real estate – Piazza Carlo Giuliani Wed, 09 Mar 2022 05:00:00 +0000 en-US hourly 1 real estate – Piazza Carlo Giuliani 32 32 How two men allegedly tricked investors with a story of rare wines Wed, 09 Mar 2022 05:00:00 +0000

The two Englishmen started showing up at investor conferences in 2015, armed with a tempting proposition. Participants could, through their London-based wine brokerage, Bordeaux Cellars, lend money to wealthy struggling borrowers who needed quick loans, no questions asked. Lenders would receive interest at the rate of 12%, paid quarterly.

Normally, such a high interest rate meant the loan would be risky. This is not the case, the two men asserted – these loans would be guaranteed by prestigious wines from the cellars of the borrowers, transferred in the name of the lender in air-conditioned and secure warehouses supervised by Bordeaux Cellars. And the loans would be capped at 35% of the market value of the wines.

“What happens in the event of default? asked Stephen Burton, the 57-year-old chef of Bordeaux Cellars, at a 2015 conference in Cancun. “We sell the wine, bearing in mind that you only loaned 35% of its value. It’s very easy to sell quite quickly.”

“A lot of clients are now cash-strapped real estate developers,” Burton partner James Wellesley, 55, said at a 2017 conference in Las Vegas. “We only lend against investment grade wine….We mainly deal in French wines, some of the best Californian wines [like] Howling eagle.”

A third team member, Lindsay Gundersen, told attendees at a conference in Las Vegas in 2018, “We charge the borrower 16%, so they pay all the administration costs…Insurance, air conditioning, etc., is the cost of the borrower, not the lender.”

The promise of 12% interest to the lender, free of charge, on a secured loan in an era of historically low interest rates seemed too good to be true. And it was.

Last week, Burton and Wellesley, CEO and CFO of Bordeaux Cellars respectively, were indicted by a grand jury in federal court in the District of Brooklyn for wire fraud and money laundering. In total, Burton and Wellesley are charged with inducing investors to “invest more than approximately $99.4 million in term loans allegedly brokered by Bordeaux Cellars,” the indictment states.

“Unlike the fine wine they claimed to have, the defendants’ repeated lies to investors have not aged well,” said Breon Peace, U.S. Attorney for the Eastern District of New York.

Burton and Wellesley (both used multiple aliases) had already been hit last year with a civil judgment from a London High Court involving the same scheme to scam at least 161 people. The men have been ordered to repay over £56million in losses by their clients.

The idea behind Bordeaux Cellars, Burton told CNBC business reporter Jane Wells in 2013, came to him while reading a Sunday time item. “There was a pawn shop here in London that had a warehouse full of Aston Martins and Ferraris. Literally people were just coming into that warehouse, handing them the keys for a cash loan. So I just put two and two together, and I thought, you know, we could do this with wine.”

The operation he created, in the tale Burton told Wells, quickly made 200 loans worth $30 million. Burton even claimed that a divorcing American dropped off two dozen cases of Screaming Eagle to get “quick cash.”

But Burton’s business plan is a puzzle. Why would someone wealthy enough to own two dozen cases of Screaming Eagle, Napa Valley’s most expensive cult Cabernet, put up their award-winning wine for a loan at 16% interest? Surely there were better options.

In fact, there were no such borrowers. As their business grew, Burton, now with partner and CFO Wellesley, focused entirely on finding lenders willing to pour in, falsely claiming they had borrowers in waiting, according to the indictment.

Additionally, these supposed borrowers were allowed to hide their identities behind individual corporate shells. Over 60 of these shells (the list begins with “Alsop” and “Apple Tree” LLC and ends with “Zermatt” and “Zug”) were registered in Belize but controlled from London by Burton. The reams of documents to be drafted for the loans, and to allegedly give the appearance of legitimacy, appear to have been drafted by hired lawyers.

According to the High Court complaint, some of the money allegedly lent was used in the Ponzi scheme to make interest and principal payments to the lenders. The rest was deposited in bank accounts linked to Burton and Wellesley, and was used to buy wine and “gold, other goods and services”.

Seemingly full of money, Burton has become well known in London wine circles. “Stephen has been around town for years opening crazy bottles,” said Alex Turnbull, then at wine company Justerini & Brooks and currently head of private clients at Jeroboams. wine spectator. “I once heard him say with great confidence that he had the largest collection of Penfolds Grange in the world. I told him that I knew people who also had large Grange collections and said: “Maybe you should meet them. He became a little suspicious. So I had my suspicions for a very long time, but working in the business I struggled to voice them or find someone to agree with me that it all sounded very suspicious.

In 2019, quarterly interest payments to Caves de Bordeaux lenders came to an abrupt halt. An American investor sought advice from JustAnswer, a British online legal service. “I invested in a company called Bordeaux Cellars in the UK,” the investor wrote. “In this investment, I am the lender of two loans and each loan is $100,000…. I am supposed to receive the interest payments quarterly and the last one was due March 12. I did not receive the payment and I have tried to contact the Caves de Bordeaux several times and there is no response to date.

