Mason Hill LLC (Patrick Merrill Broad, Laura Roser, Gorden D Wood) took 20K to 40K deposits and then delayed buying properties for about a year. Claimed they had a duplex management operation in Florida. Non-existent. They realized they needed to buy stuff and put the 75 or so buyers into properties.
They started calling some of our contacts and were universally rejected because they wanted the vendors to add a $20K fee on top to recover the costs expenses and commissions they had wasted or thought they were due. Complaints started to add up and then the SEC shut them down last week.
They used a webinar and education model through affiliates who they never paid. They also launched with a sham investing magazine that caught our attention. The more we found out the less we were impressed as they were proposing wild returns.