Public Mediation

NNT Financial, LLC vs. Imc Money, A Chad Chiniquy Company, Eric Blackwell, Ali Jorgensen

IMC Money, a Chad Chiniquy company, Eric Blackwell, Ali Jorgensen Misleading Gap Lenders

NNT Financial, LLC vs. Imc Money, A Chad Chiniquy Company, Eric Blackwell, Ali Jorgensen
701 Palomar Airport Rd Ste 300, Carlsbad, California, 92011-1028, United States
Amount Involved: $47,060.00
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Statement of Claim
Complaints Involved (2) - View
"We were introduced to IMC Money through a real estate training company. One of the “trainers”, Eric Blackwell is also the person arranging the loans to the investors as the right hand for Chad Chiniquy, IMC Money. We had agreed to Eric’s suggestion to be a gap lender to an investor Albert Canales, who had a “deal” in Corpus Christi, Texas. At first the amount he needed was $25,000, but quickly rose to $33,500 and then increased to $39,000 as the Hard Money lender was lowering his amount he was willing to lend and now the investor needed more to cover the gap. We finally agreed to lend him $39,000.
Based on the suggestion on the emails from the Hard Money Lender Chad Chiniquy, Ali Jorgensen and apparently statements made by Eric Blackwell, we wired the money directly to the investor’s account, so he can receive his hard money loan for the deal. Eric was too busy to help us put together the paperwork agreement between us and the investor, like it was originally agreed, so we were left to draft the paperwork ourselves based on a copy of a similar agreement with someone else’s information written on it. The investor Albert Canales from A&L Property Investments, LLC and the hard money lender Chad pressured us to get the money to the investor quickly due to the seller wanting to close ASAP “or the deal would go to someone else”.
When the time approached for the investor to pay us back our money as agreed, we sent the investor a reminder notice of the balance due, but that letter returned undeliverable. After another month went by without any response from the investor, we contacted Eric Blackwell and Ty Corbridge, whom Eric and Chad had arranged to be the first lien holder and lend the “hard money”. At that time we were informed by Ty that he had received a notice from the insurance company that the investor had cancelled his loan insurance. We, however, were never notified of it, although we supposedly were the second lien holder. He also informed us that he never received one payment from the investor according to the agreement he had with him. We were surprised he would not do anything about it for 6 months as a lender.
It was at that time we also noticed we were missing all the notarized pages from our copies of the loan agreement and the lien documents sent to us from the closing company. So, we contacted Michelle Hinojosa, the Escrow officer from Stewart Title Company and she noticed our lien was not recorded properly as it was missing those pages. She mentioned that, at the time of the closing, she had an assistant who “did not work out and was no-longer working for her”. In addition to that, she said the entire file for the month of that closing was missing from her scanned files she normally keeps on her desktop. Interestingly, only the month for our closing was missing as it seems to have been deleted from her computer.
Finally we heard from Ty in response to our email that he did file for foreclosure, but “would take a payment from us if we wanted to protect our investment and buy it from him”. Otherwise we would be wiped out if it sold at auction. However, we could not spend more on the “deal”. Not only would we have overpaid for the property if we paid him what he wanted in addition to what we had already lost, but we would also incur additional holding costs for something that no-longer was profitable. Additionally, when we never received the legal notification as the second lien holder for the auction, we became further suspicious. When we checked the tracking provided to us by Ty for the supposed notice for auction sent to the investor Albert Canales, we found that notice was also returned to the sender after 3 weeks as “undeliverable”. However, Eric Blackwell claimed that Ty, the hard money lender on this deal had told him the investor had signed for the foreclosure notice and received it. As we were questioning why the attorney, Thomas John Fisher, who supposedly did the foreclosure filing for Ty (the first lien holder), did not send us the legally required notification as the second lien holder, we found that he does not seem to practice in Texas where all these transactions took place. According to the link provided from TX Attorney General’s page, when doing a search for him, his jurisdiction where he is admitted to practice is in California.
Putting this all together, it seems that there is a large network of people orchestrating a scam. It does sound like an organized crime, involving racketeering. These companies seem to be targeting elderly and retirees who are looking to supplement their retirement income. We understand that RICO Act is a set of laws (18 U.S.C.A. § 1961 et seq. [1970]) specifically designed to punish racketeering by business enterprises. We have therefore contacted our State Attorney General and will continue to publicize by every means how this criminal act has taken place, until we recover all we have lost during this nightmare.
We found several DBAs with the same network of people behind the scenes “running the program”. To mention a few, there are:
FIND, FUND & FLIP SYSTEM
PROSPERITY INTERNATIONAL LLC
GOVERNMENT TAX LIEN NETWORK (GTLN)
FLIP AND BUILD WEALTH REAL ESTATE WORKSHOP"
...
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Exhibits View
Additional Communication Between Claimant and Imc Money, A Chad Chiniquy Company, Eric Blackwell, Ali Jorgensen Hide
  • Nov 25, 2017, Claiming party added:

