Norada Capital Management suspending payments

[Paula Impala]

I invested in Norada Capital Management and was coming here to connect with others who have invested. Did not receive my payment from Norada this month (June) and just received the following notification in my email.

Any thoughts or recommendations from fellow investors.  Thank you in advance for any advice or insight.

Dear Valued Investor,

I hope you are well. As a lender (aka “Maker”) to Norada, you are a valued member of the Norada family.
The purpose of this correspondence is to provide you with an update on the repayment under the terms of the promissory note (“Note”) as an obligation of Norada Capital Management, LLC (“Norada”).
As with all businesses, Norada is subject to market factors that could impact its ability to make payments. Due to current market conditions and unforeseen financial challenges, we have decided to temporarily suspend distribution payments. This decision was not made lightly and comes after thorough deliberation and analysis of our current financial position.
This requires us to exercise our right to convert your Note and issue equity (aka membership interests) in Norada. You will recall that your Note allows Norada to convert the outstanding balance owed into equity and that it can redeem that equity in the future by repayment of the Note principal in full. There is nothing required by you related to your Note being converted. It happens automatically upon notice being sent.
As such, this email will provide you notice that Norada has chosen to exercise its right under the Note §6 to issue equity to you in Norada. Your equity is valued at the unpaid face value of the Note plus any accrued but unpaid interest. We expect to be in a position to redeem your interests in short order, and we will keep you posted, as always, on any developments in this regard.

We understand the importance of distributions to our investors and recognize the impact this decision may have on your financial planning. Please be assured that this suspension is temporary. We are committed to resuming regular distributions as soon as our financial situation stabilizes and improves.

Our primary goal is to ensure the long-term stability and sustainability of our business. By temporarily halting distributions, we can preserve capital, manage our resources more effectively, and invest in key areas that will drive future growth and profitability.

In the interim, we are taking strategic steps to strengthen our financial health, including cost-reduction measures, revenue-generating initiatives, and debt restructuring options. Our management team is dedicated to navigating through these challenges and emerging stronger.
We greatly appreciate your understanding and patience during this time. We remain committed to transparency and will keep you informed of any significant developments. If you have any questions or need further clarification, please feel free to contact me directly. (I will do my best to reply to your email in a timely manner.)
Thank you for your continued trust and support.
Sincerely,

Marco SantarelliFounder & CEONorada Capital Management

[Henry Clark]

Quote from @Jay Hinrichs:

Quote from @Henry Clark:

Dropped off at about page 5 a few days ago.  Don’t want to read thru the rest.  Could one of you that actually invested in this product clarify the following. 

1.  The original investment was a bond?

2.  The underlying assets were not real estate or anything even associated with BP?

3.   The underlying assets were Broadway plays, crypto, masterminds, defunct brand names, etc??

4. Expected return was 15%?  I plugged that.  You put in the correct expected return.

5. A concern is whether your an accredited investor or not?

I’ll get to the legal, ethical, or business logic after the above is clarified and or expanded by an actual investor.  Thanks.

Morning Henry,

Investment was an unsecrured prom note issued by one of Norada's companies.

the purported companies that were invested in were not real estate related or BP related

your point 3 is correct.

Notes were written at 12 to 17% interest only with payments due monthly and terms up to 7 years i believe.

yes there are those who posted who said they were not Accredited investors and they let the sales agents for Norada know that but were encouraged to invest anyway.

That sums it up from what I have seen posted.. In addition this fire storm started when payments stopped or payments were returned to the bank NSF. And then a Memo went out to the investors stating the Prom note they invested in gives Norada the right to cancel it and move the investors into an Equity position in the Company pro rata to their dollar amount invested.

 Thanks @Jay Hinrichs

[Henry Clark]

Based on the above.

1. Investors of these bonds recommend you get off BP as far as discussing this topic.  We are the wrong forum for this topic.  The more energy you put here is less energy put towards resolution.  This is a detailed topic. No worthwhile discussion can occur without copies of all documents being supplied.  For
 example I have no problem a company seeking further funding while they are going down a rat hole.  Even if you supplied all of the info, even though I think  I’m a great Controller and CFO, I would give 2cents for my legal thoughts.

