Saturday, September 21, 2024
Chris Aubin Podcast Brendan Whiting “Introducing one of the newest members of the @officialandyelliott Inner Circle Brotherhood @chrisaubin55”
Patsy Sperduto is not mincing words about the Rhode Island-based firm Anchor State Investments and its CEO, Christopher Aubin.
He says that Aubin is taking in investors’ money and using it to fly private jets, pay for tens of thousands in custom suits, and drive Lamborghinis.
Sperduto invested hundreds of thousands of dollars into Aubin’s firm and was promised big returns. Anchor State Investments claims it does real estate investment and “hard money” lending.
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“He was driving a Lamborghini Huracan, and then he was driving a Lamborghini Urus,” said Sperduto.
Aubin’s Instagram page is littered with photos from Paris, flying in private jets, and vacationing in Greece.
Sperduto and another investor have filed a lawsuit against the company and Aubin, asserting fraud and other charges. The lawsuit is pending in Providence Superior Court.
Sperduto says he is pressing forward with litigation because “others need to know about [Aubin].”
“He is running a Ponzi scheme,” says Sperduto.
Aubin’s Instragram Page that features global travel SOURCE: Instagram
Aubin’s Story
Aubin, in a ten-minute phone interview, told GoLocal, “I never said he couldn’t get his money back.”
When asked if the money had been returned, Aubin said, “That’s between my attorney and his attorney.”
However, exhibits to the lawsuit show text messages allegedly between Aubin and Sperduto in which Aubin repeatedly promised to return Sperduto’s investment but failed to do so.
According to the lawsuit:
On Monday, May 6, 2024, Anchor State agreed, through its manager Aubin, that Sperduto would receive his entire $250,000 back on Thursday, May 9, 2024, states the lawsuit citing text messages between Sperduto and Aubin dated May 6th.
Aubin: “We’ll do the whole 250 next week”; “You’ll be good for Thursday.” On Wednesday, May 8, 2024, Sperduto confirmed via text with Aubin that Anchor State would be wiring the funds to Sperduto on Thursday, May 9, 2024. See text message between Sperduto and Aubin dated May 8th attached hereto as Ex. 2 (Sperduto: “Are we set for Thursday for that wire”; Aubin: “Yes sir”). On Thursday, May 9, 20024, Sperduto texted Aubin to inquire as to when the wire would be sent that day and
Aubin promised to check on the wire when he was in the office. See text messages between Sperduto and Christopher Aubin dated May 9th attached hereto as Ex. 3.
Anchor State never wired the $250,000 to Sperduto on Thursday, May 9, 2024, as Aubin promised. Sperduto has been in almost daily communication with Aubin at Anchor State since May 9th, and Aubin keeps promising to wire Sperduto the $250,000 and has a series of excuses as to why the funds have not been wired to Sperduto yet. As of today, Sperduto has not received the wire for $250,000.
Shortly thereafter, Sperduto and Jeong Kim, another investor, filed suit.
Combat Care Foundation has 22 followers SOURCE: Instagram
Aubin “Working to Help Veterans
Aubin says he is a Marine veteran and tells GoLocal that he is working to help fellow vets.
In the interview with GoLocal, Aubin could not point to any projects that he has completed with investors’ monies. He said he is now working to build homes for veterans.
“We are a growing company; we are veteran-owned,” said Aubin repeated a number of times.
His company’s website claims it is able to do “hard money lending.”
“Looking to take out a loan? Get money when you need it! We prioritize efficiency and speed, ensuring that you can access cash in as little as 48 hours from application to disbursement. Whether you’re looking to fund a new investment venture, undertake a home renovation project, cover unexpected expenses, or consolidate debt, our streamlined loan process makes it easy to get the money you need, when you need it most.”
“Our team of experienced professionals bring a wealth of knowledge and expertise to the table,” states Aubin’s company’s website. According to Rhode Island business records, Aubin’s company, Anchor State Investments, was registered in May of 2023.
In the interview, Aubin admitted he had no projects in Rhode Island, but “some in Mass” but could not name them.
“But most of our [projects are in] southern, southeast, like the United States, like Tennessee, the Carolinas, Texas.”
When asked about the status of these projects, specifically how many units have been completed, and whether tenants are living in them, Aubin said, “Our goal is 200 total units…so those projects are all over.”
When asked if any of the projects were completed, Aubin said, “Well, I don’t want to speak as we have not done the announcement yet.”
“We are filling for a foundation to help veterans transition. We are filing it now; it’s called ‘Combat Care Foundation,’” said Aubin.
There is no sign of the organization besides an Instagram page with 22 followers and nine posts that exists. “Combat Care Charity Organization LIFE AFTER MILITARY! Foundation for first responders and veterans providing educational, mental, physical and general life assistance,” states the Instagram page.
The organization does not appear to have a website or a designation as a not-for-profit 501 (c)(3) designation from the IRS.
Aubin did appear on a podcast explaining how after his service in the Corp he figured out how to make money.
The four-count lawsuit contains two claims of fraud and two claims of breach of contract.
Aubin’s lawyer denies many of the key provisions of the lawsuit. Aubin said in some cases, investors were not entitled to the money back at the time of the requests.