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| PROTECT YOURSELF FROM SCAMS! Research all business opportunities thoroughly, and never blow off other people's bad experiences. Ask around (and listen!). The Scams101 Message Board is a good place to start. What's that? You've found a Biz Op and you're wondering if it's endorsed by FIB?... Not unless it's listed in MaaMaw's Magnificent Toolbox. |
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FIB - Scams 101
Re: Miligroup - Do you know anyone facing Foreclosure? New SCAM 9/08
Posted By: rhenry In Response To: Re: Miligroup (George Tacknew)
Date: Thursday, September 25, 2008, at 2:12 a.m.(pst)
An email was circulated to all Agents/Brokers/Loan Officers of MILI, including previous or former MILI Members. Send by Lang Lequang, sister of Cuong DO, the MILI Master.
Inviting them to:
Join them back for something they think they have that will lure all previous members, basically to learn how to cheat the Lenders.Talking about very unethical and down right doing the wrong thing.
MAKE NO MORTGAGE PAYMENT FOR UP TO 2 YEARS, STAY IN THERE HOMES. GET PAID REFERRAL FEE. THEY ARE OFFERING IT TO CALIFONIA, FLORIDA, TEXAS. WHERE THEY POPULATE THE SAME AGENTS AND CLIENTS WITH HOUSES USING TPC CONCEPT PREVIOUSLY AND NOW MOST OF THOSE HOMES ARE IN FORECLOSURES.
THIS IS LANG'S SOLUTION AS WELL AS THE MILIGROUP:
APPARENTLY THEY FOUND LOOPHOLE THAT CAN DO THIS, STAY FOR 2 YEARS USING LAW FIRM WHO PROBABLY IS JUST AS CROOKED AS THEY ARE. FOR TEACHING THAT CONCEPT BY INTENTIONALLY NOT PAYING THE MORTGAGE AND OF BEING ABLE TO STALL THE FORECLOSURE. 2 YEARS???? COMMON THIS PEOPLE DONT KNOW HOW TO STOP ON DOING FRAUD AND SCAM. ANYTHING TO MAKE MONEY.
IT STATED, YOU CAN STAY WITH YOUR BROKERAGE, NO NEED TO TRANSFER YOUR LICENSE...WHY NOT? IF YOU GET SCREWED, THEY ARE NOT PART OF IT! IT IS LIKE SETTING UP OTHER BROKERAGE TO FAIL WITH THOSE AGENTS.
THEY THINK PEOPLE ARE ALL LIKE THEM, SCAMMERS.
IT IS ONE THING TO BE ON HARDSHIP BUT TO TEACH CLIENTS/AGENTS TO MANIPULATE AND TAKE ADVANTAGE OF THE MARKET BY CHEATING, LYING, AND BEING DECEITFUL.
WELL FOR ANY OF YOU WHO THINKS THIS MIGHT BE TEMPTING TO DO, THINK AGAIN!
THEY HAVE BEEN REPORTED TO DEPT OF REAL ESTATE (AS IF THEY DONT ALREADY HAVE TOO MANY VIOLATIONS TO SPEAK OF) AND ANY REAL ESTATE BOARD THEY ARE PART OF AND ALERTED ANY LENDERS AND THE LAW FIRM HELPING THEM OUT IS BEING INVESTIGATED.
BY THE WAY, THAT EMAIL WAS CIRCULATED TO BANK REPRESENTATIVES THAT THEY USE PREVIOUSLY AND CONTINUALLY BEING CIRCULATED FOR THE PURPOSE OF STOPPING THEM ONCE AND FOR ALL FROM DAMAGING MORE PEOPLE IN THE PROCESS.
CONCERN AND RIGHTEOUS CITIZEN.
>> The Mili Group Inc.
>> CEO Cuong Do
>> Corporate Address
>> 2272 Quimby Road
>> San Jose, CA 95122>> A Multilevel Marketing Company that utilizes seminar
>> type presentation to promote financial education -by learning to do
>> what the rich are doing so that the poor and middle class can be rich as
>> well - once you join you are prodded to get licensed to sell insurance,
>> mortgage, real estate and join FDI (another scam MLM), while you are
>> getting your respective licenses you are persuaded using cult-like NLP
>> manipulation to refinance your own home and strip out the equity using a
>> power option arm (start rate 1%, next year recast to 19%). So now you your
>> hard-earned borrow money at hand to buy multiple (overpriced [collusion
>> with Developers]) properties that you expect to go up in value by at least
>> 20% a year (because your paying at 7% fully indexed rate - [carry
>> arbitrage - sophisticated financial traders use this concept everyday] but
>> lo and behold - your properties have gone down 20% in value and you are
>> still paying interest on the money. In essence, since you have been
>> self-consuming and your "upline" mentor had just made big fat
>> commissions on you (cause you are just getting points still) its like a
>> buyers club for suckers.>> The Total Planning Concept or TPC - or Totally pure crapola
>> The highest probability outcome - is that you are to be foreclosed
>> within six months on those "investments," your equity has
>> 'poofed' vanished, your credit is ruined for seven years, you
>> now own a worthless indexed variable life policy with a surrender
>> charge to ten years (your "upline" made a whopping 20%
>> commission
>> on your hard-earned cash), and all your friends hate you because they
>> are in they same financial wreckage that you brought them into,
>> your family hates you as well because they got suckered in and are
>> big losers, your husband or wife hates you because you lost all
>> your savings trying to support all those dubious
>> "investments.">> I thought you where so "smart" and these guys where going
>> teach you to be a real Financial Jockey.>> Looks like you just got "ridden" by Cuong Do and he smiles
>> while your money is sitting in his accounts offshore.
>> They prey on immigrant and minority communities because
>> of the lack of financial sophistication, but promise to
>> educate and uplift the poor, what an irony. They have
>> devised numerous schemes to defraud mortgage companies by
>> buying multiple properties as a single owner occupant (human
>> cloning technology has advanced)
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