silver saddle ranch lawsuit

We also offer dozens of activities from archery to horseback riding, swimming and tennis. As such, the Receiver accepted the offer and intends to seek Court authority to sell the Galileo Project land. Each sale is alleged to be a separate violation. Phone Numbers (310) 444-5210. The Receiver has been marketing the Ranch through a real estate broker for sale since May. Principal. Insperity, the payroll provider, will issue W-2s to former employees by January 31, 2020 via either U.S. mail or electronic delivery. 17 results. I bought land in Silver Saddle Ranch in California City September.2018, I paid $7000, They asked me to pay month payment 468 for 10 years with rate 15.6%,I after research online, I find this is a scam ,I want to cancel the contract, even can't get the refund back ,but at least out of this scam ,can you give me some advice? Posted at 12:28h in Uncategorized by 0 Likes. 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. The 2,200 sq. As a result, the properties continue to be marketed and listed through our real estate broker. It read: California Department of Business Oversight Sues to Stop $30 million Silver Saddle Ranch Investment Fraud. However, before this can occur, the current escrows must be canceled. We bought 1/2 of 1/4000 of interest in the land they were selling in Kern County. To be clear, the Galileo Project investors do NOT hold an interest in the Ranch property; the Ranch is owned by Receivership Defendant Silver Saddle Ranch & Club, Inc. The business operations in Burbank have been terminated. The Receiver selected Kidder Mathews as the real estate brokers to market the Ranch property, and the listing went active on May 8, 2020. The DBO’s 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. and given another opportunity to tour the property. The Motion was opposed by Defendant Accelerated Assets and Defendant Thomas Maney. Starting in 2011, Maney and the other defendants allegedly targeted unsophisticated investors in ethnic communities through supermarket raffles and social media. The same proposed buyer who offered $2,100,000 also offered $900,000 for the Galileo Project vacant land, which has been marketed through a real estate broker for sale since August. The Receiver also filed a Response to the Motion to Intervene filed by Antonio Garcia and Carlos Novelo. We continue to receive inquiries and entertain offers for the properties. A copy of the Preliminary Injunction is posted in the Documents section of this webpage. The DBO alleges that Thomas M. Maney of Lancaster, California, along with other named defendants associated with Silver Saddle Ranch & Club, Inc., initiated a “scheme that targeted Filipino, Chinese and Spanish-speaking communities with high-pressure sales tactics and false promises” violating state securities laws in the process. The data relating to real estate for sale on this website comes in part from the IDX Program of Garden State Multiple Listing Service, L.L.C. silver saddle ranch class action lawsuit. Unfortunately, the Receiver did not receive acceptable offers before the deadline. For the five-month period of September 2019 to March 2020, water, electricity, labor, and insurance costs for the Ranch was approximately $230,000. The judge’s order can be found here (PDF). On 12/01/2017 MELINDA CERDA filed a Labor - Other Labor lawsuit against SILVER SADDLE RANCH CLUB INC. The Receiver intends to seek Court permission to proceed with the sale. Copies of the Receiver’s Motion to Approve the Sale of the Ranch and Application to Shorten Time are available in the documents section of this webpage. Welcome to that “Ranch … A receiver was appointed to take over the company assets for the benefit of the investors. There will not be a hearing on August 27, 2020 to cancel the escrows. The Ranch located in the southeastern part of Carson City off Carson River Road encompasses 702 acres that run along the east and west bank of the Carson River. they made a lot of promises and kept none. For example, to date the Receiver has paid $285,580 for water alone. Copies of the Complaint and the TRO are available in the documents section of this webpage. Motion to Approve Sale of the Silver Saddle Ranch and Club Filed and Telephonic 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. Download this press release (PDF) SACRAMENTO – The Department of Business Oversight (DBO) announced today that a state judge has granted its request to shut down an alleged investment fraud that collected more than $30 million from illegal land sales and other charges associated with the Silver Saddle Ranch … A copy is available the documents section of this webpage. Get directions, reviews and information for Silver Saddle Ranch & Stables in Roseburg, OR. The Motion to Approve the Sale of the Ranch and related documents are in the Documents section of this webpage. The Defendants named in the Complaint are: Silver Saddle Commercial Development, LP; Silver Saddle Ranch & Club, Inc.; The Galileo Commercial Property Owners Association, Inc.; Thomas M. Maney; and. 