Similarly, former school teacher Ed Beckley, whose “Million Dollar Secrets” cable television program appeared in about 200 markets, in 1987 filed a Chapter 11 bankruptcy court petition seeking protection from thousands of former students who sought refunds. after the company that licensed rights to his real estate seminars filed for liquidation under Chapter 7 of the federal bankruptcy code in 1986. The best known of the 1980s real estate gurus, author Robert Allen, closed down Allen Group Inc. If this guy (Vu) is breaking the law, then he needs” to be prosecuted. We’ve got affidavits from 20 of his students. what matters to me is the underlying truth of what they are saying. “I understand that his people have raised questions about the motives of the people who are complaining. “I’ve wanted to look into his operation for some time,” said Mark Barnett, an assistant state attorney general in Hollywood, Fla. The attorney general is also examining whether Vu has violated Florida law by failing to register his businesses with the state. The Florida attorney general is investigating claims from 20 of Vu’s students that he allegedly engaged in deceptive trade practices by reneging on promises to help students invest in real estate by becoming their “financial partner” in certain purchases. His campy hourlong television ads-which promote his seminars against a backdrop of bikini-clad women, fast cars, big yachts and huge mansions-are so infamous that they have been spoofed on both the Fox television network show “In Living Color” as well as on NBC’s late night comedy show “Saturday Night Live.”īut Vu’s rags-to-riches odyssey is receiving some serious scrutiny these days. He arrived dirt-poor in the United States from Vietnam in 1975 and has gotten rich, he says, following advice he now gives to others.
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