Lennar: Ponzi Scheme?

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This report is far more than a "he said, she said" argument between litigants. Instead, it connects the dots of the public record and other documents to prove that Lennar Corporation has a pattern of behavior over a sustained period of time of knowingly and willfully abusing the legal system to gain an unfair advantage over the less capitalized, smaller entities.

Uh oh.

Lennar Corporation (NYSE: LEN) treats their joint ventures exactly like a Ponzi scheme, pledging their older joint venture interests to leverage themselves into newer joint venture relationships despite operating agreements that prohibit this unauthorized movement of interests.

That's alleged Ponzi scheme #1 for today. Can we match, or even exceed, yesterday's trifecta again?
Update: JP Morgan issued this yesterday: "JPMorgan Thursday upgraded Lennar Corp to overweight from neutral."
Woops.
Lenn-ron (.pdf) [The Fraud Discovery Institute]

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