2.  Compassion.  I have none for you.  I have lost 25% of my wealth at one time due to the ego of the President of the company I invested in.  Plus my greed.  
3.  As a Controller and CFO I would recommend you take action to lock down the accounts and value of these assets.  Especially the crypto and the Broadway revenue if any.  The defunct brand names
 hold only the future value your willing to put into them.  The mastermind investments if your pissed and want to Cause pain I would Shut them down.  If you want any potential value out of them let them continue but have the proceeds garnered.  But I would think the Masterminds would drift away.  

Any future investments of this type just send the money to me.   Don’t care if you’re an accredited investor or not.  

As I tell any of the self storage investors I talk with.  Always calculate the cost of failure.  Do your risk reward analysis.  

Start small and Make Your Big Mistakes Early.  

[Steven Grant]

I am skeptical that securities law would allow the conversion of a note to happen automatically upon notice rather than through a more specific legal and accounting process. If securities were created there should be some evidence of the security and the ownership as well. I doubt whether such a notice would be legally sufficient to be evidence of the newly created ownership in equity.

[Henry Clark]

Not that this Post hasn’t been emotionally informative but do you note the BP ad two spots above. Coming soon Syndication ???? Module.  I read thru and found the last paragraph the most interesting.  

I think doing an approach on Syndications is great.  But what I’m looking forward to is how BP controls it not getting out of hand and turning into a neighborhood Facebook page.  How people will grade or communicate performance of their investments in syndications.  Virtually every Syndication post I have read the underlying issue is their Debt structure did not match their investment timeline.  Which the investors doing due diligence should have realized. 

But the votes will be based on poor communication, call for funds, preferred issuances, etc.  

[Michael P.]

Ironically people googling Marcos credibility will end up in this thread and therefore cancel their decision to join his mastermind and therefore cause further pain to the value of this equity you are now an owner of. 

[Dave Hagen]

Quote from @Dewayne C.:

Thank you I owe on most of those 32 properties. I do have positive cash flow. But it will take me a good while to get back my wife’s money. I’m 72. Not a lot of time left for me to catch up. 

Hey, hey, hey... Enough negativity on this thread. ;)

I plan on living to at least 100, and making my ex totally jealous.

Actually, I'll just be happy if she continues to leave me alone. lol

Hopefully you have many years ahead, and lesson learned, more profitable.

Don't make yourself sick with misery. What's past is past. Good luck in the future.

[Edward Condon]

@Chris Seveney
I saw your post re: "faux endorsements" by name-dropping.  A related deception is the bogus use of the word "partner".  As in, "We have partnered with Apple."  So you bought a phone, big whoop.

[Dewayne C.]

I listed to several podcast that advertised Norada. I called the number and Nate called me back. 

[Chris Seveney]

Quote from @Henry Clark:

Based on the above.

1. Investors of these bonds recommend you get off BP as far as discussing this topic.  We are the wrong forum for this topic.  The more energy you put here is less energy put towards resolution.  This is a detailed topic. No worthwhile discussion can occur without copies of all documents being supplied.  For
 example I have no problem a company seeking further funding while they are going down a rat hole.  Even if you supplied all of the info, even though I think  I’m a great Controller and CFO, I would give 2cents for my legal thoughts.

2.  Compassion.  I have none for you.  I have lost 25% of my wealth at one time due to the ego of the President of the company I invested in.  Plus my greed.  
3.  As a Controller and CFO I would recommend you take action to lock down the accounts and value of these assets.  Especially the crypto and the Broadway revenue if any.  The defunct brand names
 hold only the future value your willing to put into them.  The mastermind investments if your pissed and want to Cause pain I would Shut them down.  If you want any potential value out of them let them continue but have the proceeds garnered.  But I would think the Masterminds would drift away.  

Any future investments of this type just send the money to me.   Don’t care if you’re an accredited investor or not.  

As I tell any of the self storage investors I talk with.  Always calculate the cost of failure.  Do your risk reward analysis.  

