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WestBridge Mutual, LLC.

Country United States
State California
City Century City
Address 10100 Santa Monica Blvd.
Phone 1-888-406-1650

WestBridge Mutual, LLC. Reviews

  • Jun 5, 2017

In mid-December 2011, Hydrotech (HT) spoke with Jesse W. Hathorne and Michael A. Briscoe, representatives of Westbridge Mutual LLC, on a telephone conference call. Mr. Briscoe and Mr. Hathorn told Hydrotech (HT) that their company, Westbridge Mutual, could obtain a loan in the amount of $8 Million through Wells Fargo Bank, funded within 10 days, for a fee of 10% or $800,000. Mr. Briscoe and Mr. Hathorne stated that in order to obtain the $8 Million in funding within 10 days, Hydrotech was required to place 10% of the loan amount ($800,000) in an escrow in advance to cover loan costs and fees. Mr. Hathorne and Mr. Briscoe stated that the escrow agent for the $800,000 fee was to be California attorney Michael Papuc.

In December, 2011, a loan request on behalf of Hydrotech to Mr. Briscoe, Mr. Hathorne, and Westbridge Mutual for the $8 Million loan. In mid-Jan, 2012, Michael A. Briscoe and Jesse W. Hathorne provided names of two previous customers of Westbridge Mutual as independent business references:

Daniel M. Gotvald, Leveraging Wealth LLC, 951-452-7985

Dayo Beverly, New Perspective Media LLC, 310-962-4310.

Dayo Beverly said that she worked in tv and film production and used attorney Michael Papuc, in separate transactions with Westbridge Mutual. She stated she didn't have any current loans with Westbridge Mutual but will definitely use them in the future depending upon the level of capital needed at the time.

Daniel M. Gotvald said that he was a financial broker and claimed to use Westbridge Mutual on a regular basis and that he has used Michael Papuc numerous times. He claims to have been very satisfied with both Mr. Papuc and Westbridge Mutual. He recommended both Michael Papuc and Westbridge Mutual highly.

In late Jan, 2012, Hydrotech, Michael Papuc and Westbridge Mutual executed an Escrow Agreement whereby HT was to place $800,000 in escrow with attorney Michael Papuc to be released upon funding of the $8 Million loan. Hydrotech sent $800,000 by bank wire through their law firm pursuant to the Escrow Agreement.

Michael A. Briscoe and Jesse Hathorn told HT reps that the loan was funding and the $800,000 should be released. Michael Papuc told HT that the $8 Million loan was funding and asked HT to confirm release of the funds by Mr. Papuc. The release was authorized only if the condition of the Escrow Agreement for release of the funds had been met by the $8 Million loan funding. In fact, contrary to the representation by Mr. Briscoe, Mr. Hathorne, and Mr. Papuc the loan had not funded.

Michael Briscoe was arrested on felony complaint on another matter, involving identity theft, fraud, theft, etc., brought by the Los Angeles County District Attorney.

Daniel Gotvald had misrepresented himself as an independent business reference for Westbridge Mutual when he was a paid associate of Michael Briscoe and that Dayo Beverly misrepresented herself as an independent business reference when in fact she was the business partner and girlfriend/wife of Michael Briscoe and the mother of one of his children. About this time, HT reps discovered that Michael Briscoe had defrauded others in a similar loan scheme and that the reason they could not reach Mr. Briscoe because he was in custody in LA county jail, having been arrested for identity theft and credit card fraud in a felony complaint filed by the Los Angeles District Attorney.

HT reps spoke by telephone with Jesse Hathorne and demanded the return of HT funds. Jesse Hathorne said that Mr. Briscoe had been unavailable on a business trip to Las Vegas, when in fact Mr. Briscoe was in Los Angeles County Jail. The conference call was recorded. HT reps sent, to attorney Michael Papuc, a Notification of Non-performance, which under terms of Escrow Agreement triggers refund of $800,000 upon confirmation of the failure of Westbridge Mutual to cause bridge loan of $8 million to be provided to Hydrotech.

On February 7, 2012, Michael Briscoe posted bond in the amount of $250,000 bail in matter of People v. Michael Briscoe LASC Case No. BA391884.

As of March 18, 2012, Westbridge Mutual and Michael Brisoce have not returned the funds, nor provided accounting of the funds. Efforts to contact Mr. Michael Briscoe, Mr. Jesse Hathorne, Mr. Daniel Gotvald, Ms. Dayo Beverly, have not been successful. Lawsuits are being filed.

Aliases: Mike Briscoe, Mike Anthony, Michael Anthony, Anthony Briscoe, Michael Briscoe, Dayo Azziza Beverly, Beverly Dayo, Danny Gotvald, Daniel Marinko Gotvald, Jesse Hathorne, Jesse Hathrone, Jesse Hathorn

Known States: California, Nevada, Texas, Louisiana, Maryland, Virginia, DC, London, England

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