WARNING: JES Properties

[Thomas Fish]

I had to report this company to the Attorney General and the DA's Office for the following reasons:

1. Setting up an attorney--pretending it was the buyer's attorney--for the purpose of hiding funds in the transaction.

2. Telling the end-buyer that he owned the properties being sold. It wasn't until after the close that the buyer found out that JES never owned one property in the transaction. (28 properties closed).

3. At first trying to rip me off for $8000 in the deal, finally ripping me off for $2000.

4. General deceitful business practices.

[Bill Gulley]

Hi, this is a good example, I think, of miscommunication among buyers, sellers and intermediaries. I can see a wheeler-dealer type saying "I own" rather than saying "I have an ownership interest" or more correct "an equity interest in".

That there are misconceptions about the role of an attorney acting as an escrow for a starw man which is perfectly lawful and where disclosure may not be required to be made, but where full disclosure should be made. This is often, IMO, due to the lack of the partieshaving sufficient understanding of the process or where the investor fails to have a better marketing approach, where he feels that he has to say something that is off center simply because he can't explain himself in a positive light.

Then when I hear people claiming that they were ripped off, I think much of that comes from the fact that none of us ever want to admit that we might have failed to act in our own best interest, that we dropped the ball, being unaware of failing to due our own due diligence.

I don't know either of the parties from the original post nor is there sufficient information to make any judgement, simply claims being made from one side. I'm not taking sides here, just an observation.....Bill