There was a guy on REIClub.com that used to consistantly push a similar thing called a NARS PACTrust (by Bill Gatten, see more info here). I never got the full details, but he was always being called out by other investors on the board. After a while, the moderators finally banned him - not because of what he was pushing (although many there questioned it), but because he kept violating the TOS. John T. Reed has a write-up about Gatten's PACTrust here. Again, I'm not saying the PACTrust and what you are mentioning are the same thing, only that they sound similar.