Elie Schwartz is a real-life cautionary tale: a Brooklyn IT guy turned $10 billion real estate "visionary," now reduced to courtrooms and creditors. His downfall reflects an industry seduced by dazzling optics but allergic to due diligence or basic cash management controls. Crowdfunding platforms like CrowdStreet offered Main Street a slice of the big leagues but forgot that Wall Street rarely plays by playground rules. Perhaps CrowdStreet should only release funds to a closing escrow so that the money goes exclusively to the intended deal. Betting on high-rises with low margins and a dishonest operator is like building castles on quicksand! Schwartz’s mansions might not sell for what he paid, but the lessons here? Priceless. https://lnkd.in/eeVN8JbD