Someone claimed to own a vehicle and provided an email and signed form from Arizona's transportation department to prove it. Later they said the investor's money actually built the vehicle. But if it didn't exist yet, how was it inspected and documented? The paperwork was fake.
Today in The Deal Room. Collateral. They proved to us on paper they had collateral. They even said it in an email that they had collateral. And then now they're saying, oh, well, we use the money to make the collateral. The money you gave us, we're using that to make the collateral. And so we're like, well, that— how is that possible? We have a form signed by the Arizona Department of Transportation saying they inspected the vehicle that you built. So how did they do that, sign a piece of paper legally, if there's no building and there's no vehicle? They committed fraud.
