I'm still shaking my head after reading this article.
So Barry Landreth, a USC Marshall part-time lecturer in real estate finance and development talks up a storm in class about how he purchased land in Las Vegas and Chicago and that reselling the properties would bring returns of 190 percent within 30 to 45 days. The guy never owned the land!
Not only does this guy swindle people that are working for him, but he takes the money of a handful of USC Marshall students who wanted to make a quick buck.
Authorities said Landreth's business was actually a Ponzi scheme, in which any money paid to investors comes from money put in by other investors. They said many of those who invested were USC business students who also worked briefly for Landreth but did not earn the salaries they were promised.