ReturnOfJudah
Veteran
no
.Don’t be bearing false witness cuz you in the crosshairs
Jay Morrison bought a $850,000 house through Tulsa Real Estate fund, then sold it to himself for $80
- Thread starter Brolic
- Start date
.Don’t be bearing false witness cuz you in the crosshairs
no
Oh that was lionofjudah https://www.thecoli.com/threads/dont-trade-stock-options-breh.138263/
Who was banned, and now you are appropriately calling yourself "returnofJudah"???? You came back to spit some Hebrew isrealite babble? Are you still mad brother polight ethered the Israelites?
Kurt off them percs
With Booker T wife
ReturnOfJudah
Veteran
My name returnofjudah because of the return of the tribe of Judah to its rightful rulership. Not the return of a banned poster
The harsh reality is that you can't crowdfund investments. Theres too many people and too little money. Thats why accredited investors have minimums in the hundreds of thousands or millions to even get in.Sometimes I wonder if it's really that hard to do the right thing
The premise always make sense at first
Hey black community, lets crowdsource and own our land or create our own schools or build up our own infrastructure etc
Black people get motivated, inspired, and invest and put in
Months later: In today's news, acclaimed activist/entrepreneur was alleged to have used funding from community investment group for personal gains
Sigh is it really that hard to do the right thing by building and making money and being praised for it?
My name returnofjudah because of the return of the tribe of Judah. Not the return of a banned poster
Is that so? 
"Every investment carries a certain amount of risk!" 
↓R↑LYB
I trained Sheng Long and Shonuff
Financed it how? For the bank to finance the loan there needs to be collateral. If the fund bought the land for 850k, then he couldn't use that property as collateral for his new 875k loan.
Not to mention he just took out a 1+ million dollar mortgage on the black house a few months ago and he wouldn't be able to use those funds to buy his personal home either.
I'm just assuming he did, if you have title to the property you can refinance because the land has equity
Another poster suggested that he got the money from the management fee
Or it could have been a combination
Either way, I agree that visually it looks bad but there is nothing illegal.
I have too......I mean Jay has to show the paperwork showing the the transfer of the payment and the documents giving rights to the fund to develop the property, that is a sticking point as far as transparency
↓R↑LYB
I trained Sheng Long and Shonuff
That nikka going to prison.
ReturnOfJudah
Veteran
yup. Type my screen name and stocks. It should be the same stance if we are same. I doubt you even find me in a thread in stocks. Ive been banned plenty of times and came back under my screen name. But i see your play. After being exposed you trying to change the topic. Naw nikka, you in them crosshairs
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
When a fund manager starts making decisions outside the scope of the fund's strategy, they open themselves up to investor redemptions, regulatory sanctions, and civil litigation.
TREF's strategy was "buy back the block for us" not "buy back the block for me".
Exposed for what? For being Jay Morrison?
Jay is a real scammer. That property was purchased with the funds money and was always intended to be his personal home. His story about the fund having development “rights in perpetuity” sound good but is just more fast talk.
1. That property is located off Camp Creek Parkway. That area, including Demooney Rd, is zoned for residential property.
2. The commercial zones in that area are on Camp Creek Parkway, South Fulton Parkway, and sections of Butner Rd (Butner & Camp Creek and Butner & Stonewall Tell and Butner & Campbellton Fairburn Rd).
3. So His claims that the 32 acres will be developed for business use is a flat out lie.
4. He also mentions multi-family development on the land. Again, The Camp Creek area is 99% made up of single family subdivisions and homes. There is no market for multi-fanily housing in that area.
5. Developers that purchase large acre lots in the area do so with a plan of building single family home communities, not multi families. Jay mentioned nothing of the nature with this property. He mentioned multi-family because that is one of the buzz words these fake gurus use.
Jay knows the fund is about to be out of here. The property is in his name and there will be no fund to get development rights of the 32 acres in “perpetuity”.
1. That property is located off Camp Creek Parkway. That area, including Demooney Rd, is zoned for residential property.
2. The commercial zones in that area are on Camp Creek Parkway, South Fulton Parkway, and sections of Butner Rd (Butner & Camp Creek and Butner & Stonewall Tell and Butner & Campbellton Fairburn Rd).
3. So His claims that the 32 acres will be developed for business use is a flat out lie.
4. He also mentions multi-family development on the land. Again, The Camp Creek area is 99% made up of single family subdivisions and homes. There is no market for multi-fanily housing in that area.
5. Developers that purchase large acre lots in the area do so with a plan of building single family home communities, not multi families. Jay mentioned nothing of the nature with this property. He mentioned multi-family because that is one of the buzz words these fake gurus use.
Jay knows the fund is about to be out of here. The property is in his name and there will be no fund to get development rights of the 32 acres in “perpetuity”.