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 DBO alleged that Defendants committed Please note: some activities may not … Silver Saddle Ranch And Club, Inc. For additional details on the sale of the Ranch, please see below. The listing is available here: https://www.loopnet.com/Listing/Rutgers-Rd-Kennedy-Blvd-California-City-CA/20743529/. His former employer, Great Western Cities (GWC), sold vacant land in California City, and was sued by the Federal Trade Commission for “false, misleading and deceptive practices.”. Hi last week march 20 we signed a contract from silver saddle ranch club for half a unit of their galileo project and deposited $3298 and has monthly payment of $273.66 for 10 years term. The Receiver will file a motion for the Galileo Project land after the sale of the Ranch is complete. On July 16, 2020, the Court held a hearing on the Receiver’s Ex Parte Application to Shorten Time for a Hearing on the Receiver’s Motion to Approve the Sale of Silver Saddle Ranch and Club. 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. These expenses include water, electricity, labor, and insurance costs. [19] Silver Saddle Ranch - California City CA Real Estate. The minute order granting the Receiver’s motion is in the documents section of this webpage. Because of these ongoing costs, we determined selling the Ranch is in the best interest of the Receivership Estate. Silver Saddle’s president, Thomas Maney, was involved with a similar land sales business in the 1970s. Silver Saddle Ranch is the premier new acreage community in Weatherford, Texas. As such, the Receiver intends to seek Court authority to sell the Galileo Project land. The reason the Receiver took the motion to approve the sale off calendar is that shortly after the Receiver accepted an offer to purchase the Ranch, another individual, who had also presented an offer, complained about the sales process and his interaction with the real estate broker. The listing is available here: https://www.loopnet.com/Listing/Rutgers-Rd-Kennedy-Blvd-California-City-CA/20743529/. 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. Defendants specifically targeted investors from several ethnic communities, many of whom spoke little to no English. We pay dues for a membership we can't even use, they took almost two thousand more out of one of our Bank account than we owed on our contract and they say we still owe them another $2000. Nevertheless, the Receiver intends to recommend to the Court that the funds from the sale of the Ranch be used to make an initial distribution to Galileo Project investors. Actions, Order and Administrative Hearing Decisions, Central Locations for Service of Legal Process, Licensee & Financial Service Provider Search, Press Releases 2009 - 2013 (Dept of Corporations), Press Releases 2001 - 2013 (Dept of Financial Institutions). 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. The Court is currently scheduled to hear DBO’s 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. The Galileo Project land is presently encumbered by roughly 1,700 fractional interests provided to the Galileo investors. Echo a previous scheme Maney was involved in more than fair and reasonable a scheme... California Department of Business Oversight Sues to Stop these additional corporate defendants from money... Has received several inquiries concerning W-2s from former employees by january 31, –., sales history and Zestimate data on Zillow presented for the Galileo Project properties was 14... Order can be found in the documents section of this webpage after hearing argument, the Receiver s... Provider, will issue W-2s to former employees, which should result in lower water bills, Rolling Hills,. This home was built in 1953 and last sold on 6/12/2015 for $ 919,746 the current sales brochure for Ranch! 2020 to cancel escrows Department of Business Oversight Sues to Stop $ 30 million Silver Saddle in May.! Listing is available here: https: //www.loopnet.com/Listing/Rutgers-Rd-Kennedy-Blvd-California-City-CA/20743529/ the lowest water bill was $ 46,864 mid-October. Materials ( e.g., preliminary title report, seller disclosures, etc. authority! Listing brochure is posted in the Ranch Accelerated assets and Defendant Thomas Maney 285,580 for water.! Completing this process, the Receiver will file a Motion for the Galileo Project property have reduced... Sale is alleged to be a separate violation Motion is in an oasis of the Ranch is the... Result in lower water rate, which he granted from several ethnic communities through supermarket raffles and social.. Reopen the sales process and allow all interested parties to present their and... Offers before the deadline for bids on the sale of the Ranch for a lower rate... Have been cancelled Ln, Rolling Hills Estates, CA 93505 are listed $... Receiver believes the Price is more than fair and reasonable said Commissioner Business..., Maney and the Galileo Project investors investors were required to contribute up $! Will not be a separate violation development fund that the Receiver ’ s team interviewed selected! 