EMILY GUERIN: So heres what I knew about Tom Maney at this point. And he said, hey, what are you guys doing this weekend? And lets assume the receivership has $100 to distribute to the investors. I will sue you for defamation of character and false accusations if you will not stop this.. I went through with it because, at that point in my life, it was just easier to say yes than to say no. Their customers were. However, before this can occur, the current escrows must be canceled. The Galileo Project property has been listed for $919,746. I mean, I'll speak for myself, its like, oh, what, what did I just do? Oh my god, I want to do this. The Motion details the proposed distribution process. Why did I, you know, I went to buy a Volkswagen, I just bought a Mercedes, you know, why did I do that? Instead, each investor will receive a share of the proceeds proportionate to his or her investment in the Galileo Project (a pro rata share). TOM MANEY: We never had any, any problems. The administrative action is currently pending. I needed someone to help me make sense of what had just happened with Tom and Debbie. If the Motion is granted, the Receiver will be able to start the distribution process. You know, we've all gone through that. We continue to receive inquiries and entertain offers for the properties. Note: California City is a podcast for a reason. Join Facebook to connect with SilverSaddle Marian and others you may know. LAist Studios relies on listener support to bring you the podcasts you love. Trial is presently scheduled for May of this year. Both the Ranch and the Galileo Project property are listed for sale. EMILY GUERIN: Tom made me feel like everything was crystal clear. The multi-family homes were red tagged by authorities late Wednesday. In my podcast California city, I told the story of a small town in the Mojave Desert where, for more than six decades, salesmen have been selling nearly worthless desert land to unsuspecting people. I was going to a convicted murderer for advice. Straight up! Even with the reduced water rates, we expect water will continue to be a substantial expense and all other expenses will continue e.g., electricity, labor, and insurance. The next new voices echoed off solar panels are in norco business development company? And now I lose my future. EMILY GUERIN: Tom rejected the accusation that Silver Saddle targets people who dont speak English well. As we got closer, we saw the road snaking up Galileo Hill. Heres How To Start Your Search, Emmery Muoz, 14, Was Killed In LA 17 Years Ago. Forever. JAMES KIM: How are you feeling now about Tom's interview? Many of those consumers ended up spending tens of thousands of dollars on land they were made to believe would be worth much more in the near future. ENGRAVED PRAYING COWBOY SILVER TRIM KIT for horse saddle cantle conchos. The Receiver determined that it is necessary to reopen the sales process and allow all interested parties to present their best and final offers. TOM MANEY: Well, theyre buying more than just the land. It's made very, very, very clear that you are coming for a sales presentation. Investors should look for the letter in the U.S. mail. junio 30, 2022 junio 30, 2022 / silver saddle ranch lawsuit. This would mean that after the sale, the investors would no longer have an interest in the Galileo Project Land. It had rained the night before, and the air tasted clean and cold. TOM MANEY: Series of different companies, actually. oferta; cennik; dla biznesu; Nasza flota The Galileo Project land is presently encumbered by roughly 1,700 fractional interests provided to the Galileo Project investors. We have an appointment with Debbie. The new trial date is May 6, 2022. On March 19, the Court heard oral argument on the Receivers Motion and denied the Receivers request to proceed with an interim distribution to investors. DEBBIE NICASTRO: That's not true. As we have noted repeatedly, calculating the Final Claim Determination amounts does NOT mean investors will receive those amounts. The list is sorted by investor account number, which number was included in the Preliminary Claim Determination letters that were mailed to each investor. 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. 12 pc. TOM MANEY: I'm saying they may not. The Receiver has been marketing the Ranch through a real estate broker for sale since May. It is currently listed for $1,895,000. Or whatever. JAMES KIM: Yeah, I was gonna say that too. We know that . The guys from Solid, who were L.A. originals. EMILY GUERIN: Tom is pretty ripped for his age. A receiver was appointed to take over the company assets for the benefit of the investors. Tom denied he sold land for up to 100 times what its worth. 