When he's in a position to impose a deal on the other party, he's very skilled at handling it. His counterparties are victims more than bargainers, and he's exceptional at squeezing them and ratcheting up the pain.

I was trying to think of RE deals where a buyer would be in this position, but it was easier to understand getting construction companies to overextend themselves, and/or to accept lower than the agreed contracts amounts - worried that they'll get nothing or less than the amount he's offering now. That everyone should know he's done in spades - especially on little guys.

One other would be to fake a higher occupancy on his condos to induce purchases at higher prices while simultaneously stiffing the contractors. The purchasers find themselves with a higher portion of the maintenance and operating costs lowering the value of their property and draining cash.

In some parts of the IRS code, RE developers can be forgiven a debt and not have to declare it as income. Don't know if it applies, but I suspect it does.

It's all there, he's unfit and floundering around playing to his base to pay them off for keeping him out of jail and continuing his grift.

US Policy FAQ

---

Contact Shrewd'm
Contact the developer of these message boards.