For those offended by the previous GIF - welcome Simon to our world.
Got your attention, didn't I? Good.
Because I am pissed off at the few people who are blaming me, and the other two lawsuits for causing all this grief.
Be sure to read "the bottom line "
at well, duh, the bottom.
"If you hadn't filed the lawsuits, this would not be happening"" I quote from an email to Nana
Does anyone with half a brain really think that is the case? Our suits most likely did not instigate the investigations by the Corp Comm and the ADRE. And my suit deals with a charge of consumer fraud based on intentional misrepresentation regarding our purchase of rental properties. Not the purchase of a security.
What would you have done December 1, 2017 if your loan contract with IPX expired and payment in full was due on your note and IPX said they weren't going to pay it? "OK, you can keep my money?" Or would you seek legal help to get your money? I think you would choose option 2,
If anything started this ball rolling, I suspect it might have been whistle-blowers.
The story of one possible whistle-blower as discussed with me - A person he knows was invested and kept trying to convince him to invest and make a 15% return. So they went to one of the seminars together. When there was no mention of risk and accredited investor requirements during the presentation, this guy saw some red flags. So before he would consider the investment....
He did a Nancy Drew on the offer. He says he saw more red flags. He states he then filed complaints with the SEC and AzCC. This was about the same time as my blog was starting up. He soon found the blog and my email.
He reached out to me and asked if I would be willing to encourage investors to file complaints, but I told him that was not the purpose of my blog. My blog was devoted to educating investors on what I thought was the best way to buy single family homes. Period.
With persistence, he convinced me to put something on my blog for security investors. He wrote and I published the "Esmeralda Investors" information page. That may have been a big mistake on my part, as IPX could possibly file a false light complaint siting that this information (although all of it is in the public domain) was posted with malicious intent and interfered with IPX's client relations and/or acquiring new clients.
Another Esmeralda investor begged me to alert my readers to what she sensed was coming. Her insight came from what she reported to me was an investigative interview of her by the corporation commission. So I carefully worded the post I made that questioned if security violations may have occurred.
Then things got crazy and confused when the IPX radio ads suddenly disappeared. You should see the emails I got that day! Over 25 on that subject. Can you imagine how many IPX received?
I didn't know what to tell them, except that I had heard the ADRE had an issue with required documents on Esmeralda that weren't filed by IPX. After researching this requirement and suspecting these documents may not have been properly filed, it seemed reasonable that they may have simply quashed the ads temporarily until the documents were filed.
So I posted the Nothing Can Stop Us blog at 10:00 am on April 3 to let people know this might be the reason for the ads disappearing and there was no mention of Esmeralda on his April Fools Day broadcast. I published the post, went to check email, and there was the Cease and Desist order link from a friend.
Then ALL HELL broke loose... and here we are.
Bottom line - If you think for one second that our 3 lawsuits are to blame for all this coming down and for possibly putting your investment money at risk, then I simply do not feel the least bit sorry for you.
All of this makes me sick to my stomach. By the time our litigation is finished, and we hopefully get a judgement in our favor, there may not be a dime left for us to collect. If I could have known this in advance, we might not have thrown good money after bad by filing the legal complaint.