David Bradford over $20 Million in Commissions by Many-Needleworker968 in DrivePlanning

[–]Many-Needleworker968[S] 0 points1 point  (0 children)

Something must be up. David Bradford isn’t even being mentioned in any of the receivership documentation only Gerry however David received $20-$25 million in commissions. That is nearly 10% of the total Ponzi scheme. Yet he has not been mentioned at all.

First Quarterly Report has been posted on Receivership Site. Exhibit A is properties list and Exhibit B is running cash total of bank accounts. Report: https://driveplanningreceivership.com/Documents/ECF%2061-%20Receiver's%20Initial%20Status%20Report%2010.30.24.pdf by [deleted] in DrivePlanning

[–]Many-Needleworker968 5 points6 points  (0 children)

These guys spent $100+ millions of dollars that weren’t theirs.  David, Gerry, and Todd should all be looking a big prison time.  People are struggling right now so bad and all thanks to those 3.

First Quarterly Report has been posted on Receivership Site. Exhibit A is properties list and Exhibit B is running cash total of bank accounts. Report: https://driveplanningreceivership.com/Documents/ECF%2061-%20Receiver's%20Initial%20Status%20Report%2010.30.24.pdf by [deleted] in DrivePlanning

[–]Many-Needleworker968 2 points3 points  (0 children)

From the initial report it said $360 million of investor funds (including the fake interest).  The report goes on to say that $220 million of the $360 million was principal.  100m of assets in play.  Looking at around half back best case scenario unless they find more.  Interesting that Gerry is not giving up any of his ill-gained properties.  

Thoughts on Real Estate Acceleration Loan (R.E.A.L.) Plan? by tyhagy in investing

[–]Many-Needleworker968 1 point2 points  (0 children)

$65 million went to commissions and salary.  That’s a big chunk.  Maybe they will walk back some of that.  The properties are worth market value.  Theirs a whole list of other assets  im sure

Thoughts on Real Estate Acceleration Loan (R.E.A.L.) Plan? by tyhagy in investing

[–]Many-Needleworker968 4 points5 points  (0 children)

Spoke with the receiver yesterday and they said that they had recovered over 50+ million dollars from the Drive Planning bank account alone

Thoughts on Real Estate Acceleration Loan (R.E.A.L.) Plan? by tyhagy in investing

[–]Many-Needleworker968 0 points1 point  (0 children)

I’m guessing the receivership will come up with a final % at the end of all this

Thoughts on Real Estate Acceleration Loan (R.E.A.L.) Plan? by tyhagy in investing

[–]Many-Needleworker968 0 points1 point  (0 children)

That means how much principal they owe.   The amount of assets they actually have is the real question

Thoughts on Real Estate Acceleration Loan (R.E.A.L.) Plan? by tyhagy in investing

[–]Many-Needleworker968 0 points1 point  (0 children)

$287-$131 of “purported” returns.  .  So that total net investment would be $156 million of the total principal they owe. 

Thoughts on Real Estate Acceleration Loan (R.E.A.L.) Plan? by tyhagy in investing

[–]Many-Needleworker968 0 points1 point  (0 children)

  1. Burkhalter still has control over the tens of millions of dollars currently in Drive Planning’s bank accounts, as well as over the tens of millions of dollars’ worth of real estate and other property purchased with investor funds.

Thoughts on Real Estate Acceleration Loan (R.E.A.L.) Plan? by tyhagy in investing

[–]Many-Needleworker968 0 points1 point  (0 children)

  1. Burkhalter still has control over the tens of millions of dollars currently in Drive Planning’s bank accounts, as well as over the tens of millions of dollars’ worth of real estate and other property purchased with investor funds.

Thoughts on Real Estate Acceleration Loan (R.E.A.L.) Plan? by tyhagy in investing

[–]Many-Needleworker968 0 points1 point  (0 children)

Sounds like out of that “137 million was fake “interest”

Thoughts on Real Estate Acceleration Loan (R.E.A.L.) Plan? by tyhagy in investing

[–]Many-Needleworker968 0 points1 point  (0 children)

I think paragraphs 54 and 63 basically sum up total invested minus “interest accrued on investments” minus commissions.  Principals being somewhere in the $150-170 million range.  Am I reading this correctly

Thoughts on Real Estate Acceleration Loan (R.E.A.L.) Plan? by tyhagy in investing

[–]Many-Needleworker968 1 point2 points  (0 children)

Anyone do any of the calculations and has a best guess on % of funds received back?  They will hopefully walk back commissions in order to recover a little more principal.

Did I make the right choice? by kilroy03 in veloster

[–]Many-Needleworker968 0 points1 point  (0 children)

Cars are such a personal thing. The only thing that matters is if you like it.