ED Magedson – Founder
Drew Morrison dba CityGuru of Seattle900 First Avenue South, Suite 412 Seattle, Washington USA
Drew Morrison dba CityGuru of Seattle Path Investments Group, LLCPath Auction LendingPraesto Community Fund STOP before investing money with Drew Morrison and CityGuru of Seattle! Seattle Washington
Are you about to invest money with Andrew (Drew) W. Morrison and/or into one of his business ventures such as CityGuru of Seattle, Path Investments Group, LLC, Path Auction Lending or Praesto Community Fund?
STOP until you have done your due diligence. Know what previous investors know before you put your own money at risk!
Start your due diligence by checking the Public Records. Public Record Case No. 13-2-03663-1 in the Supreme Court of Washington, King County, reveals Mr. Morrison was found to be in default of a $500,000 Promissory Note, funds that consisted of the Investor's life savings and retirment funds.
In the above case, Mr. Morrison had taken IRA/retirement funds from an investor with the promise of investing/managing them into the companies, real estate and/or ventures names above. Instead, the Investor received no return on investment, no accounting or records of where the money went, as he attempted to follow and understand the quick shuffle that Drew Morrison preformed from new venture to new venture with nothing to show for it afterwards.
When Drew Morrison focused his attention and funds on a new venture, CityGuru of Seattle (Formerly known as On The Go Technologies), the Investor demand withdrawal of his funds and refusal to participate in the new venture. After several promises and no facts (or money) to present, the Investor filed a formal complaint against Drew Morrison in which the Complaint filed with the Superior Court of Seattle named numerous possible offenses that could provide serious consequences for Drew Morrison. This letter of complaint from the Investor's Counsel is available upon request and will reveal several charges that might cause you to think twice before giving Morrison or CityGuru your money.
In an attempt to side-step more serious charges, Drew Morrison agreed that he owed the Investor almost $500,000 in funds and agreed to sign a promissory note to that effect. However, before signing the Promissory Note, Drew Morrison demanded the Investor release him of all liability and potential charges by counter-signing a Release Agreement which, in essence, agreed not to hold him responsible for any wrongdoing.
Once the Release Agreement was executed by the Investor who simply wanted his retirement funds and life savings back, Mr. Morrison's own Counsel claimed the Promissory Note was void and null because the Investor had not given "consideration" in return. It seems Drew Morrison had "forgot" to inform his own Counsel of the Release Agreement which was as the Court agreed "Consideration" given in return for the Promissory Note.
In effect, this was a show of Mr. Morrison's true intent: which was to never pay back the funds. It was also a demonstration of Drew Morrison's character and methods he may resort to when raising and mismanaging business funds.
However, the Superior Court of Seattle agreed with the Investor that Drew Morrison, indeed, had entered into a contractual agreement to repay the Investor his full due. A Judgment was awarded against Drew Morrison is now on record stating many of the facts of the case that are freely available for your own due diligence and consideration.
In all liklihood, Drew Morrison used these retirment funds as seed money for his new start-up in Seattle called CITYGURU, catering to travel and hospitality professionals. A self-styled Gangnam, along with little bow-tie and expensive clothing, Drew Morrison considers himself a guru of sorts in founding start-up companies. He is no doubt, a superb Salesman and BS artist; all the more reason you should do your due diligence in checking out his background and previous investors before signing your own money to him--regardless of the wealth he promises.
If you are adventuresome with your money, do your due diligence and then secure all your investments with him or his affiliates using first deeds of trust on real property owned by Drew Morrison and Affiliates. Better yet, invest your money in other sources where you will not have to resort to having Counsel represent you in getting your money back.
Along with Drew Morrison, you may be propositioned by his affiliates as well in raising funds for CityGuru of Seattle. This would be a logical tactic of Drew Morrison's if it becomes public knowledge of his business style. Knowing who these affiliates are may help you to protect yourself. They will be, of course, associated with the start-up company, CityGuru, and may be but not exclusive to: James A. Billmaier, CEO of CityGuru, T. Olin Nicholus, CFO of CityGuru, Susie Paik, Director of Operations for CityGuru and Quentin Incao, Advisor for CityGuru.
Should you decide to give your money to Drew Morrison or his company, CityGuru, may we recommend the following?
1. Do a thorough background check and Public Records and contact Previous Investors (but don't use his referrals). Check out Andrew (Drew) M. Morrison, CityGuru of Seattle, Washington, Path Investments Group, LLC, Path Auction Lending, and Praesto Community Fund (All of these companies/non-profits were fronts used by Drew Morrison to raise business funds).
2. Ask LOTS of questions....and if you don't understand his answers....ask the question again or try to re-phrase it. Remember: Drew Morrison prides himself in his Selling Tactics and his double-speak can put any politician to shame.
3. Ask for all promises and commitments from him in WRITING. If Drew Morrison refuses to do so, that is all the reason you need to walk away.
4. NEVER sign over money to Drew Morrison or CityGuru unless it is SECURED with Real Property that you will have recourse to in the event he falls short on yet another promise. You should then ask your attorney if he/she would invest their own money in return for the security being offered. If no, then you probably should reconsider.
5. NEVER sign a Promissory Note with Drew Morrison. Though it is a legal Promise; he has already demonstrated--it means nothing to him.
6. NEVER sign a PPM or Private Placement Memorandum with Drew Morrison. By nature, these documents are legal license for you to lose money, and is the perfect excuse for the likes of Drew Morrison to lose it for you.
7. IF you are gutsy enough to give Drew Morrison money, DEMAND written accounting/fiscal information of him and his company EVERY month...and hold him accountable for doing so! IF you get this accounting data--have your Accountant to review it thoroughly and ask your Accountant if he would be satisfied with the report if it was HIS/HER own money?
8. Drew Morrison is a likable guy...do yourself a favor and enjoy his company; let him buy the drinks and expensive dinners and wow you with all his latest dreams of grandeur--but KEEP YOUR MONEY IN THE BANK WHERE IT IS SAFE!
This report was posted on Ripoff Report on 12/23/2013 01:12 PM and is a permanent record located here: http://www.ripoffreport.com/r/Drew-Morrison-dba-CityGuru-of-Seattle/Seattle-Washington-98134/Drew-Morrison-dba-CityGuru-of-Seattle-Path-Investments-Group-LLCPath-Auction-LendingPrae-1109446. 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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