- Report: #1501128
Complaint Review: Dutchints Development - Los Altos CA
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Dutchints Development
5150 El Camino Real e20 Los Altos, 94022 CA, United States
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Dutchints Development Vahe Tashjian Sold me an equity investment in a home development, took out loans on the property without disclosure, never paid the builders, and left me with nothing Los Altos CA
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Be warned, Dutchints Development is involved in dozens of lawsuits. More than half of the property developments they are involved with have either liens or active lawsuits involving them. Based on what I've read about them: their conduct on some of their larger projects has resulted in illiquidity in the rest of their projects.
They've been accused numerous times in court for commingling funds on their projects. If this is true then it's safe to say they used the funds earmarked for my investment to provide liquidity to their other impacted projects. I find it hard to believe a firm with full time legal counsel would actually dare do something as wreckless as that. The other likely scenario is that every bank and possible creditor sees all of their lawsuits, liens and complaints and their access to credit dried up. They were not disclosing that they were wrecklessly overleveraged and now investors have to take the fall for their conduct.
It's also suspicious that in all of these lawsuits: Dutchints Development and Vahe Tashjian allegedly attempt to get investors to roll their secured debt into equity. Certainly something you'd want to do if you know you won't be able to pay them back in the future?
It's also suspicious that while all of these single family home developments started becoming delinquent, Vahe Tashjian allegedly had $4 million to commit to Urban Catalyst Opportunity Zone fund, managed by Erik Hayden whom was previously listed as a partner on the Dutchints Development website.
