I followed this case closely and know the industry he was playing in.His returns were possible in the best case scenario on small good deals but
wouldn't scale and be sustainable.He covered his losses long
past the obvious point that the market was going sideways. He kept taking money
right up till the end.For him to say that this shouldn't have
been filed is bold posturing now that he was thrown a gift from the incompetent
system that should have taken him down long ago.He is better off
just thanking his lucky stars instead of riling up all the people who lost money
by his tricky ways.
I can't believe they screwed up this slam dunk case so bad that he walked.
Whether he is guilty or not, I have no idea, but this just another in a long
list of stories of ill advised people in Utah who need to be better informed of
investment risks and not just believe the guy who is taking their money.
If anyone promises you 5% return per month if you will take out a 2nd mortgage
on your home and give the money to them to "invest" or buy rentals or
whatever....run.I'm shocked this guy won't even go to
trial and victims lost millions. Shame.
Call me old fashioned fuddyduddy, but is is it no longer considered good manners
for a gentleman to remove his hat indoors?I used to listen to his
KTKK radio show. He was all Ayn Randian about being a "producer" and not
a "parasite," but his mode of income production was all about churning
other people's money, not creating anything new of value.