  • Communications leading to the fraudulent wire transfer as suggested by IMC Money.

    On Jul 25, 2016, at 1:23 PM, support submissions@imcmoney.com wrote:

    Hey Albert,
    We received your application and have a couple of questions before we can move forward. Do you already have Gap Funding? If so, how much are you planning on putting down? Will you be able to put the Gap money in your personal bank account so that we can verify it?

    Please let us know.
    Thank you,

    Support
    IMC Money
    2520 Gateway Road
    Carlsbad Ca. 92009
    (800) 399-2001 Office
    imcmoney.com


    On Tue, Jul 26, 2016 at 5:29 AM, Albert Canales albert_canales@yahoo.com wrote:

    Good morning after reading over your email again and get the impression that maybe you want me to put the gap funds into my company account ?

    Sent from my iPad

    On Jul 26, 2016, at 9:40 AM, support submissions@imcmoney.com wrote:

    It will be best if you can do that. If not, we do not have as many options.
    Is that possible? Once you and Eric find a Gap Lender, do you think you will be able to get the money into your company account?

    IMC Money
    2520 Gateway Road
    Carlsbad Ca. 92009
    (800) 399-2001 Office
    imcmoney.com


    On Tue, Jul 26, 2016 at 8:16 AM, Albert Canales albert_canales@yahoo.com wrote:

    Yes that would not be a problem.
    My option period ends tomorrow so I need to know if this is going to be funded please.

    Sent from my iPhone


    From: Ali Jorgensen alij@imcmoney.com
    Date: July 26, 2016 at 1:41:41 PM CDT
    To: Albert Canales albert_canales@yahoo.com
    Subject: Re: Albert Canales contract

    Albert,
    We are happy to offer preliminary approval for this flip with an interest rate of 12%.
    Here is a breakdown:

    ARV $ 175,000.00
    Purchase Price $ 116,000.00
    Escrow for Construction $ 17,000.00
    Effective Total Origination Fee $ 5,087.25

    Estimated Loan to After-repair-value 64.60%
    Total loan amount $ 113,050.00
    Down Payment $ 19,950.00
    Monthly Payment $ 1,130.50
    Total Assets Required $ 33,520.25


    Please review these terms and let us know if you wish to proceed.
    Thanks!

    Ali Jorgensen
    IMC Money
    2520 Gateway Road
    Carlsbad Ca. 92009
    imcmoney.com

    On Fri, Jul 29, 2016 at 11:35 AM, Albert Canales wrote:
    Will the rehab construction be covered on this loan ?

    Sent from my iPhone

    From: Ali Jorgensen
    Date: July 29, 2016 at 2:59:59 PM CDT
    To: Albert Canales
    Subject: Re: Albert Canales contract
    Albert,
    Most of the rehab will be covered. You will need to have a total of about $33,500 in your account and put down about $20,000 of that at closing.
    This is the loan breakdown:

    ARV $ 175,000.00
    Purchase Price $ 116,000.00
    Escrow for Construction $ 17,000.00
    Effective Total Origination Fee $ 5,087.25

    Estimated Loan to After-repair-value 64.60%
    Total loan amount $ 113,050.00
    Down Payment $ 19,950.00
    Monthly Payment $ 1,130.50
    Total Assets Required $ 33,520.25

    Please let me know if you have any other questions.
    Thanks!