“I undertook a little research,” replied JustAnswer’s lawyer. He had learned that the two loans had been made to limited liability companies called “Gstaad” and “Pemberley” Investments, both among 61 similar limited liability companies registered in Belize and listed in the civil complaint against Bordeaux Cellars before the High Court. Noting that Bordeaux Cellars “has no business history” and “has not submitted audited accounts”, the lawyer informs the borrower that he has little recourse to recover his funds.

Apparently neither the interrogating victim nor the lawyer knew that on Valentine’s Day 2019, Burton was arrested at a hotel in Kent, England. In his bedroom, police found two fake passports, expensive watches, precious metal bullion and South African and British currency worth a total of nearly £1million. Six months later, Burton pleaded guilty to possession of false passports and money laundering and was sentenced to four years in prison.

Wellesley was arrested on February 4 and is currently in prison in England. The U.S. Attorney for the Eastern District of New York is considering extradition. Wellesley has already been convicted and imprisoned twice for financial crimes.

But Burton is no longer in custody. In 2020, he was released early from prison, reportedly due to COVID-19 issues. His current whereabouts are unknown.

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EOH eyes UK and EU markets for growth opportunities Tue, 08 Mar 2022 06:51:08 +0000 EOH is looking for growth opportunities outside of the country. EOH says it is well placed to expand into new markets, with sub-Saharan Africa, the UK and the EU as targets. The technology group sold non-core assets to free up cash to reduce debt. Data analytics, …]]> growth opportunities outside of the country.” height=”351″ width=”625″ class=”img-lazy”/>

EOH is looking for growth opportunities outside of the country.

  • EOH says it is well placed to expand into new markets, with sub-Saharan Africa, the UK and the EU as targets.
  • The technology group sold non-core assets to free up cash to reduce debt.
  • Data analytics, cybersecurity and cloud consulting to new customers are seen as another growth area.

Technology group EOH – which embarked on a recovery strategy following the outbreak of a corruption scandal involving senior executives – plans to expand into new markets as part of its growth strategy.

The company is in the process of engaging investors to define its strategic options and is seeking South African companies with a UK or EU presence for potential growth opportunities. Increasing sales of software development, data analytics, cybersecurity, clean IP products and cloud consulting to new customers are seen as another growth area.

“EOH is at the point where it needs a right-sized capital structure to prepare the business for the resumption of a growth-oriented strategy driven by cross-selling opportunities,” the company said.

The company sees itself as well positioned to expand into new markets and customers through a profitable service offering, focused in sub-Saharan Africa, Egypt and the UK.

Part of its turnaround involved debt reduction, which led it to sell some of its assets. The company’s debt stood at just over R4.5 billion in the 2018 financial year, which it said was the result of an “aggressive acquisition growth phase”.

Debt has been reduced to around R2 billion, with R1.4 billion repaid.

Its high debt levels have been compounded by a “complicated structure” with 272 legal entities and duplicate management, sales structures and real estate leasing inefficiencies. It posted a loss of R1.3 billion in 2020 and turned profitable in the full 2021 financial year.

An amount of R750 million is expected from the disposal of non-core assets.

“Resizing the capital structure will allow EOH to pursue a growth strategy, immediately improve earnings and ultimately create shareholder value.”

EOH’s reputation took a hit in 2019 when an ENSafrica investigation uncovered a web of bribery, bribery and overpayment of corporate development providers in a circle involving its senior executives. Most of the questionable transactions involved the firm’s subsidiary, EOH Mthombo, which had major contracts with the public sector.

Computational Medicine and Drug Discovery Software Market Expected to Witness Amazing Growth by 2029 Tue, 01 Mar 2022 18:54:44 +0000

A2Z Market Research has published a new research study on Global Computational Medicine and Drug Discovery Software Covering the Micro Level of Analysis by Competitors and Key Business Segments (2022-2029). Global Computational Medicine and Drug Discovery Software explores in-depth study on various segments like opportunity, size, development, innovation, sales and overall growth of key players. The research is carried out on primary and secondary statistical sources and consists of qualitative and quantitative details.

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Some of the major key vendor profiled in this report are Biognos Ab, Rhenovia Pharma Limited, Chemical Computing Group Inc, Entelos Inc, Nimbus Therapeutics Inc, Schrodinger Llc, Crown Bioscience Inc, Leadscope Inc, Dassault Systemes, Compugen, Genedata Ag

Since analytics has become an integral part of every business activity and role, the central role in today’s business decision-making process is mentioned in this report. Over the next few years, the demand for the market is expected to increase significantly globally, enabling healthy growth of the Computational Medicine and Drug Discovery Software market is also detailed in the report. This report highlights that the cost structure of manufacturing includes material cost, labor cost, depreciation cost, and cost of manufacturing procedures. Pricing analysis and analysis of equipment vendors are also done by the analysts of the report.

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Global Computational Medicine and Drug Discovery Software Market Segmentation:

Market Segmentation: By Type

Database, software, others

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Computational Physiological Medicine, Drug Discovery & Development, Medical Imaging, Disease Modeling, Predictive Drug Target Analysis, Cellular Simulation, Simulation Software

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Doley and Liberty Bank executives ring the closing bell at the New York Stock Exchange Fri, 18 Feb 2022 21:34:04 +0000

Ambassador Harold Doley

NEW ORLEANS — In 1973, New Orleans-based Liberty Bank helped New Orleans native Harold Doley buy a seat on the New York Stock Exchange. Half a century later, Doley was honored by the exchange and joined by Liberty Bank executives as he rang the bell that ended the trading day. The event took place on Friday, February 2. 18.

