Jay Morrison, Atlanta real estate mogul and husband of viral Arsenio Hall poet and owner of several IMDb credits in forgettable roles, Ernestine Johnson Morrison, has been accused of running off on multiple plugs. One of Morrison’s many ventures, The Tulsa Real Estate Fund, which actually has nothing to do with Tulsa other than pulling on the heartstrings and wallets of Black people, is being labeled fraudulent. Even though Morrison credits himself as a real estate mogul, excuse me, “real estate miracle,” he admits that he has no college education, and the only formal training he has is cooking crack the way his father taught him, issa family recipe.
In fact, Morrison, an ex-con (but really a current con, teehee), is a third-generation crack dealer; OMG, we love generational destruction. Now, there are drug dealers out there who are really nice people, but selling actual crack to poor Black people and then turning around and selling homes in those same communities reeks of questionable ethics.
Jay Morrison showboating with investor money. If never stole my money 90% of my haters don’t exist but watch his wife I knew sum was off this night… pic.twitter.com/G6SSLKSHPH
— Tony “The Closer” Robinson (@tonythecloser_) May 12, 2024
Morrison, who has been accused of operating a Ponzi scheme, admits that his crowdsourcing investment fund has not made money, but that does not mean that you should stop throwing money at his feet. Actually, the real estate mogul miracle has lost millions of dollars for investors every year for at least four years. While it is not uncommon that managers of funds receive pay, Morrison has paid himself more money for managing the fund than the fund has taken in each year. According to investigative YouTuber Spencer Cornelia, in 2022 alone, Morrison spent three times the revenue that his company made. I was always under the impression that the captain goes down with the ship, but if you are a pirate, then I guess you’re in a totally different boat.
Cornelia also reported that Morrison had as many as 15,000 victims. That’s a lot of people, but Jay, like most snakes, seems to have a tongue adept at moving fast enough that you are so entranced by his words that you don’t know you are about to be bitten. A better wordsmith than his so-called poet wife, Morrison has a magnetic charm, intact hairline, and convincing enough veneers that make it easy for someone to fall for his gimmicks. He really looks like a nice guy. In fact, he looks like a Christian.
Wait, he is a Christian? And when have you ever heard of a god-fearing man cheating people out of money…at least without being a preacher? Oh, wait. He is a preacher, but don’t you worry because that does not stop him from making it a point to showboat on social media with wads of hard-earned cash… from his failing business venture.
Boyce Watkins is being accused of helping Jay Morrison fraud Black Investors out of Millions, in that Tulsa Real Estate Fund… It’s being alleged that they were in business together for almost 10 years!
— Light Bearer (@LightBearer1984) May 7, 2024
Should Boyce Watkins be investigated?#JayMorrison #BoyceWatkins… pic.twitter.com/7XFPxx4SrX
Even though people like Dr. Boyce Watkins had once endorsed the fund, he also stated that it was highly suspicious that Morrison was that there was no actual board of directors for the fund.
According to the JT the Pocket Watcher on Youtube, Jermaine Dyshon Morrison and Morrison filed for bankruptcy about a month before the Tulsa Real Estate Fund LLC was established. In August of 2018, the NFL Players Association released a letter alerting its players not to invest in the fund, as both Morrison and one-time business partner Olutusin Oduwole both had criminal pasts, and the fund showed too many risk factors for investors. On May 3., of this year, the Instagram page @tulsarealestatefund announced that their flagship property, The Legacy Center, also affectionately known as The Black House, a 35,000 sq. ft. event space in East Point, GA, was sold for $3.65 million.
According to real estate investor and Tiktoker Julien Gordon, the property had a $1.5 million mortgage, and many commenters who claim to also be investors stated that they were not told that the building would be sold and were not informed of any profitshare as well.
Many showed dismay about ever receiving their money back. Gordon also operates the website tulsarealestatefraud.com, which is not to be confused with tulsarealestatefund.com, which is taking names for its investor waitlist for the next funding cycle.
Tulsarealestatefraud.com is a 224-page Google doc that details many of the issues and supposed lies told to investors by Morrison, including the purchase of the Morrisons’ personal residence through a number of LLCs linked to the fund. Morrison has also been accused by Tony “The Closer” Robinson of backing out of a co-sponsored event where he was to give away $100,000, leaving Robinson on the hook for the event and the giveaway.
Morrison admits that early on, he was investigated by the SEC, the DOJ and the FBI, but that should show he has been cleared of any wrongdoing, even though investors are still complaining about not receiving any return or information. Part of his sales tactic is to reveal partial truths to humanize himself more to his potential prey.
As part of his comeback story and testimony, Morrison reveals that he once lost everything due to womanizing and gambling, as well as several business disputes.
Morrison wants you to know that he does not always have everything figured out because that is where your empathy and money need to go to someone who is bad with women, bad with money, and bad with business. It’s giving plausible deniability. LLC Atlanta has done it again. It seems that there are no lengths that some people will take to stretch their own people thin.
Beware folks, they scamming everybody, even their own.
