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Over $1 billion got flushed in our community in the past 3 years by rogue investments

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Mendy Feferkorn avatar
Mendy Feferkorn

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There's another thing, every few years, every I would say every few months, there's a new Ponzi scheme growing every few months. This guy buys buildings in Georgia, this guy buys buildings in Texas, and this guy gold mines, and this guy has oil fields. And millions and millions and millions get flushed down every single year. Do not trust anybody with a penny of your money, and I don't care if it's your best friend that comes into shul that has a great investment. He will take away all you have. You want to buy yourself a piece of real estate, you want to be in the management, you want to go in there, you want to drive down to the building, you want to have your own buildings, go for it. Is in the height. But to take your money, give it to a fund manager, to give it to someone else to manage it for you, he will take your money. Believe in me, so fast. And I'm telling you, in this area, Lakewood, Monsey, Boro Park, in the last 3 years, over a billion dollars, you hear me? Over a billion dollars got flushed down. Finish showing me my job is guilt. Gone. Over a billion dollars on these investments. And all of those investments started off well. Everybody had beautiful sheets, Excel sheets, and they sent you an email with 600 pages. You tell me you have ever read one of these pages? Do you understand anything that it says in these pages? Did you send it to your lawyer? Did anybody verify it? You don't know he's my associate. He has this Cadillac, he comes to shul and he's the tailor. You don't know he is flying his private chopper, his private jet. He gets to shul and he takes all your money, he takes it and he flies in his private choppers. Do not invest by private individual any money. And even to find a good fund manager is also not easy. To find someone that's ehrlich and begleit to make sure that your money gets put into the right places.