ED Magedson – Founder
Nouveau Riche Corporation, Nouveau Riche, Nouveau Riche Education, Nouveau Riche Collegephoenix arizona Internet United States of America
Nouveau riche is a legitimate school but heres the problem. You have a CEO who is phony and fake who tears down his leaders! He has bitched out ISA's and students on the national calls, has literally yelled at and belittled his entire leadership team on leadership calls and wonders why the entire original leadership(some making a Million a year) to leave the company. That should tell you something. Not to mention these people bought into his lie of buying stock in the company and guess what...it tanked. Some peopel pais anywhere from $100k to $250K...ooops The promise of a Nouveau School for investors in a state of the art building on top of s peak over looking Phoenix.That never came to fruition due to the fact he did not realize its an unbuildable mountain with lava rock!!! Good move Mr CEO. Now here's a good one. NR is a real estate school and the marketing team is marketing real estate. But up until 2009, they literally told ISA's, IRA's and INA's NOT to invest in real estate ..or do it together. WHAT? You heard that right..don't do real estate!!! Here's why..NR makes no money if their marketing team does real estate, not recruit people into the marketing. Unbelievable...way to go CEO and MR General...degrade your entire leadership to do the one thing you promote the most and to do what 74% of the wealthy did right..but don't you do it or else.
Thank God I did real estate or else I would be in trouble since we know that NR has tanked and gone down the tubes. No growth and no motivation. No one is making any money..what 5 people in the entire company. Where's your original fab 5?? HHHmmmmm they bolted for other endeavors and to be a part of another company that treats them with respect!! Not too mention the real market expects..every person I know who bought property through them including myself has gone in to foreclosure. RME bought properties at the height of the market and sold it to us..now they are all upside down and all gone. And to top it off, RME is selling foreclosure properties to the very same peole who lost everything. What a joke!
Now lets talk about the lawsuits and bad deals that occurred. Let's start with Chalemoix homes in Phoenix. So many people bought $50K into units of this supposedly great development. Some people used their entire retirements and lost everything!!! No one has gotten a penny back..good move Mr cottrel. The michigan condos..another sad story for people. I could go on and on. This company has ruined so many peoples lives with false hopes and promises. The education is good but take it and run...dont do business with NR or its affiliates.
This report was posted on Ripoff Report on 11/19/2009 12:11 AM and is a permanent record located here: http://www.ripoffreport.com/reports/nouveau-riche-corporation-nouveau-riche-nouveau-riche-education-nouveau-riche-college/internet/nouveau-riche-corporation-nouveau-riche-nouveau-riche-education-nouveau-riche-college-525607. 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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