Leader of Real Estate Investment Firm Admits Role in $658 Million Ponzi Scheme

[Bruce D. Kowal]

Leader of Real Estate Investment Firm Admits Role in $658 Million Ponzi Scheme and Multimillion-Dollar Tax Evasion Conspiracy

Anyone heard of these guys? National Realty Investment Advisors?  He went for the whole prize:  Ponzi scheme plus tax evasion.

[Jay Hinrichs]

Quote from @Chris Seveney:

@Melanie P.

I can name 3 companies right now that are not just bad deals but should end the sponsors in prison - I know investors in each and every one has filed complaints etc. And each have said they never get anyone from the state (banking / securities division) to call them back.

Two are actually sec qualified offerings and also no replies from the sec

It’s unfortunate that it appears there are a lot of bad actors who will get away with it. In many instances like this one - by the time it gets investigated damage is already done

I love these articles not for the fact investors are getting abused.. but the statements about lavish lifestyle  fancy dinners etc etc.. every single white collar litigation or criminal complaint has that exact same language.. and now you know why the Mafia guys just lived in some plain Jane home and maybe drove a caddy and ate at a low end restaurant LOL.  
All these folks these days bragging on their Instagram and Facebook showing their nice houses their latest car constantly posting their vacations etc etc.. All that is going to be used against them if things turtle up IE a water landing I think as Chris has stated as some of the high profile syndicators are having some issues but keep posting about their lifestyles I would personally not be doing that It just pisses off investors who are not getting their distributions or there are Cash calls right ??