He controls the construction company and moved all the funds to the construction company.
People lost hundreds of thousands of dollars. I know of a doctor, who lost over 200k in it. another lady over 250k, her life savings.
He and those bastards who helped him in the Ponzi scheme will burn in hell.
Among other creditors are subcontractors owed $4.7 million since work on the project halted in September 2012 and individual investors in syndicated mortgages, which could total $18 million, for which developer Steve Hyde acted as trustee.