Investing scam alert!! Forward as recieved !!

[MiryaIgudaMaruthiRao]

On 10/16/2021 at 7:30 PM, anna_returns_1 said:

INVESTING SCAM ALERT: 

Please forward to all your friends in the US.
****
There are some realtors in the US Indian American community who are wholesaling Texas farmland and promising huge returns to unsuspecting investors and pocketing their money. It a 'get rich quick' scheme. This is how it works.

They buy large acreage farmland for $X from a seller, and tell individuals they bought it for them at $Y. They will pocket the difference. They will not disclose to them who the original seller is or what price they bought it at. They make quick money in the process because Y can be anywhere from 1.5 to 2 X. They will make you believe that they actually bought it at Y from the seller and are just passing on the price. There will be no transparency in the contracts. They know their investor's hard earned money will not stretch far enough for the large amount. So they will make them to get a loan from a bank using their hard earned credit. The individual investor will be stuck with land that they paid upto twice the value and a mortgage for a couple of years. The investors will only make any money if the value of the land sky rockets in a couple of years.

As an example: The group buys 1000 acres at the rate of  $5K per acre. They will tell a jacked up price to the investors, say $9M. They will pocket $4M.
If an investor purchases 100 acres, he/she will pay $900K at the rate of $9k per acre, by putting a down payment of $300k and taking a loan payment of $600k.
The investor will now have a piece of land worth $500K, for which he paid $900K, and a ton of ‘HOPE’ that it will go upto $18K/acre in 2-3 years. 
They will wish them "congratulations, Good luck", and move on to the next set of unsuspecting investors.

There are several doing this especially in the telugu community. Here are a few, but there are many more.

Prathap Gonuguntla
RaviShanker Patel 
Chandra Ponnapureddy 
Kamlakar Poonuru  
VaraPrasad Challa 
Kotha Appalasuri

Please spread this message before it is too late, or the FBI starts knocking on doors. 
Many of the investors dont even realize they have been scammed.
As a service to your community, forward the message and help your folks.
*****
 know couple of people who got sucked it into such ventures. Not saying they incurred losses but you never know. Please be aware and spread the word. Better to be safe than sorry.

I buyed for 500K ba, it’s not scan 

[Mr Mirchi]

amaravathi lo jarigina formula ikkada applying

 

but nothing wrong..mini lekkalu veyakunda kakkurthi ga velli konte emi avudho amaravathi lo chusi/vini kuda evaranna koni vunte..................sarigamapa ne

 

ma frnd gadu 120 ki close ga ata friesco /75 djaati vellakaaa 25k per acre kondhama ..ani plan pampaadu..nuvvu koni nenu nee land chusi happy avutha anna ...chiovariki no money ani backed out vaadu

[MiryaIgudaMaruthiRao]

On 10/16/2021 at 7:30 PM, anna_returns_1 said:

INVESTING SCAM ALERT: 

Please forward to all your friends in the US.
****
There are some realtors in the US Indian American community who are wholesaling Texas farmland and promising huge returns to unsuspecting investors and pocketing their money. It a 'get rich quick' scheme. This is how it works.

They buy large acreage farmland for $X from a seller, and tell individuals they bought it for them at $Y. They will pocket the difference. They will not disclose to them who the original seller is or what price they bought it at. They make quick money in the process because Y can be anywhere from 1.5 to 2 X. They will make you believe that they actually bought it at Y from the seller and are just passing on the price. There will be no transparency in the contracts. They know their investor's hard earned money will not stretch far enough for the large amount. So they will make them to get a loan from a bank using their hard earned credit. The individual investor will be stuck with land that they paid upto twice the value and a mortgage for a couple of years. The investors will only make any money if the value of the land sky rockets in a couple of years.

As an example: The group buys 1000 acres at the rate of  $5K per acre. They will tell a jacked up price to the investors, say $9M. They will pocket $4M.
If an investor purchases 100 acres, he/she will pay $900K at the rate of $9k per acre, by putting a down payment of $300k and taking a loan payment of $600k.
The investor will now have a piece of land worth $500K, for which he paid $900K, and a ton of ‘HOPE’ that it will go upto $18K/acre in 2-3 years. 
They will wish them "congratulations, Good luck", and move on to the next set of unsuspecting investors.

There are several doing this especially in the telugu community. Here are a few, but there are many more.

Prathap Gonuguntla
RaviShanker Patel 
Chandra Ponnapureddy 
Kamlakar Poonuru  
VaraPrasad Challa 
Kotha Appalasuri

Please spread this message before it is too late, or the FBI starts knocking on doors. 
Many of the investors dont even realize they have been scammed.
As a service to your community, forward the message and help your folks.
*****
 know couple of people who got sucked it into such ventures. Not saying they incurred losses but you never know. Please be aware and spread the word. Better to be safe than sorry.

@Stock_Master is one of them