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On May 22, 2002 I entered into a contract with Trustee Group, LLC to purchase a commercial building .  I put down a deposit of $28,000.  Richard told me that he owned the building through Trustee Group, LLC.

Richard Munn, the man who took the escrow funds said he could get me the financing easily because my credit was perfect.

Keep in mind that the first line of the contract says that the funds will be kept in escrow.

In early June, Richard Munn approached me and asked if I would be interested in purchasing the sports bar that is one of his tenants for that building.  He also stated that it would help with the financing because I would have all that extra income.  So I signed a contract for Richard Munn to negotiate the purchase of the sports bar.

The purchase of the sports bar went into contract on June 26, 2002.  Richard Munn took my deposit of $1000 for that.

Richard Munn acted as real estate agent (with no license), business broker and mortgage broker.

In October, Richard Munn told me that I got approved for the financing and to go for the liquor license.  3 weeks later, I was approved.  I called Richard and he said, the financing is coming, not to worry about it.

4 weeks later and many calls to Richard, Liquor commission called me and said that I have to either hand in the necessary documentation (lease or title to property) and pick up the liquor license, withdraw or lose my money. 

I called Richard Munn and asked for a lease while waiting on the financing so I could at least get the sports bar.  At that time, the two owners of the sports bar were willing to work things out financially and I could have easily purchased the sports bar without outside financing.

Richard out right said, NO and that the financing should be approved within a couple of days.  I had to withdraw the liquor license.

The only financing that Richard Munn said he received for me is a loan for $550,000 @ 12% interest, interest only payments and it has to be paid in full in one year.  I also would have had to use all the real estate I already own as collateral for that particular loan.  There was no written documentation about this loan.  I had no idea from who or where this loan was coming from.  Nor did he send any documentation to my lawyer.  Richard also said that I "had" to use his property title search for the closing.  It was not insurable and I would never close on any property without title insurance. 

The contract was up on November 15th 2002.

My lawyer and Richard's lawyer were in contact during this time.

When Richard refused to give me my deposit back, Richard's lawyer called my lawyer and said he is NOT Richard's lawyer for the case and he never was and said to do what we must against Richard.

I went to the police and filed a formal complaint.  The police said it was criminal.

Tracing the check, we found that it was deposited in a particular bank and was signed over to someone else.

The police said they wanted to do a complete investigation on the case and that it would take a long time before going after Richard.

About 6 weeks later, a new lawyer representing Richard called and said he took the case.  Richard then went to Florida for 2 weeks and when he came back, he sent a fax to the police and my lawyer that he had $29,500 in an escrow account but no interest. 

The next morning, the police called and said that it is no longer criminal but civil because he proved he had the funds in an account.  Although the bank the funds were in was in a totally different bank than the check was originally deposited in.

Richard still has not given me my deposit back and is now talking about negotiating.  I feel there is nothing to negotiate.

I have put in a formal complaint with The Consumer Protection Agency.  It is the law that real estate deposits must be held in escrow from the 3rd day of receiving it.  They have the authority to make Richard prove that it was.

Also after doing some research....

Richard Munn nor Trustee Group, LLC owns the building.  A company named American Investors Group, LLC owns it.

Richard is a member of Trustee Group, LLC but he is in no way associated with American Investors Group, LLC.

Richard's wife is the agent of both companies.  I have no documentation with Richard's wife signature that gives Richard permission to sell or quit claim the property from one company to the other.  Even with permission, Richard can not legally quit claim the properties himself.  Only American Investors Group, LLC can and Richard is the only one who signed the contract of purchase.

I have recorded the Purchase Contract on the property title so it can not be sold until my funds are returned or a judge orders that I remove it. 

I have heard nothing since and I do not understand how this is no longer criminal.

Can a member from one company sell another companies property?  My lawyer said that because it is his wife who is the agent for both companies, it could be considered legal.  In my own opinion, he is not selling his wife's property but American Investors Group's property.  I feel there is a difference.

Now my credit is no longer perfect and I am close to bankruptcy.

 Lisa from Connecticut
January 15, 2003

Update on Lisa
January 28, 2003

Lisa has given me permission to write the ending to her story. I wanted to do this so that everyone will learn from her experience. The ending is a good ending, but only because Lisa would NOT give up. She used her common sense and her investigative abilities to make this a happy ending. Even her family told her to give up. She didn’t! During this period of time, Lisa shared with me the goings on almost on a daily basis. We did some brainstorming but Lisa gets the credit….two thumbs up for her!!

Lisa could not sue the seller in small claims court because the amount owed to her exceeded $5,000. (is the maximum amount her state allowed). She had to retain an attorney even though she was already almost broke. The seller’s attorney informed her attorney that the seller, Richard wanted to “negotiate” an amount to return to her. “Negotiate”?? ALL this money was hers rightfully! She found out through her own investigation that the company name on her purchase contract that he used was not his company nor was he an agent of the company. Lisa contacted the police who forced Richard to produce the funds or he would be criminally responsible. He did indeed produce the funds, so that the police stated there was nothing criminal.  Lisa repeatedly told her attorney that Richard did not have an association with the company on the purchase contract, but his wife did. The attorney’s response “Richard could work on behalf of his wife.” This did not sit right with Lisa (for that matter me either).

Lisa also signed a lease for the purchase of a bar that was a tenant of the building. She obtained and paid for a liquor license. Two weeks after she signed the paperwork he started an eviction on the occupants for non-renewal of the lease. He boasted to the owners of the bar that he was going to confiscate all their equipment also.  This would leave Lisa without any equipment! Richard and the owners of the bar had a court date for the eviction hearing. This is the email she sent me: