Real Estate Ponzi Scheme: when old fashion brokers deceit investors

Georges Benoliel
Sep 3, 2018 · 4 min read

Next time you go out for sushi in New York or Los Angeles, don’t bother ordering halibut. Chances are it’s not halibut at all. Did you know that when you eat out at restaurants, the fish that is served to you is not the one you actually ordered (at least in 43% of the cases). DNA tests highlighted this “bait-and-switch” or “fish fraud”, whatever you want to call it.

The Real-Estate / Fintech startup Compass invented the “venture capital bait-and-switch”:for their investors as well as for their own employees/brokers…

Keep the story going. Sign up for an extra free read.

You've completed your member preview for this month, but when you sign up for a free Medium account, you get one more story.
Already have an account? Sign in

Written by

Georges has been working in Wall Street for the last 14 years trading derivatives with hedge funds. He has been an active real estate investor for over a decade

Welcome to a place where words matter. On Medium, smart voices and original ideas take center stage - with no ads in sight. Watch
Follow all the topics you care about, and we’ll deliver the best stories for you to your homepage and inbox. Explore
Get unlimited access to the best stories on Medium — and support writers while you’re at it. Just $5/month. Upgrade