Complaint Review: Barbra Alexander - Internet

In 2008 after receiving a referral from a fellow investor, I did research and due diligence on the Greenlight investment fund and Barbra Alexander and after all checked out I invested $40,000.00 and starting receiving 1% per month interest payment. In 2009, I emailed Barbra Alexander and checked if all was going well at the fund and she stated all was going well so I invested additional $80,000.00.

I continued to receive monthly payments. In late 2009 I received letter that monthly payments will be delayed and payments will be mailed on approximately the 5^th of each month. In Dec 2009 I received a voice mail from Barbra explaining that my monthly check may not clear.

Later I discovered that Barbra's home and office were raided by FBI (I didnt find out until March 2010).  In Jan 2010 I received a letter that fund is having issues and will not be making monthly payments. In Jan 2010 I talked with Barbra via phone and went over the issues with the fund. During that conversation she explained that there were 47 investors totaling funds of approximately $7,000,000. She explained that there was a loss from foreclosures on first mortgages wiping out the 2^nd mortgages (where the investors funds were) totaling approximately $700,000. After this conversation I emailed her that she should be verifying that the first mortgages were current on all other homes that investors funds were in on second mortgages so as to not lose any more of the principal funds. Never received a reply.

On Jan 13, 2010 I completed a withdrawal form for $100,000.00 of funds which should be returned within 30 days as stated via email previously signed by Barbra. In Feb 2010 I received a statement of funds owed. In Feb/Mar 2010 I emailed and call Barbra various times and she was very slow to reply and/or email back (or didnt email back at all)

March 4, 2010 I requested remainder of my funds via withdrawal form $20,000.00 completed and emailed to Barbra. March 2010 Contacted Barbra and she explained she was stepping down as managing member.  March 2010 Contacted by another investor via letter explaining Barbra was being investigated by FBI and SEC. In March 2010 I contacted the FBI and spoke with Field Agent in charge of the case and mailed him a letter with documentation and filed a complaint with SEC. I've also contact my legal council and issued a demand letter to Barbra at her home and office.

You can google the FBI raid that was put in the Monterey Hearld in Dec 09.

Bottom line, rumors are flying and it turns out Barbra had not been returning investors principal funds back for awhile, she had been double talking investors, partners and employees for sometime and was taking a healthy salary, getting her expenses reimbursed,making loans to herself, etc, so on. Not sure how much is true, will have to wait for FBI and SEC on this. What I can tell you is this. I'm not getting any interest checks and I'm unable to get my principal $120,000.00 back. Barbra is not returning any calls or emails, yet she still does speak on the Radio show MONEYDOTS.com, #WOW!  

For your owe safety DO NOT invest any funds with her or any of her companies. I would also suggest not listening to a show with someone who treats their investors in this manner! She can not be trusted!