And how it left me feeling so confused. I knew Tom had once lived in Carmel, California, in a 4-bedroom house with six fireplaces, a sauna and a view of the sea. Will Orange County's Fledgling Clean Power Agency Survive? He knew in order to get his money back, his friends had to buy in. Defendants comingled and diverted funds that had been promised to be set aside and preserved for the investors benefit, making it difficult to trace exactly how investor money was being spent. The lowest water bill was $4,339 for mid-March 2020 to mid-April 2020. A simple example can help explain how this works. But he also made other people victims.". You can either mail the information to: Silver Saddle Receiver c/o Regulatory Resolutions 655 W. Broadway, Suite 900 San Diego, CA 92101. After the Court does so, the Receiver will submit a proposed Order to the Court consistent with the ruling. EMILY GUERIN: Tom rejected the accusation that Silver Saddle targets people who dont speak English well. The Court is currently scheduled to hear DBOs motion for preliminary injunction on July 24, 2020 at 9:00 a.m. DBO also added Kelly Maney, Maria Rosales, Robert Kvassay, and Richard Huebner as additional defendants. As we have previously noted, the Galileo Project investors do NOT hold an interest in the Ranch property. DEBBIE NICASTRO: Its a requirement of you coming. silver saddle ranch lawsuit Sign in ontario median income. So, I was ready. EMILY GUERIN: Michael sat through the sales pitch and thought to himself, these people are liars. So afterwards, he pulled Ben aside, and he kind of reprimanded him. Clifford J. Reynolds of Pasco, Washington; Marian G. Ducreux of Corona, California; and Wayne A. Pedersen of Sequim, Washington are identified as relief defendants who allegedly received ill-gotten gains from the scheme. EMILY GUERIN: It just seems like there are a not insignificant number of people that just don't really understand what they're buying. Based upon an independent appraisal prepared for the Galileo Project land, the Receiver believes this offer is fair, reasonable, and at or above market value for the property. EMILY GUERIN: Ive thought a lot about how this all makes me feel about Ben. Hes brilliant as to his ideas and how he structures things. $32.99. We have reviewed records from Equiant and Silver Saddle which detail the investor payments recorded by the Defendants. The Court granted Mr. Maneys request on August 11, 2022, which means the trial in this case will no longer occur in September as previously scheduled. It was even through the tough questions. And they say it over and over and over, in the calmest possible way, until you begin to think maybe this person is right. He was wearing a short sleeve polo shirt, and I think I saw a tattoo peeking out on his right arm. Western Saddle Bridle Silver Trim Kit 2 Billet Trim & 6 Conchos Rope Edge Floral. TOM MANEY: I just think thats a terrible thing to say. And, I wanted it to be true. Did he believe that 60-year old refrain: that California City was on the verge of booming? So I asked Tom about that. SilverSaddle Marian is on Facebook. When I asked him if he invited his friends to Silver Saddle before or after he decided it was a scam, at first he said after, but then he said hed been 50-50 at the time. Heres How To Start Your Search, Emmery Muoz, 14, Was Killed In LA 17 Years Ago. Why did I, you know, I went to buy a Volkswagen, I just bought a Mercedes, you know, why did I do that? MICHAEL VIERNES: Well, Benjamin is a good friend of mine. Investors Reviews of Claim Determinations. Which I thought was weird, because Tom had continued using Kens warning label on Silver Saddles contracts. The Courts decision means that when the sale closes, the Silver Saddle investors will no longer have an interest in the Galileo Project Land. The Court said that the Receiver can continue to collect funds for the Receivership Estate, but the stay may affect the timing of a distribution to investors. The guys from Solid, who were L.A. originals. EMILY GUERIN: You don't, you don't think so? Based upon an independent appraisal prepared for the Galileo Project land, the Receiver believes this offer is fair, reasonable, and at or above market value for the property. The charges include conspiracy to commit a crime, grand theft of personal property, securities fraud and use of a scheme to defraud a consumer regarding the sale of securities. Trial is presently scheduled for May of this year. Lets assume Investor A invests $200, Investor B invests $500, and Investor C invests $300 for a total of $1,000 invested. The host and a team of producers worked hard to make the podcast sound its best, and this transcript cant capture all the voices, emotion, intonation and atmosphere in the original audio. The Galileo Project land is presently encumbered by roughly 1,700 fractional interests provided to the Galileo investors. TOM MANEY: We don't know. One of these companies, High Plains Mesa Holdings, had a lease option agreement in place to sell a 640-acre parcel of land to a solar energy company for roughly $4,100,000 before this lawsuit was filed. EMILY GUERIN: Tom. TOM MANEY: Cus, you know, were taking a very hard look at everything that were doing to make sure that we can eliminate as much of these problems as youre mentioning. The Receiver has been marketing the Ranch through a real estate broker for sale since May. The Court approved the sale on November 6, 2020, and the sale closed on January 14, 2021. I'm just saying I don't, when I read this, I don't think Marian wrote it. THERESA GRIMSHAW: You don't want to say something and end up not being able to find your body somewhere. More information on these matters is available in the Receivers Fifth Interim Status Report (filed September 16, 2021) and the Receivers Sixth Interim Status Report (filed January 13, 2022). The DBOs regulatory jurisdiction extends over state-chartered banks and credit unions, money transmitters, securities broker-dealers, investment advisers, non-bank installment lenders, payday lenders, mortgage lenders and servicers, escrow