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SCAM ALERT: Flipping [Real Estate] Frenzy Scam!!!

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HAT TIP:  American Greed – CNBC

[SEE THEIR WEBSITE FOR FULL ARTICLE, ~ OR ~ CLICK HERE TO WATCH THE PROGRAM]

Case File:  Flipping Frenzy Scam

Accelerated Funding Group
Jeanetta Standefor runs Accelerated Funding Group. The company claims to use investors’ funds to save homeowners from foreclosure. But while clients think they’re helping people stay in their homes… Standefor is helping herself to millions!

The Con
Standefor convinces clients their cash is rescuing homeowners from foreclosure. She targets inexperienced investors and appeals to their sense of altruism. Her charisma lends credibility to her unrealistic claims. Her pitch sounds too good to be true… and it is.

Living the Good Life
Jeanetta Standefor is living the high life. She uses investor money to buy diamonds, tickets to the theatre and sporting events. She even uses the money to pay for her wedding and a plush honeymoon. But the lavish celebration hides a harsh reality. AFG is crumbling.

End Game
In 2007, the real estate market is tanking and so is AFG. Standefor has been running a scam and bilked hundreds of investors in three states. The Securities and Exchange Commission opens an investigation.

American Greed profiles an $18 million dollar ponzi scheme!

[SEE THEIR WEBSITE FOR FULL ARTICLE, ~ OR ~ CLICK HERE TO WATCH THE PROGRAM]

Jeanetta Standefor | The Con Man
Jeanetta Standefor
The Con Man
Ann Kim | SEC Attorney
Ann Kim
SEC Attorney
Poppi Crowder | The Victim
Poppi Crowder
The Victim

 

WARNING! Breitling's "FREE" Real Estate Investing Seminar – Could Cost You Big!!!

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Okay, we were minding our own business, and we suddenly got a (spam) email from Breitling who is advertising his “FREE” Real Estate Investing Seminar – RE Investor Forum with Kris Krohn of Strongbrook REIC.

Now, we will say, that we Googled “scam” for Strongbrook REIC and for Kris Krohn, and did not come up with anything at this point. 

What we did find was a blog post with some Comments asking about them with some responses.

The article below written by Marty Boardman does not indicate “who” the Investment Seminar Company was that he attended, but his story was compelling to show how something that started off as “FREE” ended up costing him $1,200 ($600 + $600) to start, then later an additional $2,700.00 for the “Advanced” series which laughably taught him nothing that “common sense” would teach you!

Marty does a great job of sharing with you how you can get all this “Free” seminar information truly at no cost if you apply a little local “common sense” of your own!

We are not saying “don’t attend” the seminar with Breitling. We are saying that you could save your time and money considering what this author suggests.

~ Mr. IQD

Traveling is sexy, especially if you don’t do it very often.  That’s why I was so excited to attend my first real estate investing seminar.  I would soon learn everything I needed to know about how to get rich investing in real estate AND fly across country to do it.  Okay, Phoenix to Denver isn’t exactly across country but it was still exciting nonetheless.  The icing on the cake was I got to stay at a Holiday Inn – can you say free continental breakfast?  Yes, I was a real jetsetter.

It was 2001.  I’d just finished reading Robert Kiyosaki’s book Rich Dad, Poor Dad.  His message was very clear – the only way a regular guy like me could achieve financial freedom was through real estate investing.

So I did what most newbie real estate investors do.  I went online and found a weekend seminar.  I spent money on airfare, a hotel room, meals and ground transportation.  I listened to 8 different speakers in two days.  By the end I dropped $600 on a lease/option tape set and another $600 on a foreclosure course. Continue reading →