Early this month, Frank Capri, former Mafia soldier and orchestrator of failed restaurant developments linked to Rascal Flatts and Toby Keith, was indicted on federal fraud charges. Capri emerged in Phoenix as a real estate developer in the early 2000’s, and is known for his failing restaurant development career. By 2015, more than 20 Toby Keith restaurants promised by Capri or his companies were never opened after Capri negotiated deals with developers and walked away with millions of dollars meant for construction pay. After working behind the scenes on Rascal Flatt’s failed restaurant projects, it was found that he “oversaw the hiring, firing, employee payments, permits, construction schedule and collection of development fees.”
Money meant to pay for the construction of these developments went directly into the pockets of Frank Capri. Frank Capri’s failing projects, in essence, are the inception of DrawAlert.
Unfortunately, funding transparency is not a common practice in the construction industry. Because of this, people like Frank Capri are able to get away with manipulating developers, demanding money and walking away with that money to the tune of millions. DrawAlert prevents this type of scenario from happening at the start of your construction project, by providing you with funding protection. To state things simply, DrawAlert solves issues while they’re still solvable, not after the fact and after you’ve lost your time and money. This construction administration software is the only mechanism that is able to dial in on funding issues while problems are happening.
DrawAlert: Changing the Construction Industry through Transparency
We want to see the construction industry change for the better, which is why we created this funding risk mitigation tool. DrawAlert is able to map out and organize your entire construction project from top-to-bottom. When an owner DrawAlert certifies their project, they inherently turn 90% of the stakeholders into watchdogs of their money. How? Because of DrawAlert’s ability to notify all stakeholders when draw payments are made. It’s simple: the owner makes a note in DrawAlert when a payment goes out, and stakeholders are notified by email so everyone knows when they’ll get paid. Not only can owners keep track of exactly what’s happening during the construction project, but the collaborative, cloud-based software allows anyone on the project to login at any time to see the status of the draws.
This funding transparency prevents stakeholders from being caught off guard by costly errors like tardy payments, disputes and liens that can delay – or even derail – a construction project. DrawAlert offers a high level of collaboration and transparency that has long been missing in the construction industry, and that would have prevented Frank Capri from getting away with his orchestration.
DrawAlert: breaking down barriers that once separated project owners from contractors and subcontractors, with one easy-to-use online portal. And don’t worry about the added price tag of adding DrawAlert to your next project. Subcontractors knowing there is aggressive funding transparency offsets the cost of DrawAlert. For more information about DrawAlert’s funding transparency, schedule a demo today.