Quote from @Dennis Summerford: Quote from @Alex Tank: PONZI SCHEME, yes, I do have experience investing in Norada.

And these crypto exchanges have been hacked or they themselves have stolen money out of accounts.If you like ponzi schemes, then crypto is the way to go. 

There’s no get rich quick scheme in real estate that I know of, it’s a long term investment strategy.

At first I looked at this as possibly just a failed investment where millions of unaccredited investors lost money (still very bad for everyone involved), but after learning about the involvement of Ronald Fossum that has a convicted history of defrauding investors and the fact that Norada is still raising money from investors, my mind now goes immediately to possible Ponzi Scheme paying past investors current funds being raised.

- OutStanding Realestate Solutions - "Queen of Mobile Homes" Chimene Van Gundy Plans to Plead Guilty to scheme - read the San Antonio Times Express April 25 2025 - the articcle states "Van Gundy, who raised about $18.5 Million, "used the funds for different purposes, such as making payments to different investors, paying undisclosed sales and commissions" and paying herself and othersm the document states.

It is not a get rich quick scheme.

Effectively they are arguing that MOST students are drawn in by the get rich quick scheme and fork over lots of money thinking after 1-2 months of mentorship they will start making hundreds of thousands of dollars.  

Back in the day I got involved in more than one MLM scheme( multilevel marketing.)

Everyone's best guess is the provider created a pyramid scheme and spent the rehab money.

I know there is another scheme where people create their own mortgage company to make the property appear to have no equity