Astra Wealth Mangement Inc. & John Ramsey
Mortgage Fraud
Oralndo, Florida, 32801
I was trying to refinancing my two hotels. I came in contact with Sam Patel over the phone, who's real name is Sandeep Nagin Patel. He introduce himself as licensed Mortgage Broker, but he is not licensed.He had a private lender called Astra Wealth Mangement Inc. located at 37 N Orange Ave Suite 1100B ,Orlando FL.The president of that company is John Burton Ramsey. Before I applied for the loan I asked for references, Sam gave me couple people Ph#, I called them, They gave great reference about Sam Patel and this company.
After that I apply for my loan, My loan was approved and they gave me commitment letters.
Astra required 20% of the loan amount to put in escrow account with Title Company and that 20% I gets back after closing.
They selected Fidelity National Title Insurance company located in California. An Escrow account was opened and as required I wired $ 400,000.00 in escrow account. After that the funds was suppose to move from the escrow account so John Ramsey gave a Letter of Gurantee Issued by Wells Fargo Bank. This letter of Gurantee was suppose to hold by Title Company. After verifying the authenticity of letter by Title company. The fund control aggreement was signed by John Ramsey and me and the money was moved to their equity partners. I waited several weeks to get my loan funded then suddenly John Ramsey and Sam stop responding my calls and emails so I started doubting them I went to Wells Fargo Bank with the copy of the Letter of Gurantee to cash it. Wells Fargo Bank told me that the Letter is fake. I told about this to John Ramsey and Sam Patel they denied it that the letter is not fake. I demand John Ramsey to give my funds back. He told me that he will try every effort to get my money back. Its been two months now I did not get my money back.
This scam was set by Sam Patel and John Ramsey where Sam acted as Mortgage Broker and John Ramsey acted as president of Private Lending Company. I urge every citizen who is looking for finance beware of Sam( Sandeep)Nagin Patel and John Burton Ramsey