Armando Montelongo - Armando Facing Civil RICO Lawsuit from Former Students
Original complaint can be found at http://document.li/o9eQ/
Excerpt from suit:
INTRODUCTION
1. Armando Montelongo (“Montelongo”) and his companies and allies have made hundreds of millions of dollars selling real estate education programs to Americans who long for financial independence. Yet their central claim—that Montelongo’s “system” for flipping homes yields profits anywhere in the nation, no matter what the state of the real estate market—is a lie, and their widespread promotion of that lie over a course of years violates the federal Racketeering Influenced and Corrupt Organizations Act (“RICO”). By this action, 164 former students now seek to remedy the financial devastation wreaked by that falsehood.
Location: Austin, Texas
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