Litigation Releases (Santos Kiidd)

U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 26565 / June 12, 2026

Securities and Exchange Commission v. Chimene Van Gundy et al., No. SA 23 CV 700 FB (W.D. Tex. filed June 6, 2023)

SEC Obtains Default Judgment Against Santos Kidd for Role in Alleged Fraudulent Real Estate Investment Scheme

On June 1, 2026, the U.S. District Court for the Western District of Texas entered a final judgment by default against Santos Kidd, whom the Securities and Exchange Commission previously charged for participating in an alleged fraudulent mobile-home investment scheme.

According to the SEC's complaint, between at least June 2018 and November 2021, Chimene Van Gundy - the self-proclaimed "Queen of Mobile Homes" - and her company, Outstanding Real Estate Solutions, Inc. ("ORES"), raised approximately $18.5 million from at least 600 investors for investments in mobile homes promising guaranteed annual returns of 15% to 20%. The complaint alleged that although Van Gundy and ORES told investors that she would use their funds to purchase, refurbish, and sell mobile homes, they instead misappropriated investor funds by making Ponzi-like payments, paying millions of dollars in undisclosed sales commissions, and funding Van Gundy's personal expenses and lifestyle. As alleged, Kidd, a third-party salesperson formerly based in Honolulu, Hawaii, distributed the ORES offering materials and investor presentation to investors, specifically encouraged some investors to apply for home equity lines of credit to fund their investments in ORES, and affirmatively misrepresented to some investors that he did not receive commissions for his sales of the ORES investments, even though he received commission payments totaling $285,155.97 between April 2019 and May 2021.

The judgment, entered on the basis of default, permanently enjoins Kidd, who has now relocated to the Philippines, from violating the antifraud provisions of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b 5 thereunder, as well as the broker registration provisions of Section 15(a) of the Exchange Act. The judgment also permanently prohibits Kidd from participating in the issuance, purchase, offer, or sale of any security, except for transactions in Kidd's personal account. In addition, Kidd is ordered to pay $285,155.97 in disgorgement, $37,467.18 in prejudgment interest, and a civil penalty of $285,155.97, for a total monetary judgment of $607,779.12.

The SEC's litigation is being handled by the staff of the SEC's Fort Worth Regional Office.