Nouveau Riche University

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(Redirected from NRU)

Nouveau Riche University is an unaccredited^[1] seminar company specializing in real estate investing. The so-called "university" is generally viewed by savvy real estate investors as an overly elaborate scam operation of the multi-level marketing variety. Casey Serin attended a week-long NRU course in Phoenix in late 2006, and paid the full tuition fee of roughly $16,000. Serin, who was already deeply in debt at the time, took out a loan for the full amount of the tuition, plus an additional $4,000 for no particular reason.

Serin had a balloon payment due on May 22, 2007 for the full amount of the loan plus an additional 10% in "loan fees", for a total of $22,000. Par for the course, Serin plans on ignoring the payment and screwing over the people who loaned him the money. As part of the pyramid scheme, Serin claims to have recruited two other people into taking NRU's classes; however, it is only after a third referral where the recruiter gets paid any fee.^[2].

Moving one step up the pyramid, the man who recruited Serin into NRU was Chris Record. Serin's one-time "money partner", Glenn Snow, is also an NRU member.