What the Candwich And Ocean Front Property in Arizona Have in Common

Posted on July 21, 2010

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The American Dream is built on innovation, hard work and daring to hope for a better life. We are a nation that loves our inventors – from Benjamin Franklin to that guy behind the Snuggie.

If the candwich had taken off, financier Travis L. Wright would have been living the American Dream. Unfortunately, due to a few bad investments and lots of lies, it’s far more likely that Mr. Wright will find his name on a prison roster rather than in history books.

According to Geekologie, beginning in 2001, Wright started raising money from friends, family and others (175 investors in total) for real estate developments. However, apart from the six million dollars Wright did invest in real estate, he spent the other millions on the candwich (it’s a sandwich in a can!), roses with inspirational messages on the petals and his own massive home. (I guess you could count that last one as real estate, too.)

Now, the SEC and some angry investors are looking to get their money back. It seems that most of Mr. Wright’s financiers had far more faith in real estate than the sure-to-explode trend of canned peanut butter and jelly sandwiches.

It is a pyramid story that is played out over and over again, but with our focus on small business security law issues, the candwich was just too good an item to pass up.

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