Jay Morrison And The Tulsa Real Estate Fund Lost Money In 2019-UPDATE: NOW SHUT DOWN

[Piff Perkins]

This was an obvious scam to anyone with a brain. For the life of me I don't understand why Brehs don't just sit down and learn about things instead of relying on YouTube frauds to "teach" you shyt that isn't true. Go read a fukkig book about finance or real estate.

 

[Rollo Goodlove]

what about the plebocites

 

[Rollo Goodlove]

Yall geeked af to see this man fail

yes this nikka was talking all that shyt

 

[MegaManX]

Yep. I remember another scam folks were promoting on this board too about a supposed black owned grocery store. And they only thing they had was a poorly put together youtube video on the corwdfunding page. No business plan, no exec team, just a vague youtube video and they raised over a 100k and disappeared. A sucker is born every minute.

that was webuyblack.com which is scam central with fake crowdraises.

 

[Booker T Garvey]

He doesn’t have that same swaggy/braggadoccio attitude he had when he first started the raise, so clearly something is up. He usually has a super cocky look in his eyes and you don’t see that anymore, he looks like he is humbled but has to keep up a persona.

True but he still spends 6 or 7 minutes talking about how great he is and conjuring up our great leaders and history before getting to the actual topic of real estate and overall business...

I watched some of his most recent videos, he's finally starting to address the SEC filings and his forward thinking statements - he's no longer guaranteeing anything to investors, he's saying that he projects them to do well now

 

[TLR Is Mental Poison]

This was an obvious scam to anyone with a brain. For the life of me I don't understand why Brehs don't just sit down and learn about things instead of relying on YouTube frauds to "teach" you shyt that isn't true. Go read a fukkig book about finance or real estate.

Thinking and learning is hard. Better to let the slick talking pied pipers do it for you.

 

[invalid]

Still not closed.



The Tulsa Real Estate Fund on Instagram: “Partner with us 5/5/20 by 11:59 PST for our Final Capital Raise and to secure your Family or Company Name on our Legacy Wall!!! Visit…”

 

[invalid]

Jay says the crowdraise portion is stopping because his legal team advised him that it is a very thin line to keep raising capital and pay dividends at the same time because it could give off the appearance of being a Ponzi.

Which I can understand but funds do it all the time. It's just how funds operate. So that doesn't make sense to me. He needs to hire an in-house controller and accountant.

But for Jay, he's saying after this final capital raise, he wants to ensure that any payouts or distributions, don't appear to his investors as if they are coming from new capital, but strictly from the corpus and returns.

I think he's being overly cautious in that regard. He needs to focus on improving his portfolio so he can meet his rate of return. If he's meeting his rate, and have proper accounting, and reduce that killer management fee he's charging, he doesn't have to worry about using new capital to pay out dividends or distributions because nothing substantial will be eating into the corpus.

 

[invalid]

 

[Problematic Pat]

SEC Concludes Investigation into the Tulsa Real Estate Fund and Fund Manager Jay Morrison
No Enforcement Action Recommended.

(Black PR Wire) East Point, GA /Newswire/ -- Tulsa Real Estate Fund (TREF), the first African-American owned Regulation A+ Tier II crowdfund designed to revitalize urban communities across the U.S., announced today that it is in receipt of a letter from the Securities & Exchange Commission (SEC) concluding their investigation into the Tulsa Real Estate Fund with no enforcement action.



On March 7, 2019, the company issued a Form 1-U announcing that it and Jay Morrison were named in a grand jury subpoena from the Department of Justice and a civil subpoena from the Securities and Exchange Commission, each seeking documents and other information concerning the company and fund operations.



As of July 29th, 2019, the company received correspondence from the Department of Justice concluding its criminal investigation with no findings. The correspondence from the Department of Justice reported that there will be no further investigation at this time.



As of May 27, 2020, the company received correspondence from the SEC concluding its investigation stating, “Based on the information we have as of this date, we do not intend to recommend an enforcement action by the Commission against Tulsa Real Estate Fund, LLC.”



“While we realize that we must in no way construe the conclusions as indicating that we have been “exonerated”, we are very pleased with the documented investigative conclusions by the Department of Justice and the SEC into the Tulsa Real Estate Fund,” stated Jay Morrison, CEO and Founder of the Tulsa Real Estate Fund. “We cooperated fully with both the DOJ and the SEC investigations that led to no findings and no enforcement action, respectively; and we consider this justice for us and our more than 15,000 pledged investment partners worldwide.”

http://www.blackprwire.com/press-re...NfdtVk0h4-3XWxiv45Naj3rh_athujgGdBngT8MeXMKdo

 

[richaveli83]

 

[theworldismine13]

SEC Concludes Investigation into the Tulsa Real Estate Fund and Fund Manager Jay Morrison
No Enforcement Action Recommended.

(Black PR Wire) East Point, GA /Newswire/ -- Tulsa Real Estate Fund (TREF), the first African-American owned Regulation A+ Tier II crowdfund designed to revitalize urban communities across the U.S., announced today that it is in receipt of a letter from the Securities & Exchange Commission (SEC) concluding their investigation into the Tulsa Real Estate Fund with no enforcement action.



On March 7, 2019, the company issued a Form 1-U announcing that it and Jay Morrison were named in a grand jury subpoena from the Department of Justice and a civil subpoena from the Securities and Exchange Commission, each seeking documents and other information concerning the company and fund operations.



As of July 29th, 2019, the company received correspondence from the Department of Justice concluding its criminal investigation with no findings. The correspondence from the Department of Justice reported that there will be no further investigation at this time.



As of May 27, 2020, the company received correspondence from the SEC concluding its investigation stating, “Based on the information we have as of this date, we do not intend to recommend an enforcement action by the Commission against Tulsa Real Estate Fund, LLC.”



“While we realize that we must in no way construe the conclusions as indicating that we have been “exonerated”, we are very pleased with the documented investigative conclusions by the Department of Justice and the SEC into the Tulsa Real Estate Fund,” stated Jay Morrison, CEO and Founder of the Tulsa Real Estate Fund. “We cooperated fully with both the DOJ and the SEC investigations that led to no findings and no enforcement action, respectively; and we consider this justice for us and our more than 15,000 pledged investment partners worldwide.”

http://www.blackprwire.com/press-re...NfdtVk0h4-3XWxiv45Naj3rh_athujgGdBngT8MeXMKdo

‪JAY-Z - Guilty Until Proven Innocent ft. R. Kelly via @YouTube‬

 

[HTXBreh]

What does it mean..... has anyone gotten money back yet.

 

[Problematic Pat]

What does it mean..... has anyone gotten money back yet.

It means Black people need to stop reporting other Black people to the authorities because they don't like them. nikkaz don't ever report cacs or other races but got so much smoke for there own kind. Motherfukkaz wanted this man to be on American Greed so badly. c00n shyt if you ask me. Majority of the complaints came from Carnell side of ADOS and then Tariq ADOS/FBA stans got themselves involved with the tatle telling white lies.

 

[The Up Right Man]

It means Black people need to stop reporting other Black people to the authorities because they don't like them. nikkaz don't ever report cacs or other races but got so much smoke for there own kind. Motherfukkaz wanted this man to be on American Greed so badly. c00n shyt if you ask me. Majority of the complaints came from Carnell side of ADOS and then Tariq ADOS/FBA stans got themselves involved with the tatle telling white lies.

How do you know somebody black reported him?

If the report was valid doesn’t that mean it was bad business?

With that being said, should we allow people to take advantage of the community because they are black and have status?