Friday, June 4, 2010

Go invest wisely scam

I am starting this blog as an effort to contact others regarding the mohawk/go invest wisely scam and join any legal action.
Myself and my brother purchased 7 properties in 2008 as part of a multi city tour conducted by Mike lathigee of the Freedom Investment Club. The offering was touted as " the best investment I've ever seen!" Over 1000 units were sold to several hundred investors who relied on Mike Lathigees due diligence. Thanks to Mike, Mohawk was able to procure contracts totaling an investment of approx. 18 million. The Freedom Investment club was due a commission on the sale. The investment was a nightmare from the beginning. I met personally with Mike in Dec. 2009. He admitted that their due diligence did not uncover a felony conviction on one of the principals and they did not know that Mohawk did not have their own resources and were relying on a third party ( Go Invest Wisely) to procure the properties. He also stated that the principals of Mohawk have closed the business and absconded with 6 Million dollars and went on a spending spree. 100 properties were purchased by F.I.C. through their foreclosure fund. On February 3rd 2010 the fund initiated legal action by a complaint with the U.S. District court of Utah. Unfortunately, this does not include the rest of us. Mike has made it clear that we are on our own and the Club has no responsibility. I disagree. Currently, G.I.W has the remaining funds and is headed for cover. Visit their website. Any input is appreciated. Thank you