    Ali Jorgensen
    IMC Money
    2520 Gateway Road
    Carlsbad Ca. 92009
    imcmoney.com


    On Aug 2, 2016, at 12:33 PM, Ali Jorgensen alij@imcmoney.com wrote:

    Hey Albert,
    What is the status of the Gap Funding? We really can not do anything until you have the money in your account. Once we have confirmation of your down payment, we will still need at least a week to get everything done. When is the closing date? Please let me know.
    Thanks!

    Ali Jorgensen
    IMC Money
    2520 Gateway Road
    Carlsbad Ca. 92009
    imcmoney.com


    From: ERIC Blackwell ERICBLACKWELL6258@msn.com
    Date: August 2, 2016 at 2:04:47 PM CDT
    To: Ali Jorgensen alij@imcmoney.com
    Cc: Albert Canales albert_canales@yahoo.com
    Subject: Re: Albert Canales contract

    We are doing the gap paperwork today and then they can put in his account

    Sent from my iPhone


    ERIC Blackwell ERICBLACKWELL6258@msn.com Tue, Aug 2, 2016 at 2:09 PM
    To: NNT Financial LLC @nntfinancial.com

    Yeah I'll get the paperwork you need today for the gap

    Sent from my iPhone


    On Aug 3, 2016, at 4:44 PM, Chad Chiniquy chad@imcmoney.com wrote:

    Albert,
    The maximum we can lend on this property is $93,000.
    Will that work?

    Chad Chiniquy
    IMC Money
    2520 Gateway Road
    Carlsbad Ca. 92009
    (800) 399-2001 Office
    imcmoney.com


    On Wed, Aug 3, 2016 at 3:09 PM, Albert Canales albert_canales@yahoo.com wrote:

    What changed ?

    Sent from my iPhone


    On Aug 3, 2016, at 5:25 PM, Chad Chiniquy chad@imcmoney.com wrote:

    Nothing really changed has changed. From the beginning we told you that you needed to have the down payment money in your OWN account. We were trying to get you approved for the higher amount, but the Fix and Flip loan option requires you to have a minimum of 10% of your OWN funds in the bank. Using Gap Funding changes the loan parameters. Since all of the down payment money is coming from a Gap Lender, we are limited to a loan amount of $93,000

    If you can get all of the down payment money in your personal account, then we can loan you the higher amount. The problem now is the closing deadline is coming up.

    I can call you to review if you would like.

    Chad Chiniquy
    IMC Money
    2520 Gateway Road
    Carlsbad Ca. 92009
    (800) 399-2001 Office
    imcmoney.com


    On Aug 3, 2016 3:32 PM, "Albert Canales" albert_canales@yahoo.com wrote:

    But I'm going to have the down payment in my business account !

    Sent from my iPhone

  • Nov 30, 2017, IMC Money, A Chad Chiniquy Company, Eric Blackwell, Ali Jorgensen (responding party) added:

  • My name is Chad Chiniquy and I am the President of IMC Money. We arrange financing for house flippers. We have never done any business with NNT Financial, LLC and have no idea why they have named us in this complaint. NNT Financial, LLC has never applied for a loan or done any type of business with our company. We do not have a personal or professional relationship with anyone at NNT Financial. We should immediately be removed from this claim.

    As I read the complaint, it seems as if there were many other people in this particular transaction that were possibly at fault. But IMC Money was not involved with NNT Financial, LLC.

    We refute this entire claim. IMC Money should not be named in this claim.

    There are many, many inaccuracies in the claim from NNT. First, Eric Blackwell, has NO affiliation with our company. He is not the "right hand" of anyone at our company.

    We NEVER told anyone at NNT Financial to wire money to anyone!

    We never even spoke to anyone at NNT Financial.