Doley, a former investment banker, bought his seat on the stock exchange with funding from Liberty Bank and Trust Company, which had been established less than a year earlier. He and Liberty Bank Chairman and CEO Alden J. McDonald Jr. appeared on the Today Show that year to mark the occasion.

Coming from a prominent New Orleans family, Doley began his career in 1968. He worked for Wall Street firms before buying his own headquarters. According to Wikipedia, he is the only African American to have owned a seat in part because the exchange no longer sells individual memberships. In the 1980s, Doley earned the title of United States Ambassador when he served as the country’s representative to the African Development Bank and Fund. The AfDB is a development finance institution owned by the governments of 50 African countries and 25 non-African countries, with 800 employees and assets of $50 billion.

“Funding Harold’s seat was a no-brainer,” McDonald said in a press release. “Freedom was born to help bring African Americans into the mainstream of the economy. There’s nothing more ‘mainstream’ than owning a seat on the world’s largest stock exchange.”

Liberty Bank and Trust is a designated MDI (Minority Depository Institution) offering personal, business, mortgage, auto, real estate, and “freedom fast” loans to customers. Liberty has since grown its assets to over $1 billion and expanded to 10 states. More information at

]]> Alphabet Stock Just Split – What Does It Mean and How Does It Affect Your Investments? Sun, 06 Feb 2022 16:43:41 +0000

stocknshares/Getty Images/iStockphoto

When Alphabet stock split earlier this month, many investors saw their net worth rise rapidly. The 20-to-1 stock split meant that each share of Alphabet, Google’s parent company, was now worth 20 shares at 1/20 the price. However, a stock split makes each individual stock more affordable for investors. This usually results in more purchases, which leads to an increase in inventory. In the case of Alphabet, the stock rose 9% in the secondary market after the split.

See: Facebook founder Mark Zuckerberg loses roughly $30 billion in wealth after Meta Stock crash, though Musk still holds record for single-day loss
Find: Top High-Dividend Stocks You Should Consider For Your Portfolio

This means that people who held one share of Alphabet at $2,752.88 now had 20 shares, each worth $137.64. But the 9% jump resulted in a gain of more than $15 for each share, or $300 for 20 shares.

But what exactly is a stock split?

As the name suggests, a stock split occurs when each stock is divided into multiple stocks. For each share a shareholder owns, he will receive additional shares. In the past, stock splits happened frequently when a stock reached $100. Today, they rarely occur – and usually when a stock’s price rises rapidly and reaches territory where it would be unaffordable for many investors.

A four-for-one stock split means that each investor would get three additional shares, each worth a quarter of the original stock price. Stock splits can be particularly relevant for stocks that pay dividends. In a four-to-one split, for example, investors who were receiving dividends on one stock would now receive dividends on four stocks.

Stock splits generally do not affect a company’s market capitalization, except for any increase the stock may experience after the split due to more buyers being able to afford it. to buy shares. S&P 500 stocks tend to gain 5% in the year following a split, with a 2.5% rise occurring immediately, The Wall Street Journal reported.

However, in today’s investing world, where many apps allow investors to buy fractional shares, splits have lost much of their relevance, which is why we don’t see them as often.

When Stocks Divide Unevenly

Sometimes a company splits a stock due to organizational changes within the company. For example, last Tuesday AT&T announced that it would spin off its WarnerMedia division and merge ownership with Discovery. As part of the company’s spin-off, AT&T shareholders received 0.24% of a Warner Bros. share. Discovery for every AT&T stock they held.

AT&T also decided to cut its dividend payments from $2.08 per share to $1.08 per share. As a result, instead of seeing AT&T stock rise following the split, AT&T stock fell 4%.

See: Trouble ahead: Data shows baby boomers have most of their money in stocks as the market braces for a correction – here’s what you can do
Find: Top High-Dividend Stocks You Should Consider For Your Portfolio

What should investors do when a stock is split?

Bearing in mind that most stocks go up after a split, now might be a good time to hold on to your investments. However, you might want to assess your portfolio for its diversity, to make sure it’s not too biased towards fractional investing. You may also want to talk to your financial advisor about the best money moves to make with your new, growing portfolio.

More from GOBankingRates

About the Author

Dawn Allcot is a full-time freelance writer and content marketer with interests in finance, e-commerce, technology, and real estate. His long list of publishing credits includes Bankrate, Lending Tree and Chase Bank. She is the founder and owner of, a travel, technology and entertainment website. She lives in Long Island, New York, with a veritable menagerie that includes 2 cats, a rambunctious kitten and three lizards of different sizes and personalities – plus her two children and her husband. Find her on Twitter, @DawnAllcot.

New ways to buy and sell farmland Tue, 25 Jan 2022 18:45:37 +0000

Farmers today don’t buy land with a handshake over the fence, like grandpa and grandma or even dad and mom might have done. Sales methods such as sealed bids and online auctions are becoming more common, and the key is to find the one that best suits the size, type and circumstances of the farm operation.

