Metro Dream Homes (Frederick, Deale: crime, lenders, attorney)

[sagegriot]

VA catching up to MD (dominoes are falling)...........

washingtonpost.com - nation, world, technology and Washington area news and headlines

[sagegriot]

More from Cathy Jett at the Fredericksburg Free Lance-Star paper:
Fredericksburg.com - INVESTIGATION STATE HALTS MORTGAGE-PAYOFF OFFERS DREAM HOMES ON HOLD

[Rey19]

Originally Posted by sagegriot

VA catching up to MD (dominoes are falling)...........

washingtonpost.com - nation, world, technology and Washington area news and headlines

Sagegriot, I am trying to find this article. Is there anyway you can pinpoint the link?

Thanks...

[Rey19]

Originally Posted by sagegriot

VA catching up to MD (dominoes are falling)...........

washingtonpost.com - nation, world, technology and Washington area news and headlines

I got it!! I did a search on "Grapevine". "Dream Homes" was turning up nothing.


Va. Joins Md. in Halting Mortgage Firm's Program

Washington Post Staff Writer
Friday, September 7, 2007; Page D04[/SIZE]

The state of Virginia has joined Maryland in blocking Metro Dream Homes from offering homeowners mortgage-free living through a complex investment program, citing concerns about potential consumer "harm and economic loss."
The Virginia State Corporation Commission late Wednesday issued a temporary injunction to stop the company from soliciting investors for 90 days, pending a Sept. 18 hearing.

The order follows a similar action by the Maryland Attorney General's office on Aug. 15. In that case, the company is scheduled to file an answer to the allegations by Monday.
The company's unique offer has attracted plenty of customers, as well as plenty of consumer inquiries to government agencies about its legitimacy. Metro Dream Home operates under a number of names, including POS Dream Homes, Metropolitan Grapevine and Metro Dream Homes of Fredericksburg; it lists business addresses in Maryland, Virginia and the District.
Last year, the company began inviting investors to seminars to promote its products. In many cases, home buyers agreed to take out mortgage loans then turn over 10 to 15 percent of their home equity to the company.
Buyers also gave the company another $5,000. In exchange, the company agreed to invest the money in automated teller machines, credit card readers and other "revenue generating devices" and use the profits to pay off the mortgages in five to seven years and donate money to charities, according to the Maryland Attorney General's office. At the end of that period, the homeowner agreed to give the company 50 percent of the total equity in the home.
Reports about Metro Dream Homes' operation appeared in The Washington Post early last month.
Attempts to reach two company officers, Isaac Smith and Andrew Williams, were unsuccessful yesterday. Ron Worthy, an attorney for the company, did not return a call for comment.
In an interview last month, Williams defended his operation, telling the Post: "If everybody knew about our program, everybody in the world would be running in to get this great deal."
In an Aug. 28 document, the Virginia Corporation Commission's Division of Securities and Retail Franchising said the company was offering investors returns that "mathematically . . . appear impossible to achieve."
It also said the company failed to register with the state of Virginia to sell securities.
Last month, the Maryland Attorney General's office expressed concern that the company may not have invested the money to create the profits it promoted, leaving open the possibility that it used payments from one investor to pay mortgages of others, a practice commonly referred to as a Ponzi scheme.




washingtonpost.com - nation, world, technology and Washington area news and headlines

[Rey19]

Originally Posted by sagegriot

More from Cathy Jett at the Fredericksburg Free Lance-Star paper:
Fredericksburg.com - INVESTIGATION STATE HALTS MORTGAGE-PAYOFF OFFERS DREAM HOMES ON HOLD

Thanks....

"On Aug. 28, the SCC's Division of Securities and Retail Franchising requested that the SCC issue a temporary stop order against Metropolitan Grapevine, its subsidiaries and two officers."

All the tentacles connected to this operation must stop doing business. The dominoes are falling...

[DCBorn]

Originally Posted by Rey19

Let's keep adding when we find info:

Metropolitan Grapevine's companies include: Global Pacific Investment, YTB, HelloWorld, 5Linx, Dream Rides, Metro Dream Homes, Communities in Partnership, DeVine Foundation, CIP, and Billboards 4 ATMs.

I have friends with homes in the company and do not think it to be a scam. I know people who have had their mortgage paid for more than a year. I am good freinds with on the employees who can tell me where Metro's POS Cafes are being placed. These Cafes is the way they are supposed to make their returns.
I do however think that these well meaning men will not be able to pull off the returns that they think they will on their POS CAfes and that the company will eventually crash on more of an over-forecast of revenue instead of some sort of scam. This link will give you some insight into the company.
Metro Television Network

[Rey19]

................

