A South Florida woman, Jessica Gipson, is seeking the return of $21,000 she invested in a real estate deal after the promised returns failed to materialize. She has turned to CBS News Miami for help after exhausting other avenues.
Key Takeaways
- A woman invested $21,000 in a real estate deal with promises of significant returns.
- The promised bonus and subsequent payments were never received.
- An attorney reviewed the contract and deemed the promised returns unrealistic.
- The victim advises others to conduct thorough due diligence before investing.
The Investment Opportunity
Jessica Gipson had been saving for years with the goal of investing in real estate. She met Alex Moore through a mutual acquaintance, who presented her with an investment opportunity. Moore showed Gipson a contract that stipulated a $25,000 investment would yield a $250,000 bonus check, followed by 40 weekly performance checks.
Despite the deal seeming too good to be true, Gipson felt Moore was trustworthy, having spent some time together. She signed the contract on January 5 of last year, providing $21,000, which Moore accepted despite it being less than the initially stated $25,000.
Unfulfilled Promises
The contract indicated that Gipson was due her $250,000 bonus on January 17, 2025. However, nearly a year later, she has not received any funds. Gipson reported that Moore provided numerous excuses, ranging from money being backed up to deals not going through.
After repeated attempts to resolve the issue, including sending withdrawal and demand letters, and having a lawyer send another demand letter, Gipson did not recover her money. She filed a police report, but authorities deemed it a civil matter, leaving her with no recourse through law enforcement.
Expert Analysis and Advice
CBS News Miami consulted with attorney Raul Gastesi, who reviewed Gipson’s contract. Gastesi described the contract as "not professionally written" and the promised rates of return as "outlandish," stating that such returns are impossible to guarantee. He advised that individuals should always investigate an investment thoroughly before committing funds.
Gastesi recommends requesting and reviewing financial documents such as tax returns, bank deposits, profit and loss statements, and balance sheets, and having an accountant review them before proceeding. He also noted that the one-page nature of Gipson’s contract was a significant red flag, as investments of that magnitude typically involve much longer, more detailed agreements.
A Costly Lesson
Gipson acknowledges that she likely will not recover her money and views the experience as an expensive lesson. She urges others to perform their due diligence, not to trust people solely based on their character or a casual acquaintance, and to be wary of deals that seem too good to be true.