TowerPoint is a deceptive company and scammed my friend for the land that was under his lease agreement. A cell tower that was sold in 2003 to my friend, was illegaly handled by TowerPoint Capital together with the landlord who was greedy and was willing to do anything to get the money in his pocket. My friend was paying the purchase price through income stream of the cell tower to the original land owner. However, the company conspired with the landlord and created fake papers that gave rights to the company over the school property, which was operating under the name of CCG, to hide its actual identity.
The school property came under the cell site lease agreement and the lease revenue. And, the lease lucidly stated that the “lease runs with the land”. My friend made the payment for the land in full and owns the deed. The deed guarantees him of any revenues generated and lease that as per the agreement, “runs with the land”. However, the ghost company that is now very much evident to be the TowerPoint Capital, is still illegally hanging onto the site revenue with the help of their lawyer which is only $700 per month. It is also claiming school property inspite of the fact that the property was deeded in 2003, way before the company came into existence.
TowerPoint Capital is a fraudulent company and baits the customers by offering the partnership into selling the cell tower leases in less amount that the market price. This statement is as fake as the company itself. The company is all about making profit, even if that means going the wrong way.
In spite of the promises about partnership, TowerPoint Capital sold all its deals to the Crown Castle just after the close. Because of the same scam, the company is under a law suit which is backed by many disgruntled customers and is gaining fire.
The lawsuit is filed in more than 18 states of US. The company is based out of Atlanta, Georgia. However, its fraudulent practices are spread all over the USA.
The company lost its private equity funding in 2014 which was bought by Jesse Wellner, John Gutowski and Dustin Cahill. The investigation is still on for the lies that TowerPoint made with its customers and did exactly opposite.
According to the law suit, the company misled the customers and promised that by selling their cell tower lease to the company, the company will be providing them partnership and would increase the value of the cell phone tower. But, it did the opposite. It sold all the deals to the Crown Castle International.
As of now, TowerPoint Capital’s acquisitions are funded by AllianceBernstein which is been blamed for being an active participant in the illegal scheme ran by TowerPoint Capital.
The company is accused of dealing with different names and fooling people and customers from different states of US.
The agents of the company are also accused of selling fake deals to the clients at lower rates and when questioned, threaten them. I even had a chance to talk to an employee at the company and he gave me an inside story of what was happening at the back end. He informed that the company was making agents call people to sell their assets which they were not wanting to sell.
Frustrated agents sitting for long hours and making unlimited calls, were never given proper training. All the company wanted, were deals.
The company tactics are questionable, and nothing seems appreciative. While looking into details of the company and its operation, I was able to explore a lot of unsaid truths about the company, that made me think if the company was at all looking to work together with the customers or against them.
People all over America are encouraged not to have any association with the company as it would lead them to losses. If you get a call from the company to sell your cell phone tower or any other asset, disconnect the call immediately. These people are looking out for vulnerable clients and can make most of the opportunity if laid in front of them.
If you do not want to lose money as well as your asset, stay away from this name, TowerPoint Capital.