Armando Montelongo Faces Civil RICO Law Suit

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Armando Montelongo Faces Civil RICO Law Suit

Jean Norton
Flipper/Rehabber · Austin, TX · Member since 2009 · 405 posts · 168 votes

Armando Montelongo Faces Civil RICO Law 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. 

https://www.biggerpockets.com/blogs/1389/48691-arm...

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Bill Gulley
Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
10y

Great news as far as I'm concerned, now, when are they going to round up the rest of the low life, scum of the earth, lying dirt bag, crooked myth brokering con-artists? 

BTW, I thought that the Trump School bunch were already convicted of fraud last year, now i'm hearing he's going to court soon, might get serious, I don't think a felon can hold office. LOL

The real reason I do what I do is due to the fraudsters out there! :)  

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  • Gregg Contreras
    Electronic Security & REI · SoCal, CA · Member since 2013 · 17 posts · 13 votes
    10y

    Hey Jean, I beat you to the post! :-)

    1Reply
  • Bill Gulley
    Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
    10y

    Great news as far as I'm concerned, now, when are they going to round up the rest of the low life, scum of the earth, lying dirt bag, crooked myth brokering con-artists? 

    BTW, I thought that the Trump School bunch were already convicted of fraud last year, now i'm hearing he's going to court soon, might get serious, I don't think a felon can hold office. LOL

    The real reason I do what I do is due to the fraudsters out there! :)  

    3Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    10y

    @Bill Gulley  and yet another attorney firm gets rich and the investor just sink more money into a dark hole..  I can just see the attorneys firing up these investors, students smucks whatever you want to call this gang of 164 folks... 

    its one thing for the fed or state AG to take on a case, then I would think there is at least something to it.. a bunch of disgruntled investors.. just another way for attorneys to milk the poor people who think they can win in court.. LOL

    Biggests thing to come out of this though will be the negative publicity and internet stuff this is sure to harm future attendance at events. thats where you really hurt the promotor..  

    the humerous thing is there are others in the eduction seminar business that actually file complaints against others in the industry for making these claims

    but then again BP is full of dreamers as well.. at least they don't pay to dream right. they just tag along on the internet and hide behind their computer.. you know the I aint got no money or credit but hey BP teach me how to get rich over night  ... just cracks me up really

    Ok Bill I am in Charleston looking at our new builds.. its an exciting city and one heck of a place to do business.. 

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  • Gregg Contreras
    Electronic Security & REI · SoCal, CA · Member since 2013 · 17 posts · 13 votes
    10y

    Jay, what makes you think the TX AG isn't looking, or the Feds?
    As I read it, it is not just a "frivolous" fraud case! It is a racketeering & corruption (RICO) complaint! Maybe read the file as it is easy enough to read, even for a Real Estate investor..
    Neither Trump U nor Fortune Builders faced that!

    1Reply
  • Charissa Mood
    Wholesaler · Oak View, CA · Member since 2016 · 19 posts · 5 votes
    10y
    Too late...they already got me for $25,000 to go on a bus tour at the end of July. :(
    0Reply
  • Claude Diamond
    Professional · Rancho Santa Fe, CA · Member since 2015 · 44 posts · 39 votes
    10y

    Hi Jean and Bill, appreciate the updates.

    I believe that many of these cases are Civil NOT Criminal under RICO (both can apply) therefore there is no felony or criminal record. There could be however financial consequences but alas Its easy to get a judgement and hard to collect usually. 

    In many cases the defendants are in a protected legal entity (Trusts, Corps or Spouse) or they just declare bankruptcy and start all over again.

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  • Thomas S.
    Member since 2016 · 13k+ posts · 12k+ votes
    10y

    The US is far to litigious in my opinion and the root cause of far too much fear associated with operating a business (or anything else for that matter).

    0Reply
  • Jean Norton
    OP
    Flipper/Rehabber · Austin, TX · Member since 2009 · 405 posts · 168 votes
    9y

    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 - 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

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