Outstanding Real Estate Solutions Scam (ORES)

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Outstanding Real Estate Solutions Scam (ORES)

Dongzi Wu
Member since 2021 · 36 posts · 26 votes

The original one was deleted, creating this new one. 

Please don't post content from paid website, otherwise will be deleted again.

Thx

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Account Closed
Member since 2022 · 31 posts · 10 votes
4y
Quote from @Dongzi Wu:

The original one was deleted, creating this new one. 

Please don't post content from paid website, otherwise will be deleted again.

Thx

If this company has taken your money and not given it back, please email your promissory note to this email 

charlie@tracreportingllc(dot)com

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  • Chasity Brown
    Member since 2023 · 49 posts · 10 votes
    3y

    Has not paid investors in over a year. Makes false claims. Outstanding

    Real Estate Solutions and Chimene Van Gundy need to be stopped before

    they take more money from innocent people. It is not right to target

    trusting people and take their hard earned savings. Even if Chimene Van

    Gundy is going through a difficult patch within business her manner in

    dealing with the situation highlights the potential that she was a scam

    artist from the start. Perhaps she knows something about mobile homes,

    but when it comes to managing investors funds, signs point to the

    potential that she is a scam artist and fraud. Potentially even a darker

    meaning as she seems un phased by her current actions and is ready to

    take more money from retirees, mothers, and other vulnerable people. How

    she can do this without having her conscious kick in is alarming. I

    pray the right thing is done and the many investors are able to get

    their funds back. She has negatively impacted many people's lives and it

    is not right.

    0Reply
  • Dongzi Wu
    OP
    Member since 2021 · 36 posts · 26 votes
    3y

    SEC Charges Self-Proclaimed 'Queen of Mobile Homes' and Three Salespeople with Fraud in Mobile Home Investment Scheme


    1Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    3y
    Quote from @Dongzi Wu:

    SEC Charges Self-Proclaimed 'Queen of Mobile Homes' and Three Salespeople with Fraud in Mobile Home Investment Scheme



    This is code for investors money is gone unless there is some bank account somewhere or there are assets.. these deals never end good.
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    0Reply
  • Vickie C Estep
    Member since 2022 · 7 posts · 2 votes
    3y
    Quote from @Dongzi Wu:

    SEC Charges Self-Proclaimed 'Queen of Mobile Homes' and Three Salespeople with Fraud in Mobile Home Investment Scheme



    0Reply
  • Vickie C Estep
    Member since 2022 · 7 posts · 2 votes
    3y

    Can you post a link with more detail?

    1Reply
  • Dongzi Wu
    OP
    Member since 2021 · 36 posts · 26 votes
    3y

    The forum does not allow post link.  You can google and find it or reformat following

    wwwDotsecDotgov
    /litigation
    /litreleases
    /2023
    /lr25739.htm

    0Reply
  • Dongzi Wu
    OP
    Member since 2021 · 36 posts · 26 votes
    3y

    Litigation Release No. 25739 / May 31, 2023

    SEC Charges Self-Proclaimed 'Queen of Mobile Homes' and Three Salespeople with Fraud in Mobile Home Investment Scheme

    The Securities and Exchange Commission filed today a complaint in the U.S. District Court for the Western District of Texas charging Outstanding Real Estate Solutions, Inc. (ORES), its Chief Executive Officer and founder Chimene Van Gundy, and salespeople Michael Trofimoff, Santos Kidd, and Maria Tosta for their roles in raising approximately $18.5 million from at least 600 investors through a fraudulent mobile home investment scheme.

    According to the SEC's complaint, between at least June 2018 and November 2021, Van Gundy, the self-proclaimed "Queen of Mobile Homes," and her company, ORES, raised millions from investors while promising to use the funds to purchase, refurbish, and resell mobile homes. The complaint alleges that Van Gundy and ORES did not actually own hundreds of mobile homes that they claimed ORES purchased with investor funds. Rather than using investor funds as promised, the complaint alleges that Van Gundy and ORES made Ponzi-like payments to existing investors, paid undisclosed sales commissions, and funded Van Gundy's personal expenses. The complaint also alleges that Van Gundy, Trofimoff, Kidd, and Tosta acted as unregistered brokers, and made false and misleading statements or omissions to investors while offering and selling ORES mobile home investments.

    The SEC’s complaint charges ORES and Van Gundy with violating the securities-registration provisions of Sections 5(a) and 5(c) of the Securities Act of 1933 (Securities Act). The complaint further charges ORES, Van Gundy, Trofimoff, and Kidd with violating the antifraud provisions of Section 17(a) of the Securities Act and Section 10(b) of the Securities Exchange Act of 1934 (Exchange Act) and Rule 10b-5 thereunder. The complaint also charges Tosta with violating Section 17(a)(3) of the Securities Act, and Van Gundy, Trofimoff, Kidd, and Tosta with violating the broker-registration provisions of Section 15(a) of the Exchange Act. The SEC seeks permanent injunctions, disgorgement with prejudgment interest, and civil penalties against all defendants, and an officer-and-director bar against Van Gundy. Without admitting or denying the SEC’s allegations, Tosta has agreed to settle the charges against her, consenting to the entry of a final judgment that orders permanent injunctions, disgorgement and pre-judgement interest totaling $117,917.57, and a civil penalty of $60,000. Tosta’s settlement is subject to court approval.

