Armando Montelongo Faces Civil RICO Law Suit
Many that have followed me over the years know that my first exposure to Real Estate education was through one of Armando Montelongo's very first bus tours. I was told I would be rich, that being in his inner circle was all I needed to find deals, lenders, agents, contractors and all that is needed to achieve wealth - at least that is what I remember of the promises.
Naturally when I got home I realized after attending some REI meetings that I didn't know enough about real estate in my local market. I bought more programs, listened to as many podcasts as I could, and watched as many webinars as I could as I found the path of investing that worked for me. I'm still here, investing in real estate, and no, I'm not rich yet.
Armando Montelongo Now Faces a Civil RICO Lawsuit Backed by 164 Former Students
Here is an excerpt from the press release:
Emergent has filed suit under the federal Racketeering Influenced and Corrupt Organizations Act ("RICO") on behalf of 164 former students of "Flip This House" star Armando Montelongo and his companies, alleging that the real estate mogul's educational offerings -- which cost up to tens of thousands of dollars, and which are attended by thousands of students every year -- do not live up to the central claim that the Montelongo "system works in any financial market, at any given time," and are instead the heart of a fraudulent scheme to sell students worthless "education." In what appears to be the first major lawsuit brought against the defendants over their seminars, the students seek over $12 million in trebled RICO damages.
A copy of the complaint is here. If you'd like to know more about this lawsuit or our other group action work, contact us.
You can read more about Emergent Law on their web-site.
What is RICO?
RICO stands for Racketeer Influenced and Corrupt Organizations. This is not the same claim that Presidential candidate, Donald Trump is accused of with his "Trump University" Real Estate education program. That is merely a class action suit that he's been fighting for almost 6 years now. (See http://www.courthousenews.com/2010/05/04/TrumpU.pdf.)
Where I've seen similarities in the seminar business (see The Seminar Business and the Hard-Sell Up-Sell) from many educators, I've never known any to receive such a strong law suit filed against them.
You can read the claim here.
Comments (2)
DEADLINE APPROACHING: For those of you who have been financially harmed by purchasing the Armando Montelongo Seminars, you have a limited time opening to join the RICO Act Lawsuit. It doesn't cost a penny to join. The Lawyers are taking the case on a Contingency to help you the victim of Armando's sales tactics and lack of services. Please visit this website www.flippinrefund.weebly.com - private - private and join the forces today to help yourself get your life back. Come join the forces that are in this case already. You have everything to gain and the legal support to get you through. The deadline to get into this case is August 31, 2017. Please share this post with anyone that you know that needs help. #emergentlaw #chriswimmer #sernaandassociates
Jean Norton, over 6 years ago
I hope they nail him. He abused and mistreated the people that worked for him continually on his show, made seriously unethical decisions like deciding he had less than 25 linear feet of mold that he could supposedly remediate himself, even though he failed to open the walls completely to see how much mold might be on the INSIDE where it ORIGINATED (and then closed up the small repairs and SOLD that to someone unsuspecting). In my opinion he exhibits traits of antisocial and/or narcissist personality disorder and that is why he has a revolving door of work relationships. Ethics and empathy for others is seriously lacking.
Account Closed, over 7 years ago