Coast Capital Management

Review: I gave [redacted] (aka "[redacted]"), owner of Coast Capital Management of Newport Beach, CA (San Diego, CA or Orange County,CA) about $240,000 in 2009 and 2010 to invest in securities and options. He has been showing enormous returns in 2009 thru 2013. Myaccount balance grew to over $600,000 (after management fees). However, I requested a redemption of $100,000 on 12/14/2012 and to thisdate (a year later) have only received $20,000. From Feb 2013 thru June 2013 I have been visiting the all address given for Coast Capital but atnone was the firm known to have resided. In July 2013 I requested account closure because he didn't pay my redemption balance, but still tothis day I haven't received any money. Since August/September 2013 [redacted] has gone dark and is assumed to be hiding in LasVegas casinos. Since December 2013 he is not returning phone calls. My CPA had requested tax transcripts for Coast Capital from the IRSonly to find out that [redacted] had never filed any returns with IRS.Desired Settlement: I want at least my principal investment of $240,000.00 back, plus 10% interest for the years 2010-2013.

Review: Coast Capital Management seems to be a ponzi scheme and/or a fraud. The sole proprietor seems to have run without paying clients money.Desired Settlement: I'd like to receive my money back.

Review: I believe my financial adviser has embezzled money from me.My wife [redacted] and I hired a financial advisory firm that went by the name of Coast Capital Management LLC out of Newport Beach, CA. [redacted] was the CEO and our financial adviser. I opened a standard brokerage account on 12/8/2010 with a cashiers check for $75,000 and also transferred a Roth IRA from Fidelity Investments to him on 12/22/11 for $71,089.Since January of 2011, I had been receiving several account statement per week from Coast Capital Management showing the status and performance of my accounts. The last statement I received was on August 31 of 2013. On 10/1/2013 I request a full redemption on both accounts via email to [redacted]. He responded immediately and said he would begin the process. Since then his phone ###-###-#### has been turned off and the address is defunct and emails are bouncing back ([redacted]@coastcptl.com). I have been in contact with him via email on several occasions recently and he says he is working on getting the money to me. His current email is [redacted]@ymail.com.He says he is living in Las Vegas NV. And I have also received a few phone calls from him that shows a Las Vegas number ###-###-####.My last Account statement from him shows and account value of~$193,000 and ~$118,000 for the Roth IRA.Statements were accessible through Morningstar at https://cwp.morningstar.com. I had two log ins: [redacted]@msn.com and [redacted]@gmail.com.The last known address of the company was:Coast Capital Management LLC5000 Birch StWest Tower Suite 3000Newport Beach, CA 92660###-###-####Also wired him $500 via Western Union on 11/9/2013. He said he need this to complete the transaction and I would have my funds transferred with 5-8 business days.I have several emails, texts and statements to corroborate my claims.Sincerely,[redacted]###-###-####[redacted]@gmail.com[redacted]Desired Settlement: Return of full account values.

Review: [redacted] presented himself as a credible and legitimate broker/investment manager. He received hundreds of thousands of dollars from investors and provided account statements detailing trades for months/years however when a number of investors sought withdrawls he abruptly discontinued contact, closed office and has gone missing along with the investors moneyDesired Settlement: I would like all of my money back