The King Group

Meet the Penniless King Group

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Published: 11 June 2019

Posted by: Hightower

 A little about the King Group: 

The King Group are a Cleveland based commercial real estate firm focused on the development, acquisition, leasing and management of office, residential, medical and multi-use properties. The company develops, acquires and manages its properties to maintain and create value for itself and its shareholders. The company has the topmost reputation in asset and property management including managing building systems and responsiveness to tenant needs.

 

The king Group at Morgan Stanley: 

At Morgan Stanley, the King Group recognize the demands of managing your wealth require exceptional talent from experienced professionals. And that’s how the King Group bring together the best talent within Morgan Stanley and a network of third-party professionals to set a platform of the industry’s premiere wealth advisory business. For business owner and entrepreneurs, the company provides an exceptional opportunity to connect to their network of Morgan Stanley and other third party resources.

I being one of the victim was absolutely given poor services by the King Group at Morgan Stanley . They provide the worst opportunity for the entrepreneurs, must say.

Steffanie was my financial planner few years back. I initially was not firm about Steffanie but knowing her background and the networks with the King Group made me rethink and go for it. And to my much surprise, overall I found her service to be very poor and above all she paid little attention to my account. At that time , I did not have much money and it was obvious she paid little attention on my account, given how small it was. Knowing her background and experience, I believe she preferred not to work with me and in turn provided poor services so that I would take my account elsewhere. I also found her administrative staff very rude and impolite. Little did she know that I have made a significant amount of money and she could have been managing a much larger account. 

There’s another family member who made a significant amount of money too and if she had given a decent service she could have been managing both the large accounts. But alas, looking at her poor services and skills, I would never recommend her.

In the same year while reading newspaper there was a headline stating Securities and Exchange commission (SEC) announced that the court had entered the final judgements on September 28, 2015 against Garfield Taylor, Jeffrey King, Garfield Taylor, Inc. (“GTI”), Gibraltar Asset Management Group, LLC (“Gibraltar”) and The King Group, LLC (“TKG”), for their involvement with a multi-million dollar Ponzi scheme in the Washington area. The SEC had filed a complaint on November 18, 2011, claiming that Gibraltar’s and GTI’s former Chief Executive Officer, Garfield Taylor, conducted a Ponzi scheme that he had designed to target investors in the Washington, D.C. metropolitan area. The complaint stated that the scheme, directed by Taylor with the help of King and others, defrauded more than $27 million from about 130 investors from 2005 to 2010, before eventually collapsing in 2010.

On September 17, 2012, the Court granted the SEC’s motion for default judgment as to GTI, Gibraltar and King , and on December 13, 2012, the Court granted the SEC’s motion for summary judgment on all of the charges toward Taylor regarding the Ponzi scheme. On March 28, 2013, before deciding the appropriate relief against Taylor and the defaulting defendants, the Court granted Taylor’s motion to hold the case in abeyance because of the pending federal criminal charges against him at the time.

Taylor pleaded guilty in March 2014 to securities fraud.  In May 2015, he was sentenced to 13 years in prison and was ordered to pay around $30 million in restitution for the funds he received during his involvement with the Ponzi scheme.  In July 2015, the Court in the civil matter lifted the stay and ruled on the SEC’s pending motions seeking remedies against Taylor, King, Gibraltar, GTI.  On September 28, 2015, the Court ordered the following relief against the defendants:

  • Garfield Taylor and Jefferey King were permanently enjoined from violating Sections 10(b) and 15(a)(1) of the Securities Exchange Act of 1934 (“Exchange Act”), Rule 10b-5 promulgated under the Exchange Act, and Sections 5 and 17(a) of the Securities Act of 1933 (“Securities Act”).  Garfield was also ordered to pay disgorgement of about $23.6 million and prejudgment interest of about $4.3 million, for a total of about $27.9 million whereas Jefferey King was ordered to pay disgorgement of $137,641, prejudgment interest of $14,480 and a civil penalty of $150,000, for a total of $302,121.
  •     Garfield Taylor, Inc. was also ordered to pay disgorgement of about $14.2 million, prejudgment interest of about $2.9 million and a civil penalty of $725,000, for a total of about $17.9 million.
  •     The King Group, LLC, a relief defendant wholly owned and controlled by King, was ordered to pay disgorgement of $65,801 and prejudgment interest of $14,409, for a total of $80,210.

 

The King Group work ethics:

Working at the King Group is not at all great. Most of the employees feel they are trapped. All in all from the moment you are signed in, you’re hired as a slave working for 60+ hours and although they receive money at every chance they try not to pay you your commissions. There is no work ethics at all. There are lot of unexperienced managers who had been in the company since 1-3 years and that’s why being promoted. Salary is not that good at all. Stupidly long hours of work and an average hourly pay of euro3-4. The company does not care about their clients because of their staff being treated poorly. Bitchiness, back-stabbing, bullying, and generally stealing jobs off less experienced people is the norm. Negotiators are ripping off each other. All in all a downgrade company to work with.

DON’T GET FOOLED BY THE KING GROUP.

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