    The SEC's investigation, which is ongoing, was conducted by Kendrack Lewis and Melvin Warren of the SEC's Fort Worth Regional Office, under the supervision of Sarah S. Mallett and Eric R. Werner. The SEC's litigation will be led by Matthew Gulde and supervised by B. David Fraser. The SEC acknowledges the assistance and cooperation of the State of Hawaii Department of Commerce and Consumer Affairs, Securities Enforcement Branch.

    2Reply
  • Chasity Brown
    Member since 2023 · 49 posts · 10 votes
    3y
    'Queen of Mobile Homes' receiving death threats, her lawyer tells judge during court hearing


    Chimene Van Gundy’s lawyer mentioned the menacing messages in a bid to
    close a court... Van Gundy touted in various venues that she had bought,
    fixed and flipped more than 500 mobile home units. The SEC says she and
    the company only owned 6 mobile homes.

    Some investors sued Van Gundy in late 2021 and early 2022 and she later filed for

    More authority as receiver for Van Gundy and her company. Adams is responsible for locating and taking charge of their assets. The judge approved an order granting Adams more power, including the ability to subpoena and sue parties in an effort to recover assets for creditors. That came after Adams, his lawyer, Hazel and an attorney for the plaintiff investors met with the judge outside the courtroom for more than 90 mins to hammer out the order.

    Adams recently provided the court with an 88-page declaration outlining his efforts thus far. The declaration was submitted under seal, though a redacted version is publicly available. That was done so as not to tip off potential targets of subpoenas and lawsuits.

    1Reply
  • Chasity Brown
    Member since 2023 · 49 posts · 10 votes
    3y

    https://www.sec.gov/litigation...

    READ

    1Reply
  • Chasity Brown
    Member since 2023 · 49 posts · 10 votes
    3y

    *In addition to the $7,000 weekly salary that she drew from ORES, Van Gundy

    misappropriated more than $5.7 million in investor funds for her own personal use, spending those

    funds on a variety of purposes, including payments for her nanny, private school tuition for her

    children, veterinarian bills and boarding costs for horses, cash withdrawals, auto payments, retail

    stores, and debt extinguishment, among other personal expenses*

    0Reply
  • Chris SeveneyBusiness Member
    Moderator
    Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
    3y

    @Chasity Brown

    Wow. Whoever gave this person “women of the year award” should be sued for doing zero due diligence on this person

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    1Reply
  • Dongzi Wu
    OP
    Member since 2021 · 36 posts · 26 votes
    3y

    Thanks for Sharing the information!

    1Reply
  • Chasity Brown
    Member since 2023 · 49 posts · 10 votes
    3y

    There we go guys, now you know where all your money went...^^^

    0Reply
  • Chasity Brown
    Member since 2023 · 49 posts · 10 votes
    3y

    **a. ORES and Van Gundy lied about mobile home ownership.

    30. Van Gundy and ORES represented to investors, both orally and through ORES

    communications, investor presentations, MHLPAs, Promissory Notes, and Service Agreements,

    that Van Gundy and ORES would use investor funds to purchase, refurbish, and resell mobile

    homes. Of the 248 mobile homes connected to ORES and Van Gundy between June 2018 and

    November 2021, Van Gundy and ORES actually owned only six. To give the appearance of

    legitimacy to ORES transactions, Van Gundy used identification numbers of mobile homes owned

    2 Some of the notes contained only the GMHI logo but made multiple references to ORES and Van Gundy.

    Case 5:23-cv-00700 Document 1 Filed 05/31/23 Page 8 of 21

    9

    by other mobile home retailers, presenting them to investors as mobile homes that ORES

    purportedly bought through investor funding.**

    0Reply
  • Chasity Brown
    Member since 2023 · 49 posts · 10 votes
    3y

    **d. Van Gundy and ORES sold the same mobile home(s) to multiple investors.

    36. Van Gundy and ORES executed MHLPAs and Promissory Notes with multiple

    investors tied to the same mobile home without disclosing that a prior investor had given ORES

    funds to purportedly fix and flip that specific mobile home.

