BiggerPockets is proud that we’ve been able to provide a forum for possible “victims” of what some claim to be a massive real estate fraud. For the past few months tens of thousands of current and possible investors have flocked to BiggerPockets Forums to exchange information and help one another stay abreast of fast moving developments involving Pinnacle Development Partners, LLC. In addition, ex-employees and officials have also participated in the discussion, keeping interested parties in the loop. The U.S. Securities and Exchange Comission (SEC) yesterday filed fraud charges against Pinnacle and its founder, Gene O’Neal, claiming that it operated a ponzi scheme.
In the next few weeks, BiggerPockets wil be announcing an exciting new forum, where anyone dealing with real estate will be able to help one another avoid the very real dangers of fraudulent real estate and mortgage schemes.