If you require ALL of the background on Jad and Svitlana, that is here.
It has been a wild ride for our returning champions Jad Morris and Svitlana Kwee!!! Just in the last month or so:
Svitlana filed for a divorce from Jad. Her 3rd or 4th…
Jad fire-sold his home to Opendoor in an off-market transaction.
Jad appears to have used St. Patricks Day to violate the order to cease and desist from seeking investment (and it sounds like he wants to provide investment advice?)
Sale of Jad’s home, Svitlana’s divorces, Jad breaking the law again…
The Divorce
Shocker if it didn’t work out, but I will remain cynical (another shocker) that much like Ms. Kwee’s first green-card marriage to a senior citizen, this divorce is also a “sham” to somehow protect assets from future judgments. Not divorce shaming, but fun fact: I think only like 1% of the population has been divorced 3 or more times.
The Real Estate
As a reminder from the original story, On October 2nd, 2020, Mr. Morris purchased 7315 W. Crabapple Dr., Peoria, AZ 85383 for $575,000 financed by a $471,500 30 yr conventional mortgage from Lendsure. On March 22nd, 2022, it appears that Mr. Morris paid off the mortgage with Lendsure. The hypothesis (supported by the securities action from the AZCC) is that the cash came from illegal funds received from duped investors.
Mr. Morris had great timing in the purchase, and the home looks to be worth at least $750,000-$780,000 even with the latest slip in prices, and Mr. Morris let the home go to Open Door for $568,900. A LOSS during the greatest real-estate appreciation of our lifetimes!!!??? What would uber-realtor and mortgage fraudster Svitlana Kwee say??? Opendoor turned around and listed it for $783,000.
My great hope here is that this home was sold in a hurry so that Mr. Morris could repay these duped investors as part of a settlement with the AZCC. The cynical me would ask why you would sell a home for $200,000+ less than it was worth unless you had a bus to catch to Mexico!? I would have given you $569,000 Jad!!! Happy to hear if those investors get paid back, but it looks like Jad is doing Jad…
No Lien!!!???
If that is the case, that should make us all pretty angry. With the federal and state tax judgments and the AZCC process, couldn’t anyone slap a lien on that home to protect the rights of all the victims??? Seems negligent…
The Cease and Desist and Continuing The Scams
He can’t help himself. He can’t stop. They NEVER, EVER, STOP…
By the way, while I’m here, short rant about realtors. If I posted here or on Facebook that you can’t lose by investing in a stock using 80-100% margin (EXP say…), and then I sell that stock to you and collect commission, the SEC and/or the AZCC will come after me. If I do it enough, I can go to prison. Isn’t that exactly what realtors do??? Svitlana does it daily, and she shouldn’t even have a real-estate license!