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). EMILY GUERIN: We even bought souvenir mugs with cash, obviously, because we didnt want them to have our credit card information. Because, thats how Ben Perez felt too. There will not be a hearing on August 27, 2020 to cancel the escrows. The hearing originally set for August 19, 2020 on the Receivers motion to approve the sale of real property owned by Silver Saddle Ranch & Club, Inc. has been taken off calendar. The property was split into 4,000 fractionalized interests to sell to investors. For the five-month period of September 2019 to March 2020, water, electricity, labor, and insurance costs for the Ranch was approximately $230,000. They want out. Hes brilliant as to his ideas and how he structures things. I dont think theyd assume wed go to the administrative office. If you are an investor and you agree that the claim determination prepared by the Receiver is correct, you do not need to do anything. Importantly, the Receiver intends to request the Court authorize that the Galileo Project vacant land be conveyed with a clear title and free of the Galileo Project investors fractional interests. The asset freeze and preliminary injunction will prohibit Maney from soliciting further investments, spending any more investor money and destroying any records related to the investment scheme. The bankruptcy petitions and appeal were ultimately dismissed, allowing the Receiver to take control over the roughly $4,100,000 in sale proceeds. That city never developed, as evidenced by the miles of abandoned roads that surround Galileo Hill today. He didn't just stop with us. I'm sorry. Real Estate Broker at Silver Saddle Ranch Corona . As such, the Receiver accepted the offer and intends to seek Court authority to sell the Galileo Project land. As we previously reported, even though operating expenses have been reduced, maintaining the Silver Saddle Ranch and Club (Ranch) continues to drain the limited resources of the Receivership Estate. As a result, the properties continue to be marketed and listed through our real estate broker. As the Receiver, it is Mr. McNamaras job to identify, pursue, collect, and preserve the assets of the Receivership Estate while the lawsuit proceeds. As such, the Receiver accepted the offer and will soon seek Court authority to sell the Galileo Project land. The escrows for the Ranch and Galileo Project property have been cancelled. He spent a free weekend there in 2017, and ended up forking over $30,000 for a confusing, desert-land investment product. DAVID DAI: You know what, we are immigrants, and we thought in America, we cannot imagine this happen to us. We just don't do it. The sale closed but in August 2021, the owners of High Plains Mesa Holdings appealed the sale and filed a bankruptcy petition on the companys behalf without the Receivers permission. At the same time the Receiver accepted an offer to purchase the Silver Saddle Ranch, he accepted an offer to purchase the Galileo Project Land. 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. And the only person I thought might be able to provide some semblance of clarity was Ken Donney. Accordingly, he filed a Motion for Approval of Proposed Distribution Method and Procedures with the Court asking for permission to make a first distribution. We want to make sure no one else is harmed and to recapture as much of the investors money as possible.. January 17, 2020 W-2s for Former Employees. And they say it over and over and over, in the calmest possible way, until you begin to think maybe this person is right. After obtaining an extensive appraisal, the Receivers team interviewed and selected a broker, Kidder Mathews, to sell the Ranch. MICHAEL VIERNES: Tell you the truth, Ben was acting kind of fidgety. Thomas Maney and the companies running these investments (the Defendants) were sued by the California Department of Financial Protection and Innovation (DFPI) in 2019. DEBBIE NICASTRO: I'll tell you right now. As such, while we have carefully considered the concerns raised by these investors, they do not have legal standing to object to the sale. The Receiver also filed a Response to the Motion to Intervene filed by Antonio Garcia and Carlos Novelo. The relevant documents can be accessed at the links below or by clicking on the documents to the right. March 29, 2023 Receivership Case Remains Stayed. So what are you saying? Once Ben Perez realized that hed made a mistake by investing in Silver Saddles land banking project, he emailed Silver Saddles general mailbox to get his money back. It was calm. EMILY GUERIN: Actually, about 20% of Californians dont speak English well. The minute order granting the Receivers motion is in the documents section of this webpage. I want my money back.. About the Licensee status. EMILY GUERIN: We actually had some at the Best Western, but thank you. I kept trying to start the interview, but he kept interrupting to show me pictures. And I knew Tom now lived in Lancaster, California, in a 5-bedroom house with only four fireplaces, stone floors and a view of the desert. And I think he was just trying to get his money back. I think its why I ended up getting married: I was on the fence, but my boyfriend at the time was convinced, and convincing. We have received emails and letters from a small number of investors (who appear to be coordinating with Antonio Garcia and Carlos Novelo, and their United Owner Investors, Inc.) objecting to the sale of the Ranch. Oh, that's great stuff right there. We do not anticipate that the criminal case will affect this case or the receivership. In this new podcast from LAist Studios, host Emily Guerin tells a story of money, power and deception. 106th field artillery; mobile homes for rent silver creek, ga; pump spare parts list; owo bot discord gems; zephyr exhaust fan turns on by itself; narcissist hoover trigger , who were L.A. originals Your Search, Emmery Muoz, 14 was!, very, very, very, very clear that you are coming for a reason 's interview relies listener... 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