    37. The ORES investment was not a pooled investment. Van Gundy and ORES

    promised each investor that ORES would use their funds to buy and refurbish a specifically

    identified mobile home, for which the investor would be the record lienholder. At least 23 times,

    Van Gundy and ORES solicited funds to buy, fix, and flip a mobile home that was already

    connected to an earlier investor. In some cases, Van Gundy sold the same mobile-home investment

    to as many as five separate investors. Even worse, Van Gundy and ORES were not even the record

    owner of—and had no affiliation with—at least 19 of the mobile homes they claimed to sell.**

    0Reply
  • Chasity Brown
    Member since 2023 · 49 posts · 10 votes
    3y

    ***III. Additional Fraudulent Conduct as the ORES Scheme Collapsed

    46. Beginning in approximately January 2020, as ORES struggled to pay investors their

    guaranteed quarterly returns, Van Gundy, Trofimoff, and ORES told existing investors more lies

    about the status of their payments—while simultaneously soliciting new investors with falsehoods

    to keep the scheme from collapsing.

    a. Van Gundy, Trofimoff, and ORES lied about a merchant payment processor.

    47. Between approximately January 2020 and January 2021, Van Gundy and Trofimoff

    repeatedly blamed ORES’s late payments to investors on its purported external merchant

    processor, who Van Gundy claimed was responsible for collecting the monthly mobile home

    payments from the owner-financed buyers.

    48. Van Gundy also provided investors with a letter that she claimed that the merchant

    processor had sent to ORES asserting that a “computer malware attack” delayed investor

    Case 5:23-cv-00700 Document 1 Filed 05/31/23 Page 12 of 21

    13

    payments. Additionally, Trofimoff told investors that he and Van Gundy were “filing a formal

    complaint” against the merchant processor.

    49. In reality, the company that Van Gundy and Trofimoff identified as the merchant

    processor did not provide any payment processing services for ORES or its purported mobile home

    investments. Additionally, the company neither authored nor provided the purported “malware

    attack” letter to ORES, and Trofimoff’s claims about filing a formal complaint were fiction.

    0Reply
  • Kim Mulligan
    Investor · Seattle, WA · Member since 2015 · 3 posts · 0 votes
    3y

    I attended her event in San Antonio. I wanted to learn about mobile homes and parks, but it came off as a big hype session with lots of people from the same funnel marketing company. She played the Jesus card up big time. So did Trofimoff. I never trust people that lead with any type of religion.

    0Reply
  • Chasity Brown
    Member since 2023 · 49 posts · 10 votes
    3y
    Quote from @Kim Mulligan:

    I attended her event in San Antonio. I wanted to learn about mobile homes and parks, but it came off as a big hype session with lots of people from the same funnel marketing company. She played the Jesus card up big time. So did Trofimoff. I never trust people that lead with any type of religion.


    Unfortunately from the readings, she coerced many into this using lots of different ways. Thats one I never heard yet, so it seems she played those cards when she knew it would work. Glad you did not get involved however, there are thousands that got screwed by Vangundy.

    Any updates anyone?
    0Reply
  • Chasity Brown
    Member since 2023 · 49 posts · 10 votes
    3y

    Is anyone up to date on what is going on? 

    0Reply
  • Roberto Benoza
    Member since 2021 · 18 posts · 3 votes
    3y
    Quote from @Dongzi Wu:

    The original one was deleted, creating this new one. 

    Please don't post content from paid website, otherwise will be deleted again.

    Thx

     I have not heard of anything. It seems so quiet. No word from the Charlie Adams either.

    0Reply
  • Chasity Brown
    Member since 2023 · 49 posts · 10 votes
    3y
    Quote from @Roberto Benoza:
    Quote from @Dongzi Wu:

    The original one was deleted, creating this new one. 

    Please don't post content from paid website, otherwise will be deleted again.

    Thx

     I have not heard of anything. It seems so quiet. No word from the Charlie Adams either.


    Did you try to contact anyone? 
    0Reply
  • Chasity Brown
    Member since 2023 · 49 posts · 10 votes
    3y

    Does anyone have an info on how this is going? 

    0Reply
  • Sonya Brown
    Investor · Stahlstown, PA · Member since 2016 · 71 posts · 20 votes
    3y
    Quote from @Vickie C Estep:
    Quote from @Dongzi Wu:

    SEC Charges Self-Proclaimed 'Queen of Mobile Homes' and Three Salespeople with Fraud in Mobile Home Investment Scheme



    0Reply
  • Sonya Brown
    Investor · Stahlstown, PA · Member since 2016 · 71 posts · 20 votes
    3y

    Have no idea, I have left emails and VM to Charlie with no response 

    0Reply
  • Roberto Benoza
    Member since 2021 · 18 posts · 3 votes
    2y

    Hello everyone,

    I am just wondering if anyone here have received an email that is containing a creditor survey sent by Frederic Robinson on14OCT?  I am not 100% certain on how to answer a few of the survey questions and would like to ask for your assistance if you have already completed the survey to hopefully receive some funds back?  Please and thank you.

    0Reply
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