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Updated almost 8 years ago,
Rich Dad Education scam Gregory Downing presented in Houston, TX
Have you been scammed into worthless Rich Dad Education advanced courses in Houston? I was scammed by Gregory Downing and have been in a two year process to recover funds with my attorney. This is will all come to a head in January. My attorney has asked me to gather witnesses who have been through a similar experience with this company and/or speaker. If you are in the Houston area and are willing to be a witness because they scammed you out of much or little, your help would be much appreciated.
This is how my experience went...
1) Start by listening to Kiyosaki's books for free on Youtube. Let the fake financial advice/stories of success start to soften up your brain until you are ready for more brainwashing at a Rich Dad seminar.
2) Notice a free real estate workshop hosted by Rich Dad Education. Robert's mug was posted all over the advertisement to create the aura of legitimacy. I mean, after all, surely a financial author wouldn't sell his imagine to promote a scam company, or would he (http://ethanvanderbuilt.com/2014/01/20/robert-kiyo...)? Attend and hear rags-to-riches story from speaker "Melvin" who gave high-pressure sales pitch and promised that a 3-day real estate training would give us the information that we needed to start doing real estate deals. Spent $299.00 on pitched 3-day real estate training and $150.00 on pitched stock training.
3) Met train-wreck, family-impoverishing, real estate conman Gregory Downing who claimed we would have our training paid off after our first three mobile home deals and that we would make a deal every 30 days if we sign up for advanced training and work just two hours a day. He gave us a credit card "training" so we would understand that credit cards are actually "investment cards" and urged us to use them for our advanced training courses. But first, he gave us "homework" which was to call our credit cards and tell them that we earn 50K more than we actually do so we can get credit increases to be able to purchase the classes. I was billed 23K for advanced courses. Greg asked us to bring our bank account information and 401K information. He personally looked at my finances and retirement and saw that I live paycheck to paycheck and most months dip into the red a little. He recommended I go for the more expensive training at 23K instead of the 12K training in order to have a mentor (or more likely, so his commission would be higher irregardless of how it would damage me, my wife, and three dependent children). I missed the mobile home part of the training while I was paying for the advanced course, not that it would have helped to pay off the advanced course as promised. Anyway, I got too busy with my job and kids the following week and when I finally evaluated the product and realized it as absolute crap, I was 8 days too late to cancel.
I called the Rich Dad Education company to complain about Greg's lies/false promises as well as the poor quality of materials. I was told that I might as well invest my money in their company because 23K wasn't enough to retire on anyway.
If you tell me I was a fool, I will readily agree with you. Sadly, Rich Dad Education and Robert's books were my intro. to real estate investing. I couldn't have started with worse materials. Neither were helpful and both were designed to part people from their money, not to teach real investors.
If RD scammed you and you live in the Houston area, will you consider being a witness to your experience when my attorney faces their attorney before an arbitrator soon? If so, I can be reached at [email protected].
Ryan
P.S. By the way, please don't buy any courses from other Rich Dad Education students who are trying to sell a course they have left on this website. They know they have been scammed and they are trying to recoup their huge loss by shedding one of their horrible courses.