Wednesday, July 29, 2015

He's a Fraud, Claims Wife of Famous Real Estate Guru

Mr. X has been a real estate guru for more than twenty years.  He claims to have made millions of dollars as an investor and property flipper.  His recent advertising claims he flips "300 properties a year" or literally more than one house or building each business day, month after month, year after year, for decades now.

There is no doubt Mr. X is a very, very, very successful real estate guru.  He has filled arenas, auditoriums, and the Internet with sales pitches and merchandise for decades and has probably made tens of millions of dollars selling get-rich-quick home study courses, workshops, and boot camps.

There's only one problem Mr. X has going forward as a real estate guru.

His own wife says he is a con man and has publicly stated his claims of real estate success are all lies.

The situation is simple.  Mr. X is getting a divorce and his wife in official court documents is making some stunning claims about her soon-to-be ex-husband.

I don't really care about the reasons behind the divorce.  (Adultery, physical abuse, emotional cruelty, and irreconcilable differences.)  There is lots of juicy tidbits there but even real estate gurus get divorced.

What is just AMAZING are her allegations versus Mr. X's real estate guru empire.  And she should know.  She served as his business manager for many years.

Just some of the allegations include:

  • Using friends, relatives, and business associates as recommendations in advertising and sales promotions.
  • Showing photographs of houses and buildings which Mr. X claimed to own which he never did.
  • Fabricating documents and evidence to prove Mr. X made huge sums of money on real estate deals.
  • Mocking the purchasers of his real estate courses and products, calling them "first class idiots" and "suckers born to be fleeced."
  • Lying to regulators about certain sales practices at his companies during a prior investigation of Mr. X's guru operations.

There are more than twenty paragraphs of fraud allegations in just the few court pleadings I have seen.  The above barely scratches the surface.

Hell hath no fury like a woman scorned is the motto here.

According to what I have learned Mr. X had an affair with a woman he met at one of his seminars.  (Incidentally, this is more common than you think.  Gurus hit on chicks all the time at these events.)  When Mrs. X learned of the affair, Mr. X denied it until he was caught red handed, or as lawyers say "in flagrante delicto."

So Mrs. X is now on a scorched Earth path of revenge, content to kill the golden goose laying all those eggs just so Mr. X and his new girlfriend cannot enjoy them.

I'm not revealing who Mr. X is just yet.  People in divorce proceedings often say the worst things about their spouses.  (Ask Donald Trump this week.)  Sometimes anger and personal pain cause exaggeration.  So the absolute truth is not known at the present time.  But everything I learned here from Mrs. X under oath confirms everything else I have suspected about Mr. X for years.

If it walks like a duck, quacks like a duck, and looks like a duck, it usually is a duck.  But now I have proof, however accurate but certainly informed and independent, Mr. X actually is a duck.  Good to know.

More to come.