• Report: #668105

Complaint Review: Jordan Wirsz

  • Submitted: Sat, December 04, 2010
  • Updated: Sun, January 27, 2013

  • Reported By: JR — Las Vegas Nevada United States of America
Jordan Wirsz
6212W Desert Inn Rd, Ste 100 Las Vegas, Nevada United States of America

Jordan Wirsz Diamond Bay Mortgage Scam Artist Las Vegas, Nevada

*General Comment: No Response/Retort?

*Consumer Comment: CREDIBILITY ??

*REBUTTAL Individual responds: Rebuttal by Jordan

*Consumer Comment: Educate Yourself

*General Comment: Time to pull your head out

*General Comment: Time to pull your head out

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Beware of a guy named Jordan Wirsz.  He started a hard money lending company in Las Vegas, NV that went out of business in 2009.  That company was Diamond Bay Mortgage.  His investors, who were generally elderly and gullible, lost millions of dollars.  When the going got tough, he folded his tent, leaving his investors holding loans that were largely or totally worthless.  My unsuspecting mother was one of those investors.

He has recently tried to reinvent himself as a motivational guru and coach, and has even started writing books to bolster his credibility.  He is a sharp guy and impressive on the surface.  Approach with caution.   


This report was posted on Ripoff Report on 12/04/2010 12:03 AM and is a permanent record located here: http://www.ripoffreport.com/r/Jordan-Wirsz/Las-Vegas-Nevada-89146/Jordan-Wirsz-Diamond-Bay-Mortgage-Scam-Artist-Las-Vegas-Nevada-668105. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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Updates & Rebuttals

#1 General Comment

No Response/Retort?

AUTHOR: Jeremy - (United States of America)

It has now been nearly 2 (TWO) years since Jordan Wirsz was publicly exposed here on this forum.  I trust anyone who is interested in knowing more will do their "homework" within the respective jurisdictions this individual has perpetrated his "alleged" crimes.

Anyhow, I have an update for any creditors or plaintiffs who have been awarded summary judgments (or judgments of any other kind) against Mr. Wirsz or entities he either controls or otherwise controlled in the past.

He transferred some $$ (I'm not going to "jump" to the conclusion the sums transferred were "ill-gotten", "Stolen", "Embezzled", nor otherwise unlawful) to a Florida Trust (his illegitimate Father is the trustee "don't inquire further as to how THIS came to be) Account.

The records are READILY available to any and "all" (including law enforcement) seeking to pierce the "corporate veil" while ensuring Mr. Wirsz can enjoy pursuit of his narcissistic desire to obtain an Adonis-like physique which could ONLY be obtained by a boy of Jordan's physical stature in the shadow(s) of reality. 

You see, the FBI, SEC, NVMLD (NV. Mortgage Lending Division) and NUMEROUS other agencies (Local/State/Federal) have been apprised of Mr. Wirsz' actions, business dealings, connivery, etc.

They (the agencies) are woefully inept and under-staffed to do anything about him.  But, it is YOUR $$ I seek to prevent his (Jordan's) taking!!

A wise man (or parable perhaps) once said, "Nothing ventured, NOTHING LOST!"

Some might say, "Nothing ventured, nothing gained."  Allow me to demonstrate the folly of such logic.

If I don't "venture" my hard-earned $$ on a B.S. investment....I've LOST NOTHING!!

In reality I've GAINED EVERYTHING by not losing my "PRINCIPLE" ("principle" is an investment term used to define the amount of $ with which an investor invests).

I don't CARE if someone comes along offering you 12% / 15% / 25% / 50% /100% (insert a % here) on your $, DO YOUR HOMEWORK!!

You don't HAVE to have a Phd in Finance to realize a Rate of Return (IRR) is proportional to Risk!!

GIVE YOUR $$ to an "Advisor" and  KISS your $$ GOOD-BYE!!

A guy by the name of William Phillips enabled Jordan Wirsz to learn this principle.

William took Jordan under his (William's) wing while attempting to be a "father-figure" to the son he never had.  Being that Jordan didn't know his own father, Jordan warmed to William's mentoring.

Long-story turned Short....Jordan "moved-on" to conquer the World by manipulating any and all relationships/circumstances/situations toward benefiting himself at the expense of any and all relationships he once had.

Jordan essentially established his business/career (insert word here) on the principals, blood, sweat, tears, and hard work of his forebears (through no effort of his own) so as to be able to expect and DEMAND the adulation of those who have yet come to know him.

Ponder this...Hypothetically:  What IF someone were to say, "My Dad did....and then he....and THEN he went on to do....and I came along and worked by his side for 20 years and this is what I'VE done!!"

You might feel compelled to initially think, "Your DAD seemingly did many things.  You really haven't done s**t other than ride your father's coat-tails."

Otherwise, you might conclude, "You're father; while quite accomplished, is no longer here and why do you feel the need to harken back upon his memory so as to legitimize your current works/accomplishments?"

In either instance, you sense there is something missing.  ??

Ask yourself (or Mr. Jordan Wirsz) this...

WHAT is missing?

