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I think I just discovered a massive money laundering scheme in California and it has to do with this

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homelessness. Some of you may have seen this headline. $24 billion gone missing. Gavin Newsom

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no idea where it is and this money was supposed to have gone to tackling homelessness. Well I think

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I may have just discovered what happened to some of that missing money. Okay so this is San Diego

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Mayor Todd Gloria. He's been on quite the rampage in the last couple years making all kinds of

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public housing deals. Except when you look into it none of these projects make any sense. For example

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$145 million for 407 units. Here's another one $150 million, 270 units. This is absolutely bonkers.

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How is this going to solve anything? I mean you walk around East Village in San Diego and it looks

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like a freaking dump. But that's not even the whole thing. It gets even weirder. In all these public

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housing projects there's one investment group that pops up over and over again which is the Chelsea

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Development Corporation. Chelsea Development Corporation. Chelsea Investment Corporation.

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So I go to their website and they say Chelsea Investment Corporation is focused on creating

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and preserving high quality affordable rental homes. We take special pride in our ability to

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structure creative financing solutions that result in the development of award-winning housing

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that complements the surrounding neighborhood. And then I dig a little bit deeper and we find

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out that the Chelsea Investment Group is an investment fund that is based in the Cayman Islands.

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These are definitely the guys that you want to get involved with. But their HQ is in California.

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6339 Paseo Del Lago, Carlsbad, CA 92011. Now it gets even sketchier. 6339 Paseo Del Lago in

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Carlsbad is owned by this company called 13th and Broadway CICLP. 13th and Broadway CICLP is basically

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a shell company that's been formed by the Chelsea Investment Corporation. Let's go back to this

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property report. Okay. So if you go back to the transaction history, you'll see that in October

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2016, this headquarters, this building was sold for $3 million, $3.15 million. But in November

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of 2023, it's now worth $68.7 million. How does this make any sense? 2016, it was worth $3 million.

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Now it's worth $68 million. Then you look at the lender, it is the Housing Authority of San Diego.

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San Diego Housing Authority is not a bank, but it's certainly acting as a bank right now. $68.7 million

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to some investment group based in the Cayman Islands. Tell me this doesn't look like money

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laundering. I don't know. There's definitely some smoke here. None of this makes any sense. There's

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definitely, allegedly, I think something, these two are up to something shady. That's all I can say.

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Allegedly.