Jon Yazel claims to be a retirement planning expert. He sold my Aunt and Uncle this Resorts Holdings Universal Lease time share. A vacation condo in Mexico for elderly people. Yeah, right. Oh, it gets better. This was supposed to be an investment giving 9%. The time share would be rented out. It turns out the whole thing was a FRAUD. A pyramind scheme. Lookup some of the entries on usacomplaints.com on Universal Lease and Resort Holdings. It was set up by Michael Kelly a well known scam artist. Kelly is in jail in Chicago.
If Yazel was half the genius he makes himself out to be he would have known what a scam it was. Maybe he did know but sold these leases anyway to get a quick commission. I heard in some cases it was 40%. Do the math. A $50,000 sale would be $12,500. Not bad for a quickee presentation to a couple of trusting old people. I'll bet he did know but figured that everybody was so old they would all die before everything hit the fan. Well, everything did hit the fan. Nobody got their 9% (but I'll bet Jonny boy got his commissions). The State of New Hampshire finally did something. They investigated after all the damage was done and enjoined Yazel from selling anymore unregistered securities. On behalf of all the victims and their families, THANK YOU SO MUCH! Oh, they did say that if Yazel ever has any money he will have to pay everyone back at the rate of $75 a month. WOW! See you in the next millenium.
I guess they believed Yazel's weepy and whinney letters about his misfortunes (physical, financial, emotional, etc., etc., take your pick) and gave him a break. I still think he hid that commission money away somewhere. Yazel has said he is trying to reopen his financial planning business. If you encounter this excuse for a human being stay away!
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