A historical home in Tennessee’s Williamson County is at risk of demolition after alleged misuse of HOA funds by a property management company that is now under investigation.
The home was built in 1899 by the great-grandfather of Brentwood, TN, resident Jenny Calvin. She spent her childhood celebrating milestones and holidays within the home, she told Nashville’s CBS affiliate WTVF.
After Calvin’s grandfather died and the family could no longer afford to maintain the property, the home was entrusted to the Williams Grove subdivision, which was built up around it.
What was supposed to be a grand clubhouse for the neighborhood, and a reminder of Tennessee’s rich history, is now an eyesore—as the money intended for its maintenance is missing. Gasser Property Management, the company hired by the Williams Grove HOA, is under investigation for alleged misuse of the funds by the Tennessee…
Investment fraud targets the human desire for financial growth by promising high returns with “low to no risk.”
- Ponzi Schemes: Named after Charles Ponzi, these schemes pay “returns” to earlier investors using the capital brought in by newer investors. There is no actual underlying business; the system collapses when new recruitment slows down.
- Pyramid Schemes: Similar to Ponzi schemes, but participants are usually required to sell a product or service. The primary “profit” comes from the recruitment fees of new members rather than actual product sales.
- Pump and Dump: Fraudsters spread false, positive rumors about a cheap stock (the “pump”) to drive up the price. Once the price peaks, they sell their shares (the “dump”), leaving other investors with worthless stock.