The Minnesota Better Business Bureau has issued a warning about a series of real estate seminars currently being offered nationwide. These seminars offer to teach attendees how to buy property at bargain prices and sell it later for a profit. The seminars are purported to use the principles of Dean Graziosi, or Dean Enterprises, LLC, an Arizona company owned by Graziosi. According to the BBB, each of these companies has an "F" rating.
Solicitations are run on television and online, offering a free 90-minute seminar for attendees to learn "How to Make a Fortune in Real Estate - Right Now!" An undercover BBB representative participated in one of these seminars, and reported troubling findings:
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- The presentation ran for over 90 minutes.
- None of the attendees learned how they could make a fortune buying and selling real estate.
- They did learn that it would cost them about $2,000 to learn how to do these things in a three-day training to be held at a later date.
- Each attendee was asked to provide
|Fraud Is Changing. Beware! |
As our economic conditions change, so do fraud schemes. If you haven't been invited to a seminar to invest in "the opportunity of a life time," just wait. Your time will come. In the past few months we have been alerted to seminars offering "smart investors" the opportunity to get in on the ground floor by investing invest in new energy technology. Such sales meetings start with friends and associates of early victims and are often held in one of their houses, where prospective investors are told that the business already has contracts with local and national corporations willing to pay "top dollar."
Our investigators have attended such sales meeting and found them to be short on details and long on promises. The discussion quickly changes from details about the product and contracts to promises of profitability. Once potential investors have dollar signs in their eyes and any attempt at scrutiny is met with distain by nearly all in the room. Hope overtakes reason, and before the meeting is over initial shares of stock in this company are being sold in minimum amounts of 5,000.
Other presentations are... Read More