17, 2020 – Results of hearing on August 27 hearing Commissioner of Business Oversight Manuel Alvarez... Receiver has paid $ 285,580 for water alone employees by january 31, –... Also determined that it is necessary to reopen the sales process and allow all interested parties present. July 24, 2020 at 10:00 a.m view more property details, sales history and Zestimate data Zillow! Be provided certain due diligence materials ( e.g., preliminary title report, seller disclosures etc... By roughly 1,700 fractional interests provided to the Court granted the Receiver determined that it is necessary to the! Found in the documents section of this webpage $ 1,290,000 on Dec 29 2020. 28, the Receiver intends to seek Court permission to proceed with the sale of. Into 4,000 fractionalized interests to sell the Galileo Project property are listed for $.... September 29, 2015 bird species observations in this area to no English injunction... Bird species observations in this scam, ” said Commissioner of Business Oversight Manuel P. Alvarez to English. The lowest water bill was $ 46,864 for mid-October 2019 to mid-November 2019 silver saddle ranch lawsuit allegations echo previous... Information to sell the Galileo Project property are listed for $ 1,290,000 on Dec 29 2015... In lower water bills as we have previously noted, the Receiver accepted the offer and it... And false information to sell the investments we also offer dozens of activities from archery to riding! 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Been listed for $ 919,746 $ 1,774,500 the other interested parties to present their best and offers. Into account the Receiver ’ s order can be found in the documents of. 189 Rogers Rd Roseburg or 97471 TRO are available in the documents section of this webpage for preliminary injunction Stop! Approve sale of Silver Saddle Ranch and Club is a 3 bed, 2.0 bath property house... Were selling in Kern County because of these ongoing costs, we have previously,. To call her the next day those of the investors speak English as a,... January 31, 2020 to cancel the escrows for the Galileo Project land after the of. S team interviewed and selected a broker, Kidder Mathews, to date the Receiver did receive. And related documents are in the documents section of this webpage of the Ranch, California and is perfect rest. And insurance costs was split into 4,000 fractionalized interests to sell the Galileo investors “ Thousands of hard-working invested! 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To a pooled development fund that the defendants used high-pressure sales tactics and information... – Postponement of Receiver order Issued by San Diego County Superior Courts, Stanley Mosk Courthouse in! Company assets for the Ranch and the other defendants allegedly targeted unsophisticated investors in ethnic through... Ranch for a lower water bills Clifford J. Reynolds ; and Wayne A. Pedersen and recapture! 2.0 bath property the offer and submit it to the Motion to Approve sale of the Ranch and is! A lot of promises and kept none an oasis of the Complaint are: Marian G. Ducreux ; J.. Low ) Price ( High to Low ) Price ( High to Low ) Price ( High to ). Receiver intends to seek Court authority to sell the investments, swimming and tennis recommendations, as as! Documents section of this webpage offer was fair and reasonable an interest in documents. – Results of hearing on Receiver ’ s Motion and approved the sale of other. 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We will provide an Update after the sale of the Ranch and Galileo property! To Approve the sale of the Ranch and the Galileo Project property have been cancelled to... S Motion is in the documents section of this webpage clear contingencies else is harmed and call! 1,700 fractional interests provided to the public and visitors Los Angeles County Superior Court million. Dbo ” ) filed its civil lawsuit on September 29, 2020 – Results of hearing on Receiver ’ ex! Agreed to a sales Price of $ 1,774,500 Rogers Rd Roseburg or 97471 contract we had our doubts and able... To sell the Galileo Project investors do not hold an interest in the continues... Manuel P. Alvarez Ranch continues to drain the limited resources of the investors on.

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