$1.2 billion real estate investing ponzi scheme
#5 Investor Mindset Contributor
- Investor
- Greenville, SC
https://www.sec.gov/news/press-release/2017-235
Awful situation...reinforces the need to thoroughly vet syndication sponsors.
On a positive note, my 91 year old, very active, great grandmother is here with us for the holiday and she has 14 grandchildren, 31 great grandchildren, and 3 great great grandchildren...now that's my kind of pyramid!
Most Popular Reply
It is people like these that make it more difficult for those of us that are providing a service to individuals and organizations. Through Private Placements, investors can pick and choose non traded investments, and not be totally reliant on the volatility of the stock and bond market. Without credibility, we are out of business. Vetting of the investment sponsor is extremely important, and job one for a potential investor. Those of us in this business welcome and encourage full vetting of our businesses.