Just sent this to the powers that be at KFYI. They can't REALLY be this clueless on Butterfield, but I'm still hearing the ad multiple times a day. I'll post their reply, or if they have any balls at all, they'll post a response in this thread, which I linked.
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Evening Gentlemen,
I'm going to ask one simple question here before I start laying the smack down -- Does KYFI vet anyone that advertises on your radio station, or can I just walk in with a pile of money to get my name on the air and start scamming people for their life savings? This is an honest and legitimate question and I'd like a truthful answer. You see, I've listened to your station for years and have always enjoyed it (except for Merill, he's just ADD irritating most afternoons... love ya Chris) Yes, Barry and Michelle days, Bruce days, have listened for so many years. But, this isn't about any of your on-air personalities. I'm hearing a constant advertisement over the past couple of weeks that concerns me greatly.
That would be Mr. Daniel Butterfield and IPX Investments. Why the concern? Well, let's start with this:
https://www.nar.realtor/RMODaily.nsf/pages/News2004080454?OpenDocument
Minn.: State Closes Equity-Stripping Case
www.nar.realtor
A Minneapolis man accused of equity stripping has agreed to forfeit his real estate license and the mortgage-originator license of Equistar Mortgage of St. Paul, Minn.
Daily Real Estate News
| August 4, 2004
| Share
Minn.: State Closes Equity-Stripping Case A Minneapolis man accused of equity stripping has agreed to forfeit his real estate license and the mortgage-originator license of Equistar Mortgage of St. Paul, Minn.
Daniel Butterfield, who had been accused by the Minnesota Department of Commerce of equity stripping in a 21-count complaint, signed a consent order in late July that revoked the licenses. The consent order documented four cases in which homeowners in foreclosure were convinced that signing away their title and becoming renters would be beneficial until they were ready to buy back their homes. In addition to equity stripping, the department cited breach of fiduciary duty, incompetence, fraud, lack of disclosures to consumers, and violation of an order to produce records as other forms of misconduct by Butterfield--who now is permanently barred from mortgage origination or servicing.
Source:
Star Tribune (Minn.) (08/03/04); Gendler, Neal
With me so far? Mr. Butterfield would be the LAST person in the world I'd trust with any kind of real-estate investment. That said, let's move on. Mr. Butterfield is currently offering a chance to make a 15% return on investment by getting with his firm, IPX, and investing in Rocky Point, Mexico. 15% is going to get people's attention, for sure! Qualified investors only, hmmmm. That means you have to have LOTS of money to lose. His shtick is a failed project project called Esmeralda. Oh, the stories surrounding this failed project! Money grabbed, no titles, homes/condos never built, no records of any transactions, no title or ownership records filed with the city... do you want me to go on? How do I know any of this? You need proof?
I have run a website at
www.rockpointtalk.com for the last 30+ years. I know Rocky Point like the back of my hand. What Mr. Butterfield is selling is the exact same lipstick on a pig that's been played out multiple times over the years in one project name or another. Get their money, use it to make something happen so it looks like a solid investment, then the whole pyramid scheme collapses leaving most without their money or that beautiful condo on the beach. He's using the exact same bait that's been used for years.
Why are you supporting him and letting him advertise on your station? I hope to hell that when these investors get it stuck squarely up their ass, and they will, that they get a class action suit and sue the hell out of KFYI for allowing this schmuck to advertise on your station.
Care to read more? Tell Mary why she lost over $100k to somebody exactly like Butterfield. She is not the only one, far from it.
https://www.rockypointtalk.com/threads/anybody-but-me-been-hearing-this-ad-on-the-radio.12352/
This is what you are letting advertise on your radio station? I always thought better of you guys than this. Apparently, I was mistaken.
Stuart Burnett
Tempe, AZ