Beware of Norada Capital: Caveat Emptor My Fellow Small Investors !!!

[David Kanarek]

In 2023, I invested in some Norada Capital Management 7 year Promissory Notes and last week less than one year after signing the last note, I receive a "form" email addressed to "Valued Investor", dated June 20th, 2024 from Marco Santarelli, who signed the letter as CEO & founder, that interest payments were being suspended 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 Capital Management had a perfect payment/reimbursement history.

One week later, after writing their current investors that they are suspending interest payments, they are still seeking new investors for investments but do not inform the new potential investors that they have suspended interest payments. (see attachment)

Before you invest, please feel free to contact me and I will be happy to furnish all of the documentation of this episode, but in the meantime don't trust anything that is not in writing and don't sign any document that allows them to stop paying the interest and/or principal that is owed for any reason.

As I am currently preparing a report for the BBB, the CFPB and the FCC, I would also ask if anyone else has had a similar experience; I feel like David vs. Goliath so please let's work together to see what can be done to have them resume interest payments. And, like me, please leave all the reviews you can on all the web sites you can find about your experience so that other small investors have this information about Marco Santarelli and Norada Capital Management. Thank you.

[Jay Hinrichs]

its your right of course to go nuclear.  HOwever keep in mind ALOT of deals are not working today.

Just read the threads on all the syndication that have stopped interest payments.. or MF syndication deals that have been lost to foreclosure and the investors 100% wiped out and also have to repay IRS for depreciation recapture..

this stuff happens this is not some Huge deal that only Norada is experiencing its running right through the industry right now.

Its not illegal to have a business fail.. Also past performance from any investment is not an guarantee of future results as your basically alluding to.

U needed to be an accredited investor to invest in those deals and I am sure there was plenty of disclosure in the documents outlining the risks .. and one risk was to lose all your money.. but you invested anyway.. and now that its not working the blame game starts.