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Mortgage Grapevine

MFS and Lionel Ellis Scam

To any of you looking to place loans I would highly recommend you steer far away from a man named Lionel Ellis who represents himself as a pension fund lender and even a fund manager. The company he promotes under is Millenium Financial Services or MFS. Their address is a mailbox at a UPS store. Their office line is his cell phone.

He will state how large they are, how much money they have to lend and that the pension fund lends up to 95% as a JV partner, etc etc. He will string you and your clients along for months and even state a closing date and then he disappears.

And yes the client will pay a due diligence fee, which they never seem to get back even if they request it, as he states they can. I have two clients who have been taken and now are getting no response even after their lawyers are involved. I have two other clients who are in process and he will now not even return their direct calls or emails.

There are many brokers out there who share information and advice. Please share with them the names above and lets keep people such as him from operating and taking advantage of any other brokers and more importantly clients. He has wasted months of my time and energy and now continues to do so in a legal way. Pass this on and lets put him out of business.

The UPS store mailbox address is in Princeton, New Jersey but he claims to live and operate out of Philadelphia. The investigator is trying to determine this exact information. If any of you have information on this person please respond as there will be people getting in line I am sure. If you have any advice on how to handle we would love to hear it. So far the BBB, state Attorney General and even FBI have been contacted by at least two of the clients.

by themoneyman July 10, 2008 12:00 AM


sorry to hear about this, but maybe you should change your screen name to

thelosemyclientsmoneyman.

I mean he has taken 2 of your clients $$ and you have 2 more on the hook, DUDE what were you thinkin´
by LOANMAN July 10, 2008 12:00 AM


Very good question and comment. He is obviously very good at what he does. All clients were input very near one another well before any broken promises or issues arose. They issued documents that looked to be on the up and up and spent almost daily phone calls with the clients. This was done over a long period of time.

Each and every client had multiple calls with him before any money was ever sent by them. They were sold just like I. Obviously no new clients have been submitted to them as we were all waiting for something to finally come through as they promised.

The excuses ran the gambit but bottom line is a very experienced scheister obviously did their homework and spun a great web of lies and deceit. The biggest question we all had was why would someone put so much time and energy into this to make such little amounts. I am talking multiple calls per day with all of them. He worked for it and now has disappeared. I suppose when you do it to enough people it pays off. Amazing he had this much time!

The reason for this post is to keep others from falling prey. The research was done on him and the company before we dove in and there was none. There were no negative comments, hence the reason for this post. The clients will be posting as well to backup the claim so he cannot wiggle out of it and say it is just a broker who did not get paid.

by themoneyman July 10, 2008 12:00 AM


Let me give you all a piece of advice...THIS GUY IS A ONLINE SCAM ARTIST IN EVERY ASPECT OF HIS LIFE! HE WAS MARRIED AND WAS ON EVERY ONLINE DATING SERVICE AND WAS SCAMMING WOMEN USING THE ALIAS "MICHAEL SUN". FROM WHAT I UNDERSTAND HE USES THIS ALIAS TO SCAM INVESTORS AS WELL. Be careful when you see this name because Lionel Ellis is not the only name he uses.

I know that you all might not care about his personal life, but it just goes to show how low this guy will go. I really hope that you guys find him and nail him. He deserves to go to jail.

This guy is not a legitimate business man. He had an office in Princeton and for some reason they shut him down. You might want to search in and around Philadelphia. He hangs out in Philadelphia quite often.
by Friendlyadvice July 21, 2008 12:00 AM


This A-hole is either retarded or brilliant. We figured the same as themoneyman, he was brought to us by a broker who we are still in a good relationship with, he hadn't used him before but he had just submitted a different project from a different client and got a commitment letter in 2 weeks. We were very excited we must of had 15 different conference calls with him sent him 3-5 different versions of the business plan, received a commitment letter and were advised that the closing would be in a month. He collected a relatively small due diligence fee, which was really supposed to cover the underwriting costs, he gave us an exact closing date and proceeded to tell us to go ahead and start writing checks!

After all was said and done he disappeared with about $5,000. It didn't make any sense he was always very responsive, picking up the phone whenever we called and suddenly he stopped, we tried him at the office no answer his cell no answer. I spoke to the UPS Store guy and he told me that he only comes by every few weeks. I even started spoofing my number and masked it as numbers from Phili, NJ, and NY, to no avail the guy literally fell of the face of the earth.he worked us for over 2 months, made off with 5K. WHen he could have made off with much more. It still doesn't make sense, BUT I CAN TELL YOU HE IS A SHYSTER, AND ANY AND ALL EXPLETIVES YOU CAN IMAGINE. STAY AWAY!!!!
by Lionelellis-is-a-scumbag April 23, 2009 5:09 PM


Wow, pretty strong verbage. I am currently dealing with him and wished I would have found out this information from the beginning. There have been a ton of excuses and no results as of yet. Hoping for the best.
by Barsack August 7, 2009 12:48 PM


This is ridiculous, maybe if you so-called.... I mean "so-called" entreprenuer's.... would stop contacting "Finance Brokers", "Angel Investors" and "Private Equity Firms", you would probably get some place!

