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High-risk real estate: Eldad Perry did not act alone

The murder of entrepreneur and businessman Eldad Perry will not significantly affect creditors, as his business has been run by trustees for over a year.

It therefore remains to focus on the questions of principle that arise from the affair and to think about how to protect those who have participated in "process-shortening" entrepreneurship.

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• Eldad Perry

• Real Estate

• Purchasing groups

• Creditors

Nir Kipnis

Friday, 15 October 2021, 10:45 Updated: 11:10

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In the end, the tragic story of the rise and fall of Eldad Perry, who was murdered this morning, is a story of an unsuccessful shortcut: both of the businessman, and of those who saw themselves as his victims.

After clearing up the criminal aspect, which may be material for Hollywood movies, we are left with a simple story about a misrepresentation, which is ostensibly the sole fault of the developer, but no less - also the fault of the victims who allegedly paid for an apartment and are forced to chase the ghost: Of their lives without checking the tassels.

Eldad Perry has had quite a few big real estate projects - that is, unlike others who have been accused of serious sales offenses, he at least really did what was written on his business card (how he did, that's a different story), but in the end what made him a living And swept investors to it, was the promise of a shortcut to wealth.

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The real estate developer and the murder scene. Many claims from those who thought they were buying an apartment and in fact became investors in Perry's real estate business (Photo: image processing, image processing)

Beware of too good deals

Some will be outraged at the comparison itself, but the main difference between buying groups and pyramid scams, is that recently innocent customers hope to do something out of the ordinary, while at first they are just trying to turn a real purchase into something less expensive than the regular buyer. Common to both: the naive belief that the method can be defeated.

But the method is the same as a casino: you can beat it here and there, but in the end the money stays with it, "at home", and not in the hands of the gambler.

At least as far as is now known, the death of Eldad Perry will not have a far-reaching effect on his creditors, whether it be institutional entities or individuals who have put their money on the deer horn and the dream of getting much more for much less.

This is for the simple reason that the companies he owns have been operating under trustees for over a year. Each time another problem became clear, someone else appeared who allegedly paid for an apartment but turned out to have actually lent money to the venture and more.

Sometimes it was even a conflict of interest between different creditors, which confused the trustees fairly and turned them from financiers to investigators who are surprised each time by what is under the last stone they picked up, in an attempt to rehabilitate what can be rehabilitated from Perry's group of companies.

According to the suspicion, there are quite a few customer-buyers who were convinced that they were paying prepayments for a real estate property, but in practice lent money to Perry's business. These are also the main victims of what was alleged, according to the complaints, to be fraud for apartments, will ultimately receive.)

As usual - this is a weaker less understood, are more likely to rely on presentations and -a sales people planed.

when this happens on a small scale, "wins" the businessman ripple Dadon (for example) will pursue him. When it happens on a huge scale - with debts of hundreds of millions of shekels, the pursuers are the ones who better not get you.

Imaging of the "Free Place" project in Rehovot: There were also successful projects for Peri Real Estate (Photo: AA STUDIO)

When promotional videos convey credibility, you start to get suspicious

It is tempting to deviate from the business realm and open a small window to the human psyche here: how easily people are tempted to put their money on shortcuts. Where does the naive belief come from that they will be the ones who will succeed in defeating the system and getting rich - or at least save quite a bit of money (as in the case of quite a few purchasing groups).

What’s more: how a sane person buys a once-in-a-lifetime purchase like an apartment, a matter of millions, without having a lawyer sitting next to him whose expertise it is, who will work to make sure there is no breach in the contract that jeopardizes the payments made before receiving the key.

Perhaps they watched the company's promotional videos, for example this one hosted by Gadi Sukenik (who has no connection of course to the offenses allegedly committed by the company), in which members of the Perry family glorify and happily purchase the company's credibility. The uniqueness of Perry Real Estate, as explained in the quasi-news video, is that the entire procedure is carried out under one roof, from the initiation stage, through planning to execution (by Solara, which purchased Perry and operated as a contractor).

The videos show happy buyers praising the company's credibility.

How is it that no one stopped for a moment to think why would a company that sells real estate, the purchase that should be the most solid and anchored in all possible collateral, repeatedly emphasize how reliable it is?

How many people are already buying an apartment in the millions At most, a few tens of thousands of shekels? Well - at least according to the case of Peri Real Estate, it turns out that a lot.

The murder scene of businessman Eldad Perry.

A tragic end to a story that has more than one tragedy (Photo: Roni Knafo)

Where are the professionals who were partners in the presentation?

But we are not dealing with psychology but with business - and therefore, with the understanding that suckers will never die but will only be replaced, the question arises as to how the system can make sure there are as few of them as possible.

And here the matter is much simpler: for all those chained companies, for any business that presents what may turn out to be a misrepresentation, for all those entities that turn out to be dubious there are lawyers, accountants, professionals who seemingly have the trust placed in them by virtue of being such.

There are ostensibly those who "cooked" account books and those who signed false financial statements and someone who stood in a well-groomed and well-groomed manner and presented slides in a presentation that the only reason it seemed too good to be true was because there was no truth, or at least not the whole truth.

Since there will always be a demand for this commodity, it is worth examining not only its manufacturers but also its courier: people who have earned handsome wages while making an entrepreneur who turned out to be a swindler, look exactly as he wanted to present himself.

Eldad Perry's empire, which collapsed long before it was overtaken by assassins, did not operate in a vacuum.

He had quite a few partners, senior and junior, who brought different people to invest in what on the face of it was not exactly what was presented to them.

Perry would not have gotten where he came from - even at the height of his fame but also to the end of his journey, without them.

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