[Rey19]

Originally Posted by DCBorn

I have friends with homes in the company and do not think it to be a scam. I know people who have had their mortgage paid for more than a year. I am good freinds with on the employees who can tell me where Metro's POS Cafes are being placed. These Cafes is the way they are supposed to make their returns.
I do however think that these well meaning men will not be able to pull off the returns that they think they will on their POS CAfes and that the company will eventually crash on more of an over-forecast of revenue instead of some sort of scam. This link will give you some insight into the company.
Metro Television Network

You might want to talk to the VA and MD Attorney General, BBB, and the Maryland Court (do a case search on Metro Dream Home), they think otherwise. You need to read the info on this forum before making a "judgment". We have done plenty of research and, unfortunately, you are late in the game. We also posted on scam.com, but they have been down. Btw, Metrotvnetwork.com is old news; these folks are "brainwashed". There has been numerous complaints from individuals who have not had their mortgage paid . Also, Mr. Williams was reprimanded in 2001 by the Maryland AG for the same violation. Read for yourself:

Maryland Attorney General - News Releases

Maryland Seizes Assets of Bankcard Group Inc. and ATM Group Enterprises

Before Metro Dream, A 2001 Ponzi Accusation - washingtonpost.com

This is just the tip of the iceberg. Continue reading this forum. Did you read the above quote about "subsidiaries"?
Read:

Fredericksburg.com - INVESTIGATION STATE HALTS MORTGAGE-PAYOFF OFFERS DREAM HOMES ON HOLD

Read the BBB report on POS Cafe:

Better Business Bureau Reliability Report

Is this kind of man you want to trust your finances with? Did you know that POS Dream Home is listed on the DNB as a Mobile Home Dealer with an annual income of $360,000. I guess if you "loose" your home from their SCAM, they will sell you a mobile home.

"Knowledge is Power".

[sagegriot]

DCBorn
I always appreciate direct observations from folks that are more familiar with the inner workings......most of us here are just speculating (including me).

If I see a well-intentioned individual with wings taped to his back and deduce that he'll crash and burn if he dives off of a building, its tough for me to understand why someone else might look at the same individual and say he hasn't crashed yet, so maybe he WILL fly. We continually hear the statement that folks are getting thier mortgages paid (except in a few cases!), but we almost never hear anything relating to revenue from the business. When we do it's iffy at best, but usually negative (as in the Frederksburg article from today.......Sam's Pizza). If they really have so many machines in service, they could be taking advantage of all this publicity to increase business.

Another point you could help us with is why well intentioned people might not react by saying, "ok if we need to be licensed for this activity, we'll get the license or hire someone with that credential". One member of the audience in the metrotvnetwork video asked that very question, but the response jumped to another topic.

I have sometimes thought the leaders are well-intentioned based on some of thier words, but that does not explain their reaction to legitimate questions being posed. I have realized that no matter how much damage results, there are many that will say its not a scam because it was unintentional......could we agree to call it a scandel?

[ralphmalph]

Originally Posted by DCBorn

I have friends with homes in the company and do not think it to be a scam. I know people who have had their mortgage paid for more than a year. I am good freinds with on the employees who can tell me where Metro's POS Cafes are being placed. These Cafes is the way they are supposed to make their returns.
I do however think that these well meaning men will not be able to pull off the returns that they think they will on their POS CAfes and that the company will eventually crash on more of an over-forecast of revenue instead of some sort of scam. This link will give you some insight into the company.
Metro Television Network

Yes, we have heard all this before. I don't think it would be fruitful to repeat all the facts in the MDH/POS/Grapevine case. Better might be for you to do a little research into Ponzi schemes. Once you clearly understand what a Ponzi scheme is, you will see that this has been a scam from day 1!

ponzi - Google Search

There are any number of links to explain the idea and the implementations of Ponzi scams. One of the common aspects is that they are all based on some sort of "honest" appearing investment plan that goes awry. In reality, there never was any *real* investment plan that had a prayer of a chance to succeed. In the case of Ponzi, he knew very quickly that his postal coupon plan would not work and continued to take millions of dollars of investors money. In the case of MDH, they knew their POS plan would not work before they started and still took millions of dollars of investors money. Why? Because Williams had tried it all BEFORE!!! There is an order against him from 2001, IIRC, to cease a similar scam and to not operate an investment plan in the future (now). He violated this order and is doing the same sort of scam now.

So, please don't insult our intelligence by trying to pass him off as a well intentioned, honest, good-doer. He has been a crook in the past, he is a crook now and he will always be a crook!!!

How gullible can people be??? Try LEARNING something! Read up on Ponzi scams and come back and tell us what facts about this mess say it is NOT a scam...

Here is a thought from me that is not a fact, just a prediction. Williams is going to jail!!! However, for those of you who have lost money in this deal, you can that to the bank!!!