Mehrian's Unchecked Authority: Leaving a trail of Financial Devastation - Part 1

 

Mehrian's Unchecked Authority: Leaving a trail of Financial Devastation- Part 1

by Chuck Wordsworth   Pedram Abraham Mehrian’s management has been criticized for raising significant ethical and fiduciary concerns. His decisions have reportedly resulted in severe financial losses, property foreclosures, and a notable erosion of trust among investors. Allegations of preferential treatment, misuse of unchecked authority, and potential conflicts of interest have placed his practices under scrutiny.   Lease-to-Purchase Model Challenges At the heart of the controversy is the lease-to-purchase arrangement for the eight units at Barton 8. This model was offered only to eight lucky optionees the opportunity to own a home and apply part of their monthly payments toward a deposit or down payment, to buy the unit after 40 month-contract. However, the agreement stipulated forfeiture of the contract and lose the deposits if payments were missed or the purchase was not completed within the designated timeframe.   Critics argue that this ostensibly equitable model was undermined by questionable decision-making. Mehrian is alleged to have bypassed standard credit and income qualifications, instead he assigned the units to his favorite SLIG employees, personal acquaintances, and family members—including  himself through his mother, Mojgan Benlevi, who does not qualified for loan a 1.2 million dollar home. This practice raised concerns about financial feasibility, as it reportedly prioritized personal gain and relationships over sound investment principles.   Allegations of Preferential Treatment One key criticism involves Mehrian’s own role as an optionee. Reports suggest that he failed to make required payments, effectively living rent-free. Despite exceeding the 40-month term without completing the purchase of his unit, his option agreement reportedly remained active, and his accumulated deposit is preserved. This exception starkly contrasts with the enforcement of contract terms on other optionees, who forfeited their deposits upon similar failures.   Conflicts of Interest and Lack of Accountability Mehrian's dual roles as a manager and optionee in the project have raised concerns about conflicts of interest. As he is the individual responsible for enforcing evictions and overseeing financial accountability, Mehrian has reportedly failed to apply these standards to his own situation. Critics argue that this undermines the integrity of the lease-to-purchase model and creates disparities in how the rules are applied.    Unanswered Questions What happens to the deposits from option holders who forfeit their agreements? Who retains those funds, SLIG, Mehrian, Investors? Are these forfeited deposits being documented and disclosed? Why aren’t all the units being publicly listed for sale? Is the lack of public listing potentially limiting the ability to maximize property value or investor returns? Why private or off-market deals being prioritized over public listings? If Mehrian has forfeited his agreement by failing to purchase the unit on time, why is his unit still not listed for sale? Is there favoritism or special treatment being extended to Mehrian despite his failure to meet the agreement? Are there safeguards in place to prevent conflicts of interest or mismanagement of funds and properties? What steps are being taken to ensure fairness and transparency in the sale of these units?   Conclusion To restore investor confidence and ensure fairness, it has been suggested that all agreements—including Mehrian’s—be enforced uniformly. This would involve Mehrian vacating the property, forfeiting his deposit, and listing the unit for sale in accordance with the original contract terms. Implementing transparent oversight mechanisms may also be essential in preventing similar issues in the future and prioritizing the interests of investors over individual gain.   TO BE CONTINUED.   Upcoming Newsletters: Part 2: Unchecked Authority: Leaving a trail of Financial Devastation $19,000 false damage claim Finger-Pointing 101 with Professor Mehrian Who are the lucky Barton buyers? : Reviving promissory notes. The Novel Family.