Tax Liens & Mortgage Notes
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated about 1 month ago, 10/19/2024
Norada Capital Management notes
There were some old threads, so I'm starting a new one. Any have any experience investing in the Norada notes?
Yes and Yes, I do have experience investing in Norada. Feel free to reach out to me personally.
Quote from @Ryan Taylor:
Quote from @Chris Seveney:
@Craig Salzer
I do not. I have seen they are offering something like 16% returns. That is typically 2x most note funds. I believe the sponsor is here on BP as well.
Craig,
I took a quick stroll on 7e Note Investment site. I like it! Question, are the offerings on said site for accredited investors only? I have a couple of short term first trust deeds ready to mature and need to re-deploy this capital. I am NOT accredited (a stipulation I think is BS BTW). I do love the passive (mailbox money) side of this type of investing. Do you feel, given the current state of the market, the risk is increasing in this type of investing? The notes I have, have performed very well, and would love to stay on that train. Any thoughts/guidance would be greatly appreciated.
Quote from @Travis Hibbard:
I've recently decided to invest in Norada notes through my SDIRA. It is my 2nd time investing in notes but my first with Norada and through an SDIRA. So far so good and Marco who runs Norada has been extremely punctual and helpful as i've navigated next steps. I will keep everyone posted as I move forward but so far everything has been a 10/10!
Hey Travis, like to chat with you, if you are available about your experience through SDIRA.
I received a note today that Norada was "temporarily" stopping payments. Not a good sign.
@Craig Salzer
Another post about this on BP you can search.
- Chris Seveney
Quote from @Alex Tank:
Quote from @Ian M.:
It's not backed by any asset. Its solely a promissory note. I called to find that out myself a few weeks ago and that was the answer I got.
Yes and Yes, I do have experience investing in Norada. Feel free to reach out to me personally.
Sent you a PM
Quote from @Craig Salzer:
There were some old threads, so I'm starting a new one. Any have any experience investing in the Norada notes?
DANGER !!! ALERT !!! CAREFUL !!! STOP AND READ THIS FOR YOUR OWN SAKE !!
Marco Santorelli and Norada are looking for new investors when they just suspended interest payments until further notice without any resumption date. In 2023 before I invested any funds, each and every time that I spoke with their representatives, I asked as my FIRST question if Norada Capital Management had ever missed any interest or principal payments, and was always told the same thing by their representatives, that Norada had a perfect payment/reimbursement history.
The investors that have had these payments suspended have set-up a new Facebook page. Go and do a thorough investigation. The link is:
https://www.facebook.com/groups/1161232915077076
I have no reason to alert you of this danger other than honestly trying to help you avoid the trap that the rest of us fell into.
FOR YOUR OWN SAKE, DO NOT BELIEVE ANYTHING MARCO OR NORADA TELLS YOU UNLESS YOU SEE IT IN WRITING AND HAVE IT VERIFIED BY YOUR LAWYER.
Quote from @Alex Tank:
Yes and Yes, I do have experience investing in Norada. Feel free to reach out to me personally.
DANGER !!! ALERT !!! CAREFUL !!! STOP AND READ THIS FOR YOUR OWN SAKE !!
Marco Santorelli and Norada are looking for new investors when they just suspended interest payments until further notice without any resumption date. In 2023 before I invested any funds, each and every time that I spoke with their representatives, I asked as my FIRST question if Norada Capital Management had ever missed any interest or principal payments, and was always told the same thing by their representatives, that Norada had a perfect payment/reimbursement history.
The investors that have had these payments suspended have set-up a new Facebook page. Go and do a thorough investigation. The link is:
https://www.facebook.com/groups/1161232915077076
I have no reason to alert you of this danger other than honestly trying to help you avoid the trap that the rest of us fell into.
FOR YOUR OWN SAKE, DO NOT BELIEVE ANYTHING MARCO OR NORADA TELLS YOU UNLESS YOU SEE IT IN WRITING AND HAVE IT VERIFIED BY YOUR LAWYER.
Stay away from Norada Note. They miss to pay the small interest amount as of now. They are heading towards bankruptcy. As of July 1, they failed to pay the interest and sent me an email about conversion of note.
Another PONZI Scheme! I lost! Hope you don't.
Quote from @David Kanarek:
Quote from @Alex Tank:
Yes and Yes, I do have experience investing in Norada. Feel free to reach out to me personally.