He maintains an overwhelming need to convince YOU of what he has yet to convince himself about WHO/WHAT he is!!  Simply put, he CAN'T (convince himself).

Although he might SELL YOU on who/what he is; rest assured, under that thin veneer he perceives as "confidence", exists a frightened boy eager to accept the $$$ you give (entrust to) him.  YOUR $$ serves as his validation.  YOUR $$ enables him to convince himself he is no longer a failure.  YOUR $$ might simply save his life!!

Allow me to leave one final analogy/illustration:  Your $$ IS HIS LIFE!!!
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#2 Consumer Comment

CREDIBILITY ??

AUTHOR: Jeremy - (United States of America)

I don't suppose there is ANY truth to the following either?  I guess the Courts, attorneys, AGs, etc. are all lying in order to conspire against Jordan Wirsz.  The rebuttals here are a joke, if not tragic.

http://oasiscapitalmanagementinvestigation.com/images/11172010_Complaint.pdf

The above situation is merely 1 of 3 I'm aware of wherein construction funds were either not disbursed or simply disappeared all together without being expended toward development of the intended project.  If Jordan would like to cross swords on this point, I will be more than happy to post the other 2 projects' names, locations, specific information, etc. so that everyone including any law enforcement entities wishing to pursue the information will be enabled to do so.

http://images.edocket.azcc.gov/docketpdf/0000082501.pdf

Anyone who is interested can check with the Nevada Secretary of State, Google, and Clark County Assessor's office to easily see that DBI Investments (Diamond Bay Investments - reborn) and Oasis Loan Advisors are just down the hall from each other in the same building.  They even share the same attorney firm (HUTCHISON & STEFFEN, LLC) which I'm sure is merely another coincidence.

Look at the ownership of Oasis Loan Advisors from the time of formation to the present along with their address and DBI Secured Income Partners (here):

http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=ertmSMN8DJ50HEveyiLQ9A%253d%253d&nt7=0

http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=dQlRqqS1s5%252fXblIUtwRYWA%253d%253d&nt7=0

For those of you who personally KNOW the people who used to work under Jordan at Diamond Bay, some name(s) should look familiar.

I'm not going to compromise any potential litigation or investigation which may or may not be going on at this time by providing more than what is above (unless Mr. Wirsz wishes to dispute any of it) but, in my opinion (which only follows here) where there is smoke there is generally fire; and Diamond Bay's demise along with its timely disposal of its loan portfolio to an "arm's length third party" who just happens to have office space in the same building as Mr. Jordan Wirsz wherein both companies share the same legal counsel should cause anyone with 1/2 of a brain to come to SOME conclusion.  I leave that conclusion to whomever is reading this.
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#3 REBUTTAL Individual responds

Rebuttal by Jordan

AUTHOR: Jordan W - (USA)

To everyone reading:

Unfortunately the internet and this website provide and conduit for illegal, slanderous, liberlous, and misleading information from people that don't exist. This false report was filed from a stalker who is harrassing me, and which I have begun the process of filing the appropriate lawsuit and complaints with internet crimes division. Nonetheless, let me address the allegations contained therein:

1. I was the founder and CEO of a hard money lending firm. The company voluntarily and under contract transferred the assets to another servicer, who proceeded to default on that contract day #1 in which they took over, and they became hostile in an attempt to avoid their contractual obligations.

2. Our investors were not elderly and gullable, and by most standards, were smart, wealthy, and responsible individuals. While we had some elderly clients, that was by far not our demographic. Further, we never sough, nor do I believe we did, have investors who were "gullable" by any stretch of the imagination. By definition, most of our investors were considered sophisticated. The person writing this did NOT have a "poor elderly mother who got taken for a ride." Instead, this is a person's sick and demented mind playing what they feel is a "joke," however I take it very seriously.

3. Our loan profolio did indeed suffer significantdevaluation. By today's estimation I have heard as much as 50%. That is a large and significant number, and not one that I take lightly. However, we were an alternative lender who sought returns of 11-13%, and in return for higher yield, made alternative lending.

4. Our performance was greater than every otherone of our peersat the timeandat presentthat I am aware of. In 2009, we still had rougly 50% of our loans performing, while most of our peers had 10% or less of their loans performing. Our peers also reportedly suffered 70%-80% + devaluation of their assets, while ours was and I believe still is much less, thus performing much better than industry standard.

5. No one, especially hard money lenders, were exempt from the massive crash in real estate from 2007-present time. We lent on vacant land, construction, and other assets which in current times are not fairing as well as other sectors. At the time however, it was very attractive. Hindsight is always 20/20. Nontheless, that does not make it any easier to swollow the losses suffered. While we performed better than our peers, that does not deminish unfortunate reality of the global financial crisis, the economy collapse, and the real estate bubble that caught 95% of the world, including us.

6. The author of this slanderous, libelousand false reportwill be brought to justice, in addition to this ridiculous website that provides a conduit for uncensored nonsense, damaging the reputation of good people. First and foremost, the attorney general of each state has an internet crimes division. Second, there is a law against this, SB 1411 which was passed in 2010. Thirdly, the FBI has an internet crimes division which looks after matters such as this. Lastly, there is recourse in civil court against this website, it's creators who have enabled such blasfamy in many circumstances, as well as te person who wrote this false, slanderous, libelous, and sick report...A person whom I believe is seriously mentally ill.

