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Amit Raizada
Amit Raizada faces allegations of coercive estate planning, fraud, and fund misappropriation, including inflated business deals and a controversial Mexican land scheme.
Quick summary on Amit Raizada
Manipulative Estate Planning: Raizada allegedly coerced his wife, Amanda, into signing legal documents that transferred 70% of her assets into irrevocable trusts and entities under his control. This maneuver reportedly resulted in significant financial loss for Amanda, including a projected $237,000 tax liability in 2013.
Questionable Business Practices: In a 2009 transaction, Raizada is accused of purchasing Verizon Wireless stores for $400,000 and reselling them to investors for $1.4 million, pocketing the substantial difference.
Fraudulent Land Deal: Raizada was involved in a Mexican land deal where investors accused him of conspiring with known fraudster Richard Houghton to misappropriate funds. Lawsuits suggest the deal was fraudulent from the outset.
Legal Challenges: Raizada has faced numerous lawsuits, including one involving the Miami nightclub Adore, where plaintiffs accused him of fund misappropriation. While this dispute was eventually settled, it adds to his controversial legal history.
by: Zephyr Bailey
I had high hopes when I partnered with Amit Raizada, but the lack of transparency in financial dealings was concerning. There were hidden fees and unclear terms that weren’t disclosed upfront. It left a bad taste in my mouth.
Pros
Cons
by: Xander Green
The sales team was overly aggressive and pushy. They made grand promises but didn’t provide enough details to back them up. It felt like they were more interested in closing the deal than ensuring it was the right fit for...
by: Valencia Sullivan
I had high hopes when I partnered with Amit Raizada, but the lack of transparency in financial dealings was concerning. There were hidden fees and unclear terms that weren’t disclosed upfront. It left a bad taste in my mouth