Did it occur to you, that if they were successful at what they do, they would not be charging upfront fees! All of you got burned because you may be some of the dumbest people on Earth, stop looking for a Venture Capital firm to invest in your venture! THEY DO NOT DO START-UPS!! A Start-up to a Venture Capital Firm is a company that has been operating for 1-3 years!

Get clue, Get a PPM or Private Placement done and contact companies like:

www.PrivateEquityCap.com (Good)
www.PPMExpress.com (Okay)
www.BreadStreet.com (Hit and Miss)

And work on getting private investors of your own. Stop thinking there is a firm out there that can "fund" you because you have a "Great ROI".

If you got burned, Good, odds are you would have pissed the money away anyway!

by TheEnlightenedFew September 30, 2009 4:11 PM


We are trying to get this scum behind bars. Does any of you have a current address or have seen him recently? We are trying to serve him with papers in person. Any info you have would be so helpful! We really need to stop him before he hurts any more people! Also if you have any of his aliases please post them.
by baiamare1 October 8, 2010 12:06 PM


This scumbag scamed me also. Although it was only for sevral hundred dollars. I have some inforamtion. He has New Jersey plates. The plates read twosly. have your investagators run the plates. His current cell phone number is 609-731-4984. I hope you guys find him and f@#$ him. He is a real A-Hole
by mgarruto1 November 4, 2010 6:35 PM


While this is normally the place where cowards come to vent, this scumbag Mike Garruto is the single worst. First of all the next time this fat clown gets several hundred dollars will be the first time he ever had it. this drug addict has been known to bounce checks all over town. He is a liar and cheat. He almost lost his leg a year ago and was nursed by his wife like an infant for months cuz he couldn't even walk. He paid her back by joining a customer of his for a asiian table shower and sex session with prostitutes. Class act for sure. Now he has the gall to come on this blog and lie about Lionel. I for one won't stand for it. Crawl back in your hole, we know who the real Ahole is.
by FrankLends December 13, 2010 11:36 AM


to mgarruto, thanks for the license plate. We are in the process of serving him. We have several addresses. Do you have a recent address? It would help cross referencing with what we have. Thanks! By the way, does the plate number match to the Jaguar he was driving or did you see him drive a different car?
by baiamare1 January 4, 2011 5:19 PM


franklends....I have no reason to lie. I just want to verify that I have also been hurt by Lionel Ellis. I had loaned him money for various desperate situations, at GREAT sacrifice to myself. I think Lionel is a brilliant business man and could be so much more. However, a man is defined by his actions and to date he has not paid me back one dollar. I think he needs to focus on his character,integrity. One can never prosper over others misery.
by another hurt February 8, 2011 3:14 PM


Lionel, it is still not too late to make it right with those you have hurt.
by another hurt February 8, 2011 3:19 PM


to mgarruto....I probably have the most recent contact information and investigative work on Lionel, is there is a way we contact each other on this site?
by another hurt February 8, 2011 3:25 PM


Has anyone ever been paid back by Lionel Ellis?
On January 28, 2011, I received a text from him stating that he would have a check in his hands the following day, to date he claims that the check is still in the mail...unreal.It would be great to post that this man actually did the right thing for once, and paid someone back.
by another hurt February 16, 2011 10:39 AM


Well the check never arrived, he has been promising to pay me back. When and if Lionel ever decides to pay me back, I will post it hear right away. As each day passes without a check from him, will show what type of man he is.
by another hurt February 28, 2011 12:12 PM


for all interested in putting the scam bag away. We are still trying to get a current address to serve him with the papers. Also we are trying to do the same for his wife since he is in hiding. Once we serve them he goes to court and hopefully straight to jail!!!! I will check with my lawyer to see if I can post his phone number for you guys to contact him. Maybe if we can all look for him we can bring him to justice
by baiasprie1 March 11, 2011 4:27 PM


....hmmm,he has a wife? He claims to be divorced. I was planning on marrying this man a couple of months ago. He moved from New Jersey, and got a condo for us in Washington DC. I do have a current phone number that stars with 609. He has promised to pay me back for the money I gave to help with the down payment, along with all the other money he had "borrowed" from me. I have been waiting several months now. He claims to be a regional manager for PNC bank currently, if that helps.
by the fiance March 29, 2011 8:44 AM


