They have expansive subject matter expertise in the real estate industry with over 70 years between them – David as a real estate lawyer, and Allan as a developer and builder. They also have substantial expertise about the topic of real estate-related fraud crimes – David as a real estate fraud prosecutor and Allan (unfortunately) as a major victim of an infamous con artist known as the Madoff of Beverly Hills. Throw into the mix Allan’s successful exit from another software company and the two of them create an explosively powerful team.
David and Allan intimately know the loopholes in the real estate industry that fraudsters take advantage of, but they approach these problems differently than most startups. Rather than trying to create products that replace existing systems and processes, they seek to improve them.
For example, our society relies upon notaries to ensure that only the true owner of a property can sign a deed that transfers ownership to another person, but modern technology enables criminals to circumvent notaries. This is why they created the Veri-Lock™ Notary App: to enhance the existing notarial process. Also, we use title insurance to protect homebuyers from title fraud that occurred before they purchased the property, but title insurance does not protect homeowners from title fraud that occurs after they own the home. This is why we created TitleShield™: to fill that gap. Like the notary stamp, we rely on engineer and architect stamps to prove the authenticity of construction documents, but these professional seals are easily forged. This is why we are developing the Veri-Lock™ Construction App: to enable municipalities to know with certainty whether documents are real or fake.