Start small and Make Your Big Mistakes Early.  

 I also do not believe some of the posts on this forum. A simple search for what some people are stating appear to be false about their dealings and interactions with the sponsor. 

If people are not being honest, it very difficult to get real information vs fake news and to get the real story. Not sure if doing it for attention or what not, but it is not helping by spreading false rumors.

[Ronnie Black]

It has been almost 30 days since we received the email notice about the note conversion to shares, rather than paying monthly interest payments. Has any investor received any updates from Marco regarding when (if) they will be able to continue payments or if they are making progress, etc?

[Jay Hinrichs]

Quote from @Ronnie Black:

It has been almost 30 days since we received the email notice about the note conversion to shares, rather than paying monthly interest payments. Has any investor received any updates from Marco regarding when (if) they will be able to continue payments or if they are making progress, etc?

if the dollar amounts raise and based on the interest rates the notes are at the burn rate is over 1 mil a month.. so IMHO there will be no future interest payments and a work out in in progress. And I certainly hope for all the investors and for Marcos sake he is allowed to go forward with a work out.. And not put out of business..

[Ronnie Black]

Thanks Jay, Marco has stated they would be transparent, but transparancy requires giving up details of what went wrong and some details of the plan forward. Neither of which has been disclosed. I've always found the folks that run these kind of investments to be superb communicators up until the instant they start having problems.  I am hoping Marco will be the exception.

[Jay Hinrichs]

Quote from @Ronnie Black:

Thanks Jay, Marco has stated they would be transparent, but transparancy requires giving up details of what went wrong and some details of the plan forward. Neither of which has been disclosed. I've always found the folks that run these kind of investments to be superb communicators up until the instant they start having problems.  I am hoping Marco will be the exception.

ya me to.. however I suspect he has some complicated situations and it may take more than 30 days to come up with something they can live with.. but if I was him I would be sending out an e mail once a week .. even if it was to say I have not forgotten and we are still here and working on it.. I would also surmise they don't want to send out something that they cant stand behind or execute on realistically.

I agree with Syndication or any pooled investment customer care and information is many times lacking big time.. And then folks get really upset and take to the airwaves.. I saw this with Realty Shares.. I was one of the first if not the first investor that put an investment on that Site back in the day.. I met with them in person they were working out of an incubator space in Silicon valley it was right out of the TV show.. Smart guys knew how to set it up But it grew so fast and so wide they simply could not manage it all on many levels.. In my mind lack of communication or too slow of communication is just common with these types of investments with many companies..

But if we put on Norada's hat you got to figure they are getting bombarded with Hey were is my payment.. Hey I want my money back now. Hey your all crooks. Hey we are going to sue you. Hey we are filing complaints with SEC FBI and anyone else who will listen.. Hey we are going to flame you big time on Social media..  So that's a lot to have to deal with while your trying to come up with a plan and be transparent.. This is me playing devils advocate of course. And I have no investment with the company.

[Lindsie Akers]

Quote from @Jon P.:

Lastly, I believe the web of involvement extends to many other financial parties as well.  It will be interesting to see how all this plays out during an investigation, but I sure hope that the money can be followed for the investors' sake that were damaged here.

I've also been made aware that a company, Tardus Wealth Strategies, who "coaches investors on financial independence in 10 years or less" was heavily promoting the Norada fund to unaccredited investors and was also heavily promoting Ron Fossum.  It sounds like there was multiple webinars conducted by Ron Fossum and Marco supported by Tardus to hundreds of investors that also invested heavily in the Norada fund.  I believe there are many groups that helped promote the Norada fund without doing any preliminary research on what the investments entailed or the criminal history of the people involved putting together the "investment opportunity."  I think this is something bigger than many of us realize, but this is just the beginning of the house of cards.  It appears Norada has been sending out unaudited balance sheets to investors asking about their financials that shows over $100M valuation in these seemingly bankrupt businesses they invested in.

