Help. These expenses include water, electricity, labor, and insurance costs. Customer Service; Additional Contact Information. The Receiver intends to seek Court permission to proceed with the sale. For additional details on the sale of the Ranch, please see below. The Receiver also filed a Response to the Motion to Intervene filed by Antonio Garcia and Carlos Novelo. There will not be a hearing on August 27, 2020 to cancel the escrows. The civil action unsealed today seeks an injunction, penalties, and restitution for all investors. Relief Defendants named in the Complaint are: Marian G. Ducreux; Clifford J. Reynolds; and Wayne A. Pedersen. ft. single-family home is a 3 bed, 2.0 bath property. Explore a complete list of bird species observations in this area. 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. Menu & Reservations Make Reservations . Moving forward with a sale is essential because, as we have previously reported the costs to maintain Ranch are draining the limited resources of the Receivership Estate. In May 2020, DBO filed an amended complaint, adding additional defendants, SS Purcho, LLC, Accelerated Assets, LLC, and Pahrump Valley Real Estate Co., LLC. October 16, 2019 – Preliminary Injunction, Asset Freeze, and Confirmation of Receiver Order Issued by San Diego Superior Court. Even though operating expenses have been reduced, maintaining the Ranch continues to drain the limited resources of the Receivership Estate. $48,000. The listing is available here: https://www.loopnet.com/Listing/Rutgers-Rd-Kennedy-Blvd-California-City-CA/20743529/. Oct 1, 2019. [19] Silver Saddle Ranch - California City CA Real Estate. SACRAMENTO – The Department of Business Oversight announced Oct. 1 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 & Club in California City. The property was split into 4,000 fractionalized interests to sell to investors. 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 case status is Disposed - Dismissed. In that case, the U.S. Attorney’s Office in 1977 secured a final judgment against Maney’s previous employer, Great Western Cities, to enforce an order to pay nearly $4 million to purchasers following illegal land sales, also in California City. Unfortunately, the Receiver did not receive acceptable offers before the deadline. Get directions, reviews and information for Silver Saddle Ranch & Stables in Roseburg, OR. For additional details on the sale of the Ranch, please see below. 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? If the Court grants the motion to cancel the escrows, the Receiver intends to reopen the sales process and all interested parties will have an opportunity to submit their best and final offer for the Ranch real property directly to the Receiver. Welcome to that “Ranch … Silver Saddle Receivership FAQs Updated as of 10/10/2019 . 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. 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 Galileo Project land is presently encumbered by roughly 1,700 fractional interests provided to the Galileo Project investors. CALIFORNIA CITY WAS FOUNDED BY A CZECHOSLOVAKIAN IMMIGRANT WITH A VISION TO BUILD … 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. Any response must be filed before the hearing. The Motion was opposed by Defendant Accelerated Assets and Defendant Thomas Maney. Defendants specifically targeted investors from several ethnic communities, many of whom spoke little to no English. 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. The minute order granting the Receiver’s motion is in the documents section of this webpage. Silver Saddle’s president, Thomas Maney, was involved with a similar land sales business in the 1970s. A copy of the Receiver’s First Interim Status Report is posted 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. A copy of the Preliminary Injunction is posted in the Documents section of this webpage. 1. The DBO licenses and regulates more than 360,000 individuals and entities that provide financial services in California. Starting in 2011, Maney and the other defendants allegedly targeted unsophisticated investors in ethnic communities through supermarket raffles and social media. Investors were required to contribute up to $2,000 to a pooled development fund that the defendants promised eventually would exceed $8 million. DBO also filed a motion for preliminary injunction to stop these additional corporate defendants from collecting money related to the Galileo Project. Less than an hour after signing a contract we had our doubts and were able to think it through and contacted the broker. More than 2,000 investors were persuaded to pay up to $30,000 each for part of an undeveloped, 1,000-acre patch of desert in remote Kern County, the DBO complaint alleges. 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. If your mailing address has changed, please email your new address to info@regulatoryresolutions.com with the subject line “SILVER SADDLE – W-2 ADDRESS CHANGE.”  If you did not opt out of electronic delivery, you can access your W-2 through the Insperity Premier website. The Ranch has been listed for $1,874,500. 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. ft. house located at 5 Silver Saddle Ln, Rolling Hills Estates, CA 90274 sold for $1,290,000 on Dec 29, 2015. Homes for You Price (High to Low) Price (Low to High) Newest Bedrooms Bathrooms Square Feet Lot Size. It is currently listed for $1,895,000. The hearing originally set for August 19, 2020 on the Receiver’s motion to approve the sale of real property owned by Silver Saddle Ranch & Club, Inc. has been taken off calendar. MLS# PV15243270. Of the four purchase offers presented for the Ranch, the Receiver has accepted an offer of $1,774,500. After obtaining an extensive appraisal, the Receiver’s team interviewed and selected a broker, Kidder Mathews, to sell the Ranch. 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. August 17, 2020 – Postponement of Receiver’s Motion to Cancel Escrows. The Court has rescheduled the hearing on the Receiver’s Motion from August 28, 2020 to August 19, 2020 at 1:30 p.m.  All responses and oppositions to the Receiver’s Motion must be filed with the Court by August 6, 2020. July 17, 2020 – Results of Hearing on Receiver’s Ex Parte Application. On 12/01/2017 MELINDA CERDA filed a Labor - Other Labor lawsuit against SILVER SADDLE RANCH CLUB INC. Lot / Land for sale. and given another opportunity to tour the property. The Receiver will file a motion for the Galileo Project land after the sale of the Ranch is complete. Bristol Palin Lawsuit Over Saddle Ranch Spat Dropped - West Hollywood, CA - Stephen Hanks sued the realty star for allegedly calling him a homosexual after he said her mother was a "whore." 