To all those who have had to suffer through both reading this false report, I apologize. And thank you for taking the time to see through the sad and sick attempt to damage a person's reputation and read my rebuttal. Please use caution with reports on this website, as the owners of the site (while they think are hiding behind a corporate veil), knowingly and willfully help others publish false, public reports. Thank you.

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#4 Consumer Comment

Educate Yourself

AUTHOR: anonymous - (United States of America)

I am (was) an investor with Diamond Bay also.  I am currently stuck as an owner or part owner of various pieces of real estate that were used as collateral for the loans made by Diamond Bay.  That real estate is, in most cases, worth less than amount of money that was loaned on it.  That is certainly not the fault of Diamond Bay or Jordan Wirsz.  If you were to look at the loans made by Diamond Bay compared to those made by other hard money lenders, the Diamond Bay loans are in much better shape on the average.  Wirsz made loans based on appraisals from licensed, certified appraisers.  In some cases, it appears those appraisals were inflated.  Again, that is not the fault of Jordan Wirsz. From what I've seen, Wirsz did all the right things in making and promoting these loans.  If he has any fault, it is that he expected the people he dealt with to be honest, stand-up guys like he is.

I also have nothing bad to say about Oasis Loan Serivicing, the company that took over the Diamond Bay loans.  In my experience they have been honest and straightforward in trying to get as much of the investors money back as possible in this difficult real estate market.  Their biggest problem is in trying to get the investors to take responsibility for the things that come with property ownership, such as real estate taxes, insurance, and the cost of litigation from people like you who have no understanding of the conditions under which they loaned money.

If you want to blame someone for losing your unsuspecting mother's money, blame the political system that forced banks to make housing loans to people who couldn't afford them and the wall street club that packaged up those loans they knew were destined to fail and sold them down the line to other unsuspecting investors
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#5 General Comment

Time to pull your head out

AUTHOR: Anonymous - (United States of America)

No offense, but this is a totally skewed report. I'm also an investor with Diamond Bay and I'm also stuck in loans that cannot be liquidated at this point. BUT. I've been a trust deed investor for a very long time, and unfortunately every trust deed investor is suffering losses. The real estate market can't crash 50-80% and expect not to lose money or be illiquid. Thats just nonsense. There was no scam, nothing like that at all. They (the investments) are not worthless, but we'll have to wait and sit out this market for a while. Also, there is something else to consider for anyone reading this: The company that took over Diamond Bay's portfolio royally screwed them, and are now attempting a smear campaign to build credibility and get the investors to do what they want while throwing the old servicer under the bus. It's very twisted and skewed, not to mention they are trying to steer investors into a coral so they can have their own way and make their fees. I've known Jordan for a long time, and he's nothing but a nice guy. BTW, he's like every other hard money lending company...He lost it all when the business went, his situation is not unique. In fact, I still have performing loans from the old company. There are probably no other hard money lenders out there with performing loans at this point. So I'd take a second look at the "my poor mother got scammed" attitude and call it what it is; a real estate market crash where everyone who was invested in real estate from 2006 anywhere in this country has taken a big hit. Just my opinion, but I don't think a good guy should get thrown under the bus. Be wary of the new servicer Oasis, as they have lots of financial reasons to throw Diamond Bay under the bus. Anyone who posts anonymously trying to smear diamond or Jordan is highly suspect in my book.

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#6 General Comment

Time to pull your head out

AUTHOR: Anonymous - (United States of America)

No offense, but this is a totally skewed report. I'm also an investor with Diamond Bay and I'm also stuck in loans that cannot be liquidated at this point. BUT. I've been a trust deed investor for a very long time, and unfortunately every trust deed investor is suffering losses. The real estate market can't crash 50-80% and expect not to lose money or be illiquid. Thats just nonsense. There was no scam, nothing like that at all. They (the investments) are not worthless, but we'll have to wait and sit out this market for a while. Also, there is something else to consider for anyone reading this: The company that took over Diamond Bay's portfolio royally screwed them, and are now attempting a smear campaign to build credibility and get the investors to do what they want while throwing the old servicer under the bus. It's very twisted and skewed, not to mention they are trying to steer investors into a coral so they can have their own way and make their fees. I've known Jordan for a long time, and he's nothing but a nice guy. BTW, he's like every other hard money lending company...He lost it all when the business went, his situation is not unique. In fact, I still have performing loans from the old company. There are probably no other hard money lenders out there with performing loans at this point. So I'd take a second look at the "my poor mother got scammed" attitude and call it what it is; a real estate market crash where everyone who was invested in real estate from 2006 anywhere in this country has taken a big hit. Just my opinion, but I don't think a good guy should get thrown under the bus. Be wary of the new servicer Oasis, as they have lots of financial reasons to throw Diamond Bay under the bus. Anyone who posts anonymously trying to smear diamond or Jordan is highly suspect in my book.

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