Comment on Missing Alameda man owes $113 million in federal judgment

Missing Alameda man owes $113 million in federal judgment

A 73-year-old man who mysteriously vanished Tuesday is facing a $113 million judgment from the Federal Trade Commission over a get-rich-quick infomercial scam. John Nelson Beck of Alameda was the man behind John Beck Amazing Profits LLC, which put out infomercials marketing “John Beck’s Free & Clear Real Estate System.” According to court filings, the infomercials falsely told consumers that they could easily make massive amounts of money by buying homes at government tax sale auctions and immediately flipping or renting them.

 

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