Cifuentes Fund Management

Revdex.com: At this time, I have not been contacted by Cifuentes Fund Management, LLC regarding complaint ID [redacted] Sincerely, [redacted] ***

Revdex.com: At this time, I have not been contacted by Cifuentes Fund Management, LLC regarding complaint ID [redacted] Sincerely, [redacted]

Revdex.com:At this time, I have not been contacted by Cifuentes Fund Management, LLC regarding complaint ID [redacted].Sincerely,[redacted]

Revdex.com:
At this time, I have not been contacted by Cifuentes Fund Management, LLC regarding complaint ID [redacted].
Sincerely,
[redacted]

Revdex.com:
At this time, I have not been contacted by Cifuentes Fund Management, LLC regarding complaint ID [redacted].
Sincerely,
[redacted]

Review: I was lured by [redacted] and his spouse, [redacted], into what seemed a legal operation, yet these people are nothing but a potential Ponzi Scheme. [redacted] has emailed several forgeries of "supposed" wire transfers that were sent to my account to pay the owed divident payments. Furthermore, I was given checks when their wire scheme could not be done anymore, which resulted in having insufficient funds. [redacted] took action independently and they are now under investigation. Furthermore, they say that the reason they cannot pay me or other investors is because they have a lot of trouble with their bank wires. They have yet to prove their active trading licenses exist and no one knows where the money is going. They ignore all my rightful requests I have made to get my money back.Desired Settlement: I would like my initial investment amount of $80,000.00 back plus dividends owed which amount to $22,000.00, as well as other legal fees incurred to resolve this matter.

Consumer

Response:

At this time, I have not been contacted by Cifuentes Fund Management, LLC regarding complaint ID [redacted].

Sincerely,

Review: Issue: Failure to collect/receive dividends from my investment with Cifuentes Fund Management.Cifuentes Fund Management, LLC. in New York, NY, has failed to comply with the Contract Agreement signed. This contract has been breached by [redacted] and [redacted] for failure of non-payment. The principal amount owed to me, [redacted], is for the amount of US$120,000.00 and a total amount of US$167,400 which includes all past due unpaid dividends. Cifuentes Fund has kept stalling the payment process with excuses blaming reputable financial institutions for their inability to process simple wire transfers from Cifuentes Fund's account. The same excuse has been used with more than one bank account I have opened for this purpose. I kept receiving what looked like wire receipts, sometimes completed wire forms from [redacted] but my bank never received them. I verified all the information was always correct. Also the Federal Tracking Number provided seems to be non-existent according to my bank's customer service team. Other methods have been suggested, including my own presence at the location, but I keep getting no feedback from them. I have complied with all their suggestions in the beginning to facilitate easy transactions between the parties (Including their strange requirement to open a foreign bank account where they could make the deposits). I have not yet received a complete dividend payment from even the first month of payment when these dividends were due. I sent them a communication to close my account with them on Oct [redacted] 2014 but have not received the original principal or any of the past due dividends as of today.Desired Settlement: I wish for Cifuentes Fund to refund the original investment and all additional past due dividends to be wired to the [redacted] account provided to them that they have on my file.

Consumer

Response:

At this time, I have not been contacted by Cifuentes Fund Management, LLC regarding complaint ID [redacted].

Sincerely,

Review: I first met [redacted] and [redacted] in January in West New York NJ during the board of education election in which [redacted] was running for a board position. I was working that day as a challenger and he handed me his business card. We got together shortly after to talk about investing with his company. He mentioned he had to investment options through his hedgefund and a managed account. He spoke to me about a couple of different investment options. Anything over $500,000.00 would be a managed account that they would charge a performance fee for. Their other option was a 10% dividend payment guaranteed monthly. They said this investment option was very similar to a CD (certificate of deposit) because they have different maturity options 3,6,9 month options. They never did a risk assessment or asked whether I was an accredited investor.

I made a principal investment of twenty-thousand dollars ($20,000.00) with [redacted] and [redacted] d/b/a Cifuentes Fund Management LLC, per notarized subscription agreement completed on February [redacted], 2014. On May [redacted], 2014 I made an additional investment of Ten thousand dollars ($10,000). I have already redeemed Ten Thousand dollars ($10,000) of my initial investment and I have also requested redemption of the balance of my investments along with accrued past due dividends.

My first redemption request of twenty thousand ($20,000) was made on July [redacted] and did not receive my funds within the 30 days as described per the subscription agreement. [redacted] and [redacted] d/b/a Cifuentes Fund Management LLC, only paid me ten thousand dollars ($10,000) out of the twenty thousand dollars ($20,000) I had asked for redemption. The payment was made in two payments: one thousand dollars ($1,000.00) cash deposit on September *, 2014 and a nine thousand dollar ($9,000.00) cash deposit on September *, 2014. Alcibiades and [redacted] kept stalling the payment process with excuses blaming reputable financial institutions for their inability to process simple wire transfers from Cifuentes Fund's account. Some of the reputable financial institutions they blamed are: [redacted], etc.

On December [redacted] 2014, I had requested full redemptions of all funds and payments of all pending dividends. On January [redacted], 2015 I received an email from [redacted] assuring me that they will have a partial payment by “the end of the month”. I had sent [redacted] a text on February *, 2015 to confirm payment time. She replied at 3:300 pm and said she was running late. After that text both [redacted] and [redacted] have failed to reply to any of my text messages, phone calls or emails. I have done some research on google and noticed that they have an active [redacted] account and have been actively posting on their [redacted] account, Cifuentes Fund Management, but still they do not reply to any of my calls, text messages, or emails.

I recently emailed them a request for a 1099 so that I can file my taxes and they fail to reply. This leads me to believe they might be committing tax fraud/tax evasion.

From the beginning of my investment with [redacted] and [redacted] d/b/a Cifuentes Fund Management LLC, none of their dividend payments were made on dividend payment date. Investing money with them was a bad experience from the start. They were misleading, misrepresenting their services, and deceitful. Some of the words they used to describe their investment strategy and dividend payments were: CD (certificates of deposit) with 3 month and 9 month maturities. They frequently used the words guaranteed through a separate fund in which they hold other funds in case of emergencies.

They also were trying to lure me into referring them clients. On one occasion they invited me out to dinner and showed up with a brand new car, an Audi R8. This car has an MSRP of $230,000. They said they were doing so well that they purchased this limited edition car.

We signed the contract in West New York, NJ and they failed to comply with the contract signed. [redacted] and [redacted] have breached this contract for failure of payment of principal and accrued dividends. The principal amount owed to me is for the amount of US $20,000.00 and past due unpaid dividends. Furthermore, they say that the reason they cannot pay me or other investors is because they have a lot of trouble with their bank wires. They have yet to prove their active trading licenses exist and no one knows where the money is going. They ignore all my rightful requests I have made to get my money back.

To this day, they are completely avoiding all phone calls, emails, and text messages. These actions lead me to believe that they might be breaking the following laws: Forgery, Fraud, Tax Fraud, money laundering, scamming, etc. They claim to have managed accounts which they charge performance fees to their US clients. I believe in order to charge clients performance fees or established managed accounts there are certain licenses or registrations required to do so.

Lastly they provide a [redacted] as there operating address, but truthfully they work out of and domicile at this address: [redacted].Desired Settlement: I would like my investment back and payment of accrued dividends.

Consumer

Response:

At this time, I have not been contacted by Cifuentes Fund Management, LLC regarding complaint ID [redacted].Sincerely,[redacted]

Very good business. Professional and honest.

The couple will lure you with the 10% interest per month of your investment.and $500 refferal fee but receive nothing..only excuses.