Tardus is a financial education company that does NOT recommend specific investments. Neither Tardus nor our coaches accept commissions from vendors. We teach an “investment product agnostic” strategy, focusing on educating investors on performing due diligence, establishing their own risk tolerance, and choosing their own investments. Understanding the risks associated with any investment, being prepared for the worst possible outcome, and having a plan for when an investment doesn't perform as expected is essential. Our primary objective as coaches is to help clients ask the right questions, develop the right criteria, and identify potential red flags.

[Jay Hinrichs]

Quote from @Lindsie Akers:

Quote from @Jon P.:

Lastly, I believe the web of involvement extends to many other financial parties as well.  It will be interesting to see how all this plays out during an investigation, but I sure hope that the money can be followed for the investors' sake that were damaged here.

I've also been made aware that a company, Tardus Wealth Strategies, who "coaches investors on financial independence in 10 years or less" was heavily promoting the Norada fund to unaccredited investors and was also heavily promoting Ron Fossum.  It sounds like there was multiple webinars conducted by Ron Fossum and Marco supported by Tardus to hundreds of investors that also invested heavily in the Norada fund.  I believe there are many groups that helped promote the Norada fund without doing any preliminary research on what the investments entailed or the criminal history of the people involved putting together the "investment opportunity."  I think this is something bigger than many of us realize, but this is just the beginning of the house of cards.  It appears Norada has been sending out unaudited balance sheets to investors asking about their financials that shows over $100M valuation in these seemingly bankrupt businesses they invested in.

Tardus is a financial education company that does NOT recommend specific investments. Neither Tardus nor our coaches accept commissions from vendors. We teach an “investment product agnostic” strategy, focusing on educating investors on performing due diligence, establishing their own risk tolerance, and choosing their own investments. Understanding the risks associated with any investment, being prepared for the worst possible outcome, and having a plan for when an investment doesn't perform as expected is essential. Our primary objective as coaches is to help clients ask the right questions, develop the right criteria, and identify potential red flags.

I wonder if Tardus spell out the Risk Associated with unsecured prom notes like you talking about in your coaching.. many of these folks say they learned of Norada through Tardus and then when they post they simply do not have a grasp of what they invested in.. So how did your coaching help these investors what is the value of Tardus then ?

[Lindsie Akers]

Quote from @Jay Hinrichs:

Quote from @Lindsie Akers:

Quote from @Jon P.:

Lastly, I believe the web of involvement extends to many other financial parties as well.  It will be interesting to see how all this plays out during an investigation, but I sure hope that the money can be followed for the investors' sake that were damaged here.

I've also been made aware that a company, Tardus Wealth Strategies, who "coaches investors on financial independence in 10 years or less" was heavily promoting the Norada fund to unaccredited investors and was also heavily promoting Ron Fossum.  It sounds like there was multiple webinars conducted by Ron Fossum and Marco supported by Tardus to hundreds of investors that also invested heavily in the Norada fund.  I believe there are many groups that helped promote the Norada fund without doing any preliminary research on what the investments entailed or the criminal history of the people involved putting together the "investment opportunity."  I think this is something bigger than many of us realize, but this is just the beginning of the house of cards.  It appears Norada has been sending out unaudited balance sheets to investors asking about their financials that shows over $100M valuation in these seemingly bankrupt businesses they invested in.

Tardus is a financial education company that does NOT recommend specific investments. Neither Tardus nor our coaches accept commissions from vendors. We teach an “investment product agnostic” strategy, focusing on educating investors on performing due diligence, establishing their own risk tolerance, and choosing their own investments. Understanding the risks associated with any investment, being prepared for the worst possible outcome, and having a plan for when an investment doesn't perform as expected is essential. Our primary objective as coaches is to help clients ask the right questions, develop the right criteria, and identify potential red flags.

I wonder if Tardus spell out the Risk Associated with unsecured prom notes like you talking about in your coaching.. many of these folks say they learned of Norada through Tardus and then when they post they simply do not have a grasp of what they invested in.. So how did your coaching help these investors what is the value of Tardus then ?

Our coaches guide clients through an extensive course on investment due diligence to identify their risk tolerance, ask the right questions, create investment criteria, evaluate performance, identify any red flags and have a plan for what to do if an investment doesn't perform as expected. For more clarity on what we do, check out the Income Snowball video on our website.