“There are more small parcels of land being sold by sealed tender,” says Sheldon Froese, a Manitoba realtor with Royal LePage Riverbend Realty Farm Division. “Generally it wouldn’t be on big farms, it would be on something without buildings.”

This has caused controversy in some communities, adds Froese.

“People might think they don’t have a fair chance to buy the neighbor’s land because it’s a sealed tender,” Froese says. “A lot of times we get involved to try to make the process a little more transparent, so people understand they have the right to make an offer. But at the end of the day, the seller has the choice to do what he wants.

Some buyers still prefer to go the traditional real estate route, although this process is significantly more complicated than before. The first question real estate agents typically ask their clients is whether they’ve spoken to their accountant and other professionals, Froese says.

“When I started doing this over 20 years ago, we went to see farmers when they were about to sell. We would list the farm, find a buyer and sell it. Now there’s a lot more involved,” says Froese. “There are tax laws people need to know, and if the reason for selling is retirement, they want to make sure they’re doing it right so they have enough money for retirement. For the buyer, he wants to make sure there are no hidden surprises, especially if he is buying a company rather than just assets.

A different approach to selling farmland

Saskatchewan real estate agents Tyler Badinski and his brother Vince are taking a different approach to selling farmland, and they report clients and professionals they deal with say it fills a void that’s going to be increasingly important. given the huge transfer of wealth about to take place over the next decade in agriculture.

“Today there are a lot of farmers over 55, with no succession plan in place, and that can make it difficult to sell, especially to family, because values ​​have inflated so much,” Badinski says. “Growing up on the farm, we had a succession plan, but no one knew what it was because we didn’t really talk about it. So, I’m passionate about helping our customers make sure they’re actually ready for it. What sets us apart is that we sit down with the lawyers, accountants, financial planners, agricultural advisers and say, “Is this client ready? Did they have the necessary discussions? Are they prepared for taxes? »

Tyler Badinsky.


If necessary, Badinski says he will advise a client to wait to sell if they are not ready.

“We actually talked one client off of listing his farm because he wasn’t financially prepared,” he says. “The tax implications were in the hundreds of thousands for him to sell at the time rather than wait a year or two later. We never advise outside of our scope of our license but growing up on the farm gives us a lot of understanding and empathy for what they are going through so I am able to communicate with customers about their situation and point them in the right direction. guidance as needed. »

Badinski, who founded Serca Realty five years ago, believes the role of agricultural real estate brokers is changing and a big part of that process is making sure sellers know the value of their lands.

“Another reason I got into this is to make sure sellers were made aware of the value of their land and that they weren’t leaving money on the table,” he says. “You always have to have a fair deal for everyone, but a fair deal shouldn’t be a buyer buying for $500 an acre less than he knows it’s worth just because the seller doesn’t. not.”

He also sees real estate being viewed as less of a one-deal deal going forward.

“If a Ma and Pa operation with 10 neighborhoods and no children to care for sold those 10 neighborhoods, it was still considered a one-time transaction, and that’s it,” says Badinski. “We take the approach that we sit down with our clients’ other professionals to make sure they are ready before, during and after the sale.”

The virtual world of agricultural real estate sales

Although farmers have long been accustomed to buying equipment at auction, and these auctions are increasingly taking place online, are they so eager to buy farmland in this way?

The answer is yes, according to Jordan Clarke, director of sales at Ritchie Bros. Auctioneers, which has been selling traditional and online auctions for 60 years in Western Canada.

Jordan Clarke.


“Farmers are certainly becoming more comfortable with online real estate auctions, and around Edmonton and northern Alberta it’s almost the preferred method,” Clarke says. “We have had very successful sales across Western Canada for farmland.”

To some extent, the COVID-19 pandemic has caused many companies to change their business model to online bidding, but online real estate auctions have been gaining momentum for several years as they offer a lot of convenience, flexibility and various options depending on the seller’s situation.

Selling real estate at online auctions is really no different than selling farm equipment. The ultimate goal is to create competition and get the best result for the seller, which practically opens up a much larger and potentially larger audience.

“The more people involved in the auction process, the more demand there is,” Clarke says. “Generally they bid against each other and push the price up. And that’s a very good scenario for a seller, because that’s what he wants, he wants competition and he wants to sell at the best price.

Online auctions may not be for everyone, but for some, especially retired farmers, the certainty of a sale can be a motivating factor to use this method instead of going through a real estate company or tender.

“With a farmer retiring, his farmland can represent up to 80% of his total wealth in some cases,” Clarke says. “Their retirement is integrated with their land, their improvements, their yard and their equipment. When they reach the point where they want to sell and move on to the next stage of their life, with an unreserved auction, there is certainty of a sale on auction day.

The internet has definitely opened up many more options in terms of selling agricultural real estate than ever before. Clarke says Ritchie Bros. may also offer a direct commission on the proceeds of the sale, or a guaranteed net price which is set before the auction and ensures that the seller gets a guaranteed amount regardless of what happens in the auction.

“Through our online marketplace, Marketplace-E, clients can also test the market with a reserve, so they can accept offers and see what their property is worth,” says Clarke. “We have an option that will cover any seller’s risk tolerance.”

There are also benefits for buyers.

