Business Evaluation Systems Complaint

B

Corporate Acquisitions Group (Ty Tymkovich) used Business Evaluation Systems (BES) to complete his scam against our company. There are numerous other reports about Corporate Acquisitions Group, including a website tytymkovich(dot)com so I won’t go into detail about how his scam is conducted, only BES’s contribution. Suffice to say, however, that Corporate Acquisitions charged excessive fees for a “business evaluation” and contracted BES to do them. I had several e-mail correspondences with Kristen G. Abraham, Vice President of the company where she was fully aware of the exhorbitant fees charged by Corporate Acquisitions for a “Business Evaluation”. In those e-mails, Kristen and Ty Tymkovich made it quite clear it was an “asset” appraisal, fully suitable for a buyer to approach a lending institution for an SBA loan, which clearly means that the current value of our business assets (capital equipment, inventory, land and building) would get a fair and impartial evaluation… as was the case when I purchased our business through an SBA loan. Instead, all I received was a rather lame manipulation of a few years of UNVERIFIED financial information buried in many, many pages of boilerplate cut-and-paste irrelevant references and meaningless numbers to make it look like it’s worth something. Most likely took less than an hour to do, particularly since we received no visits, and no phone calls. Even the “goodwill” value (the only number they attempted to compute) was horribly computed and horribly undervalued as compared to other systems that have also computed the goodwill value of our business with far more consistency. The leading page of the “appraisal” clearly says it was an asset appraisal, but buried a few pages later it also says that our assets were NOT appraised, but my own rough estimates were included in the total value. (Wow… maybe I should have charged BES a consulting fee?) I showed this to my bank (an SBA lender), they immediately rejected any notion that an SBA lender would find this product acceptable. According to all the other reports on Corporate Acquisitions Group and Ty Tymkovich, his house of cards is falling in around him, and the authorities are on his trail. I hope the trail also leads to BES for their participation in his scams.

This review (Business Evaluation Systems Complaint) was originally published at Skeptic Files.

To read the full review, go to –
www.skepticfiles.org/scam/business-evaluation-systems-complaint/

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