Update on Metro Dream Homes….. it's not looking pretty…..
October 30, 2007 by Admin · Leave a Comment
There’s a front page article
in today’s Fredericksburg, VA
Free Lance-Star. It seems that the Attorney General has established that the company is in debt by at least $300,000,000! Their assets have been frozen and they’re trying to find the money trail, but so far only $150,000 has been found so far. They did jail the company president, Andy Williams, but it is not clear if he is still in jail at this time. It turns out that Mr. Williams had another ponzi scheme shut down back in 2001, had been barred from selling securities, AND had not properly registered his current Metro Dream Homes investment scheme.
For now, the assets of the company are frozen and will remain that way until more information comes to light, but participants in the program are not looking at a terribly bright situation.
Link to Free Lance-Star Article
Link to Washington Post article regarding 2001 investment scheme