companies, franchisors and more. As a result, the properties continue to be marketed and listed through our real estate broker. Starting in 2011, Maney and the other defendants allegedly targeted unsophisticated investors in ethnic communities through supermarket raffles and social media. For example, to date the Receiver has paid $285,580 for water alone. Finally, last year, the parties filed a Joint Stipulation to Continue the trial and related dates and deadlines to allow them to address discovery and potential settlement issues, which the Court granted on October 22, 2021. LA Mayor Karen Bass Announces Increased Funding For Homelessness Initiative, Heres How To Comment On Proposed Billion Dollar Changes To The California State Capitol, Emily Guerin tells a story of money, power and deception. View Marian Ducreux's profile on LinkedIn, the world's largest professional community. Las protecciones contra el desalojo debido al COVID-19 de Los ngeles han finalizado. We make sure they know. EMILY GUERIN: Michael is kind of like Bens big brother. And lets assume the receivership has $100 to distribute to the investors. EMILY GUERIN: Okay, but is Silver Saddle bound by that FTC judgment? And you start trusting and putting faith in people and sometimes that, that bites you. He told his director of operations, Debbie Nicastro, that he thought we were going to make Silver Saddle look bad. 4 watching. 4, 2022), Knight Decl. We rolled down our windows and we smelled the petrichor. oferta; cennik; dla biznesu; Nasza flota Background on the Process to Reach a Final Determination of Investor Claims. We know that . Because I could see somebody who was like, looking at it from the outside being like, "Wait, Ben is a victim. Do you think thats where we should go? The Court ordered that the Receiver cannot distribute any money to investors until the conclusion of the case. On September 9, 2019, the California Commissioner of Business Oversight (DBO) filed an action against multiple parties involved in a real estate investment scheme which allegedly sold highly overpriced fractionalized interests in vacant desert land in rural Kern County, California. We will provide a further update at that time. Notice to Investors re Claim Determinations (Mar. The sale has been structured to allow the buyer 30 days to clear contingencies for the Ranch property and closing will be 60 days after the Court approves the sale. The Galileo Project land is presently encumbered by roughly 1,700 fractional interests provided to the Galileo Project investors. Thomas Maney and the companies running these investments (the Defendants) were sued by the California Department of Financial Protection and Innovation (DFPI) in 2019. My senior producer and I even role-played. Tom never raised his voice. 4 watching. EMILY GUERIN: It wasnt a tragedy that occurred. Im seeking help to everyone can help me. But Tom didnt think it applied to Silver Saddle. The Court denied the Receivers ex parte application for an order cancelling escrows for the Ranch and Galileo parcels, and stated that it was not inclined to rule on the request via ex parte application. Silver Saddle Ranch and Club sits at the foot of Galileo Hill the same spot where Nat Mendelsohns salespeople took potential clients and told them to imagine a beautiful new city. That city never developed, as evidenced by the miles of abandoned roads that surround Galileo Hill today. The agency accused Silver Saddle, Maney, Ducreux and other defendants of securities fraud and selling unqualified securities. As we got closer, we saw the road snaking up Galileo Hill. Doubt everything that I had learned, which was a lot. TOM MANEY: Well, she's an independent contractor. It was playing pool home in her to your browser does not talking about him to help me from silver saddle bound by bahman, without providing our detailed listings. The new trial date is May 6, 2022. In these uncertain times, your support is even more important. EMILY GUERIN: God that cat is always here. We shake their hand just like everybody else and give them the gifts, and away they go. Please understand that the Receivership Estate has very limited assets primarily the proceeds from the sale of the Ranch and the anticipated funds from the sale of the Galileo parcel (if approved by the Court). And when Debbie asked her about it later, she admitted it. He felt like something wasnt right, but he invited people there anyway. So what are you saying? The criminal case continues and, as a result, the Court has extended the stay in the receivership case until at least the next status conference which it scheduled for September 15, 2023. The Vietnamese refugee who trusted Californias laws would protect him from scams. He made me doubt myself. A telephonic hearing has been set for August 27, 2020 at 9:00 a.m. to allow for full briefing on the matter. EMILY GUERIN: When I got inside, Michael offered me cold water, Jameson, coke or Nescaf. TOM MANEY: We never give anybody a bad time if they don't buy. Maybe Tom and his sales agents tried to make people feel this way. The individual expressed a concern that he did not have a full and fair opportunity to pursue an offer which he provided to the broker. The young dad, fresh out of jail, with only $1,000 in the bank and a fussy baby in his arms. And I think they convinced him and his friends to lure even more people into their web. All of us were confused after we left Silver Saddle. $10.20 shipping. The Receiver also filed a Response to the Motion to Intervene filed by Antonio Garcia and Carlos Novelo. Escrow was opened on July 2, 2020. But they werent to blame. As explained below, if you disagree with the Receivers determination you must contact the Receivers office by mail or email on or before April 8, 2022. EMILY GUERIN: After three hours, we stumbled out into the early spring sunlight. Asked her about it later, she admitted it was wearing a short polo. Do n't buy defendants of securities fraud and selling unqualified securities reviewed records from and... 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