PEP fund with Lane Kawaoka

[Account Closed]

Has anyone else invested with this guy?  I got roped into this PEP fund he was advertising by a friend who had invested with him before.  The fund was advertised as a boring "preferred equity" fund that pays 10% a year (or something along those lines).  So I took money I was saving for a down payment and went in with this guy.  They sent out an email last Friday saying they are stopping distributions.  The email was replete with grammatical and spelling mistakes too for added professionalism.  Plus they sent out late Friday afternoon which always spells "disaster."  Anyone familiar with this?  Now they won't respond to my emails or calls of course.  Lane sent out a form email which he probably sends out to all his investors.  Can't believe I fell for this.  The email advertising this deal literally has a "pyramid" drawing in it.