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When I asked if he warned his friends not to buy anything, he said yes, but then he said no. I'm sorry. The Case Remains Cold, Even 'Affordable Housing' In LA Isn't Affordable. On September 24, 2019, the San Diego Superior Court issued a Temporary Restraining Order (TRO) with asset freeze and appointment of a Receiver over the Receivership Defendants (Silver Saddle Commercial Development, LP; Silver Saddle Ranch & Club, Inc.; The Galileo Commercial Property Owners Association, Inc., as well as any other entity that has conducted any business related to Defendants offering and selling of the Galileo Project investment contracts). So what are you saying? We then calculated each investors total claim by adding (1) the amount he or she paid toward the purchase of an undivided fractional interest in the Galileo Project; and (2) the amount contributed to the Galileo Capital Investment Fund (CIF). Maybe Tom and his sales agents tried to make people feel this way. DEBBIE NICASTRO: Okay, there's buy there is buyer's remorse. EMILY GUERIN: I had asked Tom and Debbie if I could record our conversation. Thank you. At the hearing, the Court approved the sale of the land for $900,000, with clear title and free of all liens and encumbrances. The Receiver will proceed with hiring a realtor and proceeding with listing and marketing the properties. Instead Judge Wohlfeil treated the ex parte application as an application for order shortening time, which he granted. Shop owners got 30-day notices to vacate this week but said the new owners reached out to extend that another 30 days. James and I had been to Silver Saddle before, just to check it out. And looking back on it, I think this moment, with Tom swiping on his phone, maybe that was when he started recording. In February of this year, the Court, after briefing and argument, confirmed that two other companies, High Plains Mesa Holdings, LP and High Plains Mesa Management, LLC, were part of the receivership estate. The deadline for bids on the Ranch and the Galileo Project properties was September 14, 2020 at 10:00 a.m. This is a text message Ben later received from Marian Ducreux, the Silver Saddle salesperson who sold him the land. On May 25, 2022, the California Attorney Generals Office filed criminal charges against a number of people in connection with the Silver Saddle Commercial Development-Galileo Project. Last year, the Receiver sought the Courts permission to approve the sale of land owned by Receivership Defendant High Plains Mesa Holdings, LP, for $4,100,000. Each investor would receive a part of the proceeds from the sale proportionate to the money he or she paid for the property. Accelerated Assets wanted to postpone any sale of the Ranch so that the Ranch can be used as part of settlement negotiations it wishes to have with the Department of Financial Protection and Innovation. Thomas Maney and the companies running these investments (the Defendants) were sued by the California Department of Financial Protection and Innovation (DFPI) in 2019. And kind of thing like that, why didn't you think this over? March 9, 2022 Motion to Approve Sale of Galileo Project Land Filed. I will sue you for defamation of character and false accusations if you will not stop this.. In that scenario, Investor As pro rata share is 3% and Investor Bs pro rata share is 5%. The highest water bill was $46,864 for mid-October 2019 to mid-November 2019. I'm talking to you right now. This comes after its weekly swap meet permanently shut down earlier this month. EMILY GUERIN: Really, so you think he's just kind of bullshitting me? If you are an investor and do not receive a letter by March 15, 2022, please contact the Receivers office at info@regulatoryresolutions.com. TOM MANEY: And I'm looking at pictures of the ranch right now from a helicopter. How else could something this bad have gone on for so long? If youd like to quote this podcast, please check the corresponding audio first. The sale of the Galileo Project Land, however, was put on hold. EMILY GUERIN: Actually, about 20% of Californians dont speak English well. $5.60 shipping. 