Hughes Private Capital Real estate syndication went bankrupt reno nv

The Guardian Fund is in bankruptcy court as we speak with losses of $17,600,000.  Greg Hughes and Steve Sixberry are the owners.  They have been in business for 14 years.  It is either massive incompetence or fraud.  You be the judge.  They closed the fund and suspended distributions in December 2022Yet in October 2022 Greg Hughes was bragging that he had just sold an office building (a personal investment) for a capital gain of $2,000,000 and was placing the proceeds in his new fund Hughberry Vacation Homes.  He said he could not "jump the line" and place the money in the soon to be bankrupt Guardian Fund.  Once again to me this highlights the fact that he knew the Guardian Fund had problems way before they closed it.That beingn said there is no way I would invest in his current fund.  If he is massively incompetent I don't think he has addressed any of the old problems in his new fund.  If he is a fraud that is even worse.