[Michael P.]

Quote from @Lindsie Akers:

Quote from @Jay Hinrichs:

Quote from @Lindsie Akers:

Quote from @Jon P.:

Lastly, I believe the web of involvement extends to many other financial parties as well.  It will be interesting to see how all this plays out during an investigation, but I sure hope that the money can be followed for the investors' sake that were damaged here.

I've also been made aware that a company, Tardus Wealth Strategies, who "coaches investors on financial independence in 10 years or less" was heavily promoting the Norada fund to unaccredited investors and was also heavily promoting Ron Fossum.  It sounds like there was multiple webinars conducted by Ron Fossum and Marco supported by Tardus to hundreds of investors that also invested heavily in the Norada fund.  I believe there are many groups that helped promote the Norada fund without doing any preliminary research on what the investments entailed or the criminal history of the people involved putting together the "investment opportunity."  I think this is something bigger than many of us realize, but this is just the beginning of the house of cards.  It appears Norada has been sending out unaudited balance sheets to investors asking about their financials that shows over $100M valuation in these seemingly bankrupt businesses they invested in.

Tardus is a financial education company that does NOT recommend specific investments. Neither Tardus nor our coaches accept commissions from vendors. We teach an “investment product agnostic” strategy, focusing on educating investors on performing due diligence, establishing their own risk tolerance, and choosing their own investments. Understanding the risks associated with any investment, being prepared for the worst possible outcome, and having a plan for when an investment doesn't perform as expected is essential. Our primary objective as coaches is to help clients ask the right questions, develop the right criteria, and identify potential red flags.

I wonder if Tardus spell out the Risk Associated with unsecured prom notes like you talking about in your coaching.. many of these folks say they learned of Norada through Tardus and then when they post they simply do not have a grasp of what they invested in.. So how did your coaching help these investors what is the value of Tardus then ?

Our coaches guide clients through an extensive course on investment due diligence to identify their risk tolerance, ask the right questions, create investment criteria, evaluate performance, identify any red flags and have a plan for what to do if an investment doesn't perform as expected. For more clarity on what we do, check out the Income Snowball video on our website.

 How did you come up with the name Tardus. Sounds off-putting. 

[Jay Hinrichs]

Quote from @Lindsie Akers:

Quote from @Jay Hinrichs:

Quote from @Lindsie Akers:

Quote from @Jon P.:

Lastly, I believe the web of involvement extends to many other financial parties as well.  It will be interesting to see how all this plays out during an investigation, but I sure hope that the money can be followed for the investors' sake that were damaged here.

I've also been made aware that a company, Tardus Wealth Strategies, who "coaches investors on financial independence in 10 years or less" was heavily promoting the Norada fund to unaccredited investors and was also heavily promoting Ron Fossum.  It sounds like there was multiple webinars conducted by Ron Fossum and Marco supported by Tardus to hundreds of investors that also invested heavily in the Norada fund.  I believe there are many groups that helped promote the Norada fund without doing any preliminary research on what the investments entailed or the criminal history of the people involved putting together the "investment opportunity."  I think this is something bigger than many of us realize, but this is just the beginning of the house of cards.  It appears Norada has been sending out unaudited balance sheets to investors asking about their financials that shows over $100M valuation in these seemingly bankrupt businesses they invested in.

Tardus is a financial education company that does NOT recommend specific investments. Neither Tardus nor our coaches accept commissions from vendors. We teach an “investment product agnostic” strategy, focusing on educating investors on performing due diligence, establishing their own risk tolerance, and choosing their own investments. Understanding the risks associated with any investment, being prepared for the worst possible outcome, and having a plan for when an investment doesn't perform as expected is essential. Our primary objective as coaches is to help clients ask the right questions, develop the right criteria, and identify potential red flags.

I wonder if Tardus spell out the Risk Associated with unsecured prom notes like you talking about in your coaching.. many of these folks say they learned of Norada through Tardus and then when they post they simply do not have a grasp of what they invested in.. So how did your coaching help these investors what is the value of Tardus then ?

