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Chimene Van Gundy carefully crafted a public persona as a successful buyer and seller of mobile homes before a judge appointed a receiver to take control of her New Braunfels company and she filed for personal bankruptcy last month.

But during a bankruptcy proceeding Thursday, she couldn’t recall any particular deal she did to get people to invest with her or that led to her becoming known as “the Mobile Home Millionaire.” She’s also called herself the “Queen of Mobile Homes.”

“I don’t remember any specifics right now,” she told San Antonio attorney Leslie Luttrell, who represents multiple creditors in the bankruptcy. “I just know that I would find mobile homes and fix and flip them.”

On ExpressNews.com: Investors allege San Antonio woman — the ‘Queen of Mobile Homes’ — is running a Ponzi scheme

That was one of about 100 times Van Gundy, 45, told the attorney and others she didn’t remember, recall or know the answer to a question during her first meeting with creditors.

During the hour-and-45-minute proceeding in her Chapter 7 case, Van Gundy said she sustained a brain injury late last year after falling and hitting her head on a concrete table at her home. She didn’t know what caused the fall, but said it’s the reason for her memory problems.

The meeting, which was conducted by telephone, was cut short after Van Gundy’s lawyer said she suffered two seizures.

Multiple investors have said they loaned hundreds of thousands of dollars to buy and sell mobile homes only to have Van Gundy and her company — Outstanding Real Estate Solutions Inc. — renege on principal and interest payments. They allege she ran a Ponzi scheme. The Securities and Exchange Commission is investigating.

On April 19, Comal County District Court Judge Dib Waldrip appointed a receiver for the company. Part of the receiver’s job is to locate any assets and preserve what’s left for creditors.

Van Gundy sought bankruptcy liquidation April 27, listing about $1.6 million in assets and almost $353,000 in liabilities. Her home, valued at $1.5 million, and two vehicles account for most of her assets. She reported no financial assets.

Her company has not filed for bankruptcy.

Van Gundy has boasted she was part of one marketing group’s exclusive “two comma club” for earning more than $10 million.

She’s currently out of work and collecting $600 a month in unemployment compensation, the court document shows.

Luttrell, the attorney for creditors, asked Van Gundy during the meeting what happened to an offshore account that held $20 million worth of gold bullion as of Sept. 3.

“I don’t know what you’re talking about,” Van Gundy said. She denied ever having such an account.

After Van Gundy said she couldn’t remember when she bought her first mobile home, Luttrell replied, “You seem to have a great recollection on some things and not on other things, so I’m just trying to figure out what it is you remember and what you don’t remember.”

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Van Gundy appeared on the television program “God-Made Millionaire TV” in March 2021, telling the host she had a negative net worth of $50,000 when she started investing in mobile homes in 2015. She went on to make $1.2 million in about 16 months, she said.

But asked Thursday about her appearance on the show, Van Gundy said she had no recollection of it or of recounting how she made so much money so quickly.

“If I don’t remember appearing on the TV show, then I don’t recall anything that was said, sir,” she replied to a question from attorney Clayton Matheson, who represents some investors.

He later wanted to know where more than $2.3 million that Van Gundy borrowed on various real estate holdings — including her home — had gone.

“Again, the money was for ORES,” she answered, referring to her company. “I cannot speak for ORES. I do not have the documents in my possession to know where that went or what happened to it.” She directed Matheson to speak with the company’s receiver.

The creditors meeting will resume June 23.

BUSINESS//LOCAL BUSINESS
San Antonio trustee wants ‘Queen of Mobile Homes’ bankruptcy case tossed

Patrick Danner, Staff writer
Aug. 16, 2022Updated: Aug. 16, 2022 4:26 p.m.
2
The trustee administering the bankruptcy estate of Chimene Van Gundy, the self-described “Queen of Mobile Homes” and “the Mobile Home Millionaire” accused of running a Ponzi scheme, has asked a judge to toss her case.

Chapter 7 trustee Randy Osherow filed the motion to dismiss the liquidation case on grounds that Van Gundy has failed to comply with her obligations under the bankruptcy code.

If dismissed, litigation against Van Gundy that had been paused since her April 27 bankruptcy filing would be allowed to proceed.

Van Gundy, 46, did not appear at a creditors meeting conducted by telephone Thursday. Such meetings allow the trustee and creditors to question a debtor.

James Wilkins, Van Gundy’s bankruptcy lawyer, told Osherow as the meeting began that she had been advised by her physician not to attend.

“The doctor says she can’t testify right now,” Wilkins said.

It was the second consecutive meeting she has missed, the trustee said.

Van Gundy has said she sustained a brain injury late last year after falling and hitting her head on a concrete table at her home. She didn’t know what caused the fall, but said it has caused memory problems.

Lawsuits

The New Braunfels businesswoman has boasted that she earned more than $10 million buying manufactured homes on the cheap, fixing them up and flipping them. She’s been a guest on numerous podcasts and other programs to tout her investing prowess.

But some who invested with her expecting big returns allege she reneged on principal and interest payments on the loans they made. They say she orchestrated a Ponzi scheme that collectively cost them and others at least a few million dollars.

The Securities and Exchange Commission has been investigating.

Various investors sued Van Gundy and her company, Outstanding Real Estate Solutions Inc., or ORES, including for fraud, civil conspiracy to defraud and breach of loan agreements.

Van Gundy responded by filing for personal bankruptcy, putting the litigation on hold.
“If Ms. Van Gundy’s bankruptcy is dismissed, then the multiple lawsuits pending against her can proceed in the various courts and she will not receive a discharge on her debts,” said San Antonio lawyer David Jed Williams, who represents a group that sued her and her company.

The trustee wants the bankruptcy dismissed “without prejudice,” meaning Van Gundy could refile the case. Wilkins did not immediately respond to a request for comment Tuesday, so it couldn’t be determined if he would oppose the motion to dismiss.

Williams said even if the bankruptcy isn’t dismissed, he expects many creditors will object to Van Gundy receiving a discharge of the debts she owes them because of the allegations of her fraudulent conduct.

No shows

In her bankruptcy papers, Van Gundy reported about $1.6 million in assets and almost $353,000 in liabilities. Her home, valued at $1.5 million, and two vehicles account for most of her assets. She didn’t list any financial assets. She described as “unknown” the amounts owed to more than a dozen creditors.

Some of the lawsuits against Van Gundy and ORES were filed in Comal County, where she resides.

Prior to the bankruptcy, Judge Dib Waldrip in Comal County appointed a receiver to take over ORES. It has not filed for bankruptcy.

The creditors meetings haven’t been particularly enlightening for creditors wanting to know where their money went.

At the first meeting May 26, Van Gundy told those listening roughly a hundred times that she didn’t remember, recall or know the answer when questioned.

That meeting, also conducted by telephone, was cut short after Wilkins said Van Gundy had suffered two seizures during the proceeding.

The meeting was reset to June 23 but it also ended early because she had a seizure, her lawyer said. The meeting was continued to July 14, but Van Gundy didn’t appear. Thursday marked the latest reset.

“It’s really up to the (bankruptcy) judge on how he wants to proceed on it,” Osherow said.

“Obviously, I can’t do my job if Ms. Van Gundy fails to appear.”

Written By
Patrick Danner
Patrick Danner is a business reporter for the San Antonio Express-News.