I don't see anything illegal about a corporation selling property to an individual. It looks shady because he has a massive stake in the corporation but I don't think it's illegal. Typically the buyer and seller are two separate entities but since he is a scammer he has forgone any business ethics to take advantage of gullible people.
Jay Morrison bought a $850,000 house through Tulsa Real Estate fund, then sold it to himself for $80
- Thread starter Brolic
- Start date
His greed is gonna get him. Plenty of people do this where they purchase a home in the name of their company and live in it. He's greedy because he wants his name on it and to own it. He probably will get away with it, but the thing about folks like him is that they can't just stop at one or two come ups, they gotta keep upping the stakes.
This all stems from TREF funds ultimately, in which he had fiduciary responsibilities to share holders. They never signed up for him to use their investment funds for him to end up buying a home for him to live in
beenz
Rap Guerilla
even given all this, he simply has ZERO EXPERIENCE running any type of fund at that, which is really the #1 red flag IMO. even if he had a degree, no felonies and didn't sell drugs, I wouldn't trust him with my bread cuz he has no track record of doing this on any level ever.
He did a Denzel in American Gangster. Went viral for going to different hoods giving “free real estate advice” or a sample on how to buy back the block for about 6 months. They started to think he was some sort of guru, then attached Black Wall Street on it which then gave you an emotional black nationalism tie to get you hooked. Then you open your wallets. It was a long con.
Silver Surfer
Veteran
Easy to finesse black folk
beenz
Rap Guerilla
don't forget all the big shows he paid to be on like EYL and the breakfast club. shame on them for allowing grifters onto their platform for a couple bucks.
beenz
Rap Guerilla
they washed their hands of him like a new casino dealer.
but they were definitely on the take.
You do have a lot of leeway when you run a fund (barring clear fraud or bad books) but remember, you also have to show that everything you are doing is in the best interest of the fund, or now you are in breach.
Making bad deals isn’t “illegal”, because it’s life - some people are good at what they do, some people suck.
But if you sell a massive property to yourself for $80, there’s no way to spin that you just made a bad deal in good faith
, and you also breach the “do what’s best for the people” line item because there’s no way to show that your $80 house off of the people’s $11m was a path to success for the fund lol
Damn
Well it's easy to finesse whores pretending to be business women..
Silver Surfer
Veteran
beenz
Rap Guerilla
investors planning on pulling up on jay morrison tomorrow in person 
Ol’Otis
The Picasso of the Ghetto
Easy to finesse the majority of humans period
Pacni99a12
All Star
People still rocking with this dude?