Complaint Review: Bob Mangold Home Smart - Scottsdale Arizona

Bob, you ripped off my parents (and many other people who trusted you) to the tune of over $300,000 and the judgement against you says you MUST pay them back. If you have any decency left in your body you will begin paying them back NOW!!!

Because of you, my parents stand to lose the home they have owned since 1959. The home that all of my siblings and I grew up in. The home that MY children, nieces and nephew know as Grandma and Grandpa's house.

I hate you for what you've done to them and you should be in jail, never to ripoff anyone ever again. My parents took you at your word, which obviously meant NOTHING. They saw you as someone who could help them and instead you smiled to their face and then stabbed them in the back. Now it's time for you to pay back all of what you owe to everyone you've ripped off, you son of a b***h. If you don't, I will personally take it from you.

DO NOT DO BUSINESS WITH THIS THIEF!!!

To All Concerned:

About three and a half years ago Bob and his brother Ed advised my father-in-law, a 70+ year-old U.S. Army veteran and (now) retired career educator, to refinance the home he and my mother-in-law raised their four children in to make a securitized investment of $200,000 with his Scottsdale, AZ company guaranteeing them an annual return of 12%. Unfortunately, my
in-laws trusted them. Now their money is GONE. Even after receiving judgments from the state of AZ against Bob, my
in-laws have not received one dollar of their initial investment back, let alone the interest owed them for well over three years. To make matters worse, they now stand to loose their home of over 40 yearsthe home my wife was raised in; the home their grandchildren and great grandchildren celebrate the holidays in.

My family has serious doubts as to whether or not our mom and dad, grandma and grandpa will even begin to be repaid within their lifetime. This is a great injustice.

If Bob truly wants to restore his professional reputation, he can start by repaying the senior citizens that are currently and unjustly suffering as a result of his business dealings. As of the date of this writing, they have received nothing. And it has been years since the judgments against him have been handed down. How long does it take to do the right thing?  One wonders whether or not it is truly Bobs intention to make things right or not.

Sincerely,
Steve

If anyone wants to take the time to read all of the filings you will see that I have NOT been accused of taking any investors money. The issue is that the investments are being considered as a "security" which were unregistered.

I had attorneys advise me that the investments were not considered a "security" and that it was not an issue. That is the allegation of fraud, not that I embezzled any funds.  All investors money was invested in real estate that secured their investments.  An accounting of all funds my company received has been documented to the State and there is no issue of money being stolen.

However, it is an issue and I am not hiding from any of this.  I am working with all investors and the AZ Corporation Commission.

The judgments are in place so that the investors can get their money back when the properties are sold.  I am in the process of putting a plan in place to sell the real estate and get as much of the investors money back as possible.

I believe everyone understands what has happened to the real estate market in the last couple of years.  Our investment has not turned out the way we had hoped.  Several of the investors have gone to court to file a judgment and I understand their desire to do that.  in fact, I have made no legal effort to stop them.

My goal is to sell the real estate that my investors are secured by and insure I do everything I can to facilitate this process.  I have not filed bankruptcy which could have protected me from most of these proceedings, nor tried to run away from the issue.

I am in contact with all investors and their attorney's.  Unfortunately, this was posted by an ex-employee of my company that feels he should have been paid more.  I have received several threatening e-mails from him telling me he would ruin my reputation online and we are in the process of taking legal action against him. 

While I wish this never happened, it was not a scam, just bad timing.  And, I continue to work with clients and can probvide MANY testimonials from people that I do a great job for.

Bob Mangold

Here is the corrected link to view all of the current judgments on the Maricopa County Recorder's website: http://recorder.maricopa.gov/recdocdata/GetRecDataPaging.aspx?biz1=&biz2=&fn1=robert&mn1=&ln1=mangold&fn2=&mn2=&ln2=&begdt=01/01/1947&enddt=1/13/2010&doc1=&doc2=&doc3=&doc4=&doc5=

For any of you that currently work with Bob or are thinking about it go to the Superior Court Of Maricopa County's website at: http://www.superiorcourt.maricopa.gov/docket/CivilCourtCases/caseSearchResults.asp?lastName=mangold&FirstName=robert&bName=

You will see the 7 current court filings against Bob for fraud and theft of investment money from his clients. Bob collected millions of dollars from his clients for bogus investments in mortgage notes. He made off with their money and his clients ended up with useless pieces of paper.

Still want to work with Bob? Check out the Maricopa County Recorder's website and view the 5 current judgments against him for theft and fraud. You can check it out here: http://www.superiorcourt.maricopa.gov/docket/CivilCourtCases/caseSearchResults.asp?lastName=mangold&FirstName=robert&bName=

Bob currently works at First Priority Financial and is a realtor with HomeSmart. Why would you ever trust such a scam artist to sell you a home or do your mortgage for you? Clearly, he only does what is good for him and not his customers. 

September 28, 2009

I have received notification from the Arizona Department of Real Estate concerning their investigation of the complaint filed by Brian Powell.

They have found no wrong doing on my part and have closed the investigation.

Bob Mangold

Here is proof that Bob is a scam artist..... --> images.edocket.azcc.gov/docketpdf/0000095868.pdf <--click here

After reading this report I felt it was important to respond to protect my reputation. I did meet with Brian and outline for him all of the steps, the process and pitfalls of doing a short sale. We did receive an offer on his home in early February. We did contact all three of his lenders. However, anyone who has either handled or been through a short sale will understand that the lenders will respond on their time frame not ours. Based on the number of months Brian was behind on his payments, I repeatedly asked (and have the e-mails to document it) if he had received any notice of a trustee sale or had been served papers from any of his lenders. He told me on several occasions he had not. If I do not have accurate information, I cannot do my job effectively. Knowing that a sale date was scheduled would have been critical information for me to have. The lenders had not assigned negotiators and had very little contact with us, which made that information more critical. Unfortunately, we found out that a sale had been completed before all lenders were willing to negotiate. In addition, the buyer had found another home and backed away. Brian had been told by another agent that once an offer was received it only takes a couple of weeks for the lender to approve it. Anyone who is in our business or has been through a short sale knows that it takes months not weeks. I feel bad for Brian and his family and he is a very nice man. But, I did my job and handled this transaction properly. Thanks, Bob Mangold