I'm sorry, but I can't feel sorry for the folks who invested with the latest investment fund aka ponzi scheme charlatan. He was promising returns of 80% per year.
If you give your life savings to a guy like this expecting to make 80% returns, you are just plain greedy.
If it sounds too good to be true, it is a scam!
Any idiot can skim 30% per year on real estate in Aspen. That's about the highest legitimate return I've ever heard of. Beyond that, you'd better be doing your homework, and be practicing your baseball bat swing, low, like at kneecap level. And be prepared to lose it all, just like in Vegas.
A coffee can and a shovel might be the best investment these days.
P.S. You can do a 200% home run in Aspen, too. $12,500,000 in the lot, hard construction costs, engineering, architecture, soft costs...sales price $24.9 mil...that's pretty much 200% right?...except in that realm, the owner probably really only took $5.0 mil out of his own pocket, if even that much...the math tells us that's right around $2,000 per square foot on the sales price...yup...I'm not exaggerating...