“There are a lot more variables when it comes to selling or buying real estate, so buyers sometimes need more time to think things through,” Clarke says. “With an online or timed auction, they can pass that time, as opposed to a traditional live auction where the auctioneer sings for a minute, and they have 10 seconds to raise their bid before someone ‘one else does.’

Five years ago, most auction companies held live auctions, and it took a lot of capital to get into the auction business. Since COVID-19, with such a massive shift to online services, these barriers to entry have largely been removed, so many new businesses are offering auction services. Sellers therefore need to do their homework and ensure that the people they are dealing with are qualified and compliant with the rules and regulations not only for real estate sales but also for the auction.

“We sell from British Columbia to Manitoba and the rules and legislation are different for each province, so we have worked hard to ensure that we are 100% compliant with the requirements and rules of these jurisdictions to give confidence to our customers,” Clarke said.

Release the pressure

Whether they’re selling a few quarters or the whole farm, it can be a stressful process for farmers who have to make a tough decision about who to sell the land to, and that’s where an online auction can help. to relieve some of the pressure.

“The majority of our customers live in a rural setting, where they have friends, family and neighbors that they have worked and lived with for many years, and no matter who they end up selling to, there will be challenges. people who might be upset. didn’t get a chance to make an offer,” Clarke said.

“When a farmer puts land up for public auction, the pressure is no longer put on the farmer because everyone has an equal chance of clicking that auction button, and ultimately whoever has the highest bid receives this real estate.

Clarke also advises farmers not to sell themselves short. “Sometimes farmers don’t fully realize the competitive scope of the market,” he says.

“They may want to sell to a neighbor they like, and that’s fine, but there could be other people who would have paid more money. It’s a high-demand market right now, and there are farmers looking to expand, so they’re aggressive and ready to spend more money. Just because a certain amount of dollars per acre has already bought land in an area doesn’t mean it will tomorrow or the day after. Through the auction process, we can provide a clear guarantee that the low end is covered and there is price discovery on the high end with no cap on value. It really is the best of both worlds.

Watch Ads, 100% Discounts, and Other Scams You Should Be Aware Of Sun, 23 Jan 2022 07:30:00 +0000

If you thought after the fall of Destiny or Jubok that people would have learned their lessons about financial scams, you better think again. After a generation got ripped off in the analog world, today people are getting ripped off digitally.

Getting scammed not only results in the loss of hard-earned money, but it can often be very embarrassing, which is why many people don’t even report such scams until it’s too late.

I have met many deceived people who refuse to say how they lost their money. Why? Because scams, when exposed, turn out to be very attractive. As a result, “non-scammers” often scoff at the gullibility of scammers. Those who get scammed are even called “greedy” for wanting to make money so easily.

So even after losing a large chunk of your fortune, you will get little sympathy from the public. Getting your money back through government interference is also a long and arduous process.

A few months ago, while investigating a so-called e-commerce platform called Jeka Bazar in Rajbari district, a concerned government official revealed his annoyance to this reporter about people falling into a trap like earning money by watching advertisements. “Obviously you can’t make money like that. Do you get paid to watch a TV commercial?” asked the official.

According to some of the victims scammed by Jeka Bazar, after media coverage and government interference, the scammers changed their names and continue to pursue the same scam.

The end of a certain group or a certain brand does not necessarily ensure the end of this kind of scam. It is therefore very important to know the types and nature of different scams to avoid them.

If you want to know how digital and analog scams operate across the country and raise awareness about them, this article is for you.

Earn by watching ads

There are several groups like ringID, Reward Rupee or Jeka Bazar who pay to watch ads. Some of these companies, after media reports and government interference, ceased to operate, but some rebranded themselves with new names and continued to commit the same scams.

Thousands of people – despite being able to detect such traps with a single Google search – regularly fall into the trap.

Ads that watch scammers sell various packages to people.

For example, a package might require you to purchase 100 IDs for 130,000 Tk. If you watch a certain advertisement for 30 seconds from each of your IDs, you will be paid a certain amount of money. You can earn around 10,000 Tk per month with your 100 IDs.

In the first months, the payment will come very well. But soon you will see that your income per ID drops.

Unless the scammers plan to disappear soon, they will ask you to buy more IDs. Why? Because at the end of the day, you get paid with your own money. Watching advertisements does not bring in a penny.

So be aware of this digital scam. Even if you have been scammed before, do not spread it by inviting new people to join because the scammers will ask and lure you with various offers.

Unreal discounts

We’ve seen ardent Evaly fans castigate journalists and newspapers on social media for exposing the true nature of this ‘e-commerce’ company.

It’s hard to make some people believe that companies that offer 60% discounts or “cash backs” of up to 100% to 150% are making an unreal offer. After Evaly, many such companies emerged. For example, Dhamaka, Dalal Plus, Qcoom, etc.

There’s no doubt that saving 60% on an expensive fridge is a lucrative deal. But ask yourself, is this a realistic business model? For how long?

What they did, in the name of “e-commerce”, was to invest your money in something or store it in banks to earn interest. If you’re lucky and they haven’t already laundered all the money overseas, you could receive your product months after ordering it.

There are many reports of customers ordering a particular product and getting back nearly 100% of the money they spent on the product. Later, after eating biriyani (in the case of Evaly’s food section involved) with the money partially returned, their wait for the ordered product would never end.