DANGER !!! ALERT !!! CAREFUL !!! STOP AND READ THIS FOR YOUR OWN SAKE !!
Marco Santorelli and Norada are looking for new investors when they just suspended interest payments until further notice without any resumption date. In 2023 before I invested any funds, each and every time that I spoke with their representatives, I asked as my FIRST question if Norada Capital Management had ever missed any interest or principal payments, and was always told the same thing by their representatives, that Norada had a perfect payment/reimbursement history.
The investors that have had these payments suspended have set-up a new Facebook page. Go and do a thorough investigation. The link is:
https://www.facebook.com/groups/1161232915077076
I have no reason to alert you of this danger other than honestly trying to help you avoid the trap that the rest of us fell into.
FOR YOUR OWN SAKE, DO NOT BELIEVE ANYTHING MARCO OR NORADA TELLS YOU UNLESS YOU SEE IT IN WRITING AND HAVE IT VERIFIED BY YOUR LAWYER.
PONZI Scheme from NORADA!
Stay away from Norada Note. They miss to pay the small interest amount as of now. They are heading towards bankruptcy. As of July 1, they failed to pay the interest and sent me an email about conversion of note.
Another PONZI Scheme! I lost! Hope you don't.
Please help report to Financial Fraud ASAP before he relocate his personal asset:
https://www.justice.gov/criminal/criminal-fraud/report-fraud
#2 Innovative Strategies Contributor
- Lender
- The Woodlands, TX
- 8,492
- Votes |
- 5,521
- Posts
#2 Innovative Strategies Contributor
- Lender
- The Woodlands, TX
I don’t know if the subject sponsor committed fraud or not. Likewise I don’t know if the subject offering was a Ponzi scheme or not. And I understand the frustration, disappointment, and even the anger of the posters who invested. BUT, please be aware of the following
Missing interest payments on a promissory note is not necessarily the result of a fraud, most often it is simply the results of a poorly performing business. When someone can’t pay their home mortgage payments it is not likely fraud, just a job loss or business loses.
Converting debt to equity if allowed by the operating agreement is not indicative of a Ponzi Scheme. A Ponzi Scheme is using new investor money contributions to capital to pay off old investors. While the “debt to equity” practice may not meet MY PERSONAL definition of “fair”, in and of itself it is not illegal, unethical, or fraudulent.
Truth is if the posters warning about the subject have accurately portrayed the specific situation, there is cause for concern. The concern as far as I could tell center around two specific areas (I’m not saying that any of this did happen, just that the posters reported it) . First, that unaccredited and unverified as accredited investors were allowed, or even encouraged to invest in what we are being told was a Reg D 506c offering, which requires verified accreditation status. Second, that their money was invested in highly speculative start up business deals that the sponsors had no background or expertise in. We have also been informed by posters that they were lied to and or mislead by salesman selling the offering.
The investors would be advised to pool together some capital to retain the services of an experienced securities law firm to do an analysis of whether they have cause for complain, cause for lawsuit, and reasonable chance of collection. Otherwise, this is just blowing off steam.
- Don Konipol
Quote from @Craig Salzer:
There were some old threads, so I'm starting a new one. Any have any experience investing in the Norada notes?
Norada Capital Management Fraud Report
Imagine how truly deplorable an investment opportunity is when the introduction, the three strongest points in the report to be explained, cannot even include guaranteed returns of up to 17% annually. That is how tragic this 12-year run of financial fraud appears to be as explained in this report on the Laguna Niguel, California based Norada Capital Management.
Several problematic findings arose when researching Norada Capital Management.
1. Longevity of the Scheme: According to Marco Santarelli, the Founder and CEO of both Norada Capital Management and Norada Real Estate Investment, the company began raising investor funds through promissory notes as early as 2012.2. Concealed CFO: Mr. Ron Fossum, Norada Capital Management’s cleverly concealed CFO, was barred by the SEC in 2018 for similar fraudulent activities to those he appears to be engaging in now at Norada Capital Management.3. Material Misrepresentations: Norada Capital Management's misleading claims include:a. The business plan to pay untenable returns is not untenable, it’s non-existent. The company’s claim to have relaunch failed big name retailers is complete fiction.b. The company’s cleverly concealed CFO was barred by the SEC in 2018 for a $20 million, 100 victim fraud. No investor would place their money with Norada Capital Management if they knew this material, omitted information about the CFO.c. Promissory loan notes are “secured” by Norada Capital Management where, in our taped call, is a $120 million-dollar public company with $70 million in owed loan notes to investors and $50 million in “equity” which is all a lie. d. The cumulative public image of Mr. Santarelli as an absolute industry expert (podcast, websites, press, social media advertisement) cause investors to have a false sense of security.
