[ad_1]
Jay Morrison was reportedly a trusted monetary advisor in Atlanta, Georgia. Nonetheless, he’s now beneath fireplace, as some traders say he scammed them out of 1000’s of {dollars}.
Morrison allegedly promoted an actual property fund that garnered over $11.7 million.
Now, traders are alleging that their deposits have “vanished.”
The Shade Room’s Justin Carter is wanting into the matter for ‘TSR Investigates.’
Extra Particulars About Jay Morrison & The Tulsa Actual Property Fund
In response to Carter, Morrison began his profession in finance and actual property after serving a while behind bars. After his launch, Morrison reportedly amassed a following on social media by providing programs on monetary literacy in public areas.
Then, in 2018, Morrison launched the Tulsa Actual Property Fund. Carter experiences that it’s a government-regulated platform that enables certified people to crowdfund with others with a view to put money into and personal actual property.
Carter provides that fifteen thousand individuals joined the fund, which reportedly had a $500 minimal enrollment payment. Nonetheless, it appeared to haven’t any return.
“I by no means make investments something that I can’t lose, however once you make investments, you don’t intend to lose on the identical time,” Jullien Gordon, who contributed $40,000 to the fund, advised Carter.
Gordon reportedly secured a 30,000-square-foot occasion house known as The Legacy Heart by the fund, which allegedly invested over $3.5 million to amass and develop the situation.
Nonetheless, after the 2020 COVID-19 pandemic, it appeared that plans had derailed.
Buyers Name Cap On The Monetary Advisor’s Promise
In response to Gordon, he quickly found that the U.S. Securities and Trade Fee and the Division of Justice had been investigating the Tusla Actual Property Fund and Morrison.
The investigation reportedly concluded in Might 2020 with no vital findings. Nonetheless, Gordon remained skeptical of Morrison, believing he was lacing his pockets with thousands and thousands from the fund.
“He’s eaten over one million — nearly in all probability two million by now in supervisor’s charges. He’s paid his spouse by the group. She used the services with out in all probability any fee… and I assure that there’s no transaction of her paying us, the traders, or the entity for the utilization of that house,” Gordon advised Carter.
Scroll above to observe as extra traders weigh in on Morrison’s alleged actions and react to the information of The Legacy Heart now being bought for thousands and thousands. Moreover, Carter shares an unique assertion from Morrison in response to the accusations.
RELATED: Maryland Teacher Under Fire: Video Surfaces Of Students Taking Out His Braids | TSR Investigates
[ad_2]
Source link