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manoucher sarbaz
Manoucher Sarbaz, a Southern California real estate developer, has a documented history of securities fraud and financial misrepresentation. His ongoing attempts to launch new projects and manage his public image raise significant concerns about his trustworthiness and the potential risks to investors.
Quick summary on manoucher sarbaz
Securities Fraud Conviction: In 2004, Sarbaz and his company, Pacific Golf Community Development LLC, were found guilty of securities fraud for misleading investors in a municipal bond offering related to a housing development project. They were ordered to pay $5.9 million in penalties.
Overvaluation of Collateral: Sarbaz overvalued land used as collateral in the bond offering, claiming it was worth $28,000 per acre, while it was purchased for an average of $1,812 per acre.
Unfounded Sales Projections: He made unrealistic projections about lot sales within the development, despite no lots being sold and the golf course remaining incomplete, leading to a default on over $53 million in bonds.
Reputation Management Attempts: Sarbaz has engaged in disseminating promotional materials and press releases to obscure his history of legal issues and financial misconduct, indicating efforts to manipulate public perception.
Involvement in Multiple Lawsuits: He has been a party in various legal disputes, including a 2018 lawsuit for contractual fraud against Shahram Elyaszadeh and a 2020 contract-related lawsuit filed by Farshid Hekmat, reflecting a pattern of contentious business practices.
Intel Reports
by: Savannah Lopez
If there’s a way to mislead investors, Sarbaz has probably tried it. From fake valuations to empty promises, his business dealings are full of red flags. and Pacific Golf Community Development LLC? More like Pacific Fraud Community Development. Investors learned...
by: Declan Watson
Sarbaz has a history of overpromising and underdelivering. Investors who believed his claims learned that lesson the hard way.
by: Josephine Knight
Overvaluing land, making up sales projections, and misleading investors? That’s not business that’s a scam. It’s one thing to fail in business, it’s another to drag investors down with you. Sarbaz made sure his losses weren’t his alone.
by: Tristan Wallace
Sarbaz’s financial history is a masterclass in deception overvalued land, bogus sales projections, and securities fraud. What a track record.
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