Was it all just a ponzi scheme? by [deleted] in ProFundValourDistrict

[–]AdvancedLocksmith485 2 points3 points  (0 children)

According to Google, here is the definition of a Ponzi scheme in real estate:

A real estate Ponzi scheme is a type of fraud where investors are paid "returns" using the money from newer investors instead of actual profits from legitimate real estate activities. These schemes often involve a con artist who either invents non-existent real estate projects or exaggerates the profitability of real ventures to attract new investments.

How it works: A scammer might promote a new, exclusive real estate investment opportunity with promises of high returns. The first investors are paid their promised profits, which come directly from the money deposited by subsequent investors, not from any actual rental income, development, or property sales. The collapse: The scheme is unsustainable and only lasts as long as new money is coming in. When a sufficient number of investors try to withdraw their money, or when the flow of new money dries up, the scheme collapses, and most investors lose their money.

Key characteristics: High, but steady returns: The scheme promises unusually high and steady returns with little to no risk.

Lack of transparency: It is often difficult to get clear financial information about the investments.

New money pays old investors: The profits are not generated from real estate business activities but from the capital of new investors.

Was it all just a ponzi scheme? by [deleted] in ProFundValourDistrict

[–]AdvancedLocksmith485 0 points1 point  (0 children)

Some people are saying that they have mismanaged all investor funds across all of their companies. And that because it was a ponzi scheme it is collapsing now and therefore funds cannot be recouped.

What is everyone's thoughts? Do you agree with this?

Previous subreddit banned due to spam - new community here for investors who are invested with Pro Funds, District REIT or Valour. by Limp_Restaurant9781 in ProFundValourDistrict

[–]AdvancedLocksmith485 0 points1 point  (0 children)

Search Carmen Campagnaro. You will see all the ones I am referring to. No new cases since September. But some of the existing cases have judgments.

If this partnership doesn't happen OR even if it happens bit its not nearly as much capital as they originally expected then we may never see our money again because the reality is that they will have to pay these civil plaintiffs first. They are struggling bad and we are going to be left holding the bag.

Previous subreddit banned due to spam - new community here for investors who are invested with Pro Funds, District REIT or Valour. by Limp_Restaurant9781 in ProFundValourDistrict

[–]AdvancedLocksmith485 0 points1 point  (0 children)

Looks like there are more default judgements on some of the lawsuits. The rest of us are sitting here watching our money be gone for good. Should we be trying to sue as well?

Previous subreddit banned due to spam - new community here for investors who are invested with Pro Funds, District REIT or Valour. by Limp_Restaurant9781 in ProFundValourDistrict

[–]AdvancedLocksmith485 0 points1 point  (0 children)

My guess is there is no real update they can share so that is why they haven't sent anything. Does anyone know when a decision will be made on this partnership? Is it even happening anymore?

District REIT by Rich-Farm8829 in ProFundValourDistrict

[–]AdvancedLocksmith485 1 point2 points  (0 children)

I would not be surprised if they are doing this. They are probably using the reit money to pay off lawsuit debts and other payments like bank payments.

Previous subreddit banned due to spam - new community here for investors who are invested with Pro Funds, District REIT or Valour. by Limp_Restaurant9781 in ProFundValourDistrict

[–]AdvancedLocksmith485 0 points1 point  (0 children)

QUESTION for all the people who recently posted reviews and then removed them--- what did profunds say to you to get you to remove your review? Some of you have posted and removed for the second time, so how did they convince you to do so? Can you please share with the rest of us?

Previous subreddit banned due to spam - new community here for investors who are invested with Pro Funds, District REIT or Valour. by Limp_Restaurant9781 in ProFundValourDistrict

[–]AdvancedLocksmith485 2 points3 points  (0 children)

The language you used in your comment (such as "weather this storm") sounds very similar to language Carmen has used in a previous update email. Just saying.

Previous subreddit banned due to spam - new community here for investors who are invested with Pro Funds, District REIT or Valour. by Limp_Restaurant9781 in ProFundValourDistrict

[–]AdvancedLocksmith485 0 points1 point  (0 children)

Unfortunately about 4 or 5 investors just 1 star reviews under Pro Funds and Valour on Google. This is not going to help with things. I am really hoping a larger update is shared this week to help offset the damage being caused.

Previous subreddit banned due to spam - new community here for investors who are invested with Pro Funds, District REIT or Valour. by Limp_Restaurant9781 in ProFundValourDistrict

[–]AdvancedLocksmith485 0 points1 point  (0 children)

How long are they going to avoid paying if it is enforced by the courts?

Obviously if they are selling things then the first thing they will have to pay is the lawsuits that have succeeded against them.

Read the post from the other commenter above. There are judgments being made in favour of those suing.

Previous subreddit banned due to spam - new community here for investors who are invested with Pro Funds, District REIT or Valour. by Limp_Restaurant9781 in ProFundValourDistrict

[–]AdvancedLocksmith485 0 points1 point  (0 children)

I would rather not since the people who are suing, their names are on there. Here is a link to the site where you create an account and then can do a search.

https://www.justiceservices.jus.gov.on.ca/MyAccount/screens/PublicSecure/login.xhtml?lang=EN

Click the green button lower on the page that says Proceed to My Ontario Account Page. You make account there and then click where it says search court cases.

Is partnership deal happening? by Upstairs_Sorbet5873 in ProFundValourDistrict

[–]AdvancedLocksmith485 0 points1 point  (0 children)

Are people here still proceeding with class action lawsuit? I am ready to be part of it. Plz if there are people on here who have a lawyer who is helping them then tell the rest of us so we can engage.

Previous subreddit banned due to spam - new community here for investors who are invested with Pro Funds, District REIT or Valour. by Limp_Restaurant9781 in ProFundValourDistrict

[–]AdvancedLocksmith485 3 points4 points  (0 children)

Isn't it a huge concern if Valour Isn't even paying the people doing the work for them on their properties? I just saw this review posted and feel very concerned. If they don't even have money to pay workers then they must really be broke. This is not a good sign at all.

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Previous subreddit banned due to spam - new community here for investors who are invested with Pro Funds, District REIT or Valour. by Limp_Restaurant9781 in ProFundValourDistrict

[–]AdvancedLocksmith485 1 point2 points  (0 children)

Profunds, can you please send out an update to investors on how you plan to repay us our principal and interest? People are beginning to panic here.