... Soon after the first parcel of land was placed under agreement, conman Ken Johnson was able to defraud his partners of their share of the project and take complete control.[3] He did not work to develop the properties for a community, but instead worked an affinity scam...

November 1, 2016 - Johnson employed deceptive selling practices, violations of US and Chilean law, money laundering, and multiple jurisdictions to defraud his investors of US $10.45 million ($10.05 million with GGC and $400,000 with tangential scams). Johnson’s total invested capital: $ZERO.

Johnson employed deceptive selling practices, violations of US and Chilean law, money laundering, and multiple jurisdictions to defraud his investors of US $10.45 million ($10.05 million with GGC and $400,000 with tangential scams).

November 2, 2016 - Future convicted felon Kenneth Dale Johnson Actually, there was fraud the whole time at Galt’s Gulch Chile, beginning, middle and end. But in this post, we’re focused on the… by ggcrecovery

September 30, 2015 - In the comments: "Well of course Galt's Gulch Chile was a scam.

October 18, 2017 - Con man Ken Johnson uses cultural exchange website to get free labor from unsuspecting 1st world backpackers. Fraud never sleeps at Galt's Gulch Chlle.

Galts Gulch Chile - "fraud" - Galt's Gulch

October 22, 2015 - All you need to know about GGC to sort out the good guys from the bad guy is that $10.5 million was sent to Johnson for developing a project; yet we have nothing to show for it. A realtor friend in Chile told us, “I could have developed two communities with that kind of money.” · Cathy Cuthbert Galt’s Gulch Chile Recovery Team San Luis Obipso, California

November 1, 2016 - And that is how Johnson defrauded his three partners and took total control of Galt’s Gulch Chile without providing any capital. Not. One. Thin.

September 1, 2013 - Comparing the comments in this thread to the same topic on r/bitcoin is quite a humorous contrast: http://www.reddit.com/r/Bitcoin/comments/2evhvf/galts_gulch_chile_libertarian_paradise_is_yet/ ... It might have been a scam, and it worked with bitcoin, but it's sure as hell not a bitcoin scam!

August 26, 2016 - I don't think anyone is accusing him of planning it ahead of time or intentionally designing the scam himself. Ken Johnson played more of the active role while Jeff just slithered off into the corner and let it all happen, even though his name was on it as a co-founder. When I met him in person, I told him that I was moving to Chile to join GGC and rather than admitting his failure and warning me away, he encouraged me to proceed as if all was well.

December 30, 2015 - Rebeca Morla writes in the PanAm Post of the hope that remains for the partial recoup of losses from a scam that was marketed to Libertarians in Chile · The legal battle for Galt’s Gulch Chile (GGC), the development project inspired by Ayn Rand’s dystopian novel Atlas Shrugged, is heating up.

March 27, 2016 - The following is an email to a GGC investor describing Johnson’s fraud and incompetence around establishing the original entities for Galt’s Gulch Chile. Whenever the equity investors asked for their shares to be transferred to them, Johnson gave the excuse that the off-shore corporate structure wasn’t complete and that he had to have various people help …

August 26, 2016 - Dude!!! Take a chill pill. Give Jeff a break. He made a mistake. Don't throw the baby out with the bath water. Jeff has done way more good than harm over the past 10 years. Basically, he got screwed over by his new business partner down in Chile. Everybody makes mistakes man...

November 1, 2016 - Johnson employed deceptive selling practices, violations of US and Chilean law, money laundering, and multiple jurisdictions to defraud his investors of US $10.45 million ($10.05 million with GGC and $400,000 with tangential scams).

February 14, 2019 - This wreaks of scam–$1M revenue per year for fish? Selling electricity? Selling water??? Too bad they didn’t continue on this vein, I would have been spared my losses since I wouldn’t touch the project with a ten foot pole with Cobin and his spin involved. I am sure that had Johnson not been Johnson, he would have been able to find someone in Chile to develop the project.

July 29, 2024 - Two years after Galt's Gulch Chile was founded, the utopian project is mired in personal and legal conflicts and investors now claim that the guy in charge is a sociopath and a con man.

September 14, 2021 - The price in bitcoin is not listed on the site. Johnson said the money from the lots sold will be used to acquire more land, plus fund infrastructure development and operations. ... People have been stung by scams involving bitcoin recently, ...

November 2, 2012 - I live in Chile, only one hour away from GGC. I know people who bought land there and are totally enthusiastic about it. GGC is an ambitious project but I never went there to see it for myself and the sales pitches seamed shady to me. In fact the water rights are what I'm most irritated by, as those are a fundamental part of their sales pitch. I still hope this can be sorted out, as the scam-accusation given by OP doesn't look especially un-shady to me neither.