Buyer Beware: 5 Star Prepper “Doomsday Resort” Filing For Bankruptcy
Trident Lakes-“So Called” Prepper’s Paradise Filing For Bankruptcy
Arguably, preppers are now no longer limited to the “fringe” elements of society. Now, the 1% are prepping for when the SHTF as I have shown in previous articles. Also, entrepreneurs have purchased old munitions depots in South Dakota and are leasing them to the prepper community. Click here for more info on this recent trend.
As it is, unfortunately, to be expected, fraudsters are now trying to capitalize on this new phenomenon on real estate development geared toward preppers. The first incident of this that I’ve heard about is a recent real estate investor filing for a chapter 7 bankruptcy:
Trident Lakes, a residential community marketed as a five-star resort built to withstand a nuclear war, on Thursday filed for Chapter 7 bankruptcy, according to court records. North Texas Luxury Doomsday Resort Files For Bankruptcy « CBS Dallas / Fort Worth
This is most likely a not simply an unfortunate case of a failed business as the contractor is under indictment for money laundering.
The filing comes a week after CBS 11 News reported that the development’s owner, John Eckerd, is facing federal criminal charges. According to the FBI, Eckerd agreed earlier this year to launder millions of dollars in Colombian drug money through Trident Lakes. He has been free on bond since being arrested in March. North Texas Luxury Doomsday Resort Files For Bankruptcy « CBS Dallas / Fort Worth
I have not read any of the bankruptcy filings for this matter. However, a chapter 7 bankruptcy can be the most damaging form of bankruptcy for creditors because under a chapter 7 debtors normally lose all of their money. So, like with all business/real estate transactions perform due diligence and be sure to not get swept up the new corporate attempt to exploit preppers.