For those of you that remember the project, this will come as no surprise. Anyone remember a company named DreamVision that promised not one, but two theme parks opening in Alabama and Texas? Yes, the company claimed that they already had the 3 billion dollars in financing in place and they were ready to move forward with development of these music based theme parks shortly after announcing them in 2016.
From the very beginning, we started raising red flags about the DreamVision project. There were a ton of warning signs from the ridiculous and uninspired concept art (seen above) to city officials in Alabama never being contacted by DreamVision to get zoning of any kind. Basically, we wrote articles to ensure that potential investors stayed away from this particular project. Because despite what they were saying, we did not believe that DreamVision already managed to secure over 3 billion in financing a few weeks after they made the announcements that this thing was opening.
Not surprisingly, we were right on the money… or no money, as the case may be. Bryan Keith Robinson, one of the head honchos of DreamVision, was just sentenced a 10-year prison sentence and ordered to repay $7 million back to investors. According to court documents, Robinson told 47 investors he would use their money to finance the theme park project, but instead used them “for personal expenses, for other investments not related to the stated purposes, for which the investors would not have agreed, and to repay in Ponzi-style payment monies to other investors.”
DreamVision was not the first company financing a theme park who managed to swindle investors money and it certainly won’t be the last. Indeed, it would be really cool to own part of a new and upcoming theme park project. But these are beasts to develop, market and operate. Do your homework before investing. It’ll save you a lot of headache and money in the long run.
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