 DEPARTMENT OF FINANCIAL INSTITUTIONS
  *******************
  PO Box 9033
  ******* ** 98507-9033
  ************
  
  Sincerely,
  
  *******************

• Initial Complaint

  Date:07/06/2023

  Type:Order Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Requested lending from COGO Capital for a Fix and ************ with tight deadlines, there were promises and false statements made to make me feel secure enough to submit $1500 worth of fees, then, after fees were collected, the company became clearer about the funding, that its not how I had was first reassured it would be. COGO Capital flat out lied to me about the loan analysis and is now unable to process a full refund. My project has reached its deadline, costing me more in lost option fees due to their poor explanation and false reassurances of the loan analysis. My specific trial with COGO Capital involved exorbitant applicant fees ($499) and appraisal fees ($999) which are non refundable even after being lied to.

  Business Response

  Date: 12/15/2023

  We are sorry your experience with Cogo Capital was not up our high standards. We have high standards of service and our loans and fees are highly competitive in the private capital space. We are reviewing  your account, and it indicates there was a single charge of $499.00 for  a Cogo Loan Application Fee.  As you were informed at the time of your application and in the invoice sent to you, application fees are not refundable (because of the costs in processing your application.) Subsequently, you filed a card chargeback with your card company, so we were not able retain your payment. As result of the chargeback, it is impossible to provide your requested  complaint outcome, since we have no funds collected from your order.  

• Initial Complaint

  Date:04/20/2023

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I paid $197 For an application fee.The application was never done.I want my money refunded back To me.

  Business Response

  Date: 12/15/2023

  We are sorry your experience with Cogo Capital was not up to our high standards. We have high standards of service and our loans and fees are highly competitive in the private capital space. We are reviewing  your account, and it indicates there was a single charge of $197.00 for a Cogo Loan Application Fee on April 5, 2023.  As you were informed at the time of your application and in the invoice sent to you, application fees are not refundable (because of the costs in processing your application) and we honor application fees for 6 months after payment. We continue to be happy and ready to honor your application for a real estate loan and will extend your application eligibility period an additional six months to April 5, ****. Please call us,  Cogo Capital, at ************.

• Initial Complaint

  Date:02/08/2023

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  The Company has false advertising on programs and loan funding. They recruit individuals to join there inner circle offering great deals and funding options for a large fee. Once in and you go through "training" you should be set to use the benefits. Then when you try to use the benefits there are suddenly extensive reasons and special set rules that don't match up with any of the training, make it pretty much impossible to make progress or to get your initial investment back as advertised when trying to recruit you to join there inner circle. Very disappointing they claim to be different and truthful but that doesn't seem to come across.

  Business Response

  Date: 12/13/2023

  Cogo Capital prides itself on being one of the most transparent lenders in the industry.  We provide clients with accurate written and verbal explanations on all aspects of our loans and programs.  We make sure clients are fully informed and we sign, with our clients, agreements which we follow to the letter.

  Cogo Capitol is a private money lender who, because educated borrowers are a lower risk in loan, provide elite borrowing benefits to graduates of ******************* System Master level programs. You invested in the LAS Elite Program, Lees Inner Circle which gives the following borrowing benefit:

  Cogo Capital Borrowing Benefit: Graduates of Lees Inner Circle 4.0 training qualify for 100% financing (including purchase price, rehab costs, and closing costs) for purchasing non-owner-occupied properties. This benefit applies to up to four (4) properties* at a time which are purchased for less than or equal to 70% of the After Repaired Value of the property. All other criteria for borrowing from Cogo Capital applies (including but not limited to: UW Guidelines and County LTV restrictions). From your signed Fulfillment Training Agreement.

  Hundreds of graduates of *** Inner Circle utilize this funding benefit successfully by closing loans.  Like any lender, we have underwriting qualifications for loans, not the least of which is that properties must be purchased for less than or equal to 70% of the After Repaired Value of the property. We are more than willing to work with borrowers with deal vetting and deal structuring support to ensure deals meet the standards.
  As a graduate of Lees Inner Circle, you were given a special number when you need help on a specific deal.  In addition, you have direct access to to our Elite Member Hotline (phone number listed in your Fulfillment Training Agreement)from which you can receive immediate help from our Client Success Team.

  Please contact us at Cogo Capitol *************) or our Client Success Team (lite Member Hotline,) we are anxious to help you successfully complete profitable real estate deals. 

• Initial Complaint

  Date:11/03/2022

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  The experience I have had with ************, was or the product/service...as long as money was giving thing seen to be good. Appointment was missed, try calling get voice mail...no call back unless money were exchange...this is when i thought something is wrong...I've sent numerous emails, try calling. that when I start requesting for my refund, the amount is $5000.00

  Business Response

  Date: 11/18/2022

  We are processing a return of $1997 for **********.pro program because your were not informed of the non-refundability of our technology products. We are sorry for the miscommunication. 

  Since your other investments were completely fulfilled and outside the return period, they are ineligible for a return. You will continue to have access to the educational products in which you invested on the *** Arnold System Academy. Please feel free to give our Client Success Team a call at ************ to help you access your programs.