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  1. #305
    Join Date
    Jan 2011
    Posts
    3

    Re: Nouveau Riche - Legal, but a terrible company

    Finally! Jim Piccolo shows his true colors!! He has to pay more than 5 million dollars.

    ARIZONA CORPORATION COMMISSION
    FOR IMMEDIATE RELEASE: February 17, 2011 CONTACT: Rebecca Wilder (602) 542-0844
    Commission Orders Restitution for Over 100 Investors Defrauded by Unregistered Investment Programs, Most Involving Real Estate

    PHOENIX, AZ— The Arizona Corporation Commission today sanctioned multiple individuals and their affiliated companies whose unregistered investment programs—most of which involved real estate—
    siphoned over $6.67 million from at least 105 investors. Also, the Commission sanctioned three other individuals and their companies—a Sedona couple whose phony mineral and ****** exploration
    investment cheated investors out of over $2.2 million and a Chandler man whose fraudulent entertainment investment scammed $525,000 from investors.
    In total, the Commission ordered over $9.38 million in restitution and $405,000 in administrative penalties.
    In the first case, the Commission ordered James Piccolo of Scottsdale, ***** Cottrell of Tempe and Michael Roberts of Scottsdale and their affiliated companies to pay $5,577,226 in restitution and a total of $300,000 in administrative penalties for defrauding 105 investors with unregistered deed of trust investments.
    The Commission found that the men promoted the unregistered deed of trust investments at real estate education seminars where they convinced students to become investors, promising them double-digit returns.
    The Commission found that Piccolo, Cottrell and Roberts misrepresented that a second deed of trust or lien on vacant lots would be secured for the investors and that the investment had a corporate guarantee behind it. Additionally, the Commission found that the respondents failed to record any liens for the benefit of the investors.

    The Commission found that Piccolo and Five Star Capital Markets, LLC solicited potential investors to buy the unregistered deed of trust investment while not being registered to offer or sell securities in Arizona. The Commission found that, during part of the time he was a registered securities salesman, Cottrell fraudulently offered and sold the unregistered deed of trust investments without the authorization of his securities dealer.
    As a result, the Commission revoked his securities salesman registration. The Commission found that Roberts and his home development company, Charlevoix Homes, LLC, received investor funds solicited by Five Star Capital Markets, LLC, Piccolo and Cottrell, but Roberts and his company were not registered to offer or sell securities in Arizona.
    In settling this case, Piccolo, Cottrell and Roberts neither admitted nor denied the Commission’s findings, but agreed to the entry of the consent orders....

  2. #306
    Join Date
    May 2008
    Posts
    6

    Re: Nouveau Riche - Legal, but a terrible company

    Thanks Betsy. I'm glad JP is finally getting his comeuppance.

    I can guarantee you, though, that this isn't the last we'll hear of this con man. There are more schemes to be hatched, more clueless "partners" to be brought into the fold.

    Dennjon

  3. #307
    Join Date
    May 2008
    Posts
    6

    Re: Nouveau Riche - Legal, but a terrible company

    I see Bob Snyder has started a real estate training "opportunity" called Renatus. Anyone heard of them or been approached by this company?

    http://www.myrenatus.com/

  4. #308
    Join Date
    Jul 2011
    Posts
    1

    Re: Nouveau Riche - Legal, but a terrible company

    I didn't join, but am a Nouveau Riche alum. I saw some webinars and heard the pitches. It looks like another version of NR, but without the actual college, networking or solid support team.
    No Thanks.

  5. #309
    Join Date
    Jul 2011
    Location
    Franchise Row, USA
    Posts
    1

    Jim Piccolo Defrauded 105 & Must Pay $6M

    James Piccolo has been charged with defrauding 105 investors according to the Arizona Corporations Commission. Read about it here:

    http://www.unhappyfranchisee.com/biz...piccolo-fraud/

    The Bizzibiz franchise looks like it's based on multilevel marketing model. There are a ton of seemingly bogus "franchise reviews" popping up all over. Wonder if these digital marketers are aware they're required ** the FTC to disclose if they are paid or have ties to the company?

    It seems that they had a legitimate franchise attorney on board but they now have a lawsuit against him for legal malpractice:

    http://www.unhappyfranchisee.com/biz...piccolo-fraud/

    Just about everyone on the Bizzibiz franchise team formerly worked for Nouveau Riche University. Looks like they are ready to work their magic on franchise seekers now.
    Last edited by UnhappyFranchisee.Com; 07-17-2011 at 12:57 PM. Reason: fix typos

  6. #310
    Join Date
    Apr 2012
    Posts
    1

    Re: Nouveau Riche - Legal, but a terrible company

    I just attended a "Renatus" presentation, which is apparently the same company. I was lured in by a craigslist ad for a networking meeting for real estate investors. Why would I pay $15,000 to learn stuff you can learn on the net?

  7. #311
    Join Date
    Sep 2014
    Location
    Saint Petersburg, FL
    Posts
    3

    Re: Nouveau Riche - Legal, but a terrible company

    I hear you! I also attended to a Build & Flip type of rip off seminar back in 2013. I lost $3000.00, and now again I am back in the game, but this time in something much easier and diferent!
    To Tell you a little bit about my history..I was so against MLMs and Piramid type of home based businesses, till I found this!!
    www.savein.energy526.com
    It is not a network marketing company but their system does use the power of duplication in a very efficient way. I've tried to find the perfect part time business opportunity for 22 years. I know I've been stubborn, but I always believe in generating passive income from the power of duplication. I though if I could only find the easiest, most legitimate, sustainable and powerful system..and with the perfect product or service, I would give it a good try for long enough to see results. I am so happy and excited now!. I found the one opportunity that offers that and much more . I definitely like to hear what is your opinion on this one!
    www.savein.energy526.com
    Feel free to email me: cgl5049atyahoo.com

  8. #312
    Join Date
    Apr 2014
    Location
    Orlando, FL
    Posts
    389

    Re: Nouveau Riche - Legal, but a terrible company

    testing 12345

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