Sign in

Convergence Management Associates

Sharing is caring! Have something to share about Convergence Management Associates? Use RevDex to write a review
Reviews Convergence Management Associates

Convergence Management Associates Reviews (1)

Review: [redacted] and Caribbean Convergex with offices in Maryland and the Bahamas was paid $20,000 for assisting in obtaining a loan. I was told personally by [redacted] that he is a part of a group which manages investor funds and after seeing my business plan he has two lenders ready and willing to fund the project. Nothing came to fruition as he was working with [redacted] in a scam to collect funds with no intention of finding a lender.Desired Settlement: I would like a refund of the $20,000 paid for a loan which was stalled for the last two years. There were many times I would email or call **. [redacted] with calls returning 3-4 weeks later, chiding me on my impatience. He said in person at an exclusive club, "where do you want to close on your loan, The Bahamas or DC?" It was all a fraud from beginning to end.

Business

Response:

February 14, 2014

Dear **. [redacted]:

This law firm represents Convergex Caribbean, Ltd. (hereinafter "Convergex") and **. [redacted] in his personal capacity (hereinafter "**. [redacted]") with regard to the above-referenced matter. Your letter dated February 5, 2014 was provided to me for investigation and reply. After reviewing the facts with my clients, it appears that [redacted], Inc/s (filed by **. [redacted]) narrative "Statement of the Problem" is at best factually inaccurate, if not speculative, presumptuous and defamatory.

In this regard, let me outline the actual facts of this matter, contrary to the assertions made in [redacted], Inc/s complaint:

1. On or about October 21, 2011 Convergex Caribbean, Ltd. and [redacted], Inc. entered into a written Financial Services Agreement

(hereinafter "FSA"). [redacted], Inc. was seeking private funding in the amount of $1.2 million dollars to among other things, expand the business's tutoring organization and daycare [redacted] ("Project"). Notably, the FSA is clear and unambiguous as to what each respective parties' contractual duties and obligations are to each other. Prior to that time, on or about October 4, 2011, the parties executed a Mutual Non-Circumvention Non-Disclosure Agreement (hereinafter "NDA") at the time when Ms. [redacted], as representative of her business, [redacted], Inc., solicited the [redacted] of Convergex. Copies of both the FSA and the NDA are attached hereto as Exhibit A.

2. At no time did Convergex or **. [redacted] "promise" [redacted],

Inc. in any way that her business would obtain financing for the Project. Pursuant to the "[redacted]" section of the FSA, Convergex' contractual duties are very clear:

"CCL shall disseminate Project documentation (i.e. information provided to CCL by Client) to prospective sources (hereinafter "Sources") and CCL shall, refer, introduce, identify or otherwise make known to Client the name, address, telephone number and, as applicable, the Internet access (URL or Email address) of one or more persons or entities as a willing source of funding."

The FSA is void as to any references of "guarantees" of funding that [redacted], Inc. suggests, indeed, all of Convergex' website information and other information about its [redacted] (www.immediatecapital.com) specifically states that there are "no guarantees" (except death and taxes) about its [redacted]. Moreover, it is evident that **. [redacted], on behalf of her company, understood this fact at the beginning of seeking funding for the Project—as I have reviewed email correspondence dated October 15, 2012 (see attached as Exhibit B) between Convergex and [redacted], Inc., that specifically acknowledges her distinct understanding that funding of the Project was not a "guarantee"—which she acknowledged by her initials on said email response.

3. At no time did **. [redacted] or Convergex ever characterize its [redacted] as being "part of a group which manages investor funds". This statement is clearly belied by the plain language of the FSA and Exhibit B.

4. At no time did **. [redacted] or Convergex ever characterize its [redacted] as being "underwriting". This statement is clearly belied by the plain language of the FSA and Exhibit B.

5. Indeed, on two occasions, via letters dated April 26, 2013 and June 21, 2013, from my office to [redacted], Inc., on behalf of Convergex, [redacted], Inc. was provided the opportunity, as an accommodation, to have the project reviewed by another of Convergex' Sources. [redacted], Inc. did not reply to either letter and further did not comply with the requests for documentation therein. (See letters attached hereto as Exhibit C).

In summary, **. [redacted], on behalf of her company, has claimed that my clients have somehow breached the parties' agreements, and somehow have misrepresented facts regarding the parties' contractual relationship—which, notably is a business to business contractual relationship. Notably however, [redacted], Inc. has wholly failed to produce any documents and specifically omitted any pertinent facts that support its claims against my clients. This obviously speaks volumes about the veracity of the complaints. Indeed, by virtue of the conduct of **. [redacted] and her company, it is [redacted], Inc. that has breached the parties' agreements. See letters attached as Exhibit C, wherein [redacted], Inc. was put on notice of its actionable conduct.

Clearly, [redacted], Inc. and Convergex' relationship is as defined by the written and executed FSA document. As noted above, the document is unambiguous as to the duties and obligations of the respective parties. There have been no breaches or misrepresentations made by Convergex or **. [redacted] as to its/his [redacted]—which again, are clearly defined in the FSA. As such, it appears that [redacted], Inc.'s complaints arise out of the fact that it wanted/wants to back out of a binding contract that it now (after the fact) perceives as a "bad deal" or "getting scammed". Indeed, **. [redacted]s' sole purpose is very likely to misuse the Revdex.com as a means to damage the reputation of Convergex and **. [redacted].

In short, we find the generalized assertions and false claims contained in [redacted], Inc/s Statement of the Problem complaint to the Revdex.com to be wholly unsupported by the facts as we understand them. Should you have any questions regarding the foregoing, or if I may be of further assistance, please do not hesitate to contact me.

Check fields!

Write a review of Convergence Management Associates LLC

Satisfaction rating
 
 
 
 
 
Upload here Increase visibility and credibility of your review by
adding a photo
Submit your review

Convergence Management Associates Rating

Overall satisfaction rating

Description: Financial Services

Address: 645 Solomons Island Rd Ste 500, Prince Frederick, Maryland, United States, 20678

Phone:

Show more...

Web:

This website was reported to be associated with Convergence Management Associates LLC.



Add contact information for Convergence Management Associates

Add new contacts
A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z | New | Updated