Just spoke briefly with the Kansas attorney who handled the lawsuit against Elfsten, Hasegawa, and Mournes. The trial resulted in excess of $4,000,000 in federal judgements and attorney costs against Elfstein, Hasegawa, Mournes, Duval, and Mark Zouvas primarily for RICO violations.
Just want to warn other potential victims that according to my visit with the attorney, these guys may be still operating their Venezuelan Bond funding scam under a new name, which possibly may be under a guy named Daniel Star(r). The Pacific National Capital website is no longer active. But their oceanpacificcapital.com website is still up and running, which shows their 'supposed' Recent Closings that have never been able to be verified. Duval passed away in February, 2021 from what I understand to be suicide.
Our company paid a $7,600 fee to PNC (Pathetic National Capital) of Newport Beach, California back in March, 2016 toward their funding services for our Texas horizontal oil project we were preparing to develop. We were assured by PNC that they had solid funding sources and specifically a relationship directly with a successful and seasoned businessman, who turned out to be William (Bill) Mournes who was Chuck Elfsten's supposed cuddle buddy in his military days (if they really served with valor, which is doubtful), for providing only oil and gas funding to clients of PNC like us. We were assured we would be funded within 60-90 days of paying the required fee in March, 2016.
We are now in June, 2019 and they have never performed in 39 months of depositing the funds with them. The excuses have been absolutely absurd at times throughout their excuse laden journey. Their websites are still up and running with REPRESENTATIONS that THEY have facilitated the ‘Recent Closings’ of a number of certain transactions. But three (3) years later, not a single one of these transactions has ever changed or expanded on their websites. It is my presumption that these ‘Closings’ are likely false or even partially false.
We spoke to Mark Hasegawa at Pacific National Capital about securing some financing for an oil and gas project in Louisiana. which involved funding a $35 million dollar oil property and forming a joint venture with our company. Mark said they were interested in researching our proposal further but to complete their research would require us to pay an upfront fee of $7,600 and sign a non-exclusive agreement. We were told that there was a $7600 per project for the first 2 projects and then the remaining projects wouldn't require any upfront fees. This didn't make sense to us. Because we were suspicious of the $7600 fee, we emailed Mark on 8/21/17 asking him for references -- we wanted to talk to some actual people who had secured financing from PNC to make sure it was legit before we paid the $7600. We never got a response to our request for references. We decided not to pay the $7600 upfront fee. I was also leery of paying the $7600 fee after reading a July 2017 ripoff-report complaint by someone who paid $7600 and was never contacted again. We were not "ripped off" by PNC (no money was paid) but we feel we should share our experience with PNC.
Pacific NAtional Capital, along with there President Charles Elfsten and Vice President Mark Hasegawa entered into a written agreement with us stated that they can secure the financing needed for our company.
We were istructed to wire a total of $7600.00 USD and the transaction would take approximately 4-6 weeks.
We followed the instructions and ever since they received our money we have hear nothing but excuses regarding the funding, including putting other people on the phone, using the down maket and other lame excuses.
We have watched the market make a good turn around for the funding needs in this indusrty. and still no word from them.
We requested that our funds be return verbally and in written, to no avail. Now I guess because we stoppted calling they feel that everything is ok and they will just keep our money.
We are a small family business and that was a great amount of money for us. Since then we have lost our business opportunity and personally we are now suffering.
but they do not care about anyone but themselves. They took our money and provided NO services at all but Lip Service!!!
I would like to talk to you about your experience with Pacific National Capital and talk to you about whether you were introduced to a group that went by the name Waterfall.
Pacific National Capital Reviews
Just spoke briefly with the Kansas attorney who handled the lawsuit against Elfsten, Hasegawa, and Mournes. The trial resulted in excess of $4,000,000 in federal judgements and attorney costs against Elfstein, Hasegawa, Mournes, Duval, and Mark Zouvas primarily for RICO violations.
https://www.docketbird.com/court-documents/Watchous-Enterprises-L-L-C-v-Pacific-National-Capital-et-al/RESPONSE-by-Defendants-Charles-A-Elfsten-Mark-M-Hasegawa-re-452-Motion-for-Attorney-Fees-and-Motion-for-Reconsideration/ksd-6:2016-cv-01432-00455
Just want to warn other potential victims that according to my visit with the attorney, these guys may be still operating their Venezuelan Bond funding scam under a new name, which possibly may be under a guy named Daniel Star(r). The Pacific National Capital website is no longer active. But their oceanpacificcapital.com website is still up and running, which shows their 'supposed' Recent Closings that have never been able to be verified. Duval passed away in February, 2021 from what I understand to be suicide.
BUYER PLEASE-PLEASE BEWARE!
POSTED ON ANOTHER WEBSITE IN JUNE, 2019
Our company paid a $7,600 fee to PNC (Pathetic National Capital) of Newport Beach, California back in March, 2016 toward their funding services for our Texas horizontal oil project we were preparing to develop. We were assured by PNC that they had solid funding sources and specifically a relationship directly with a successful and seasoned businessman, who turned out to be William (Bill) Mournes who was Chuck Elfsten's supposed cuddle buddy in his military days (if they really served with valor, which is doubtful), for providing only oil and gas funding to clients of PNC like us. We were assured we would be funded within 60-90 days of paying the required fee in March, 2016.
We are now in June, 2019 and they have never performed in 39 months of depositing the funds with them. The excuses have been absolutely absurd at times throughout their excuse laden journey. Their websites are still up and running with REPRESENTATIONS that THEY have facilitated the ‘Recent Closings’ of a number of certain transactions. But three (3) years later, not a single one of these transactions has ever changed or expanded on their websites. It is my presumption that these ‘Closings’ are likely false or even partially false.
We spoke to Mark Hasegawa at Pacific National Capital about securing some financing for an oil and gas project in Louisiana. which involved funding a $35 million dollar oil property and forming a joint venture with our company. Mark said they were interested in researching our proposal further but to complete their research would require us to pay an upfront fee of $7,600 and sign a non-exclusive agreement. We were told that there was a $7600 per project for the first 2 projects and then the remaining projects wouldn't require any upfront fees. This didn't make sense to us. Because we were suspicious of the $7600 fee, we emailed Mark on 8/21/17 asking him for references -- we wanted to talk to some actual people who had secured financing from PNC to make sure it was legit before we paid the $7600. We never got a response to our request for references. We decided not to pay the $7600 upfront fee. I was also leery of paying the $7600 fee after reading a July 2017 ripoff-report complaint by someone who paid $7600 and was never contacted again. We were not "ripped off" by PNC (no money was paid) but we feel we should share our experience with PNC.
Pacific NAtional Capital, along with there President Charles Elfsten and Vice President Mark Hasegawa entered into a written agreement with us stated that they can secure the financing needed for our company.
We were istructed to wire a total of $7600.00 USD and the transaction would take approximately 4-6 weeks.
We followed the instructions and ever since they received our money we have hear nothing but excuses regarding the funding, including putting other people on the phone, using the down maket and other lame excuses.
We have watched the market make a good turn around for the funding needs in this indusrty. and still no word from them.
We requested that our funds be return verbally and in written, to no avail. Now I guess because we stoppted calling they feel that everything is ok and they will just keep our money.
We are a small family business and that was a great amount of money for us. Since then we have lost our business opportunity and personally we are now suffering.
but they do not care about anyone but themselves. They took our money and provided NO services at all but Lip Service!!!
Watchous v. Pacific National Capital, et. al
I would like to talk to you about your experience with Pacific National Capital and talk to you about whether you were introduced to a group that went by the name Waterfall.