Zack Childress Historic Real Estate Scams Part-2

Zack Childress,In this article, Zack Childress explains few more real estate scandals which became sensational.

The Health South Corporation is in Alabama State which is the country’s largest health care service providers. In March 2003, The CEO asked the employees to exaggerate the turnover of the company as well as their income in order to meet the stockholder’s requirements for which the company got held up in a scandal. The statement said the revenue was around 1.5 billion in 4 years, the revenue was estimated to be 4.5 billion in 2003. The corporation had nearly 60,000 employees and 2000 facilities were provided to their customers. Fifteen executives were accused under the fraudulent activity and found guilty.

Zack Childress complaints about the firms which were involved in the scandals as it created a black mark to other real estate related firms.

Tyco international is a security system based company at Ireland having its headquarters at New Jersey. They provide 2 services namely fire protection and security system. It became world’s first optical network supplier. In 2007, the company got segmented into 3 namely healthcare services, electronics and fire security services. A 2 billion worth transaction was signed as they teamed up with Brink’s home security holdings. In 2016, Johnson control acquired Tyco International.

From 1996 to 2002, the unearned bonuses were filed as scandal. On November27, 2002, The New jersey state filed a scandal on Tyco International as they violated New Jersey Racketeer Influenced and Corrupt Organizations Act (RICO). As a result, many directors of the corporation were filed as accused as they were involved in the scam. On March 31st, Tyco made a motion to dismiss, which was granted in part over a year later, on October 14, 2004. By the end of the year, new employees were recruited. In February 2014, US private equity firm Carlyle Group collaborated with Tyco to acquire its South Korean security systems unit, valued at around $2 billion. In 2014, Tyco International sold its New Zealand based security company Armourguard Security limited to Evergreen International.

The automated wholesaling system was started by Zack Childress to prevent fraudulent activities in the wholesaling business and the objective of the process is to do co-wholesaling.

Qwest communication International is providing its telecommunication service in Midwestern cities. In 2000, the company’s CEO did illegal trading for 44 million worth. Qwest began to provide its service as Century Link from August 2011. As of September 13, 2005, Qwest had 98 retail stores in 14 states. The company was involved in a scam for which they were fined 250 million by SEC; but owing to financial crisis, the company paid in 2 installments.

These reviews were an eye-opener to the investors who have just stepped into real estate wholesaling and marketing. It helped the investors to be cautious and prevent themselves from fraudulent activities.
Zack Childress REI quick cash system will help you to learn more about scams and scandals in this business and make sure that your organization in involved in such criminal activities.



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