The company asserts that proceeds from investor funds, exchanged for loan notes with guaranteed annual returns, were used to purchase websites and customer lists of large, national retailers that filed for Chapter 7 in 2020 or 2021, which Mr. Santarelli allegedly purchased from a government auction from the bankruptcy trustee and relaunched online. In two detailed YouTube videos, Santarelli names each company and recounts fictional stories of his involvement in their successful through the online relaunching by Norada Capital Management. None of this never happened.
For a company with a 12-year lending history, Norada Capital Management has only one $4,000,000 Reg D filing from 2020, which appears inadequate considering a 2012 start date and almost four years since the last filing.
Santarelli also claims in the same YouTube video that Norada Capital Management has been making loans since 2012 with no default history, re-lending money received from investors and maintaining a perfect record over 12 years. More concerning is the new Florida-based entity, Themed STR Capital Fund, set to launch in 2025, for which Santarelli is a fund manager. This entity is currently raising funds from investors with promises of 82% returns.
Ron Fossum, dissatisfied with his simple, concealed role at Norada Capital Management, is also involved other business ventures, none of which appear to be legal. Accessible through a link in his Linked in profile is the Emergency Business Relief( Link ), which claims to have recovered “over $300 million for clients,” through various Covid-19 and other government programs. Law enforcement is now targeting third parties involved in “cooking the books” that “force by fraud” qualify clients for Covid-19 relief. And we are just beginning.
Norada Capital Management ( )
30251 Golden Lantern # E-261
Laguna Niguel, CA - 92677-5993
Professional poker players call it a “tell.” In financial fraud detection, the pitch by Norada Capital Management is our equivalent of a “tell”:
“So, here’s the deal. So for a limited time, a very limited time, and I’m thinking probably till the end of August, the last day of August being kind of the drop date, if you will. We are offering a 2% bonus on top of the existing pay structure or terms, which means that instead of 12% or 15% per year paid monthly, it will be 14% or 17% interest paid monthly on those promissory notes,” ( ).
Translation? Norada Capital Management and its President and Founder Marco Santarelli are so desperate to raise money that they have resorted to guaranteeing investors up to a 17% annual returns. According to the company:
“Norada Capital Management allows investors to invest in promissory notes. These notes start at $50,000 to over $200,000 and feature an annual interest rate of 12%-16.7%. The company offers promissory notes worth $50k, $100k, and $200k+, with annual interest rates ranging between 12% and 16.7% depending on the investment amount. These rates of return surpass what bank-provided bonds and stock dividends offer. Norada’s promissory notes generate predictable monthly passive income transferred to the investor’s funding account via ACH,” ( ).
Santarelli confirms these fixed, double digit returns in a detailed YouTube video presentation (Link, at 35:08). However, this is not the first time the company has offered over 17% annual returns. A post on the official Norada Capital Management website from 2022 (attached screenshots in addendum), boldly states the following:
“Norada Capital Management offers investors opportunities to invest in Promissory Notes with fixed rates of return ranging from 12% up to 17.5% per year,” ( Link ).
In explaining the use of proceeds from the promissory notes—specifically the entities Norada Capital Management, a private equity firm, supposedly lends to in order to generate these high annual rates, the company states that:
“Three of those five categories that our company invests in as a private equity firm include e-commerce-based businesses very lucrative area, especially if you’re in the right area of e-commerce. But e-commerce has been around for several decades now and continues to grow.”
In the lengthy “Marco Santarelli” YouTube videos, he explains that small business lending through promissory notes generates higher returns for investors than treasury notes, hard money lending, and real estate trust deed notes ( Link, at 29:42). If the potential investor is still not convinced, he states that since 2012,every loan note has been repaid, a better track record over 12 years than any lender in American business history.
Quote from @Craig Salzer:
I don't believe there is compounding. Norada pays you monthly interest on the note and a lump sum payment at the end.