    In the NNT complaint, they write "the hard money lender Chad pressured us to get the money to the investor quickly due to the seller wanting to close ASAP". That is 100% false. There was NEVER any pressure from me or anyone in my office to send money to the investor. We NEVER even spoke with anyone from NNT Financial. This is the first time we have ever even heard of them.

    We demand that you take our name out of this claim. Please remove IMC Money, Chad Chiniquy, and Ali Jorgensen from this claim.

    We categorically deny all of the charges against us and ask that you immediately take remove us from this claim.

    We will be happy to discuss this further and provide additional information and documentation.

    We can be reached at (800) 399-2001 or chad@imcmoney.com

    Sincerely,
    Chad Chiniquy
    President
    IMC Money

  • Nov 30, 2017, Claiming party added:

  • We will be glad to discuss and re-open this claim as we have all the emails to prove the conversations that transpired. Please see attached.

    We (NNT Financial) were the second lien holder to the deal in Corpus Christi, TX. Eric Blackwell, who is also copied on the communications was the person who coordinated the financial arrangements. You (IMC Money) arranged the hard money loan as the first lien through Ty Corbridge. Ali Jorgensen is the person who initially communicated with the investor Albert Canales. On his email that came from submissions@imcmoney.com he recommends to have the GAP loan wired directly to the investor's account. Chad Chiniquy was also part of these communications.

    Please see attached emails.

  • Dec 01, 2017, IMC Money, A Chad Chiniquy Company, Eric Blackwell, Ali Jorgensen (responding party) added:

  • The ONLY reason we asked the borrower if he could get the funds into his business account is because we would have had more funding options for him. He never sent us proof that the money was transferred into his account.

    Because he did not have the money in his account, our funding options were very limited. We had no idea that he was getting a second mortgage from NNT Financial.

    By the way, why did NNT Financial send money directly to the borrower? If you were doing a second mortgage for him, why not send the money to escrow?

    Again, how is this the fault of IMC Money??

  • Dec 01, 2017, Claiming party added:

  • Unfortunately the suggestion to send the money directly to the investor's account came directly from IMC Money. Eric Blackwell, who coordinated the loans between the investor and the lenders agreed, and also communicated this in the emails. Again, I will quote (below):

    "Will you be able to put the Gap money in your personal bank account so that we can verify it?

    Please let us know.
    Thank you,

    Support
    IMC Money
    2520 Gateway Road
    Carlsbad Ca. 92009
    (800) 399-2001 Office
    imcmoney.com

    On Tue, Jul 26, 2016 at 5:29 AM, Albert Canales albert_canales@yahoo.com wrote:

    Good morning after reading over your email again and get the impression that maybe you want me to put the gap funds into my company account ?

    Sent from my iPad

    On Jul 26, 2016, at 9:40 AM, support submissions@imcmoney.com wrote:
    It will be best if you can do that. If not, we do not have as many options.
    Is that possible? Once you and Eric find a Gap Lender, do you think you will be able to get the money into your company account?

    IMC Money
    2520 Gateway Road
    Carlsbad Ca. 92009
    (800) 399-2001 Office
    imcmoney.com"

    "On Aug 2, 2016, at 12:33 PM, Ali Jorgensen alij@imcmoney.com wrote:
    Hey Albert,
    What is the status of the Gap Funding? We really can not do anything until you have the money in your account."

    "From: ERIC Blackwell ERICBLACKWELL6258@msn.com
    Date: August 2, 2016 at 2:04:47 PM CDT
    To: Ali Jorgensen alij@imcmoney.com
    Cc: Albert Canales albert_canales@yahoo.com
    Subject: Re: Albert Canales contract
    We are doing the gap paperwork today and then they can put in his account"

  • Dec 05, 2017, IMC Money, A Chad Chiniquy Company, Eric Blackwell, Ali Jorgensen (responding party) added:

  • I have no idea who you are or how you are involved with this loan. The emails you have supplied appear to have been edited by someone. The emails you have did NOT originate from our office - they have been altered. We are reporting this to the appropriate authorities.

