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.
‘Enforcement 40’ for 2020
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