Norada Capital Management Fraud Report
Imagine how truly deplorable an investment opportunity is when the introduction, the three strongest points in the report to be explained, cannot even include guaranteed returns of up to 17% annually. That is how tragic this 12-year run of financial fraud appears to be as explained in this report on the Laguna Niguel, California based Norada Capital Management.
Several problematic findings arose when researching Norada Capital Management.
1. Longevity of the Scheme: According to Marco Santarelli, the Founder and CEO of both Norada Capital Management and Norada Real Estate Investment, the company began raising investor funds through promissory notes as early as 2012.2. Concealed CFO: Mr. Ron Fossum, Norada Capital Management’s cleverly concealed CFO, was barred by the SEC in 2018 for similar fraudulent activities to those he appears to be engaging in now at Norada Capital Management.3. Material Misrepresentations: Norada Capital Management's misleading claims include:a. The business plan to pay untenable returns is not untenable, it’s non-existent. The company’s claim to have relaunch failed big name retailers is complete fiction.b. The company’s cleverly concealed CFO was barred by the SEC in 2018 for a $20 million, 100 victim fraud. No investor would place their money with Norada Capital Management if they knew this material, omitted information about the CFO.c. Promissory loan notes are “secured” by Norada Capital Management where, in our taped call, is a $120 million-dollar public company with $70 million in owed loan notes to investors and $50 million in “equity” which is all a lie. d. The cumulative public image of Mr. Santarelli as an absolute industry expert (podcast, websites, press, social media advertisement) cause investors to have a false sense of security.The company asserts that proceeds from investor funds, exchanged for loan notes with guaranteed annual returns, were used to purchase websites and customer lists of large, national retailers that filed for Chapter 7 in 2020 or 2021, which Mr. Santarelli allegedly purchased from a government auction from the bankruptcy trustee and relaunched online. In two detailed YouTube videos, Santarelli names each company and recounts fictional stories of his involvement in their successful through the online relaunching by Norada Capital Management. None of this never happened.
For a company with a 12-year lending history, Norada Capital Management has only one $4,000,000 Reg D filing from 2020, which appears inadequate considering a 2012 start date and almost four years since the last filing.
Santarelli also claims in the same YouTube video that Norada Capital Management has been making loans since 2012 with no default history, re-lending money received from investors and maintaining a perfect record over 12 years. More concerning is the new Florida-based entity, Themed STR Capital Fund, set to launch in 2025, for which Santarelli is a fund manager. This entity is currently raising funds from investors with promises of 82% returns.
Ron Fossum, dissatisfied with his simple, concealed role at Norada Capital Management, is also involved other business ventures, none of which appear to be legal. Accessible through a link in his Linked in profile is the Emergency Business Relief( Link ), which claims to have recovered “over $300 million for clients,” through various Covid-19 and other government programs. Law enforcement is now targeting third parties involved in “cooking the books” that “force by fraud” qualify clients for Covid-19 relief. And we are just beginning.
Norada Capital Management ( )
30251 Golden Lantern # E-261
Laguna Niguel, CA - 92677-5993
Professional poker players call it a “tell.” In financial fraud detection, the pitch by Norada Capital Management is our equivalent of a “tell”:
“So, here’s the deal. So for a limited time, a very limited time, and I’m thinking probably till the end of August, the last day of August being kind of the drop date, if you will. We are offering a 2% bonus on top of the existing pay structure or terms, which means that instead of 12% or 15% per year paid monthly, it will be 14% or 17% interest paid monthly on those promissory notes,” ( ).
Translation? Norada Capital Management and its President and Founder Marco Santarelli are so desperate to raise money that they have resorted to guaranteeing investors up to a 17% annual returns. According to the company:
“Norada Capital Management allows investors to invest in promissory notes. These notes start at $50,000 to over $200,000 and feature an annual interest rate of 12%-16.7%. The company offers promissory notes worth $50k, $100k, and $200k+, with annual interest rates ranging between 12% and 16.7% depending on the investment amount. These rates of return surpass what bank-provided bonds and stock dividends offer. Norada’s promissory notes generate predictable monthly passive income transferred to the investor’s funding account via ACH,” ( ).
Santarelli confirms these fixed, double digit returns in a detailed YouTube video presentation (Link, at 35:08). However, this is not the first time the company has offered over 17% annual returns. A post on the official Norada Capital Management website from 2022 (attached screenshots in addendum), boldly states the following:
“Norada Capital Management offers investors opportunities to invest in Promissory Notes with fixed rates of return ranging from 12% up to 17.5% per year,” ( Link ).