    We notice that you did not produce any emails that we sent to you. That is because we have never emailed you. We have no idea who you are. We have never even spoken to you! Why add us to this claim? What is your basis for being upset with us? We don't know you and NEVER did business with you.

    We have no idea who you are or how you are involved in this transaction. We have no business dealings with you. Please remove our name from this complaint. We did not do anything to harm you or your business. You or your company has never done business with us.

  • Dec 06, 2017, Claiming party added:

  • Perhaps you did not recognize who we were because there were too many parties communicating in this transaction. We were part of most of the communications with you, your company and the investor Canales as we were the second lien holder in this transaction. Just because we personally never took a loan from you does not mean we were not directly associated with you in this transaction.

    We DO, however, have all the emails and our attorney has been reviewing the originals. There is no need to attach all of them here, but we will attach one copy for your review that came from you directly in this transaction.

    The reason we posted the main part of the conversation in the previous attachment in the format presented was to put the dates in proper order as there are several email strings and some parts of the emails are copied on those emails multiple times. That also made it harder to follow the conversation and what transpired.

    We saw your company email was also copied on most of those emails between the investor Canales and us. Therefore, you should have originals in your computers as well.

    If you'd rather speak with our attorney than us directly, we can arrange that. We are just looking to come into a final agreement in this issue.

  • Jan 24, 2018, Claiming party added:

  • Update to the public: Unfortunately no effort has been made by this party to take responsibility for any wrong doing. Instead there's a complete silence.

    Please beware IMC Money is heavily promoted by Eric Blackwell and the Real Estate Workshops, which was part of the network behind this connection. Several entities have been established by the same persons behind these networks.

    We will continue to keep the public informed.

What Claimant Wants Hide
1. Recovery of Losses: Original GAP Loan Dec 05, 2017 $39,000.00
2. Recovery of Losses: Wiring fees Dec 05, 2017 $60.00
3. Recovery of Losses: Accrued interest while paying off the defaulted loan for money lent Dec 05, 2017 $8,000.00
4. Other – Copy claim to regulators Dec 05, 2017 $14.99
5. Other – Pay for claim posting cost Dec 05, 2017 $14.99
6. Other – Physical delivery charges Dec 05, 2017 $4.99
Cash total : $47,094.97
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Do you agree with the claimant’s demands?  (If you are a party to this claim, click here.)
Respondent's Counteroffer Hide
The claimant's settlement terms were rejected with the following explanation:
  • I do not know this party or incident

    "My name is Chad Chiniquy and I am the President of IMC Money. We arrange financing for house flippers. We have never done any business with NNT Financial, LLC and have no idea why they have named us in this complaint. NNT Financial, LLC has never applied for a loan or done any type of business with our company. We do not have a personal or professional relationship with anyone at NNT Financial. We should immediately be removed from this claim.

    As I read the complaint, it seems as if there were many other people in this particular transaction that were possibly at fault. But IMC Money was not involved with NNT Financial, LLC.

    We refute this entire claim. IMC Money should not be named in this claim.

    There are many, many inaccuracies in the claim from NNT. First, Eric Blackwell, has NO affiliation with our company. He is not the "right hand" of anyone at our company.

    We NEVER told anyone at NNT Financial to wire money to anyone!

    We never even spoke to anyone at NNT Financial.

    In the NNT complaint, they write "the hard money lender Chad pressured us to get the money to the investor quickly due to the seller wanting to close ASAP". That is 100% false. There was NEVER any pressure from me or anyone in my office to send money to the investor. We NEVER even spoke with anyone from NNT Financial. This is the first time we have ever even heard of them.

    We demand that you take our name out of this claim. Please remove IMC Money, Chad Chiniquy, and Ali Jorgensen from this claim.

    We categorically deny all of the charges against us and ask that you immediately take remove us from this claim.

    We will be happy to discuss this further and provide additional information and documentation.

    We can be reached at (800) 399-2001 or chad@imcmoney.com

    Sincerely,
    Chad Chiniquy
    President
    IMC Money"

This claim will remain posted until resolved.

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