I met david manning as a referral from a real estate broker in louisiana. He had a company called Rhema investments and affiliate of A-1 mortgage in Baton Rouge Louisiana. His scam was he chared the origination fees up front. I used him to try to secure financing on $11 million of commercial property in Texas.
He hooked you by saying he had a lender that would financing these deals so i went and signed up this property. He requested partial originations up front ($25k), he requested appraisal fees sent to him (of which he didn't pay out to some appraiser after he did appraisal), I put up earnest money with title company. He blew through every dead line until the sellers would become irrate and keep my earnest money and threaten me.
David Manning would just disappear for days and one time we were day before closing as p / him (i don't think he could close a bag) he went missing. I called A-1 and they said they would try to get him. I immediately got call from david saying he was in hospital and just got diagnosed with cancer and had 3 months to live. This was about 2 years ago. I understand he is in California ripping off more suckers. The whole thing finally blew up when my real estate broker got a tip that our suspicion of him being a fraud was verified when another invester called the lender who david was using and had never heard of the propery, town or invester.
I was with david for 1 year and never closed anything or his any deadline. His scam was that he would tell you "oh, don't worry, all you have to do is close one deal and I will credit you all your fees back". He had almost ruined my life. We will eventually have to sell our dream home, pull our kid out of private school and totally change our life to start over.
When i confronted david about why the lender i called had never heard of me or the property, he told me "oh, i always lie to my clients so they won't bug the lender". He had been telling me since before i signed up these deals and forked over any funds, that the lender would finance these deals. I would say "your positive?" "Yes I am", he replied.
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