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Lear Capital, Inc. complaints

1990 South Bundy Drive, Suite 600
Los Angeles, CA 90025
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(800) 576-9355

http://www.learcapital.com

9:00 am to 6:00 pm PST

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Total Amount in Dispute:
$211,063.00

Total Amount Settled:
$0.00

Complaint Experience

71%

Complaint Resolution Index (CRI)

BCA's Summary and Analysis:

Our complaint history for this company shows that the company responded to and gave proper consideration to most complaints. However, one or more complaints are unresolved meaning the company failed to properly address the complaint allegations or their response was inadequate.

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Complaint Closing Statistics

7 complaints against Lear Capital, Inc. closed in last 3 years.
Complaints Type of response
0 Making a full refund, as the consumer requested
0 Making a partial refund
6 Agreed to make an adjustment
1 Refusing to make an adjustment
0 Refuse to adjust, relying on terms of agreement
0 Unanswered

7 complaints against Lear Capital, Inc.

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6/22/2022

RESPONSE: Agreed to make an adjustment Amount in Dispute: $68,000.00 Amount Settled: $0.00

Customer Complaint

5/6/2022

I had 80000.00 that I wanted help with investing and contacted Lear capital, sales I was connected to an investment advisor named Benny Novac, I explained to Benny that I had 80000.00 retirement money that I needed help with investing, he assured me he would grow it for me if I followed his lead, which I did, he contacted me three times advising me how to invest my retirement money, by the time I realized what he was doing my 80000.00 ended up being 12000.00, he took me to the cleaners, was 82 years old when this took place.. Resolution Sought Get my money back for me, because I was deceived by Benny Novac/Lear Capital... I have a log of what I filed in an attempt to get justice, I files with the senior advocacy, I contacted the Missouri states attorney they said tough not their problem..

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Company Response

6/8/2022

Even though customer has some ground to make up overall, the current coins and bars that he owns that he acquired via Lear Capital were priced at $270,945.44, and if he sold them back to Lear Capital today, he would receive $293,359.26 minus shipping. Customer has been informed of this, and he responded favorably to this news. We encourage customer to call Lear Capital if he has any other questions or concerns.

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Customer Rebuttal

6/10/2022

I was not informed by Benny Novak that if I sold the coins back to lear that I would have received $270,359.26 that is a complete lie, Benny said Ken you need to sell the coins that we bought with the $80,000.00 and buy silver bars I believe you will be in a much better position doing that, I found out after that transaction that Benny knew silver was at about $50.00 an once and after he made that transaction it went down to $12.00 an once, he states I called him which is an absolutle lie, he called me twice to get me to accept the transaction stating that would be the best way to go, Benny used me to benifit himsele knowingly...

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5/31/2022

RESPONSE: Agreed to make an adjustment Amount in Dispute: $95,000.00 Amount Settled: $0.00

Customer Complaint

3/22/2022

My late mother who passed Jan of this year, invested over $95,000 in Silver and at was scammed out of $33,250 in commissions for transactions she truly didn't understand. In one transaction she paid $48 per one once coin, when Silver was trading for $26 per once, who does this to our elderly. I have recently through the process of going through her assets and seeking both counsel in precious metals and legal counsel, discovered the Lear is being sued and has been sued multiple times for this behavior and subsequently filled Chapter 11 to protect themselves from the losses from said suits especially the NY and LA suits. I have tried to work with them to resolve this and after and initial honest and fair offer to buy back the silver they wont even return our phone calls now. Buyer beware!! Resolution Sought Buy back out coins at a fair price!

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Company Response

5/13/2022

Mr. Moran was kind enough to express his concerns to Lear Capital, and we were able to agree on a solution that Mr. Moran is satisfied with.

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