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Updated 6 days ago on . Most recent reply
Beware of Norada Capital: Caveat Emptor My Fellow Small Investors !!!
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.
Most Popular Reply

It is absolutely correct that that all investment has risk, and Norada is no exception. But Norada was pushing their Promissory notes and touting the company as doing very well in there webcast on 6/11/24 and 6/18/24, actively encouraging viewers to use their IRA to invest. They sent out the email suspending distribution on 6/20/24. To quote Marco, "this decision was not made lightly and comes after thorough deliberation and analysis of our current financial position." So the company financial position was known, so while you are deliberation with knowledge of "our current Financial position," you don't continue to solicit new investors for your Promissory note and continue to state the company was in position of growth, doing so well your are considering a future listing on the stock exchange. During the webinar, someone ask specifically about the failure of the company, he reassured that not withstanding a " black swan event, like the recent pandemic," they should be fine( this is the webinar of 6/11/24), I am not aware of a black swan event occurring. Then 1 week later you then offer another Promissory note offering at an even higher interest rate(17% instead of 12-15% offered prior) with a now significantly higher minimum investment. there are what led persons to invest in the last few week before the the email was sent. Yes any investment can fail nothing is guaranteed but to not only conceal financial difficulty of the company, but to knowing convey the opposite, to entice investors to invest, that unethical and possible illegal