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 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 defendants used high-pressure sales tactics and false information to sell the investments. As a result, the properties continue to be marketed and listed through our real estate broker. A sale will eliminate substantial ongoing expenses. It read: California Department of Business Oversight Sues to Stop $30 million Silver Saddle Ranch Investment Fraud. Principal. The Galileo Project property has been listed for $919,746. 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. We will seek the Court’s approval of the sale at a telephonic hearing on November 6 at 9:00 a.m. via CourtCall and, if granted, the closing should occur 60 days thereafter. 3 beds, 1.75 baths, 1936 sq. The DBO alleged that Defendants committed Silver Saddle Ranch & Stables 189 Rogers Rd Roseburg OR 97471. Silver Saddle Ranch is the premier new acreage community in Weatherford, Texas. Each sale is alleged to be a separate violation. They threatened investors who later complained with lawsuits and financial harm. Based on an independent appraisal prepared for the Ranch, the Receiver believes the price is more than fair and reasonable. The president of the ranch, Thomas M. Maney, built the ranch in the early 1980’s, with some help. silver saddle ranch class action lawsuit. The prospective purchaser agreed to cancel the escrows, thus eliminating the need for the Receiver’s motion and the hearing on the matter. The Receivership Estate will not be able to fund these costs for very long. 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. July 10, 2020 – Offer to Purchase Silver Saddle Ranch and Club. The 2,200 sq. The Galileo Project property is listed for $919,746. Silver Saddle Ranch And Club, Inc. The listing is available here: https://www.loopnet.com/Listing/20751-Aristotle-Dr-California-City-CA/19775266/. A copy is available the documents section of this webpage. As such, the Receiver intends to seek Court authority to sell the Galileo Project land. The 130 acre resort offers a wonderful getaway experience for everyone from families looking for some together time to groups needing a retreat space, couples wanting a unique weekend away and individuals looking for solitude. The Ranch is listed for $1,874,500. On September 28, the Receiver agreed to a sales price of $2,100,000 for the Ranch. I’d been reporting for over a year when the California Department of Financial Protection and Innovation filed a sweeping lawsuit against Silver Saddle, accusing it of fraud and shutting it … 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). The current sales brochure for the Ranch and the Galileo Project can be found in the Documents section of this webpage. 5 talking about this. Escrow was opened on July 2, 2020. Copies of the Complaint and the TRO are available in the documents section of this webpage. The listing is available here: https://www.loopnet.com/Listing/20751-Aristotle-Dr-California-City-CA/19775266/. I scanned it. My wife and I were scammed Silver Saddle in May 2015. 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. On March 13, 2020, the Receiver filed the first status report. Looking up the values of the 8 APNs associated with Silver Saddle and doing some math, my interest is only worth $132 and I paid over $12,000. The Receiver has filed a Motion to Approve the Sale of the Ranch and an Application to Shorten the Time for a Hearing, asking the Court to hear the Receiver’s Motion to Approve the Sale of the Ranch on July 16, 2020 at 8:30 a.m. via CourtCall. Accounting records indicate the defendants deliberately comingled investor funds to make them difficult to trace. We bought 1/2 of 1/4000 of interest in the land they were selling in Kern County. 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. 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.”. For the five-month period of September 2019 to March 2020, water, electricity, labor, and insurance costs for the Ranch was approximately $230,000. 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. We continue to receive inquiries and entertain offers for the properties. However, before this can occur, the current escrows must be canceled. For example, to date the Receiver has paid $285,580 for water alone. 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. Silver Saddle Ranch and Club is a scam and we are looking for an Attorney to take our case to court. Also, inclusion of the prospective intervenors as parties would enlarge the issues in the case because many of the approximately 3,000 investors have disparate opinions regarding disposition of the receivership estate.”  A full copy of the Court’s Minute Order is available in the Documents section of this webpage. The complaint names Thomas M. Maney of Lancaster, California as the central figure in a scheme that violated state securities laws and targeted Filipino, Chinese and Spanish-speaking communities with high-pressure sales tactics and false promises. This case was filed in Los Angeles County Superior Courts, Stanley Mosk Courthouse located in Los Angeles, California. 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. On November 6, 2020, the Court held a hearing on the Receiver’s Motion to Approve Sale of the Silver Saddle Ranch and Club. All the parties will be provided certain due diligence materials (e.g., preliminary title report, seller disclosures, etc.) Silver Saddle was placed into receivership in September 2019 following lawsuit filed by the Department of Business Oversight alleging that the defendant, Silver Saddle Commercial Development, used the ranch as a front for about $30 million in fraudulent land sale activities. View more property details, sales history and Zestimate data on Zillow. 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. August 5, 2020 – Cancellation of August 19 Hearing on Receiver’s Motion to Approve Sale of Silver Saddle Ranch and Club. “You can’t let a sales force run a development operation.”While Mendelsohn couldn’t fulfill his promises, Great Western Cities, his successor, put together a plan for the area. September 24, 2020 – Ranch and Galileo Project Property Update. 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 & Club in California City, California. With 120 acres of lawns, trees, streams and lakes relaxing is easy. Most of the investors speak English as a second language. Silver Saddle Ranch is situated in a beautiful corner of the Mojave desert. As we have previously noted, the Galileo Project investors do NOT hold an interest in the Ranch property. 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