Originally Posted by
Type_S1
Step 1: create an “investment” opportunity
Step 2: market such opportunity, promising outlandish returns, to people that are not educated in the business segment such opportunity exists
Step 3: collect tens of millions of dollars (not sure the exact numbers here) and shake a lot of hands and keep promising amazing returns
Step 4: pay yourself, family, and associates millions of dollars for being “managers” of the “investment”. In short, make yourself rich before any investment dollars are returned to investors.
Step 5: tell investors times are tough so the opportunities timeframe has been pushed out and returns will be delayed.
Step 6: fall off the face of the planet for multiple years and not respond to previous investors inquiries all while still paying yourself and associates for “managing” the “investment”
Step 7: slowly work on the opportunity, but donÂ’t really put any effort into it, so you cannot be charged with fraud.
Step 8: hire your own companies and families companies to build the project promised to investors without competitively bidding out work to make even more money.
Step 9: continue to collect “management” fees, slowly work on project to avoid legal problems, refuse to update original investors, and hire yourself and family to work on the project.
Step 10: ???????
If you canÂ’t see how real estate projects like this are a scam I donÂ’t know what to tell you. The people who started this did so not as an investment opportunity but as a get rich quick scheme and have continued to leech off the project for years and years and will continue to do so for years to come. These people are millionaires simply by fucking gullible people over and taking their money under false pretences.