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Lawrence Foster

Financial, IT, Real Estate

"Lorenzo" Lawrence Foster was the President of Paradise Is Mine, LLC, a company that fraudulently offered investment opportunities in purported land developments in the Bahamas.13 From December 2009 to January 2013, Foster ran a scheme that defrauded investors, raising approximately $8.3 million.3 He was found guilty of conspiracy to commit wire fraud for his role in this fraudulent operation.1

Foster made several misrepresentations to investors, including:

  1. Fabricating news articles about Paradise Is Mine3
  2. Promising fixed interest rates of 10% to 20% on investments3
  3. Guaranteeing full return of principal in some cases3
  4. Falsely claiming investor funds would be used for a residential development in the Bahamas3

In reality, less than 3% of the funds raised were distributed as interest payments to investors.3 The remaining money was used for cash withdrawals, payments to unknown individuals and entities, office expenses, and purchases of rare coins and jewelry.3

Foster's LinkedIn profile likely presents a sanitized version of his professional history, omitting his criminal activities. His profile may highlight his roles in business development, real estate, and fashion2, but it's important to note that his primary recent "business" activity was a fraudulent investment scheme.

Highlights

May 27 · sec.gov
[PDF] Lawrence Foster - SEC.gov

Related Questions

What was the outcome of Lawrence Foster's trial?
How did Lawrence Foster's scheme impact the investors?
What role did Paradise Is Mine, LLC play in the fraud case?
Are there any other individuals involved in the Paradise Is Mine, LLC fraud?
What was the total amount of money involved in the Paradise Is Mine, LLC fraud?
Lawrence Foster
Lawrence Foster, photo 1
Lawrence Foster, photo 2
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Location

Miami Beach, Florida, United States