Peter B. Mancuso Stole My IRA Money
I met Peter Mancuso some time 2007 through a real estate investor circle I was part of.
Had just converted my traditional IRA to a self directed IRA and was looking to begin investing with my retirement funds.
In came Pete. He had a deal that sounded safe, first mortgage on a single family home. Two year note, 10% interest, payable in full at the end of the two years. I kept in touch with Pete, met for breakfast on many occasions, talked about investing and looked at other deals. I didn't think much about the house I had lent Pete the money for until the two years came and went. Pete had excuse after excuse, said payoff was coming. When he stopped returning calls, I did a little research. The house had in fact been foreclosed on several times in the two years. I contacted an attorney to help me sort this out, and learned that Pete's attorney who closed the loan, NEVER filed the security deed at the courthouse.
More later. But for now, BEWARE of Pete Mancuso.
posted by A Concerned Citizen @ 4:20 PM
3 Comments
3 Comments:
Peter Mancuso at least can be found on the internet. Yall all post under "concerned citizen". And like you said, the posts were to have been removed by court order, and you didn't even honor a court order. Wow! Who's the crook here, the stupid investor, or the person the investor is retaliating against for bad investment? Peter lost on the investment too, but you don't see him blaming the entity with whom he invested. Investing is a risk. You lose, you don't call your stock broker and expect to get your money back. People need to learn about investing....
Besides, you behind "concerned citizen" rather than post using a real identity
One other thing, if you search for Peter Mancuso, you will see, he has fought like hell about the real estate, attempting to keep properties out of foreclosure, and other things these investments were lost on. If you can't take the heat, stay out of the kitchen.
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