The Grant & Gary Cardone Interlocking Scheme? Grant Cardone Ordered by US District Court to Disgorge Millions of Dollars He Took from Scammers Michael and Valerie Rando

Above: Credit repair scammer and ultimate Grant Cardone fanboy Michael Rando. This scammer and his wife Valerie Rando are $18.9 million lighter after paying the FTC a monetary judgment for their scam. The Feds took everything including their luxury cars, Michael’s Rolex, and Valerie’s $5,000 handbag.

Significantly, Grant Cardone was ordered to turn over to the FTC the millions of dollars the Rando’s had invested in his Cardone Capital equity funds.

In this article we show the financial and business ties between scammers Michael and Valerie Rando and the companies owned by Grant Cardone and Gary Cardone.

As we will conclude in this article, we believe a deeper investigation will show this same modus operandi in which Chargebacks911 supports scammers, thereby allowing them to invest millions of dollars into Cardone Capital. 

From the Stipulated Order for Permanent Injunction and Monetary Judgment the defendants Michael and Valerie Rando signed with the US Federal Trade Commission:

Scroll down to the bottom the read the document on the Rando’s financial activities. Created by Maria Yip, CPA, CFE, and CIRA who was appointed to serve as the Temporary Receiver for defendants Michael and Valerie Rando, the 209-page document shows clear financial ties between the Rando’s and Grant and Gary Cardone.

This document also shows how closely the twin brothers Grant and Gary Cardone work to send each other business. As the seed investor for Grant Cardone’s company Cardone Capital, Gary has always played a behind-the-scenes role while Grant has served as the showman in social media spotlight.

Just as Grant Cardone was launching his multi-family home buying spree with Gary’s money, Gary was launching Chargebacks911 with his then wife Monica Eaton, who is not a Scientologist. Grant promoted Chargebacks911 to his client base while Gary steered his clients to invest in Cardone Capital.

This is a true family business. However, as we recently reported, Gary Cardone and his ex-wife Monica Eaton now find themselves the subjects of a major civil lawsuit filed by the US Federal Trade Commission and the State of Florida. The complaint alleges and details fraudulent business practices conducted by Chargebacks911 on behalf of three of their major clients. Two of these clients disgorged $135 million in a settlement with the FTC. The third client, Gopalkrishna Pai, pled to criminal charges and will serve a term of 41 months in US Federal prison.

The Rando’s are a fourth client whose deep relations with the Cardone brothers offer an interesting look into yet another Scientologist-enhanced financial scam.

The Rando’s operated under several business names including The Credit Game; Prosperity Training Technology LLC; First Coast Matchmakers Inc.; First Coast Matchmakers LLC; Digital Business Scaling LLC; and Financial Consulting Management Group LLC.

Michael and Valerie Rando are such Cardone fans that they used these e-mails addresses:

In the stipulated order for permanent injunction and monetary judgment against the Rando’s, the US District Court in Jacksonville, Florida ordered Cardone Capital to transfer the millions of dollars in ill-gotten monies invested by Michael Rando to the FTC:

The stipulated order details the Rando’s investments of $6,950,000 in Cardone Capital:

In an earlier legal filing in the Michael and Valerie Rando scam, $3 million of their $6.950 million investment in Cardone Capital is cited:

The Rando Trust assets included $566,655 in investment distributions received from five different Cardone Capital equity funds.

The Rando’s were such hardcore Grant Cardone devotees that they awarded their top salesperson with a special honor. However, things did not go well:

We next learn why the Rando credit repair scammers needed the services of Gary Cardone and Monica Eaton and their scammer-protection racket known as Chargebacks911:

In his sales presentations for Chargebacks911, Gary Cardone claimed that 85% of chargebacks were “friendly fraud.” By this he meant “buyers remorse.” Cardone claimed that his services were needed to fight chargebacks based upon buyers remorse as such remorse constitutes fraud. This extreme dishonesty and avarice on the part of Gary Cardone leads us to believe that there is >50% chance that Gary Cardone and his ex-wife Monica Eaton will face criminal charges.

Gary Cardone called buyers remorse “friendly fraud.” However, as court documents show, buyers remorse was typically the result of high pressure telemarketing sales tactics, misleading statements, and fraudulent claims made by scammers who were clients of Chargebacks911. These same scammers also used contracts of adhesion in which no refunds were allowed.

Gary Cardone and Monica Eaton were hellbent to fight consumer chargebacks filed against their scammy clients. For this and other reasons, the FTC and the State of Florida have sued Gary Cardone and Monica Eaton. The lawsuit alleges Chargebacks911 knowingly and deliberately acted to aid and abet online and telemarketing scammers such as the Rando’s.

On a side note, we predict that Gary Cardone and Monica Eaton will reconcile and not go through with their divorce. We say this because being married means they do not have to testify against each other. Once the two reconcile they can credit Scientology marriage counseling. They can also move back into that big beautiful $14 million place on the water.

It is worth noting that Grant Cardone made an Instagram video in which he encouraged prospective clients who were going broke to pay for Cardone sales training with credit cards and then file for bankruptcy. Cardone argued that the banks would pick up the credit card charges while his new clients would keep and enjoy the benefits of Cardone sales training.

Aside from being an inducement to deliberately defraud credit card companies, we think Grant Cardone urged bankruptcy so that his Cardone sales training company would not have to face chargeback claims from unhappy customers. After all, if chargebacks went above 1%, Cardone’s sales training company would risk the loss of its credit card merchant processing vendors.

We consider Grant Cardone a hypocrite, fraud, liar, and con man. Scientology likes him because he donates millions of dollars. Our prediction is the the Feds will sooner or later indict the old boy and clawback the money he has donated to Scientology. Luis Pino already has Grant Cardone on the ropes. Here is Exhibit A:

The Rando’s employed Chargebacks911 to fight chargeback made by customers who had been conned by the Rando’s and their salespeople. This excerpt clarifies how chargebacks cost scammers and why they paid Gary and Monica Cardone to, among other things, send in false representments which allowed scammers to falsely keep the money obtained from fraud:

The Rando’s had invested $6.9 million with Grant Cardone. This alone was motive enough for Gary Cardone to fight to protect the Rando’s from chargebacks arising from their credit repair scam. We believe Gary Cardone felt he had a duty to keep the lucrative scheme going in which he and his brother enriched each other by reciprocal client referrals. This type of  self-dealing in family-owned businesses is nothing new.

We believe a deeper investigation will show this same modus operandi in which Chargebacks911 supports scammers and thereby allows them to invest millions of dollars into Cardone Capital. More to come on this ongoing investigation. Please feel free to contact us




5 replies »

  1. Oh, the volatility of Ill-gotten gains:

    Rando rips off the public with a bogus product. Cardone rips off Rando with a bogus investment scheme. scientology rips off Cardone with its bogus “religion.”

  2. The irony here is that credit repair scammers Michael and Valerie Rando now need the services of a credit repair company after the US Gov’t took all of their money in a civil forfeiture. The problem is that all credit repair companies are scammers. What are the Rando’s to do? Scientology won’t help them as they have no money.

  3. The Cardone brothers just can’t seem to stop scamming! Incredible! Imagine how successful they could be if they put all that energy into doing something for the good of humankind!

  4. I love how scammers can’t stop scamming other scammers. Like when Scis are scammed into a ponzi scheme by another cultist!

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