I want to caution everyone against investing with Techvestor (techvestor.com)
or related companies Scoutpads, Metallic Blue Development (MBD) and
Superhost Labs. All of them are centered around Sief Khafagi and his
partners Brian Dozier, Sabrina Guler, Corbin Weinerman.
Before
starting Techvestor, Sief and others managed a number of real estate
investments in Los Angeles under the Scoutpads brand with MBD as the
operator. Over the years they signed up over 200 investors, primarily
employees of Facebook/Meta (where Sief used to work) and Apple (where
Sabrina used to work). MBD is now in chapter 7 bankruptcy with at least
$18M of investor money missing. My husband and I are among the affected
people and we lost hope of recovering any substantial portion of our
investment.
Things started to go
south in mid-2021. Sief suddenly distanced himself from Brian and
essentially stopped all communication with investors. More and more
people were speaking up about projects exceeding deadlines, ignored
withdrawal requests or delays blamed on COVID, family problems, city
slowness, ...
Instead of taking
responsibility, Sief decided to play the victim card and blame
everything on Brian, who most of us never met. He pivoted to STR
projects, rebranded as Techvestor and since then brushed off questions
about Scout pads or MBD. He shut down scoutpads.com,
removed Scoutpads from his LinkedIn page and is trying hard to silence
any negative reviews of him or his businesses. He even had the audacity
to try to manipulate us into signing an agreement waiving our rights to
go after him in court.
Earlier
this year, several larger investors forced MBD into involuntary
bankruptcy (case 2:22-BK-16483-ER, U.S Bankruptcy Court, Los Angeles
Division). Everybody is now learning about the mess that Sief lured us
into. Court hearings revealed that instead of acquiring advertised
properties, Scoutpads/MBD only purchased options on those properties and
never exercised them! There is also a forensic analysis showing
fabricated dates on our contracts to re-allocate money to older
projects. Many more disturbing facts and allegations are available in
public court documents: https://unicourt.com/case/pc-bk5-metallic-blue-development-llc-2058799.
Bankruptcy cases can take years to unravel and most of us are expecting to recover pennies on the dollar at best.
Make your own judgement on trusting people with a track record like that.