So, is it wise to invest your hard-earned money in such risky deals?

Also, Evaly may be gone for now but the model remains; and you will come across many such groups with new names in the future. Maybe they can get bigger celebrity endorsements too, but learn to question their intent and be aware.

The “halal” scam

Do you remember the Ehsan group? An Islamic preacher named Hafizur Rahman said that anyone who speaks ill of the aforementioned group would be a ‘munafiq’ (fake Muslim).

The group claimed to provide a “halal” way to earn money.

The offer involved you giving them money which they would invest in an Islamic Sharia approved business and returning your money with a profit that would be ‘Islamic’, not like bank interest, which was ‘haram’.

To encourage people to give them money, the scammers would organize ‘waz mahfils’ to convince devout Muslims to give them their hard-earned money.

Last October, the Rapid Action Battalion (RAB) arrested Ragib Ahsan, the group’s chairman, accused of embezzling more than a billion taka!

The group has embarked on various business ventures such as “Ehsan Multi-Purpose Cooperating Society” and “Ehsan Real Estate and Business Builders Limited” with money from their supporters. The crooks embezzled poor people’s money to make a fortune.

Ehsan Group is now under the radar, but the scam model is open; so be careful.

Unregistered online money lenders

At some point, everyone faces a situation where we need a small amount of money, but there is no one to help us. Banks don’t deal with the small loans that students mostly need at the end of the month.

While online microloans are not illegal per se and are in fact encouraged in some quarters to expand financial inclusion, some groups are taking advantage of this trend and creating apps without properly following regulations. Law enforcement recently arrested a group of people involved in the creation of applications such as Cashman, Tkala, Personal Loans Online, RapidCash- Quick Online eLoans App, AmarCash-Personal Loans Online, Cashkash-Fast Loans Online and CashCash .

Besides charging extremely high interest, they charge an unreal amount of late fees if you delay payment for a day or two.

To make sense of the numbers, some of these apps will charge up to Tk 250 for loans of Tk 2,000 for seven days. If you delay payment for a day or two, they may charge you an extra Tk 250 or more.

The higher the loan amount, the higher the interest and late payment charges.

The digital sphere has created immense ease and opportunity for consumers and businesses. As a result, the internet is teeming with various businesses and activities. In this context, opportunists and fraudsters seek to make quick money by deceiving people. Consumers should be aware of these scams, as what we have discussed here are just a few prime examples.

Op-Ed: Why is capitalism not evolving? An ancient, myopic, insane capital structure can’t survive what’s to come Sun, 16 Jan 2022 23:20:03 +0000

The hideout was the largest seizure of drug money in Panama’s history – Copyright Afghan Taliban/AFP/File STR

You wouldn’t think capitalism would be a hot topic these days, but surprisingly, it is. Existing capital structures have failed miserably in many ways over the past few decades, and the pandemic has seared the message onto the world.

An already unbalanced and unfocused situation has become so much worse. Wealth is ridiculous. So few people are truly wealthy, and many cannot afford the basics. Even millionaires can be wiped out by a medical bill. Education is incredibly expensive, which makes obtaining essential skills so difficult.

Credit is totally out of control. China’s Evergrande debt mountain is a case in point, threatening to do real damage to the credit market. It’s not the only one either. There are many publicly traded companies that would be fully leveraged. That’s about as unhealthy as it sounds. People have bought and own all this debt. Debts can devalue to zero.

In the past, credit was a huge engine of economic progress. It is now a gigantic, formless and unquantifiable monster. This is a huge debt, much of which is questionably recoverable. Depreciations are more or less routine. This money came and went, and was lost to both debtors and creditors.

These are just a few of the ways capitalism now regularly creates more problems than it can solve:

  • The great global price gouge systematically cleans people up. Personal capital can and usually does erode quickly.
  • Affordability is non-existent for everything from rent to education to child care to something as basic as buying a home.
  • Financial security is just a legend of the past for the last two generations. Their job will be a stop/start/contract job. It won’t and can’t be the 40-year-old paying off a mortgage scenario. They simply won’t be able to get loans, even if they can claim that they can afford the insane housing prices.
  • The “distribution of wealth” is a bad joke. How can you still think that wealth is “distributed”? It’s not. Real wealth has shifted to the upper brackets and will likely remain there.
  • More common is “wealth dilution”, in which wealth gradually decreases as estate capital is divided into smaller and smaller amounts. Very few families can stay rich for more than a few generations at best.
  • The wealthy regularly avoid tax and put the costs on the lower brackets. This is real capitalism at work; for himself and no one else.
  • “Get a job” no longer works in terms of creating personal capital. Unless you have a very solid salary, you basically have a subsistence income. You can work from 17 to 70 and be as broke as when you started. The big resignation is if nothing else realistic in that sense.
  • In the future, employment as it is today will not even exist. It’s more likely, ironically enough, that you’re working from home on multiple jobs. The good news is that multiple income streams work and you don’t have to worry about working for a crazy employer when you have other options. The bad news is that this way of making money is like being a freelancer – Feast or famine, more than likely famine. It’s very delicate.
  • Black money is now a massive and nasty player in the global economy. The illegal money is now probably worth trillions. This money is dangerous, fuels speculation, drives ups in things like the stock market and Bitcoin, and causes damage through market manipulation. This type of capitalism is entirely destructive and totally irresponsible.
  • Real estate appraisals are typical traditional assets. Few people will look at a real estate appraisal without questioning it. This unspeakably large market absorbs capital, real and fictional, generating much financial fiction as “capital”. Not encouraging, is it?