In explaining the use of proceeds from the promissory notes—specifically the entities Norada Capital Management, a private equity firm, supposedly lends to in order to generate these high annual rates, the company states that:
“Three of those five categories that our company invests in as a private equity firm include e-commerce-based businesses very lucrative area, especially if you’re in the right area of e-commerce. But e-commerce has been around for several decades now and continues to grow.”
In the lengthy “Marco Santarelli” YouTube videos, he explains that small business lending through promissory notes generates higher returns for investors than treasury notes, hard money lending, and real estate trust deed notes ( Link, at 29:42). If the potential investor is still not convinced, he states that since 2012,every loan note has been repaid, a better track record over 12 years than any lender in American business history.
#4 All Forums Contributor
- Lender
- Lake Oswego OR Summerlin, NV
- 61,677
- Votes |
- 41,872
- Posts
#4 All Forums Contributor
- Lender
- Lake Oswego OR Summerlin, NV
Quote from @David Kanarek:
Quote from @Craig Salzer:
I don't believe there is compounding. Norada pays you monthly interest on the note and a lump sum payment at the end.
Norada Capital Management Fraud Report
Imagine how truly deplorable an investment opportunity is when the introduction, the three strongest points in the report to be explained, cannot even include guaranteed returns of up to 17% annually. That is how tragic this 12-year run of financial fraud appears to be as explained in this report on the Laguna Niguel, California based Norada Capital Management.
Several problematic findings arose when researching Norada Capital Management.
1. Longevity of the Scheme: According to Marco Santarelli, the Founder and CEO of both Norada Capital Management and Norada Real Estate Investment, the company began raising investor funds through promissory notes as early as 2012.2. Concealed CFO: Mr. Ron Fossum, Norada Capital Management’s cleverly concealed CFO, was barred by the SEC in 2018 for similar fraudulent activities to those he appears to be engaging in now at Norada Capital Management.3. Material Misrepresentations: Norada Capital Management's misleading claims include:a. The business plan to pay untenable returns is not untenable, it’s non-existent. The company’s claim to have relaunch failed big name retailers is complete fiction.b. The company’s cleverly concealed CFO was barred by the SEC in 2018 for a $20 million, 100 victim fraud. No investor would place their money with Norada Capital Management if they knew this material, omitted information about the CFO.c. Promissory loan notes are “secured” by Norada Capital Management where, in our taped call, is a $120 million-dollar public company with $70 million in owed loan notes to investors and $50 million in “equity” which is all a lie. d. The cumulative public image of Mr. Santarelli as an absolute industry expert (podcast, websites, press, social media advertisement) cause investors to have a false sense of security.The company asserts that proceeds from investor funds, exchanged for loan notes with guaranteed annual returns, were used to purchase websites and customer lists of large, national retailers that filed for Chapter 7 in 2020 or 2021, which Mr. Santarelli allegedly purchased from a government auction from the bankruptcy trustee and relaunched online. In two detailed YouTube videos, Santarelli names each company and recounts fictional stories of his involvement in their successful through the online relaunching by Norada Capital Management. None of this never happened.
For a company with a 12-year lending history, Norada Capital Management has only one $4,000,000 Reg D filing from 2020, which appears inadequate considering a 2012 start date and almost four years since the last filing.
Santarelli also claims in the same YouTube video that Norada Capital Management has been making loans since 2012 with no default history, re-lending money received from investors and maintaining a perfect record over 12 years. More concerning is the new Florida-based entity, Themed STR Capital Fund, set to launch in 2025, for which Santarelli is a fund manager. This entity is currently raising funds from investors with promises of 82% returns.
Ron Fossum, dissatisfied with his simple, concealed role at Norada Capital Management, is also involved other business ventures, none of which appear to be legal. Accessible through a link in his Linked in profile is the Emergency Business Relief( Link ), which claims to have recovered “over $300 million for clients,” through various Covid-19 and other government programs. Law enforcement is now targeting third parties involved in “cooking the books” that “force by fraud” qualify clients for Covid-19 relief. And we are just beginning.
