Quote Originally Posted by Pete View Post
I'm still checking into a lot of Matteson's claims, including this one in the 3/10/24 Oklahoman article:



He then goes on to list several famous people as investors.


According the the SEC database, there is no such thing as Legends Capital Management Fund. Private equity funds are required to file forms with the SEC; not all are required to fully register but they must at least apply for exemption.

I can see five previous funds where Matteson was involved, the last one being in 2013 when he was trying to get his surf resorts off the ground. But there is nothing in his name since and nothing at all named Legends Capital.

He could be talking to investors, but in order to legally solicit funds he has to at least file forms with the SEC.


As background, what Matteson has done in the past is, along with partners, create private investment funds whereby individual investors are solicited usually in increments of $25K, and then the funds are pooled and used for development. The investors get an equity share as a Limited Partner in the properties. It's a very common approach in commercial real estate deals; Strawberry Fields is a recent example and they have filed many forms with the SEC.
Don't the "partners" then receive fees (from the raised capital) for managing money? By doing things like paying for renderings that bring in more investors that will need to have their money managed.