ComplaintsforPML Bridge Fund, LLC

• Initial Complaint

  03/31/2024

  Complaint Type:

  Billing Issues

  Status:

  Unanswered

  More info

  In August 2022, I entered an options agreement with Antonio S******** of PML Bridge fund, Cincinnati Ohio. The option agreement was modified the day of execution to exclude a fee of almost 4% of the proceeds., all documented via email from Antonio S********. For the first 3 months of the agreement, I was wrongfully charged for “stated” renter’s insurance. They refused to provide proof of policy, and only after I threatened reporting to the Attorney General, did they refund the premiums for the non existent policy. In November of 2023, an offer to sell the property was approved at full asking price, plus my free habitation until April 2024. The title search failed due to PML improperly registering the property with Cumberland county **. As a result, the buyer canceled the contract, and the error was not corrected until the proposed date of sale, December 18. A new sale contract was approved for almost 10k less, to be executed approx. 70 days from the initial offer, canceled for failure to properly register. The month of sale, (February, 2024), PML forced me to pay an illegal (almost 3x the state limit) of a late fee, with threats to stop the sale of the property. I informed them of the ** late fee limit, and they replied IN BOLD TEXT, that I must pay the inflated fee. At this time they also denied the revised option agreement with the reduced fee. Upon further investigation, they were overcharging me on real estate tax for almost 18 months, and were in arrears with Cumberland county in paying such tax. Only when uncovered by myself did they pay this tax, showing a lack of fiduciary duty. The property was sold on February 29, and PML Bridge fund was in receipt to the proceeds. As of today, March 31, after repeated requests to provide the note closing statement along with my proceeds, they have REFUSED to provide the statement and my proceeds. Also refusal to refund tax overpayments. In last month I have experienced enormous stress.

  Customer response

  04/22/2024

  I was issued a real estate option note by PML Bridge fund. I was charged and paid real estate taxes monthly on the property for approx 18 months. Approximately 12 months i to paying the note, I discovered I was paying approximately 30% more than the actual tax amount. Immediately contacted PML, and was told by Anthony S******** that it would be investigated. The overpayments continued, and I emailed Anthony again. This time I was assured it would be “looked into”. The overpayments still continued, and once again I emailed S********. This time it was acknowledged as true, and I was assured I would be credited. The property has since sold, and no credit was ever issued. In fact, the last payment made, the same month as the property sold, once again the overpayment was charged. On the closing statement of the note, there was no mention of the overpayment, nor was this money credited or refunded! I was never given a final response after many attempts to get this resolved All proof of this event has been retained, including emails from S******** to myself!

  Business response

  04/22/2024

  We would like to thank the Better Business Bureau for the wonderful services for which it provides to include an alternative dispute resolution platform for business and customers. Given the complexity of the matter and the fact that our customer retained legal representation prior to his BBB compliant, under the direction of our law firm and legal teams instructions we unfortunately will not be able to discuss the circumstance and details surrounding his compliant.  However, as a matter of recocord we have summitted al the requested documents to our law firm and our customers attorney. We remain optimistic that once our customers lawyer reviews that documents and facts the matter should be resolved. 

  Respectfully, 

  PML INVESTMENT COMMITTEE

   

  Customer response

  04/23/2024

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and have determined that this does not resolve my complaint.  For your reference, reasons for rejection are included below.
  
  Regards,
  
  ***** *****

   

  I have email confirmations from PML of the.overcharges, as well as several communications that it would be investigated and corrected.

  This is over the course.if several months, and is well documented.  There is a history.of this.company not adhering to ethical and financial principals in regards to my business relationship with them. It will shorrly be 5 months since this event and indescresion was discovered my myself.

  The overcharges were performed monthly for approximately 18 months with PML not admitting or correcting.  One would think and an end of year audit, a sign of sound business practice would have discovered this.

  Customer response

  05/24/2024

  I have not gotten a serious or accurate response from the business.

   

  i was sent an incorrect closing statement

  there was no comment on all of the issues I posted, nor any mention in the closing statements to my documented challenges.

  illegal late fee

  failure of sale on Dec 19 at full ask due to their negligence in properly recording property with the county

  so, due to their lack of action, or good faith efforts, 

   

  I a, unsatisfied with this business, and am considering contacting the state attorney general to resolve these matters

• Initial Complaint

  09/17/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Unanswered

  More info

  Date of Transaction: 03/30/2023 Paid PML Creating Wealth, LLC dba PML Bridge Fund a deposit to engage in services for providing a Bridge Loan to *********** * ****** *** ************** (******* ********** * ********* ********). The transaction was never processed or completed by PML Bridge Fund. For 5 months, we have requested refund of monies owed. Emails and phone calls are not returned. No response and no resolution to date. We simply want our money back because PML did not finalize the terms of their agreement with ius.

• Initial Complaint

  01/07/2023

  Complaint Type:

  Billing Issues

  Status:

  Resolved

  More info

  PML has been collecting a monthly fee for renters insurance on a property. I have requested several times proof of payment by them. They have ignored several requests for proof. I have now paid 5 months of this “phantom” policy. I just made January payment minus previous insurance payments, (because they cannot prove they actually have insurance and am making payments). They have just emailed me a default notice, (even though it is the 7th, and late payment due on the 10th, (how can this be in default? I sent them a copy of their own agreement). ALL I WANT IS PROOF THAT YOU HAVE BEEN MAKING INSURANCE PAYMENTS, AS I HAVE BEEN PAYING YOU MONTHLY!!!!!! PROVE YOU HAVE NON MIS APPROPRIATED OVER $100 PER MONTH, EARMARKED FOR RENTERS INSURANCE ON THIS RESIDENCE.

  Business response

  01/17/2023

  We are pleased to inform your agency that an acceptable resolution was completed by all parties. We have adjusted our clients monthly payment obligation accordingly so that he may purchase the desired insurance of his choice, in addition to the coverage required for landlord insurance. 

  Respectfully, 

  Investment Committee

   

  Customer response

  01/23/2023

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me. 
  
  Regards,
  
  ***** *****
  

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