Our coaches guide clients through an extensive course on investment due diligence to identify their risk tolerance, ask the right questions, create investment criteria, evaluate performance, identify any red flags and have a plan for what to do if an investment doesn't perform as expected. For more clarity on what we do, check out the Income Snowball video on our website.

sounds like in the Case of Norada notes this is a big time failure on Tardus part to not identify what this was and what could happen.. not sure why anyone would pay for advice from a company like this.. Geesh..

[Jon P.]

I understand the blanket, public answer about being investment agnostic, educating people about risk, blah blah blah...

The reality is that many Tardus investors have already commented that their coach actually recommended Norada as the best investment option along with the owners doing webinars with Marco promoting his investments...

Still no communication or update from Marco even though we were all told more info would come out.  Looks like multiple people have already filed lawsuits and reported to SEC.  We will see where this goes.  If Marco was truly sincere about trying to turn the ship around, he would at least communicate with the people that he & his sales team convinced to cash in their entire retirement savings to invest in his "bulletproof" investment opportunities...

[Jay Hinrichs]

Well we have to Take Tardus rep at their word they do not take referral fee's..

When these law suits start flying I am sure the attorneys will do a deep dive into who or what company was the per curing cause for these investments.

its is very common in this industry to pay referral fee's for leads ..

@Chris Seveney no doubt will be able to pull copies of the filed lawsuits and that should shed some light on this as there should be exhibits that show the actual notes.

[Henry Clark]

Quote from @Lindsie Akers:

Quote from @Jay Hinrichs:

Quote from @Lindsie Akers:

Quote from @Jon P.:

Lastly, I believe the web of involvement extends to many other financial parties as well.  It will be interesting to see how all this plays out during an investigation, but I sure hope that the money can be followed for the investors' sake that were damaged here.

I've also been made aware that a company, Tardus Wealth Strategies, who "coaches investors on financial independence in 10 years or less" was heavily promoting the Norada fund to unaccredited investors and was also heavily promoting Ron Fossum.  It sounds like there was multiple webinars conducted by Ron Fossum and Marco supported by Tardus to hundreds of investors that also invested heavily in the Norada fund.  I believe there are many groups that helped promote the Norada fund without doing any preliminary research on what the investments entailed or the criminal history of the people involved putting together the "investment opportunity."  I think this is something bigger than many of us realize, but this is just the beginning of the house of cards.  It appears Norada has been sending out unaudited balance sheets to investors asking about their financials that shows over $100M valuation in these seemingly bankrupt businesses they invested in.

Tardus is a financial education company that does NOT recommend specific investments. Neither Tardus nor our coaches accept commissions from vendors. We teach an “investment product agnostic” strategy, focusing on educating investors on performing due diligence, establishing their own risk tolerance, and choosing their own investments. Understanding the risks associated with any investment, being prepared for the worst possible outcome, and having a plan for when an investment doesn't perform as expected is essential. Our primary objective as coaches is to help clients ask the right questions, develop the right criteria, and identify potential red flags.

I wonder if Tardus spell out the Risk Associated with unsecured prom notes like you talking about in your coaching.. many of these folks say they learned of Norada through Tardus and then when they post they simply do not have a grasp of what they invested in.. So how did your coaching help these investors what is the value of Tardus then ?

Our coaches guide clients through an extensive course on investment due diligence to identify their risk tolerance, ask the right questions, create investment criteria, evaluate performance, identify any red flags and have a plan for what to do if an investment doesn't perform as expected. For more clarity on what we do, check out the Income Snowball video on our website.

It’s my understanding the investments in this bond issuance was Broadway shows, crypto, mastermind group, and defunct brand names.  

Would your approach have filtered these out?  Or would the investors above been aware of the extremely high risk associated with these extreme high returns?  

[James Hamling]

Quote from @Jon P.:

...."bulletproof" investment opportunities...

Did someone tell you this? Was there a marketing or sales pitch that made these statements that your accusing them of making? 

Because (a) that should have been your king-sized red-flag right there and (b) that's a huge no-no right there and would kick open a door for accountability. 

