Chimene Van Gundy paid herself a $7,000 weekly salary and misappropriated more than $5.7 million from investors, the Securities and Exchange Commission alleges.
has been sued by federal securities regulators for masterminding a fraudulent investment scheme that raised about $18.5 million from at least 600 investors.
The ORES securities were not registered with the SEC and Van Gundy and the others acted as unregistered brokers, the agency says.Chimene Van Gundy, 46, of New Braunfels, is facing a civil lawsuit filed by the Securities and Exchange Commission.Investors allege San Antonio woman — the 'Queen of Mobile Homes' — is running a Ponzi scheme
She pitched herself as a “real estate mogul,” “business coach,” “professional speaker” and “philanthropist.” “To give the appearance of legitimacy to ORES transactions, Van Gundy used identification numbers of mobile homes owned by other mobile home retailers, presenting them to investors as mobile homes that ORES purportedly bought through investor funding,” the SEC’s lawsuit says.
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