Tuesday, April 24, 2007
Source: jaxnewsonline.com
A man who functions a Florida real estate Company that shareholders say was a classic Ponzi scheme has pleaded culpable to fraud.
The Main Street USA Inc., the Orlando Sentinel reported that the Aleem Hussain said a federal judge in Orlando Thursday that he had cheated investors in his company. In a Ponzi scheme, premature investors paid with currency taken from later investors. Hussain brought over 10 Orange County sheriff\'s deputies and other additional employees into his company as depositors and, in several cases, employees. He wooed them by giving for meals and hangs about at resorts and by promising to twice over a $100,000 investment in six months. The sheriff\'s deputies helped convince new investors to hope Hussain with their money.
A resident of Guyana, Hussain shifted from New York to Florida in 1996. He held several jobs before starting Main Street USA. The newspaper said that the company worked well while real estate in Central Florida was booming.
A man who functions a Florida real estate Company that shareholders say was a classic Ponzi scheme has pleaded culpable to fraud.
The Main Street USA Inc., the Orlando Sentinel reported that the Aleem Hussain said a federal judge in Orlando Thursday that he had cheated investors in his company. In a Ponzi scheme, premature investors paid with currency taken from later investors. Hussain brought over 10 Orange County sheriff\'s deputies and other additional employees into his company as depositors and, in several cases, employees. He wooed them by giving for meals and hangs about at resorts and by promising to twice over a $100,000 investment in six months. The sheriff\'s deputies helped convince new investors to hope Hussain with their money.
A resident of Guyana, Hussain shifted from New York to Florida in 1996. He held several jobs before starting Main Street USA. The newspaper said that the company worked well while real estate in Central Florida was booming.
posted by nisha
@ 12:15 AM
permanent link | Post a Comment |
0
comments
Tuesday, April 17, 2007
Source: bloggingstocks.com
The people at Apollo Management have been loading up on real estate recently. One contract that closed last week was the buyout of Realogy, which has a variety of housing real estate brokerages like Century 21, Coldwell Banker, and ERA.
An additional part of Apollo -- Apollo Investment Corporation (NASDAQ: AINV) -- is also making a play at real estate. In the present day, the firm agreed to give $17.75 for Innkeepers USA Trust (NYSE: KPA). The assessment comes to around $1.5 billion.
Innkeepers are a REIT and work an assortment of hotel brands, like Residence Inns, Summerfield Suites and Hampton Inns. While the firm makes reliable cash flows, the contract is not cheap at its 14X EBITDA multiple. Then once more, the company perhaps has growth possibilities. On today's message, Innkeepers' stock is dealing up 8% to $17.77.
The people at Apollo Management have been loading up on real estate recently. One contract that closed last week was the buyout of Realogy, which has a variety of housing real estate brokerages like Century 21, Coldwell Banker, and ERA.
An additional part of Apollo -- Apollo Investment Corporation (NASDAQ: AINV) -- is also making a play at real estate. In the present day, the firm agreed to give $17.75 for Innkeepers USA Trust (NYSE: KPA). The assessment comes to around $1.5 billion.
Innkeepers are a REIT and work an assortment of hotel brands, like Residence Inns, Summerfield Suites and Hampton Inns. While the firm makes reliable cash flows, the contract is not cheap at its 14X EBITDA multiple. Then once more, the company perhaps has growth possibilities. On today's message, Innkeepers' stock is dealing up 8% to $17.77.
posted by nisha
@ 2:54 AM
permanent link | Post a Comment |
0
comments