Introduction
SXP Capital, also referred to as SAXCAP or Saxon Spencer Capital, is a financial entity based in Dix Hills, New York, allegedly helmed by Adam Cohen. Touting itself as a fund management firm, SXP Capital has drawn serious allegations of fraud, financial mismanagement, and outright deception. This investigation is anchored in a damning complaint filed on Ripoff Report (Report #1535665, dated June 24, 2021) and extends into a deeper probe into the company’s questionable history, lack of transparency, and serious risks for investors. With little verifiable information available and red flags piling up, this report aims to unravel whether SXP Capital is a legitimate investment firm or yet another fraudulent scheme designed to exploit unsuspecting victims.
The Smoking Gun: Ripoff Report #1535665
A single complaint can be dismissed as disgruntled noise—but when a firm operates in the shadows, every accusation demands scrutiny. The Ripoff Report complaint titled “SXP Capital SAXCAP Saxon Spencer Capital Dix Hills NY – Adam Cohen Changed the Name to Hide Shady Dealings” details troubling allegations, including:
- Deliberate Name Changes to Evade Scrutiny: The report alleges that SXP Capital, originally known as Saxon Spencer Capital, rebranded to SAXCAP to shake off past legal troubles and fraudulent dealings.
- Unspecified Fraudulent Practices: Though the complaint lacks granular detail, it paints a clear picture of a company engaging in deception and financial misconduct.
- Adam Cohen’s Role in the Scheme: The report explicitly calls out Cohen as the mastermind behind the firm’s dubious activities, indicating a history of unethical behavior.
- A Pattern of Hiding and Obfuscating: The claim that SXP Capital has repeatedly changed its name aligns with common scam tactics where fraudulent companies rebrand to dodge legal consequences and resurface under a new identity.
While Ripoff Report complaints are user-generated and not independently verified, the accusations are severe enough to warrant an extensive investigation. The existence of such a complaint—without any public rebuttal or effort from SXP Capital to clear its name—is highly suspicious.
The Dark History of SXP Capital
SXP Capital markets itself as a fund management firm based in Dix Hills, Long Island. However, digging into its background reveals a disturbing absence of verifiable information. Unlike reputable investment firms, SXP Capital lacks:
- A legitimate website or online presence
- Regulatory filings with the SEC or FINRA
- Transparent leadership and a verifiable track record
- Client testimonials or independent reviews
Adam Cohen, the alleged CEO, is linked to multiple entities, including SAXCAP, Saxon Spencer Capital, and Smash Mortgage Inc. While his LinkedIn profile claims an MBA from the London Business School, there is no concrete evidence tying him to a successful, legitimate financial career. Instead, his name repeatedly surfaces in connection to dubious financial ventures.
A Deep Dive Into the Allegations
1. Serial Rebranding to Cover Tracks
Fraudulent financial firms frequently change names to sever ties with past complaints, lawsuits, or regulatory actions. The Ripoff Report claim that SXP Capital previously operated under Saxon Spencer Capital and SAXCAP fits this pattern exactly.
2. No Regulatory Oversight
A search through SEC (U.S. Securities and Exchange Commission) and FINRA (Financial Industry Regulatory Authority) databases yields no records for SXP Capital, SAXCAP, or Saxon Spencer Capital. This means the firm is either operating illegally or exploiting regulatory loopholes to fly under the radar.
3. Lack of Transparency = Major Red Flag
Reputable investment firms thrive on transparency. They openly disclose leadership, investment strategies, and performance reports. SXP Capital, by contrast, operates in total obscurity. There are no visible records of:
- Who its clients are
- How much capital it manages
- What investment strategies it employs
- What regulatory approvals it holds
4. No Client Reviews or Investor Testimonials
A company managing investments should have public feedback from clients—but SXP Capital has none. No Yelp reviews, no Google ratings, no Trustpilot scores. Either they have no real investors, or negative feedback is being aggressively scrubbed.
Financial and Legal Risks
1. High Likelihood of Financial Loss
If SXP Capital follows the classic fraud model, potential investors are at risk of losing their money with no legal recourse. Without SEC registration, there are no protections for investors should the company vanish overnight.
2. Possible Legal Ramifications
Investing with an unregistered, potentially fraudulent firm could expose individuals to legal consequences. If authorities investigate SXP Capital for securities fraud, investors may be implicated in an illegal scheme.
3. Reputation Damage
Anyone associated with SXP Capital—whether as an investor, partner, or recruiter—risks having their name linked to financial misconduct. This can be professionally and legally damaging.
Comparing SXP Capital to Other Notorious Financial Scams
Fraudulent financial entities follow predictable patterns. Consider these infamous cases:
- Renaissance Financial Securities Corp. (2001): A fraudulent investment firm that defrauded clients under the leadership of Stanley and Adam Cohen (no confirmed relation to SXP’s Adam Cohen). The firm’s structure and deception tactics were eerily similar to what we see with SXP Capital today.
- Platinum Partners Hedge Fund (2016): Operated under a veneer of legitimacy while engaging in a Ponzi scheme, leaving investors high and dry when it collapsed.
SXP Capital exhibits all the hallmarks of these financial frauds—lack of transparency, unregistered operations, leadership with a questionable history, and a pattern of rebranding to avoid scrutiny.
Conclusion: A Scam in the Making?
SXP Capital is an unverifiable, high-risk, and likely fraudulent entity. The combination of name changes, unregistered operations, and zero transparency makes it extremely dangerous for any investor. While no formal legal action has yet surfaced against Adam Cohen or SXP Capital, the pattern of deception is clear.