Doesn’t evolve at all

None of these issues are seriously discussed anywhere on Earth. The daily disasters of capitalism continue to follow one another. Like a train without a driver, the inertia of capital movements simply continues to go in all directions.

The obvious future sinking of capitalism is therefore not even a subject. It could be like Russia after the fall of the Soviet Union. worthless assets; ripped off to pay for food or bills. A real kleptocracy, even worse than the current version, is more than likely.

The fact is that the capitalist dinosaurs are doing well. They like it like that. Asteroid? What asteroid? You mean the one that will destroy assets like french fries that have to hit some time in the next ten to twenty years? No problem.

This is the mindset that will destroy the world in ten years. The big stupid system that couldn’t even manage itself will fall under the weight of its own suicidal imbalances. The current form of capitalism is not even good accounting, much less an “ideology”.

Healthier survival options exist

The bottom line here is that the unaffordability pandemic will hit the fan sooner or later, probably sooner. Hardly anyone can handle the core costs even now.

The survival of fundamental capital requires:

Services: Share the costs. Public ownership is NOT socialism. It’s common sense. If you split the bill at the restaurant, does that make you a communist? Barely. Education, housing and health MUST be accessible and easily affordable. After all, your taxes paid for it in the first place. Why pay twice or three times?

Equity: A recent study by the Australian Bureau of Statistics showed that homeowners are seven times more economically productive than non-homeowners. So why is the entire capital system so determined to make home ownership impossible?

Taxes: There’s an old chestnut that’s been floating around the world for decades: “tax loopholes.” There is nothing like that. Either something is taxable or it is not. Taxes should be fair, but there should be no question of not collecting them.

(In fact, you could abolish taxation entirely with a proper non-tax revenue system. You could have a self-financing government. … But that would involve the ability to understand big words and focus on something for more than 5 minutes when a meeting, isn’t it? What a pity.)

Financial Security: No evidence of all evidence, and the most obvious of all. People don’t care about “capitalism”. They care about having enough money. They don’t want to worry about every penny that happens to them accidentally. Fix that, and you fix a huge source of stress for the world. Universal basic income can do that.

People could afford to be people, not just paranoid bill-paying machines. They could have lives, not just cost bases. They could be working at things they are good at, not just “a job” they usually come to despise.

So… Want to evolve? Because you know what happens to things that aren’t.

2 cheap cryptocurrencies that could skyrocket in 2022 Thu, 13 Jan 2022 14:30:00 +0000

With a recent market cap of $790 billion, it’s too late to buy Bitcoin cheap. But new cryptocurrencies like The sandbox (CRYPTO: SAND) and Peas (CRYPTO: DOT) offer potentially better growth prospects at a much lower price.

Let’s explore why these assets could skyrocket in 2022.

1. The sandbox

Worth just $4.2 billion, The Sandbox is a small fry compared to major cryptocurrencies. But that could change as its developers work to create the first blockchain-based metaverse. Sandbox’s pioneering edge and user-generated content strategy could be the key to success.

Image source: Getty Images.

According to, the metaverse can be defined as a persistent virtual world that continues to exist when you’re not playing. And it’s been a hot topic ever since the social media giant Metaplatforms (formerly Facebook) announced plans to spend $10 billion to develop the concept in late 2021. Sandbox aims to leverage blockchain to create its version of the metaverse, which will benefit from decentralization and non-fungible tokens (NFTs), digital proof of property stored on the network.

According to its whitepaper, The Sandbox aims to create a virtual world where people can “build, own and monetize” gaming experiences, similar to the publicly traded company. Roblox, which uses a similar model.

The Sandbox has already started selling NFT-based digital real estate in its metaverse. And it launched its second Alpha season in January to allow users to create experiences using its game creation engine and compete for cash prizes of up to 20,000 SAND, which would be worth almost 100,000 $ at the current exchange rate.

2. Peas

With a market capitalization of $24 billion, Polkadot is much bigger than The Sandbox, but it’s still cheap compared to assets like Bitcoin and Ethereum (recently valued at $790 billion and $360 billion, respectively). Polkadot offers a unique approach to developing decentralized applications (dApps), which are programs built on a blockchain network. And it can enjoy significant long-term growth as the industry as a whole develops.

Polkadot is unique because it leverages two different blockchains: the mainnet, called a relay chain, and several additional chains called parachains, which can be programmed to create applications that can interact with other blockchains. This system gives developers more flexibility to customize their applications while benefiting from the security and infrastructure of the Polkadot network.

Polkadot launched its first round of parachain auctions in November, with projects including Ethereum-enabled smart contract platforms Acala and Moon Beam win slot machines on the network. Although these projects are still in development, they could become an exciting proof of concept for Polkadot’s innovative take on blockchain technology.