Norada Capital Management ( )
30251 Golden Lantern # E-261
Laguna Niguel, CA - 92677-5993
Professional poker players call it a “tell.” In financial fraud detection, the pitch by Norada Capital Management is our equivalent of a “tell”:
“So, here’s the deal. So for a limited time, a very limited time, and I’m thinking probably till the end of August, the last day of August being kind of the drop date, if you will. We are offering a 2% bonus on top of the existing pay structure or terms, which means that instead of 12% or 15% per year paid monthly, it will be 14% or 17% interest paid monthly on those promissory notes,” ( ).
Translation? Norada Capital Management and its President and Founder Marco Santarelli are so desperate to raise money that they have resorted to guaranteeing investors up to a 17% annual returns. According to the company:
“Norada Capital Management allows investors to invest in promissory notes. These notes start at $50,000 to over $200,000 and feature an annual interest rate of 12%-16.7%. The company offers promissory notes worth $50k, $100k, and $200k+, with annual interest rates ranging between 12% and 16.7% depending on the investment amount. These rates of return surpass what bank-provided bonds and stock dividends offer. Norada’s promissory notes generate predictable monthly passive income transferred to the investor’s funding account via ACH,” ( ).
Santarelli confirms these fixed, double digit returns in a detailed YouTube video presentation (Link, at 35:08). However, this is not the first time the company has offered over 17% annual returns. A post on the official Norada Capital Management website from 2022 (attached screenshots in addendum), boldly states the following:
“Norada Capital Management offers investors opportunities to invest in Promissory Notes with fixed rates of return ranging from 12% up to 17.5% per year,” ( Link ).
In explaining the use of proceeds from the promissory notes—specifically the entities Norada Capital Management, a private equity firm, supposedly lends to in order to generate these high annual rates, the company states that:
“Three of those five categories that our company invests in as a private equity firm include e-commerce-based businesses very lucrative area, especially if you’re in the right area of e-commerce. But e-commerce has been around for several decades now and continues to grow.”
In the lengthy “Marco Santarelli” YouTube videos, he explains that small business lending through promissory notes generates higher returns for investors than treasury notes, hard money lending, and real estate trust deed notes ( Link, at 29:42). If the potential investor is still not convinced, he states that since 2012,every loan note has been repaid, a better track record over 12 years than any lender in American business history.
Good research.. I think the main issue is believing that unsecured prom notes are Guaranteed. unless I saw the note and the note stated that ( which I highly doubt) the return of funds and payment of interest solely rests on the full faith and credit of what was invested in and the sponsor.. For Guarantee I think in the way David your thinking about Guarantee the only one out there is FDIC insured deposits with the full faith and credit of the US Gov. Even Banks go under as we have seen.. Just think of the GFC when the HUGE wall st companies went under. It happens.. This does not discount the fact that these notes have gone bad and then turned into equity.. But apparently whatever you signed allowed this to happen..
Myself having been in the HML space and basically lending money space. NO ONE is perfect myself included.. U may have a run of a few years.. But things happen.. for instance 2 years ago I had 3 of my borrowers die on me. So on those projects I had to take them over and I think at best we got principal back and on one or two might have lost a few grand.. It happens.. Even to Grade A RE paper there is a 2 to 3% default rate nationwide always has been..
What I am talking about speaks to the Notes themselves.. As for the marketing of the notes and the claim of lack of disclosure those are separate issues while serious for sure those issues when/if proven correct are not going to get your or any note investors money back.. ( which I hope is the goal of most note investors in this) those issue's are to put those folks basically out of business.. Which of course if this is proven out the way you line it out will and probably should happen..
I think this is a great cautionary tale to tell BP members.. One lesson is careful to be swayed by U tubes and claims . Two deep dive into what your really investing in and if you dont understand it ( which I believe a lot of these note investors did not) pay a good business attorney to review and comment on the offering.. Some business are started as frauds but I think most dont start that way and end up that way though because the sponsor has made these claims and will rob peter to pay paul instead of telling their investors hey we are not doing good .. I have seen that many times over the years..
Your helping a lot of BP members with these detailed accounts.. its unfortunate that it comes at investors expense but its a great learning tool for newer folks.
- Jay Hinrichs
- Podcast Guest on Show #222
Quote from @Craig Salzer:
There were some old threads, so I'm starting a new one. Any have any experience investing in the Norada notes?
Please see Facebook group:
Norada Capital Default Notice:
If you are one of the investors, please see Facebook page with agencies and links to file complaints !
