RE:RE:RE:RE:RE:RE:My Detailed Thoughts on the Recent NR by Eric Owensnelson11 wrote: Makes one wonder how he obtained and what collateral he used to obtain the 20 million. Institutions or even personal loans have to have some kind of guarantee.
Wonder if he is personally on the hook for this 20 million? Man! Servicing this amount is costly.
nel
Yes, Nelson. At some point he thought this was a good idea, and it seems to have backfired big time. He has millions of dollars sitting in some account collecting dust, so he doesn't owe the money per sey, but he's certainly responsible for its stewardship.
His bigger problem is that it appears he accepted money, but he has not fulfilled his promises to receive that money. Whatever was promised to these investors, he cannot deliver due to the current situation he finds himself in. The longer he holds onto this money, the greater the "cost" for investors have to realize, because it's all tied up into this scheme.
NP