'Every single dime that went into the property came from investors who were told they were investing in mobile-home flipping,' a lawyer told a judge.
NEW BRAUNFELS — Chimene Van Gundy claimed she was able to pay cash for her “dream home” in New Braunfels within 2½ years of starting her business buying and selling mobile homes with no money and no credit. She branded herself the “Queen of Mobile Homes” to trumpet her claims she had become a self-made millionaire running her business. It appears her prowess was an illusion.
Investors allege San Antonio-area woman — the 'Queen of Mobile Homes — is running a Ponzi scheme During a Monday court hearing in Comal County, state District Court Judge Dib Waldrip gave the court-appointed receiver for Van Gundy and her company approval to sell her residence at 614 Battistrada. Receiver Charlie Adams estimated Van Gundy’s five-bedroom, 5½-bathroom, 5,000-square-foot residence is worth from $1.4 million to $1.6 million.
New Braunfels-based 'Queen of Mobile Homes' sued for fraud over her Ponzi-like scheme She paid herself a $7,000 weekly salary and misappropriated more than $5.7 million in investor funds to pay for her nanny, private school tuition for her children, veterinarian bills and boarding costs for her horses, car payments, and other expenses, the SEC has alleged.
Outstanding Real Estate Solutions Inc. Vintage Estate Homes District Court Whataburger Chapter 7 Comal Appraisal District Chimene Van Gundy Van Gundy Charlie Adams Marilee Hazel Christopher Hughes Dib Waldrip Fred Biery Chad Hess Ponzi New Braunfels Comal County San Antonio 614 Battistrada Dubai U.S. RELATED Texas Property Code Queen Of Mobile Homes
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