Federal Trade Commission Goes After Real Estate Gurus
The Federal Trade Commission & the Colorado Attorney General went after the late-night guru Russ Dalbey AND one of his testimonials. Yea!!! And Armando Montelongo is under investigation too. "His infomercial boasts that he is "America's No. 1 and top real estate investing expert." Yeah, right...
... The Federal Trade Commission went after one prominent infomercial king and joined forces with Colorado Attorney General John Suthers to take the uncommon step of going after a woman who offered a testimonial.
Russell Dalbey, CEO and founder of the company behind the "wealth-building" program "Winning in the Cash Flow Business" is charged by the FTC with defrauding consumers with what were described as "phony claims that they could make large amounts of money quickly."...
Armando Montelongo parlayed exposure as former host of the A&E network's "Flip This House" into a national slate of free seminars promoting the tactics needed to buy and fix up run-down property for profit. His infomercial boasts that he is "America's No. 1 and top real estate investing expert."
The news team also uncovered that one of the star pupils in the infomercial faced eviction and multiple foreclosures in Nevada. Another claimed to have made $110,000 in eight months, despite the reality of having declared bankruptcy and not having earned more than $17,000 a year.
Read the whole article:
As I say, "Hold onto your wallet & credit cards!"
posted by Bill Tan's Blog @ 7:34 PM
15 comments
15 Comments:
Bill,
I did not know this....I always thought that the TV Gurhu was a large selling machine, but this only goes on to confirm it...Thank you for helping us to stay alert and informed of the perilous environment that we swim in. You are appreciated.
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I afresh did a bartering real estate appraisement in Orlando on a section of acreage endemic by a nice adult who abominably had just absent her husband.
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Well,I got good information about real estate.Thanks for sharing.It help me a lot.I appreciate the person for such a nice work.
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I almost bought into Montelongo. I had just got back from my tour in Japan and desperately wanted to learn how to do real estate. The big ticket training was over $20k. I didn't buy into that program, but I did end up being taken advantage of from another guru; regardless I lost $20k from a different guy that promised a fortune but led me to nothing.
I almost bought into Montelongo. I had just got back from my tour in Japan and desperately wanted to learn how to do real estate. The big ticket training was over $20k. I didn't buy into that program, but I did end up being taken advantage of from another guru; regardless I lost $20k from a different guy that promised a fortune but led me to nothing.
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Well, that's excellent article! I enjoy reading the articles that have good information and ideas to share with each reader.
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I recently visit your blog and reading your post this is very informative tips about property investment thanks a lot for sharing this.
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I don't have a problem understanding that the numbers published by the Trusted Real Estate Association's bean-counters don't add up, we need to look outside once in a while and realize what is happening in our own neighborhoods! It's going on around us all the time, gov't unemployment numbers, yeah, sure....Housing market on the incline, everything out there is rosy and nice, just talk with our politicians, and that falls all the way back to our grassroots "RE Associations" and more! Thank Bill for the reporting, we need to get that out in front of the population with a greater frequency - seems like our media doesn't have enough time to put the right stories together for us! Great Blog, keep up the good blogging!
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