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Dan Holbrook pushed real estate debt to San Diegans and then succumbed to it
I worked for Dan Holbrook during the episode with the Chernofskys. Dan was an imaginative guy with really bad ADHD, had a new idea every day...never finished other ideas...no follow through. I recall the day I was laid off. The sheriff was hours away from evicting Dan from his Carlsbad office and their was the mad scramble to get assets out of the office before the sheriff came. Only thing inaccurate about the story, Dan didn't have a large paid staff. Most were real estate officers, brokers, agents etc..he only had about 5 full time paid employees. Unfortunately for Dan, he failed to see or acknowledge the big picture, and refused to focus on tried and true methods in the industry...big money only come through hard work...seems Dan went from one big get rich quick idea to the next. As for the investors who lost money, I can say that some of those assets were in my opinion to pay operating expenses, ie...even my salary. I know Dan's life post the implosion of Atvantage hasn't been rosey with financial and persona family issues because of the financial issues. I am not going to defend Dan, it certainly sounds like from the article that he did some dishonest things, I can look back and see clearly that he must have. I think deep down Dan is a great guy, that got really in over his head and made some terrible decisions, that hurt a lot of investors. I could be wrong...and he could be a total Bernie Madoff type that deserves to be tarred and feathered..but from working with him, I think he really believed he was able to live up to the promises he was making..he believe in himself.— November 10, 2010 9:42 a.m.