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

[Chris John]

Quote from @Paul Azad:

It is not whining for BP members to complain about a complete loss of capital and a former BP Darling Marco the turn-key real estate expert from going RadioShack-silent for a month.

I know this is a serious conversation, but this made me laugh and I feel like it's an underrated comment.

[Nate Marshall]

Quote from @Michael P.:

Quote from @James Wise:

Quote from @Jay Hinrichs:

Quote from @James Wise:

Quote from @Jay Hinrichs:

Quote from @James Wise:

Quote from @Adam Terneus:

Just got another email from Marco…😑

17% Interest Promissory Note | Short Terms

My partners and I are raising $5 million of short-term expansion capital for our exciting and profitable growing business, the Aspire Tour. Aspire is "The Largest Business Tour in the U.S." ~ Forbes Aspire is a major part of our Level Upand Money Is Mastermind family. We have roughly 1,900 paying members with a current valuation of $43 million. We're looking for a small number of Promissory Note investors with these terms: . 17% annual interest. 12-month or 36-monthterm. Quarterly interest payments. Secured by equity. (not real estate-based) $50,000 minimum investment. First-come, first-serve basis. Accredited investors only. . Feel free to book a 10-15-minute call to learn more. Marco Santarelli, Partner Aspire Tour and Money Is Mastermind P.S. Be sure to check out Aspire Tour on as well. Click Here to Book a

 Lol, they even got the Wolf of Wall Street. Nothing says "this is a legitimate investment" like the investment company hiring the dude who stole hundreds of millions of dollars from people.

 ya but I loved the movie !!  

 well going to Nuk on them sure wont achieve the return of investment all but assures a wipe out. 

 Based on what I've seen in this thread and a very very limited look at these investments and the websites behind them, I'd say these investors have a better shot at getting a date with Margot Robbie than getting their money back.

I bet RadioShack could make a comeback in Cleveland. Just needs a hype man who is good at making videos. 

 Billy Mays passed away unfortunately. 

[Nate Marshall]

Ernie could do it. 

[Alex Tank]

I lost my money too in Norada Note. It is PONZI scheme. I am filing a suit in Orange County Superior Court and along with reporting to following government entity. 

If you don't try, you may not get anything. Be part of the "Class Action!" 

Report here:

1. Federal Trade Commission (FTC):
- https://reportfraud.ftc.gov/

2. Securities and Exchange Commission (SEC):
- https://www.sec.gov/complaint/select.shtml

3. Consumer Financial Protection Bureau (CFPB):
- https://www.consumerfinance.gov/complaint/

4. Internal Revenue Service (IRS):
- https://www.irs.gov/individuals/how-do-you-report-suspected-...

5. Federal Bureau of Investigation (FBI):
- https://www.fbi.gov/investigate/white-collar-crime

6. U.S. Postal Inspection Service:
- https://www.uspis.gov/report

7. State Attorney General's Office:
- Visit your state's Attorney General's website for more information.

[Jay Hinrichs]

Quote from @Alex Tank:

I lost my money too in Norada Note. It is PONZI scheme. I am filing a suit in Orange County Superior Court and along with reporting to following government entity. 

If you don't try, you may not get anything. Be part of the "Class Action!" 

Report here:

1. Federal Trade Commission (FTC):
- https://reportfraud.ftc.gov/

2. Securities and Exchange Commission (SEC):
- https://www.sec.gov/complaint/select.shtml

3. Consumer Financial Protection Bureau (CFPB):
- https://www.consumerfinance.gov/complaint/

4. Internal Revenue Service (IRS):
- https://www.irs.gov/individuals/how-do-you-report-suspected-...

5. Federal Bureau of Investigation (FBI):
- https://www.fbi.gov/investigate/white-collar-crime

6. U.S. Postal Inspection Service:
- https://www.uspis.gov/report

7. State Attorney General's Office:
- Visit your state's Attorney General's website for more information.

I got a chance to read the notes you guys were issued you have not lost anything ( yet) the note calls for your funds to be rolled into equity within 90 days of default so thats about mid sept. How do you know your money is gone ??? or will never come back. I mean you guys got those notes read them I am sure ( since it was very plain english) understood them )  Notes go into default all the time.. does not make it criminal or a ponzi .  Anyway be nice to have some concrete evidence other than all the emotional stuff being posted ..

[Harish V.]

I will add Norada to my do not invest list.