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. For example, assume that Investor As claim is $30,000, Investor Bs claim is $50,000, and aggregate investor claims of $1,000,000. Prosecutors charged Thomas Maney, the 83 year-old owner of Silver Saddle, Marian Ducreux, 68, one of the companys top sales people, and seven other former sales agents, managers and employees of the ranch in late May. st lawrence county police blotter; how soon after gallbladder surgery can i get a tattoo; taurus horoscope today and tomorrow; grubhub acquisition multiple Post comments: . EMILY GUERIN: It wasnt a tragedy that occurred. It wasnt. Because whenever I asked about it, they wouldn't talk. Hes brilliant as to his ideas and how he structures things. As a result, the properties continue to be marketed and listed through our real estate broker. I treated you right and now you are telling people I lied. To say, oh, you're selling to people who don't speak English. October 14, 2020 Motion to Approve Sale of the Silver Saddle Ranch and Club Filed andTelephonic Hearing Set for November 6, 2020 at 9:00 a.m. On October 13, 2020, the Receiver filed a Motion to Approve the Sale of the Silver Saddle Ranch and Club (Ranch) for $2,100,000. I realized I had seen Ben as just one thing: a victim. And lets assume the receivership has $100 to distribute to the investors. 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. If you're enjoying this article, you'll love my daily morning newsletter, How To LA. She's not an, they're not employees here? Tell me, Emily, did he remember me? On September 29, 2020, California City approved the Ranch for a lower water rate, which should result in lower water bills. From the posts over time and based on my own research into the issue, there are several things that are apparent: 1. Now, the California Department of Business Oversight has accused the company of This means that the Receiver can start calculating investors losses so that, if and when a distribution is ordered, the Receiver can begin sending money to investors right away. LAist is part of Southern California Public Radio, a member-supported public media network. We sat down, and Tom began swiping on his phone. The Galileo Project land is presently encumbered by roughly 1,700 fractional interests provided to the Galileo Project investors. Which is how he ended up ensnaring his friends. re Accelerated's Opposition Preliminary Injunction (July 16, 2020), Receiver's Motion to Approve Sale (July 10, 2020), Receiver's Ex Parte Appl'n to Shorten Time (July 10, 2020), Receiver's Response to Motion to Intervene (July 9, 2020), Receiver's 1st Interim Status Report (Mar. Guthrie ThomasCountry 2012 Guthrie ThomasReleased on: 2012-02-17Auto-generated by YouTube. No dont, dont do that. A sale will eliminate substantial ongoing expenses. Those investors who sent written challenges to the Receivers claims determinations and still disagree with the Receivers Final Determination may submit a written objection to the Court within fourteen (14) days of the Receivers filing of the Final Determination of Claims. EMILY GUERIN: Oh, that you don't have cigarettes? At that time, you must provide copies (please do NOT send original documents) of all the information and documents supporting your challenge, for example bank statements and the front and back of cancelled checks. We will update again after September 15, 2023 status hearing or before if events merit. August 26, 2022 Receivership Case Stayed. EMILY GUERIN: So heres what I knew about Tom Maney at this point. So he moved in your horse power and in norco planning a little bit of millions of other upgrades. EMILY GUERIN: We actually had some at the Best Western, but thank you. SILVER SADDLE (Sella D'Argento, 1978) Italian TRAILERa film by Lucio Fulciwith Giuliano Gemma, Sven Valsecchi, Ettore ManniYoung boy who sees his father gunn. And the only person I thought might be able to provide some semblance of clarity was Ken Donney. Now the California Attorney General has accused nine of these sellers with crimes.accused nine of these sellers with crimes. He didnt need to, because, according to him, hed done nothing wrong. I opened my manila folder, and I slid Debbie and Tom a copy of the text messages that Marian had sent Ben after hed begun trying to get his money back. $10.20 shipping. Home > 2022 > June > 10 > Uncategorized > marian ducreux silver saddle. EMILY GUERIN: We drove back into town. EMILY GUERIN: Silver Saddle Ranch and Club was closed for the winter, so there wasnt really anyone around when James and in drove past the unmanned guardhouse. EMILY GUERIN: But by the end, Tom and Debbie switched tactics. Shame on you. With the trial date approaching, the Receiver intends to proceed with the sale of the Galileo Project Land for $900,000 to the same individual who purchased the Ranch. But I knew in the 70s, hed worked for Great Western Cities. TOM MANEY: We don't know. Most of the investors speak English as a second language. EMILY GUERIN: So I just wanted to thank you both in advance for being willing to do this and it's a good one too. In recent years, Silver Saddles sales