I have a strong feeling your just venting hyperbolically. 

Look, I feel for ya Jon, and anyone who in my opinion was foolish enough to ever do these BS "notes". I would have counseled persons to do what I believe and have experienced to be a far superior investment strategy of REAL ESTATE INVESTING. That is why I frequent this place called Bigger Pockets, that's all about REI and not other hokum of "investing"....

To be honest, this is an excellent example of WHY I am so obsessed with Real Estate Investing vs all other forms. 

I had a friend who came to me early '09' in a panic. He closed on a duplex 1 week before the '08' GFC. He was soooo deep in the red ON PAPER, and didn't know what to do. To sell would mean whipping out his entire savings for the amount of cash he'd have to bring to the table just to sell it. So i told him, AWESOME, that makes the answer so simple, DONT SELL, it's just that simple, selling is not an option, so, all energies too leasing it.     And he did just that. He sold that duplex last year, and cleared a 6 figure PROFIT. 

So even the worst of the worst lemons can even be turned into a delicious fruit punch vs this fkry of "notes" where what, what do ya do now, right..... 

Yes, I'm gonna bang the REI gong LOUD-N-PROUD because your on BP, this is our house bro, the house REI built. 

So here is final word on this whole BS with BS note's on proven FAILED/extinct business; DONT, go do REAL ESTATE instead. 

Done? Can we stop yapping on about this BS note investing into "Radio Shack"..... Look, ya might as well invested in Arizona future beach front while at it, YES that's how flawed that whole investment reads to me FROM START.    So yeah, my sympathy potential is VERY limited. If your gonna hit self in head with a hammer I'm not gonna cry for ya when you get a headache. 

Advice? Get an attorney and INVEST IN REAL ESTATE. Done....

[Jay Hinrichs]

Quote from @Henry Clark:

Quote from @Lindsie Akers:

Quote from @Jay Hinrichs:

Quote from @Lindsie Akers:

Quote from @Jon P.:

Lastly, I believe the web of involvement extends to many other financial parties as well.  It will be interesting to see how all this plays out during an investigation, but I sure hope that the money can be followed for the investors' sake that were damaged here.

I've also been made aware that a company, Tardus Wealth Strategies, who "coaches investors on financial independence in 10 years or less" was heavily promoting the Norada fund to unaccredited investors and was also heavily promoting Ron Fossum.  It sounds like there was multiple webinars conducted by Ron Fossum and Marco supported by Tardus to hundreds of investors that also invested heavily in the Norada fund.  I believe there are many groups that helped promote the Norada fund without doing any preliminary research on what the investments entailed or the criminal history of the people involved putting together the "investment opportunity."  I think this is something bigger than many of us realize, but this is just the beginning of the house of cards.  It appears Norada has been sending out unaudited balance sheets to investors asking about their financials that shows over $100M valuation in these seemingly bankrupt businesses they invested in.

Tardus is a financial education company that does NOT recommend specific investments. Neither Tardus nor our coaches accept commissions from vendors. We teach an “investment product agnostic” strategy, focusing on educating investors on performing due diligence, establishing their own risk tolerance, and choosing their own investments. Understanding the risks associated with any investment, being prepared for the worst possible outcome, and having a plan for when an investment doesn't perform as expected is essential. Our primary objective as coaches is to help clients ask the right questions, develop the right criteria, and identify potential red flags.

I wonder if Tardus spell out the Risk Associated with unsecured prom notes like you talking about in your coaching.. many of these folks say they learned of Norada through Tardus and then when they post they simply do not have a grasp of what they invested in.. So how did your coaching help these investors what is the value of Tardus then ?

Our coaches guide clients through an extensive course on investment due diligence to identify their risk tolerance, ask the right questions, create investment criteria, evaluate performance, identify any red flags and have a plan for what to do if an investment doesn't perform as expected. For more clarity on what we do, check out the Income Snowball video on our website.

It’s my understanding the investments in this bond issuance was Broadway shows, crypto, mastermind group, and defunct brand names.  

Would your approach have filtered these out?  Or would the investors above been aware of the extremely high risk associated with these extreme high returns?  

