Bravata

This guy will not quit!

Ok, let's give him the benefit of the doubt and say he was innocent and did not steal 53 Million from his investors. Well then you have to realize that the debts owed on the properties were more than the properties are worth. The SEC says the value of the properties is worth around 10 million, and he raised 53 million, so either he stole the money, or lost it in the real estate market.

SO, if he didn't steal it, he may be the worst real estate investor of all time. I totally understand the market crashed, but come on, you're going to say that you're innocent and didn't steal the money, but then you are basically saying you suck at investing. I'm not sure what is worse, to admit you stole it or admit you're the worst businessman of all time!

Update - now he is back at it again and more.

His website is back up here and his unbelievable "everything I touch turns to gold" is still here.

With all the court cases and allegations and cease and decist, I don't understand how he can still have these websites up and running.