agents made a similar pitch. KEN DONNEY: You hear me, Tom? Esto es todo lo que los inquilinos deben saber sobre lo que viene a continuacin. I know thats what hes wanted this whole time. B. Gordon and Exhibits, https://www.loopnet.com/Listing/20751-Aristotle-Dr-California-City-CA/19775266/, https://www.loopnet.com/Listing/Rutgers-Rd-Kennedy-Blvd-California-City-CA/20743529/. When I got home, I took a shower, I made some soup, and I collapsed on the couch. If you opted out of electronic delivery, Insperity will mail the W-2 to your home address that was on file as of December 31, 2019. Timeline for Court Challenge to Receivers Confirmation of Claim Determination. And I think they convinced him and his friends to lure even more people into their web. The Galileo Project land is presently encumbered by roughly 1,700 fractional interests provided to the Galileo Project investors. EMILY GUERIN: How'd you find out about it? And I knew hed been pretty high up the senior vice president and general counsel. The Receiver will reply to any objections and the Court will rule. Escrow was opened on September 29, and the proposed buyer has 21 days to clear contingencies. Investors Reviews of Claim Determinations. 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. He made me doubt myself. re Receiver's Motion to Approve Sale of Galileo Project Land (Mar. And how it left me feeling so confused. EMILY GUERIN: A lot of people had told me about these kind of wild claims that the real estate agents make during the sales pitch. Shop Owners Pack Up On Notice That Longtime German American Hub Is Closing, Southern California's Snow-Capped Mountains Are Beautiful. Every weekday, you'll get fresh, community-driven stories that catch you up with our independent local news. EMILY GUERIN: Like, do you feel like because you invited people you helped Silver Saddle get more people into the scam? However, the Court did ultimately approve the Receivers proposed method and procedures for a distribution. The Court determined that the Receiver had shown it was necessary to sell the Ranch, given the ongoing maintenance costs and the limited funds remaining to pay them. Investors should look for the letter in the U.S. mail. September 24, 2020 Ranch and Galileo Project Property Update. While many individuals have requested refunds, whether refunds will be issued depends on the outcome of the case and will be an issue for the DBO and the Court to resolve. The next new voices echoed off solar panels are in norco business development company? I dont know where to go. Among them? So I asked Tom about that. The Receiver intends to seek Court permission to proceed with the sale. But thats the level of fear that people have when they talk about it. Investors were required to contribute up to $2,000 to a pooled development fund that the defendants promised eventually would exceed $8 million. Marian has 1 job listed on their profile. That went wrong. The sale of the Ranch was approved in late 2020. The trial date in this case remains the same, September 16, 2022. Then we turned left on California City Boulevard, and we headed back to L.A., too tired to talk. Based on an independent appraisal prepared for the Galileo Project Land, the Receiver believes the price is more than fair and reasonable. It's good to see you. The Court took into account the Receivers concerns and recommendations, as well as those of the other interested parties. We will provide an update after the August 27 hearing. That's because I'm sweating and I need to air out my armpit. It was worse. For additional details on the sale of the Ranch, please see below. EMILY GUERIN: So are you saying that you're not responsible for their, sort of, their behavior or the way they interact with their customers, their clients? In March 2022, we sent out 2,970 letters to investors notifying them of the Receivers Preliminary Claim Determinations. 60 Years Of Deception And Land Sales In California City: 7 Takeaways From My Investigative Podcast, California City Podcast: State Adds Use Of Cell Phone Jammers to Complaint Against Silver Saddle, 'California City' Podcast Tells The Dark Side Of The American Dream. He felt like something wasnt right, but he invited people there anyway. marian ducreux silver saddle. If the motion is granted, the closing should occur 60 days thereafter. 