In my mind Henry counslers who are just talking about a snowball to clear debt ( super basic concept) would in no way have the credentials to deep dive into these alternative asset class's and give investment advice on them.. I mean this is stuff for wall st analysts not us ( well Me) vanilla RE investors and lenders..

[Chris Seveney]

Quote from @Jay Hinrichs:

Well we have to Take Tardus rep at their word they do not take referral fee's..

When these law suits start flying I am sure the attorneys will do a deep dive into who or what company was the per curing cause for these investments.

its is very common in this industry to pay referral fee's for leads ..

@Chris Seveney no doubt will be able to pull copies of the filed lawsuits and that should shed some light on this as there should be exhibits that show the actual notes.

 yep I can pull case law pretty easily. To date I have not seen any show up.

As it relates to Tardus - I have personally spoken to them about doing a webinar for them (just like we do them for IRA custodians). I view it the same. They are very upfront with us that they are providing information and not investment advice and have advised us that there is no commissions. I have a close companion who is in their membership and has said what was noted above, they pay to learn the income snowball but this persons rep has never told him "invest in this".

So the way I see what they do as i mentioned, is similar to speaking on a Quest IRA or Equity trust event - which I know Norada I believe has done in the past.

[Henry Clark]

Quote from @Jay Hinrichs:

Quote from @Henry Clark:

Quote from @Lindsie Akers:

Quote from @Jay Hinrichs:

Quote from @Lindsie Akers:

Quote from @Jon P.:

Lastly, I believe the web of involvement extends to many other financial parties as well.  It will be interesting to see how all this plays out during an investigation, but I sure hope that the money can be followed for the investors' sake that were damaged here.

I've also been made aware that a company, Tardus Wealth Strategies, who "coaches investors on financial independence in 10 years or less" was heavily promoting the Norada fund to unaccredited investors and was also heavily promoting Ron Fossum.  It sounds like there was multiple webinars conducted by Ron Fossum and Marco supported by Tardus to hundreds of investors that also invested heavily in the Norada fund.  I believe there are many groups that helped promote the Norada fund without doing any preliminary research on what the investments entailed or the criminal history of the people involved putting together the "investment opportunity."  I think this is something bigger than many of us realize, but this is just the beginning of the house of cards.  It appears Norada has been sending out unaudited balance sheets to investors asking about their financials that shows over $100M valuation in these seemingly bankrupt businesses they invested in.

Tardus is a financial education company that does NOT recommend specific investments. Neither Tardus nor our coaches accept commissions from vendors. We teach an “investment product agnostic” strategy, focusing on educating investors on performing due diligence, establishing their own risk tolerance, and choosing their own investments. Understanding the risks associated with any investment, being prepared for the worst possible outcome, and having a plan for when an investment doesn't perform as expected is essential. Our primary objective as coaches is to help clients ask the right questions, develop the right criteria, and identify potential red flags.

I wonder if Tardus spell out the Risk Associated with unsecured prom notes like you talking about in your coaching.. many of these folks say they learned of Norada through Tardus and then when they post they simply do not have a grasp of what they invested in.. So how did your coaching help these investors what is the value of Tardus then ?

Our coaches guide clients through an extensive course on investment due diligence to identify their risk tolerance, ask the right questions, create investment criteria, evaluate performance, identify any red flags and have a plan for what to do if an investment doesn't perform as expected. For more clarity on what we do, check out the Income Snowball video on our website.

It’s my understanding the investments in this bond issuance was Broadway shows, crypto, mastermind group, and defunct brand names.  

Would your approach have filtered these out?  Or would the investors above been aware of the extremely high risk associated with these extreme high returns?  

In my mind Henry counslers who are just talking about a snowball to clear debt ( super basic concept) would in no way have the credentials to deep dive into these alternative asset class's and give investment advice on them.. I mean this is stuff for wall st analysts not us ( well Me) vanilla RE investors and lenders..

 Trying to get the person to either say yes, their system filters these types of investments out, or they identify them and their risk and it's the investors choice to invest in these for these high returns.