Florida investor hits real estate syndicator with fraud suit over $750K

Florida investor hits real estate syndicator with fraud suit over $750K
Six apartment deals, one "big account," and $2.7M in undocumented insider loans. Now the lawsuit lands
MAY 20, 2026

A Florida investor is suing a real estate syndicator in Mississippi federal court, alleging fraud, commingled funds and hidden insider loans have left his $750,000 stake in six apartment deals at risk. 

Robert Burr says he handed over money between 2019 and 2023 to back six multifamily projects pitched by Chasseur Realty Investors, LLC and its principal, Robert Dominy. The deals spanned Jackson, Mississippi, a Valdosta portfolio and other markets, marketed under names like Fondren Hill, Williams, Valdosta, The Flats, Woodlake and The Drake. Each came packaged in what Burr's lawsuit calls a "Confidential Information Package," complete with a limited partnership agreement, a sources-and-uses table laying out reserves for improvements and working capital, and a proforma projecting returns. 

According to the filing in Burr v. Chasseur Realty Investors, LLC, No. 3:26-cv-00349 (S.D. Miss.), those reserves were never actually set aside. Burr alleges that investor money was instead funneled into a centralized account his filing calls the "big account" — formally, Chasseur Realty Investors Business Checking — and into a personal account labeled Dominy R Everyday Checking. Wells Fargo statements cited in the filing purport to show repeated transfers from project-level accounts to that central pool, to unrelated projects, and to Dominy personally. The partnership agreements, Burr says, expressly barred commingling and prohibited the projects from taking on debt beyond their initial acquisition loans. 

The filing claims the picture only sharpened on April 15, 2025, when Dominy sent investors letters disclosing, for the first time, more than $2.7 million in purported loans he had personally made to the projects. No promissory notes or supporting documents were ever produced, Burr says, despite repeated requests. When investors pushed for full bank statements, the response, according to the filing, was that producing them was "unnecessary" because "[a]ny competent accountant can just follow the inflows and outflows and answer every question." 

By spring 2026, lenders had foreclosed on the Valdosta, Flats and Drake properties with nothing returned to investors, the suit alleges. Fondren Hill's loan was in lockbox with its lender, and Dominy was trying to sell the building — with Chasseur, Burr claims, positioned to scoop up any net proceeds ahead of limited partners on the strength of those undocumented insider loans. 

For advisors steering accredited clients into private real estate syndications, the allegations read like a checklist of due-diligence red flags: missing audited financials, anti-commingling covenants on paper but not in practice, sponsor advances quietly reclassified as priority debt, and single-asset entities operated, Burr alleges, as one pooled pot. Quarterly investor letters, the filing says, painted an "optimistic picture" while monthly cash-basis reports and annual audits required by the partnership agreements never arrived. 

Burr is asking the court for compensatory, rescissory and punitive damages, disgorgement, a full accounting, and an order blocking any payout from a Fondren Hill sale to the defendants. 

The allegations have not been tested in court. Chasseur and Dominy have not yet filed a response, and no judge has ruled on any claim. 

Related Topics:
SEC sues California real estate fund manager over alleged $15M Ponzi-like scheme Legal: SEC charges fund managers with defrauding investors in $12M fund

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