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. I mean, its the way I live my life.. As a result, Investor A has a claim for $200, Investor B has a claim for $500, and Investor C has a claim for $300. The Receiver intended to use the money from the sale to pay the expenses of the Receivership Estate and provide a first distribution of funds to Silver Saddle investors to begin compensating them for their losses. The Motion is posted in full in the Documents section of this webpage. Division of Consumer Financial Protection, Division of Corporations and Financial Institutions, Licensee & Financial Service Provider Search, Actions, Order and Administrative Hearing Decisions, Central Locations for Service of Legal Process, Office of Financial Technology Innovation, Press Releases 2009 - 2013 (Dept of Corporations), Press Releases 2001 - 2013 (Dept of Financial Institutions). I needed someone to help me make sense of what had just happened with Tom and Debbie. forrest county busted newspaper. EMILY GUERIN: Administrative office. The criminal complaint is available in the documents section of this webpage. Im seeking help to everyone can help me. marian ducreux silver saddle. However, before this can occur, the current escrows must be canceled. For the latest national news from NPR and our live radio broadcast, visit LAist.com/radio. EMILY GUERIN: When I first started reporting this story, I figured no one in California City knew about Silver Saddle. I lose hope. My palms were all clammy on my microphone. 4 watching. The Top 5 newsletter catches you up with LAs top 5 stories in just 3 minutes. October 16, 2019 Preliminary Injunction, Asset Freeze, and Confirmation of Receiver Order Issued by San Diego Superior Court. If you think the Receivers claim determination is wrong, you have until April 8, 2022 to send the Receivers office a letter or email challenging the calculations. MICHAEL VIERNES: Well, Benjamin is a good friend of mine. Great Family Events like Night Swims and Family Fun Day with a DJ. Or was he just trying to make as much money as he could, the only way he knew how? As such, the Receiver accepted the offer and intends to seek Court authority to sell the Galileo Project land. While we have heard from a number of Galileo Investors (who are coordinating with Antonio Garcia and Carlos Novelo, and their United Owner Investors, Inc.) objecting to the sale of the Ranch, the investors do NOT hold an interest in the Ranch property. Because of these ongoing costs, we have determined selling the Ranch is in the best interest of the Receivership Estate. EMILY GUERIN: That was like the nicest, confrontational interview I've ever done. The multi-family homes were red tagged by authorities late Wednesday. But I think Im particularly susceptible to it. By Emily Guerin and Gabriel Dunatov | KPCC/LAist For decades, salespeople at a remote resort in the Mojave Desert have allegedly used high pressure sales tactics to sell land to thousands of people throughout California, including many in Filipino, Chinese and Latino communities. As we have previously noted, the Galileo Project investors do NOT hold an interest in the Ranch property. As we got closer, we saw the road snaking up Galileo Hill. This will ensure the sales process is healthy and will maximize the sales price, which is in the best interest of the Receivership Estate. The Vietnamese refugee who trusted Californias laws would protect him from scams. The Top 5 newsletter catches you up with LAs top 5 stories in just 3 minutes. What questions do you have about Southern California? THERESA GRIMSHAW: You don't want to say something and end up not being able to find your body somewhere. Escrow was opened on July 2, 2020. At that time, the Receiver will also file a Notice of Final Determination of Claims with the Court. The Receiver also filed a Response to the Motion to Intervene filed by Antonio Garcia and Carlos Novelo. MICHAEL VIERNES: Why the hell did you do this? We have reached a Final Determination of Claims, which can be accessed through this link Final Determination of Claimsor found in the documents section of this webpage. My point was that there is a difference between running a business that caters to certain kinds of people, and targeting them with a confusing sales pitch. EMILY GUERIN: Okay. A telephonic hearing has been set for August 27, 2020 at 9:00 a.m. to allow for full briefing on the matter. The DBO previously issued a Desist and Refrain Order on June 18, 2019, that directed Maney, Silver Saddle and the other business entities to stop offering or selling investments in the desert property. Ok? The case remains pending in San Diego County Superior Court, with a current trial date of January 21, 2022. Period. Unfortunately, the Receiver did not receive acceptable offers before the deadline. Help us improve the DFPI website! 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.

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