TO "the fiance" Yes, her name is Sylvia. They are sort of separated but not divorced. Ask him about her and all the people he scammed just here in NJ. Be carefull with your money. We do have a current cell #. Do you have a work phone # for him or the branch he works for?
by baiasprie1 April 6, 2011 11:38 AM


TO "the fiance" Yes, her name is Sylvia. They are sort of separated but not divorced. Ask him about her and all the people he scammed just here in NJ. Be carefull with your money. We do have a current cell #. Do you have a work phone # for him or the branch he works for?
by baiasprie1 April 6, 2011 11:39 AM


Wow!!!!! This guy has been scamming people for over a decade. I am one of the few who got their money back! Not sure why cuz it def took longer than what was said. I hope he serves time for all the people he has hurt. I guess a jaguar and an Armani suit can go a long way!!
by Puthiminjail April 26, 2011 1:20 PM


Check today's Trentonian, Legal notices page 42. The motion to go ahead with the civil suit has been granted!
I will let you know of the court dates in case any of you would like to participate or produce evidence against Ellis
by mesesianu June 10, 2011 11:32 AM


Sadly, I know Lionel here in Washington and tried to do business for him. Nothing ever worked out. What do I do now knowing what I know?
by Odear August 23, 2011 1:33 PM


Odear
I am not sure if you did loose money or not but we are proceeding with the motion to have him arrested on fraud charges. He had 35 days to respond to the court (he was in the Trentonian under the legal notices) and did not appear. I am not sure if you want to get in touch so let me know and I will provide you with an E-mail
by mesesianu September 5, 2011 12:39 AM


Odear
I am not sure if you did loose money or not but we are proceeding with the motion to have him arrested on fraud charges. He had 35 days to respond to the court (he was in the Trentonian under the legal notices) and did not appear. I am not sure if you want to get in touch so let me know and I will provide you with an E-mail
by mesesianu September 5, 2011 12:39 AM


may have info
by interestedparty October 6, 2011 11:12 AM


please feel free to contact my lawyer at (609)452-7100 and let them know you have info pertaining Ellis. We are ready to proceed with the court so any extra infro any of you might have would help to prove what a big crook he really is
by msb October 7, 2011 11:32 AM


I am confused, I contacted the Trentonian and looked on line but could not find a legal notice of any kind. I also contacted the clerk of the court - so where is the proof that these claims are actually valid? I too have done work with Mr. Ellis.
Also to the fiance, did you actually move in with Mr. Ellis in the condo he bought for you - and what happened to it? I also know of Sylvia the estranged wife and of another woman he has made plans to live with. Looking for validation of the accusations please.
by interestedparty October 13, 2011 8:37 AM


I do have a copy of the June 10, 2011 Legal Notice from the Trentonian. I will bring it in and scan it so you can see it. We already obtained the default judgement agains Ellis on 10/11/2011. Now we are moving on to the Prosecutor's office to see if they can file criminal charges against him given the large amount of money he took from us. I already provided a phone number for you to contact the lawyer and provide info if you wish to pursue this futher. They can provide the validation you need.
by msb October 18, 2011 1:42 PM


I have everything you need to nail this jerk for good, can't discuss online but happy to talk to the lawyer who is involved and put him in touch with at lawyer I used. He cheats big time, not only on with wife but with anyone willing to fall for his convincing ways. He also works or had a so called agency that sells for a mortgage company in NJ with a PO Box in Princeton as well. I can't wait to see him get what he deserves. I will be in touch with your attorney.
by gottheinfoyouneed October 20, 2011 6:37 PM


Just read about the fiance. I too spent time with him. He has a woman in every state. He is also co-owner or partnerships with at least one nightclub in NY so he could be hanging out there. He does not work for PNC. He is a liar so don't ever believe what he says. He is a worthless human being that needs to go to jail. I also worked for him in mortgage sales briefly and had to get an attorney to go after him for my paychecks. I can't say enough bad things about him, but all of his dirty work is done by phone and he will use any attractive woman he stumbles into to help him make money and use for his pleasure. Sorry, I could go on forever about this creep and I feel sorry for his wife who I was told was by others was an attorney but Mr. Ellis told me she worked for the DMV. Anyway, I hope justice is served!!!
by gottheinfoyouneed October 20, 2011 6:56 PM


Has this individual Lionel Ellis ever been located. Looking for him also. Any more charges or information?
by NMN July 4, 2012 5:52 PM


Located @ Old Viginia Tobaco Copany Pentagon City Fashion Center 1100 South Hayes Street Arlington,VA 22202 703-415-5554.
by CWILLIAMS45321 July 25, 2013 12:51 PM


Really..do you know if he's still there?..he may have moved on by now...
by Princeton98 September 30, 2013 11:05 AM


Who is looking, may have info
by NMN October 8, 2013 6:36 AM


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