Ted Hansen comes across as the consummate entrepreneur, involved in many different businesses, understanding none of them. What Mr.Hansen does know is excuses for not doing as he promised, mostly not paying what he owes. The number of civil judgements against him attest to this practice. He doesn’t pay employees, vendors, landlords, and especially not his so-called investors. He does have the ability to talk people out of their money. Most people do not want conflict and he knowingly takes advantage of this and delays payment with excuse after excuse. The man has taken me (most of it fraud) personally for over a million dollars. It doesn’t matter what he promised to do or to pay, once Mr.Hansen has his hands on the money or control of the money as managing partner, it becomes impossible to pry that out of his greedy fingers. He doesn’t pay it if it isn’t absolutely necessary and, if it is, he will take money from one deal or investor and pay another. All funds are comingled for his personal use and his reporting is so sloppy that he can’t even keep track of what he’s taken from Peter to pay Paul. I know he will go so far as to forge a signature or assume an identity to get at the money. If he does give you a check, chances are it won’t clear the bank. Ted is adept at kiting checks, writing them to people knowing there will never be enough money to take care of his obligations. One Utah bank got left holding a 2 million dollar bad check that Hansen had floated around for some time before getting caught. The bank never pursued to recover the money from Hansen because of the number of judgements already outstanding against him that were u collectable. Yet in spite of this blatant dishonesty, he has a loyal group of followers that will lie, cheat, and even participate in his scandals who work in his office with him. He lives in an expensive home in Alpine, although leveraged to the max, but has left millions in unpaid judgements and state tax liens unpaid. Why doesn’t the state go after him? I don’t know except to say that nothing EVER is in his personal name. His house is “owned” by his uncle but he may not even know that. He can’t even have a bank account in his name because everything in it would be garnished. Ted did achieve temporary success when he ran an empire of convenience stores (about 100 of them), but it soon fell apart because of incompetent and dishonest practices. Later he partnered with me in Detroit to buy foreclosed homes for $5,000 apiece. He was to fix them up and rent or sell them for his share of the profits. Instead he took his share by appropriating the best homes for himself, posing (fraudulently represented himself) as head of the company, and forging signatures to sell them for his own profit. All the while making excuses for why the homes weren’t making a profit. He has to this day not been accountable for the money. I have loaned Hansen more than $300,000 which he promised to repay with interest. What token payments I have received would not even cover the interest. I have sold him property and have seller financed part of the transaction. He defaults on the very first payment that is due. He promises to purchase fire insurance but doesn’t, forcing me into an embarrassing situation with the bank and making me pay for it. No matter how many times I call or text him, and after hearing him give all his false promises, I conclude that he is a liar, a cheat, and a thief and that nothing he has ever promised was meant to be true, but rather was said to steal money from me and dozens of other people that have been duped by his seeming good nature. Someone someday needs to make him be accoubtable for his business practices. Perhaps he’s good enough to be a candidate for the TV show, American Greed. Perhaps that day is not far off as the State of Utah continued to prosecute him for securities fraud. Frankly, that’s only the tip of the iceberg. .
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