Autaco Development

Autaco Development

Reviews: 1


Total views: 5060

Published: 31 October 2020

Posted by: Anonymous

Audra Cooper and Autaco Development is a fraud. She does not pay for services from third parties, subcontractors, disregards her contractual obligations to her clients, customers, and third party vendors. Do not do business with her. I assisted her in getting funding she desparately needed for a construction project and saved her over a 1 million dollars in equity by doing so and when it came time to pay for services rendered she has disappeared. I was engaged by Audra Cooper of Autaco Development LLC to provide funding for a development known as Rosewood Subdivision. She agreed to Non Disclosure and Non Circumvent agreement that asserted she would pay me for obtaining funding on her behalf and not circumvent my sources to obtain funding. She signed this agreement and the deceived me and when I obtained funding for her has refused to respond and remit payment for those services. I have contacted my attorney Susan Langford who help me construct a demand letter send on December 27, 2018 with invoice and Cooper has not responded as of this date Jaunary 11, 2015. I have enclosed a timeline and contact me for any clarification. Received NDA from Audra Cooper to obtain funding for Autaco Nov 7, 2104 Submitted files to lenders who changed parameter Nov 8th to Nov 16th 2018 Audra Cooper managing member of Autaco indicated around November 18th that had the option to buy the note for discount by December 10-11. This note was held by Bank of Atlanta for $1.9 Million and she had an offer to buy back the note for $320,000 for a saving of 1.5 million dollars. However, she had no evidence I could provide lenders that this deal was real or of the offer.I had some interest no evidence provided by bank. November 24 Mrs. Audra Cooper notified me that the offer from Bank of Atlanta would expire first week of December but there was no letter from Bank of Atlanta president. I submitted file to other construction lenders working on the construction loan. The Bank of Atlanta president supposed to have letter by Friday Nov 26, 2018 no letter was present. On November 26th to December 1 2014I Timothy Allsopp discussed the deal with several private money lenders and individuals that made site visits the following week.Finally Monday evening 29th of November the Bank of Atlanta puts in writing the offer for the discounted pay off on the land at $260,000 but deal expires on December 4….Two Lenders I talked to decided they were not interested on November 30th and 1st two other private lender decided there was not enough time The hard asset lenders needed more time.December 4, Audra said the president could turn over the files on Monday.I informed her as a last resort option she could get business loan… she offered that she could bring cash for 80k or so but would need close with an 180k business loan. I contacted a lender and obtained her application for business funding to receive a fast business loan again as a last resort.I submitted it on December 4th. Underwriting contacted Cooper to submit more information on bank statements December 11thI contacted her to set up conference call she had received an LOI of 5MM for the original construction loanI received a weird text and I questioned her motives it appeared that she was trying to flip the land instead of develop it I questioned her intentions because of my efforts and time involved and said I would back out if she was not intending to pursue the construction lending as well. Cooper assured me needed the construction fundingHad a conference call for the construction funding with the lender on Friday December 19th and Mrs. Audra Cooper. Mrs. Cooper appeared uwas not interested in the terms of the loan but wanted to force the lender to give her the money for the lots.This was strange to me because I knew I had gotten her an approval for enough funds to buy the lots for 260k with the business loan for 168k and she needed to sign the contract to get the rest of the funds and not waste the lender’s timeShe was approved on for the business loan I originated and submitted on 4th on December 17th and received the funding package on the 18th of December 2014.I indicated to her on several occasions by phone and email that per our NDA I needed to be updated on her intentions and needed to discuss my compensation because she was approvedShe has ignored all calls and emails requesting clarification and addressing my compensation for the funding she acceptedSigned the contract to be funded on 19thAutaco received Funding on December 22, 2018 for $168,000I received all communication from the lender not the client on money and she obtained through me sources contacts and communication and I took the application and provided the initial underwriting documentsI sent the client several texts and emails and contacted my attorney Susan Langford on December 23, 2014. I constructed one last demand letter with invoice sent on December 27, 2018 providing she remit payment for my services in amount of $5,000 as well provide me the courtesy of feedback on the 5,00,000 construction loan I obtain a letter of interest for her from a lender to fund her construction build out. I am pursuing legal remedies including placing liens her personal property and business property. It also came to my attention that she has defrauded the home owners in the Rosewood Subdivision as well. She used bad contractors and the house has 10 to 20 leaks and she has ignored the homeowner’s to a point that they contacted the media and a meeting was held but she has not corrected the issues for the homeowner’s and operates with an attitude she is not accountability or concerned about anyone’s interests, efforts, and any obligation fiduciary or otherwise. Do not do business with her, she should not be bonded and steps on the subs and other intermediaries to accomplish her business goals

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