Borrow shares, lend money, dump shares, vanish… that’s High West Capital Partners
I need to share this because I cannot get my head around what has apparently happened. I have lent stocks in exchange for funding before, sometimes it works out better than expected, sometimes a little worse, but if it gets me where I need to be, I’m happy with that.
What I did NOT expect to happen is my portfolio gets smashed because High West Capital Partners decided to SELL MY SHARES WITHOUT TELLING ME. They are the most irresponsible, unscrupulous, low down company out there.
It’s such a simple con, I can’t believe I fell for it, nor can I believe they are still taking money from people! My experience was this – I have a strong, diverse portfolio, but wanted to free up some liquidity to foreclose on a property. And I needed it fast. Through word of mouth I end up dealing with High West Capital Partners, and they were all over it at first. They were telling me about where the shares were stored, were also quite charming and on board with my idea… one of the agents was trying to tell me he could get me a better deal on a place down in Miami.. Anyway. I crunched the numbers, and it all looked good. I had about $4m to put up in value, which I transferred, and it went like clockwork as the loan soon arrived.
This is when things started going wrong. I do what I do and pay it off in chunks, then I’m near the end, three months away in fact, and I check in with them… nothing. Ok, I figure, no need to worry, we don’t have to do anything until it’s all paid off anyway. So I make the last payment and am ready to take hold of my stocks, which I understand have actually gone up, and… I get an automated reply telling me they sold the shares. My brain exploded at this. They SOLD THEM WITHOUT TELLING ME. I made every payment. On time. All recorded. Anger levels rising, I started to chase them, and I guess the joke’s on me because they have now dropped off the face of the earth.
If I ever get hold of them I will update this review, but it’s sickening to think how gullible I was. Don’t deal with High West Capital Partners. It really is that simple. If something seems too good to be true, it is, so avoid.