California Real Estate Fraud Report

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“OPM” Equals Bankruptcy for San Diego Radio/TV Jock

Like Greek sailors seduced by the Sirens who crashed their ships, thousands of Americans watching late night TV and sponsored cable programs bought the nonsense that they could get something for nothing using “Other People’s Money”, a phrase popularized by Robert Kiyosaki in his “Rich Dad” series of books.

Dan Holbrook, who hosted a morning program on San Diego Fox TV outlet XETV called “Top 6 on Fox 6” and a talk radio show on KCEO (1000 AM) called “Real Money Real Estate” has filed a Chapter 7  bankruptcy, after his business empire collapsed, leaving unpaid investors on the hook. According to the investors’ attorney, Erwin Shustak, who forced Holbrook’s trust deed business Atvantage Group into involuntary Chapter 7, Holbrook had promised 11% annual returns.

After advising people that they could buy real estate with “other people’s money” (the bank), Holbrook is now preaching to losing investors about how to avoid foreclosure by asking banks to accept short sales on their properties.

Read the Full Article by Don Bauder in the San Diego Reader.

© Copyright 2007-2018 Monique Bryher

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The information and notices contained on The California Real Estate Fraud Report are intended to summarize recent developments in real estate fraud, mortgage fraud, short sale fraud, REO fraud, appraisal fraud, loan modification scams, loan modification fraud and other real estate related crimes occurring in Los Angeles and California. The posts on this site are presented as general research and information and are expressly not intended, and should not be regarded, as legal advice. Much of the information on this site concerns allegations made in civil lawsuits and in criminal indictments. All persons are presumed innocent until convicted of a crime. Readers who have particular questions about real estate fraud, mortgage fraud and appraisal fraud matters or who believe they require legal counsel should seek the advice of an attorney.

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