Complaint Review: DLG Investments William D Yotty Bill Yotty Teresa Jackson Martin Mair And Dan L. Gootee - Lodi California

May not be conviced yet.....
The following was published in the National Mortgage Professional Magazine.

On behalf of a group of unrelated investors, a lawsuit has been filed in the Los Angeles Superior Court against Fortuno Inc., a prominent Lodi, Calif.-based real estate investment company, which describes itself as a large nationwide buyer of foreclosed homes. The lawsuit alleges that Fortuno and its outside marketing representatives, engaged in illegal acts relating to a hands-off real estate investment program that enticed the plaintiffs to invest money in the purchase and re-sale of distressed homes in Ohio and Michigan with the promise of high returns upon flipping the property to the new buyer.
The lawsuit was filed by the Law Offices of Andrew M. Wyatt, a Los Angeles-based firm. It alleges that Fortuno, calling itself the Costco of Real Estate, misrepresented to plaintiffs that it would sell plaintiffs marketable homes at low-price mark-ups and that it could then help them re-sell the houses to third parties at substantially higher prices. Instead, Fortuno sold plaintiffs homes in poor unmarketable condition with high-price mark-ups while also failing to find qualified buyers.
According to the lawsuit, after purchasing the properties, plaintiffs unforeseeably encountered significant fix-up costs; threats of condemnation by local government officials for safety violations; an inability to sell the houses due to their dilapidated condition and lack of qualified buyers; negative cash-flow; high property taxes; and eviction legal costs when the buyers defaulted on payments. An investors goal was to provide people affordable housing.
In the lawsuit, Fortuno and/or its co-defendants, were sued for 10 violations of law including: Racketeer Influenced and Corrupt Organizations (RICO) Act; untrue or misleading advertising; unfair business practices; professional negligence, negligent and intentional misrepresentation; breach of fiduciary duty; deceit/concealment; unjust enrichment; and restitution/accounting.
Other individuals and companies named as defendants in the lawsuit, include: On behalf of a group of unrelated investors, a lawsuit has been filed in the Los Angeles Superior Court against Fortuno Inc., a prominent Lodi, Calif.-based real estate investment company, which describes itself as a large nationwide buyer of foreclosed homes. The lawsuit alleges that Fortuno and its outside marketing representatives, engaged in illegal acts relating to a hands-off real estate investment program that enticed the plaintiffs to invest money in the purchase and re-sale of distressed homes in Ohio and Michigan with the promise of high returns upon flipping the property to the new buyer.
The lawsuit was filed by the Law Offices of Andrew M. Wyatt, a Los Angeles-based firm. It alleges that Fortuno, calling itself the Costco of Real Estate, misrepresented to plaintiffs that it would sell plaintiffs marketable homes at low-price mark-ups and that it could then help them re-sell the houses to third parties at substantially higher prices. Instead, Fortuno sold plaintiffs homes in poor unmarketable condition with high-price mark-ups while also failing to find qualified buyers.
According to the lawsuit, after purchasing the properties, plaintiffs unforeseeably encountered significant fix-up costs; threats of condemnation by local government officials for safety violations; an inability to sell the houses due to their dilapidated condition and lack of qualified buyers; negative cash-flow; high property taxes; and eviction legal costs when the buyers defaulted on payments. An investors goal was to provide people affordable housing.
In the lawsuit, Fortuno and/or its co-defendants, were sued for 10 violations of law including: Racketeer Influenced and Corrupt Organizations (RICO) Act; untrue or misleading advertising; unfair business practices; professional negligence, negligent and intentional misrepresentation; breach of fiduciary duty; deceit/concealment; unjust enrichment; and restitution/accounting.
Other individuals and companies named as defendants in the lawsuit, include: William D. Yotty, Harry Martin, Barbara Thomas, Bruce Grogg, Sognari International Inc., Steve Francisco, National Realty Inc., National REOS, Mike Sarwari, Michael Hironimus, Phyllis Rockower, Real Estate Club of Los Angeles, Roger D. Cram and Real Estate Brokers International.
The lawsuit is seeking compensatory and punitive damages, plus attorney fees and court costs. In addition, it requests a return of all invested funds and any illegally obtained profits to the plaintiffs, plus interest.
For more information, visit www.amwyattlawoffices.com., Harry Martin, Barbara Thomas, Bruce Grogg, Sognari International Inc., Steve Francisco, National Realty Inc., National REOS, Mike Sarwari, Michael Hironimus, Phyllis Rockower, Real Estate Club of Los Angeles, Roger D. Cram and Real Estate Brokers International.
The lawsuit is seeking compensatory and punitive damages, plus attorney fees and court costs. In addition, it requests a return of all invested funds and any illegally obtained profits to the plaintiffs, plus interest.
For more information, visit www.amwyattlawoffices.com.

This is slanderous and inaccurate I am not a criminal and have never been convicted of any crime I am not involved with any underhanded investment schemes We are a marketing company that puts buyers with sellers and the person who filed this report has no right to make false statements concerning people he has not dealt with It is obvious this person has a grudge with an advisor to my company The history of reports filed by this individual shows that to be true We have currently expanded our company and have over 6000 members We have made this a safe enviornment where buyers can deal directly with sellers to find good solid property deals without going through a daisy chain of representatives I am availible to answer any questions from this person or any one else wanting to know about our company and what we do To just post that people are criminals is slander This person is actually making a false statement and it shouldnt be allowed to be posted without proof of an actual crime or misjustice being perpetrated This individual obviously went to our website and just started picking names That is irresponsible and shouldnt be allowed in todays internet agenda Why? Because now when my name is entered in google, these lies are coming up and it makes an honest business person who has been doing business for years have to answer to someone who he has never wronged and never met. This post has nothing to do with me or my company It is a grudge that they have against a person and should not be played out by naming an entire companies executive staff Dan Gootee