Quote from @Craig Salzer:
There were some old threads, so I'm starting a new one. Any have any experience investing in the Norada
I was made aware this weekend by one of the investors on our Facebook group that Marco Santarelli on June 18th, 2024, held a "web seminar" again soliciting investors. This would be 2 days before he announced in his June 20th email (which I believe you have) that he was suspending payments to hundreds of investors because of financial problems.He did not disclose anywhere in the webinar (48 hours before the email) the difficulties that his business was experiencing which was laid out in the email 2 days later. This would appear a blatant disregard for disclosing to would be Investors information that would have been needed to make an informed investment decision.Perhaps you already have this YouTube video. I was sent the link yesterday and here it is:https://m.youtube.com/watch?v=8QPipxwcGMg&feature=youtu.bePlease let me know if I can be of further assistance.
Quote from @Craig Salzer:
I don't believe there is compounding. Norada pays you monthly interest on the note and a lump sum payment at the end.
#4 All Forums Contributor
- Lender
- Lake Oswego OR Summerlin, NV
- 61,677
- Votes |
- 41,872
- Posts
#4 All Forums Contributor
- Lender
- Lake Oswego OR Summerlin, NV
Quote from @David Kanarek:
Quote from @Craig Salzer:
There were some old threads, so I'm starting a new one. Any have any experience investing in the Norada
David was the webinar related to the exact same company that issued the notes to you ?
or was this a new company and a new offering ?
- Jay Hinrichs
- Podcast Guest on Show #222
I lost my money too in Norada Note. It is PONZI scheme. I am filing a suit in Orange County Superior Court and along with reporting to following government entity.
If you don't try, you may not get anything. Be part of the "Class Action!"
Report here:
1. Federal Trade Commission (FTC):
- https://reportfraud.ftc.gov/
2. Securities and Exchange Commission (SEC):
- https://www.sec.gov/complaint/select.shtml
3. Consumer Financial Protection Bureau (CFPB):
- https://www.consumerfinance.gov/complaint/
4. Internal Revenue Service (IRS):
- https://www.irs.gov/individuals/how-do-you-report-suspected-...
5. Federal Bureau of Investigation (FBI):
- https://www.fbi.gov/investigate/white-collar-crime
6. U.S. Postal Inspection Service:
- https://www.uspis.gov/report
7. State Attorney General's Office:
- Visit your state's Attorney General's website for more information.
DOJ, FBI, and AG will decide that there was a manipulation, misrepresentation, misleading information over the years and have created Ponzi Scheme same as Bernie Madoff did.
#4 All Forums Contributor
- Lender
- Lake Oswego OR Summerlin, NV
- 61,677
- Votes |
- 41,872
- Posts
#4 All Forums Contributor
- Lender
- Lake Oswego OR Summerlin, NV
Quote from @Alex Tank:
I lost my money too in Norada Note. It is PONZI scheme. I am filing a suit in Orange County Superior Court and along with reporting to following government entity.
If you don't try, you may not get anything. Be part of the "Class Action!"
Report here:
1. Federal Trade Commission (FTC):
- https://reportfraud.ftc.gov/
2. Securities and Exchange Commission (SEC):
- https://www.sec.gov/complaint/select.shtml
3. Consumer Financial Protection Bureau (CFPB):
- https://www.consumerfinance.gov/complaint/
4. Internal Revenue Service (IRS):
- https://www.irs.gov/individuals/how-do-you-report-suspected-...
5. Federal Bureau of Investigation (FBI):
- https://www.fbi.gov/investigate/white-collar-crime
6. U.S. Postal Inspection Service:
- https://www.uspis.gov/report
7. State Attorney General's Office:
- Visit your state's Attorney General's website for more information.
DOJ, FBI, and AG will decide that there was a manipulation, misrepresentation, misleading information over the years and have created Ponzi Scheme same as Bernie Madoff did.
been around a few of these by the time the alphabet agencies get into any of this will be years from now.. Hopefully Norada will right the ship and start redeeming notes quicker than years from now .. Also putting the company under and putting the principals in Jail which it appears most of you want to do.. what does that solve for your personal financial situation ?
But of course its your right. But seems to me to at least give them some months to come up with a plan and start paying then if that does not happen you can slam dunk them. ???
