Based in Austin, Texas, Ferrum Capital LLC was known in the real estate investment community as a provider of "fix-and-flip" loans and rental loans. They positioned themselves as a bridge between traditional banking—often too slow for distressed properties—and the fast-paced world of real estate wholesaling and renovation.
The lawsuit surrounding Ferrum Capital LLC and its related entities involves allegations of a massive Ponzi-style scheme that reportedly defrauded hundreds of investors of more than $100 million
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: Prosecutors and civil litigants allege that Ferrum operated as a Ponzi scheme