Courtland Van Oden, the manager of the Meadowbrook Assisted Living Fund Joint Venture presented this as a "ready to go" business opportunity. He presented a CD of the existing facility along with the existing cash flow. He presented expansion plans, along with the resulting revenue growth. I was told that the closing date on the facility was immanent.
After weeks, then months, he had not implemented the business plan. He then changed the mailing address and phone numbers to the business without informing the investors. I was able to re-establish contact after considerable effort. A few months later, he changed the phone numbers again without informing the investors. Attempts to reach him by phone or mail have been unsuccessful.
I have received no update reports, or any notice that a business plan has been implemented. I am convinced that that this business is no more than investor fraud.
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