- Jay Hinrichs
- Podcast Guest on Show #222
#2 Innovative Strategies Contributor
- Lender
- The Woodlands, TX
- 8,492
- Votes |
- 5,521
- Posts
#2 Innovative Strategies Contributor
- Lender
- The Woodlands, TX
I DO NOT know, and as of now have seen NO proof that the subject is a fraud, let alone a “Ponzi” type fraud. Maybe it is, or MAYBE the investments made were just plain UNSUCCESSFUL. But the posters who invested here are uniformly very quick to claim what they invested in was a fraud. All the “evidence” they seem to have is that their investment stoped interest payments and the sponsors are still offering investments. Plus, a listing of all Federal agencies the posters can think of. And the posters unwavering belief that somehow these Feds are going to drop all investigations, prosecutions, politicking, taking coffee breaks, etc. and jump on their complaints putting the “full force” of the Federal government down on the subject company and its managers and feed them to the lions.
If the posters don’t have anything more than what they’ve indicated on BP, I’m afraid they are going to be very disappointed at the Feds response. And even IF there are violations leading to enforcement, the most common type of enforcement action in these violations is that the accused doesn’t admit to any wrongdoing but agrees to never do it again, LOL. Any restitution is improbable. In fact if it is a Ponzi scheme than there’s precedent for the government to demand the return of funds paid out to investors over a certain amount that are declared to be from the investment of newer investors. Although almost no possibility of happening with a situation this small, it’s exactly what happened in the Bernie Madoff fraud.
Now, I’m sorry that the posters lost money. But you know for some people with rather large egos, it’s a lot easier for them to claim they were defrauded then to admit THEY made a bad investment.
- Don Konipol
#4 All Forums Contributor
- Lender
- Lake Oswego OR Summerlin, NV
- 61,677
- Votes |
- 41,872
- Posts
#4 All Forums Contributor
- Lender
- Lake Oswego OR Summerlin, NV
Quote from @Don Konipol:
I DO NOT know, and as of now have seen NO proof that the subject is a fraud, let alone a “Ponzi” type fraud. Maybe it is, or MAYBE the investments made were just plain UNSUCCESSFUL. But the posters who invested here are uniformly very quick to claim what they invested in was a fraud. All the “evidence” they seem to have is that their investment stoped interest payments and the sponsors are still offering investments. Plus, a listing of all Federal agencies the posters can think of. And the posters unwavering belief that somehow these Feds are going to drop all investigations, prosecutions, politicking, taking coffee breaks, etc. and jump on their complaints putting the “full force” of the Federal government down on the subject company and its managers and feed them to the lions.
If the posters don’t have anything more than what they’ve indicated on BP, I’m afraid they are going to be very disappointed at the Feds response. And even IF there are violations leading to enforcement, the most common type of enforcement action in these violations is that the accused doesn’t admit to any wrongdoing but agrees to never do it again, LOL. Any restitution is improbable. In fact if it is a Ponzi scheme than there’s precedent for the government to demand the return of funds paid out to investors over a certain amount that are declared to be from the investment of newer investors. Although almost no possibility of happening with a situation this small, it’s exactly what happened in the Bernie Madoff fraud.
Now, I’m sorry that the posters lost money. But you know for some people with rather large egos, it’s a lot easier for them to claim they were defrauded then to admit THEY made a bad investment.
And they have not lost any money yet.. And civil litigation which some have threatened same thing they will be talking about this sometime about 2 years or more from now as as it winds through that process.. U get a few of these folks that are influencers and then you get the herd mentality..
- Jay Hinrichs
- Podcast Guest on Show #222
As someone who actually invested in these notes - perhaps too much as they comprise almost 15% of my investable assets - I am also worried about where this is going, and kicking myself for making a decision based largely on reputation with only a cursory review of what I was signing up to. All that being said, there seems to be rather over-the-top and ill-informed postings regarding converting these notes to equity. Yes, actively asking for investments on July 18th and revealing suspension of payments on July 20 seems a bit odd and poorly done. But that is a far cry from all the "Ponzi" and "Madoff" nonsense being thrown around. I, like all other investors, will be tracking this closely and if there is any evidence that Norada did anything underhanded, I will be aggressively pursuing them as anyone would. Until that time, I am assuming that I am dealing with a reputable firm that is making the best of a bad situation. I have 3 or 4 similar investments that fall into this same situation (muli-family syndications, etc.), so I don't think that suspending payments is unusual in this economic climate, nor by itself an indication of malfeasance. Keeping myself informed and fingers crossed, as that feels like about all I can do at this point in time.