Chris Maguire Vivid Funding, M-Development Ponzi scheme? Orlando Florida

I invested money with Chris Maguire and his company Vivid Funding (which later changed to M-Development) towards what he called a "Proof of Funds" loan.  Essentially, the way it was described, was that Chris would aggregate funds from many investors such as myself into one large cash pool.  Companies would pay a hefty fee to "use" those funds for short term transactions to improve their balance sheets.

We did a few transactions and everything was going fine until one day he told me that his funds were "frozen" and he wasn't able to pay me until they were "unfrozen".  Well, that was 10 months ago now and clearly this is all fabrication.  No ones accounts are frozen for 10 months.  Every investor I know who invested with him has not received their money back.  Chris supposedly hasn't done a deal since his accounts were frozen and has no other source of income that any of us know about.  However, he continues to live a lavish lifestyle renting a 10,000 Sq Ft home and driving Lamborghini's around town.

There is no explanation to this other than he is using his investors money to keep up his lifestyle.  This is the definition of a ponzi scheme.  There is simply no other rational explanation. 

Do not invest money with Chris Maguire or any of his realted companies.  I am still trying to resolve this issue through the court system and my team of attorneys.  But, for anyone else thinking about investing with Chris Maguire, don't fall into this trap he will take your money and spend it and you'll never see it again. 

Mike

Orlando, Florida