It’s not too late to get on board

Everyone wants to enter the ground floor of a long-term growth opportunity. Polkadot and The Sandbox fit the bill due to their small market caps and compelling strategies for success. The Sandbox is ideal for investors who want to invest in the entertainment potential of blockchain technology, while Polkadot is a bet on blockchain infrastructure. But the two seem poised for success in the new year.

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Randi Zuckerberg, former director of market development and spokesperson for Facebook and sister of Meta Platforms CEO Mark Zuckerberg, is a board member of The Motley Fool. Will Ebiefung has no position in the stocks mentioned. The Motley Fool owns and recommends Bitcoin, Ethereum, Meta Platforms, Inc. and Roblox Corporation. The Motley Fool has a disclosure policy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Greystone arranges $ 30 million construction loan for Manhattan Building Company’s 80-unit multi-family development in Jersey City, NJ Mon, 10 Jan 2022 15:31:00 +0000

NEW YORK, Jan. 10, 2022 (GLOBE NEWSWIRE) – Greystone, a leading national commercial real estate finance company, has announced that it has set up a $ 30 million construction loan for affiliates of The Manhattan Building Company (“MBC”). The construction loan was provided by White Oak Real Estate Capital, a subsidiary of White Oak Global Advisors (“WOGA” or “White Oak”), to finance the construction of a 6 story mixed-use residential development, ~ 150,000 GSF consisting of 80 market-priced rental apartments, 80 parking spaces and approximately 3,200 square feet of ground floor retail space located at 40 Center Street in Jersey City, NJ. Drew Fletcher, Matthew Hirsch and Bryan Grover of Greystone were the exclusive advisers in organizing the development finance.

MBC has been one of Jersey City’s most active and transformative developers over the past decades. The project is located within two miles of MBC’s former Class A residential developments, Soho Lofts and Cast Iron Lofts, and their upcoming 4-tower, +1 million square foot multiphase development, Hudson House. The 40 Center is located in the redevelopment area of ​​Bates Street, for which MBC has been appointed as a redevelopment master by the Jersey City Redevelopment Agency. MBC is committed to Jersey City and is a leading developer in the city with an understanding of the market dynamics that are driving continued growth in demand for high quality multi-family housing. The 40 Center will be the first in a series of phases in the region.

The 40 Center is designed to attract young professional tenants by offering a more affordable high quality product, designed with larger than average units in response to tenant demand for more space in today’s market. MBC will offer a full set of amenities including a fitness center with sauna, full parking and a rooftop lounge with seating, barbecues, fire pits and stunning views of Jersey City and Manhattan.

“MBC is one of the leading owners, developers and builders of apartments in Jersey City. We are delighted to have entered into our relationship with them as part of this transaction and are pleased to have brought MBC and White Oak together for excellent execution, ”said Mr. Fletcher, President, Greystone Capital Advisors.

“Greystone Capital Advisors has done a fantastic job advising us throughout this process, and we are very fortunate to have launched a relationship with White Oak,” said John Palumbo, vice president of real estate development at MBC.

“We are delighted to support MBC in this high quality project in the growing Jersey City multi-family market. Greystone was instrumental in completing the transaction and we are grateful for the thoroughness and thoughtfulness they demonstrated throughout the process, ”said Eric Tanjeloff, Managing Director of White Oak Real Estate Capital.

About Greystone
Greystone is a national private commercial real estate finance company with an established reputation as a leader in multi-family and healthcare finance, having been ranked among the top lenders by FHA, Fannie Mae and Freddie Mac in these industries. Loans are offered by Greystone Servicing Company LLC, Greystone Funding Company LLC and / or other companies affiliated with Greystone. For more information, visit

About the Manhattan Building Company
Founded in 1994 as an integrated group of companies with a common goal, Manhattan Building Company has grown into a leading full-service commercial property development, construction and management company serving primarily Jersey City and Hoboken. Based in New Jersey, MBC ensures its success by emphasizing its experienced judgment and focusing on creating efficient, attractive and characterful multi-family units and lofts. MBC has been involved in over $ 1 billion in real estate development in Jersey City and Hoboken. Sanford Weiss, the director of MBC, has been active in Jersey City and Hoboken since 1978 with the primary focus of creating multi-family housing in this high-growth corridor serving Manhattan’s workforce. The company prides itself on its ability to identify, design, develop and build multi-family homes together with a superb team of professionals who create a contemporary luxury rental experience that meets the needs of today’s consumers and investors. institutional. For more information, visit

About white oak
White Oak Real Estate Capital, LLC (“WOREC”), a subsidiary of White Oak Global Advisors, LLC, is a commercial real estate lender specializing in developing bespoke financing solutions secured by bridging assets . WOREC offers loans across the entire capital structure, from senior extended senior loans to special situation bridging loans. The company is headquartered in New York.

White Oak Global Advisors, LLC (“WOGA”) is a leading alternative debt manager specializing in the creation and delivery of financing solutions to facilitate the growth, refinancing and recapitalization of small and medium-sized businesses. Together with its financing subsidiaries, WOGA offers more than twenty loan products in the market, including term, asset and equipment loans, to all sectors of the economy. Since its inception in 2007, WOGA and its affiliates have deployed more than $ 9 billion across its product lines, using a disciplined investment process that focuses on providing risk-adjusted investment returns to investors throughout by establishing long-term partnerships with our borrowers. For more information, visit

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