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/. 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. I realized I had seen Ben as just one thing: a victim. The Motion details the proposed distribution process. I mean, its the way I live my life.. What if I was wrong? Just I don't want to get like sweat stains before we even get there. September 24, 2020 Ranch and Galileo Project Property Update. 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. Silver Saddle Commercial Development, LP, et al. He didnt need to, because, according to him, hed done nothing wrong. 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. The next new voices echoed off solar panels are in norco business development company? Many of K-pop's greatest acts are actually comprised of people who grew up outside of Korea. Birders often walk around the ranch, looking for sparrows, goldfinch, and other local species in the trees. Should the Court order the sale to go forward, the Receiver intends to recommend to the Court that the sale proceeds be used to fund an investor distribution. But you know, at the other side, I actually, just, didnt want to make him feel so bad because he did invest a lot of his money and he really believed in this endeavor. August 5, 2020 Cancellation of August 19 Hearing on Receivers Motion to Approve Sale of Silver Saddle Ranch and Club. The relevant documents can be accessed at the links below or by clicking on the documents to the right. Consumers had filed almost three dozen complaints with various agencies: the Kern County District Attorney, the California Department of Real Estate, even the Federal Trade Commission, but the company continued to operate until 2019. On May 13, 2021, the Receiver asked the Court for permission to proceed with the sale of the land to the solar energy company. MICHAEL VIERNES: It usually never floods here. The Receiver selected Kidder Mathews as the real estate brokers to market the Ranch property, and the listing went active on May 8, 2020. I think its why I ended up getting married: I was on the fence, but my boyfriend at the time was convinced, and convincing. Based upon an independent appraisal received on the Galileo Project land, the Receiver believes this offer is fair, reasonable and at market value for the property. This car is no good. He spent a free weekend there in 2017, and ended up forking over $30,000 for a confusing, desert-land investment product. I mean, there are a lot of people like that in California. MICHAEL VIERNES: Sorry its kind of flooded all over the place. And said he immediately got a weird vibe from Silver Saddle. That's because I'm sweating and I need to air out my armpit. On January 14, 2022, the Court granted the Receivers request. He knew in order to get his money back, his friends had to buy in. TOM MANEY: We never had any, any problems. 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. . Definitely. EMILY GUERIN: Um, do you see how I have my left arm up? EMILY GUERIN: Ken, being Ken, wanted to talk exclusively about the issue that concerned him: his big FTC settlement from 1977. The Galileo Project property is listed for $919,746. How else could something this bad have gone on for so long? DEBBIE NICASTRO: I, I don't know if I agree with that. On March 4, 2022, the Receiver filed a Motion to Approve the Sale of the Galileo Project Land. 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 Receiver will reply to any objections and the Court will rule. It was quiet. In May 2020, DBO filed an amended complaint, adding additional defendants, SS Purcho, LLC, Accelerated Assets, LLC, and Pahrump Valley Real Estate Co., LLC. 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. 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. list of new york state high school baseball champions. DEBBIE NICASTRO: I'll tell you right now. 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. And I think they convinced him and his friends to lure even more people into their web. Investors also were required to make recurring payments for membership in the Silver Saddle travel club and received an option to purchase the Silver Saddle Ranch & Club for $500,000. Home > 2022 > June > 10 > Uncategorized > marian ducreux silver saddle. Then we turned left on California City Boulevard, and we headed back to L.A., too tired to talk. For the latest national news from NPR and our live radio broadcast, visit LAist.com/radio. Investors will have 90 days to cash the checks. 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. 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. I knew Tom and his business partners had bought a lot of land from Great Western Cities after it went bankrupt in 1984. He told his director of operations, Debbie Nicastro, that he thought we were going to make Silver Saddle look bad. I think he was self-interested. BEN PEREZ: I dont know what to do, I been doing research since day one and, no one, you know, no one can help me. A copy of the Preliminary Injunction is posted in the Documents section of this webpage. A copy of the listing brochure is posted in the documents section. Please continue to check the Receivers website for periodic updates. EMILY GUERIN: Tom made me feel like everything was crystal clear. On March 16, 2023, the Superior Court in the receivership case held a status conference to discuss the status of the criminal proceeding. After completing this process, the Receiver will select the best offer and submit it to the Court for consideration. Just 10 people. This will ensure the sales process is healthy and will maximize the sales price, which is in the best interest of the Receivership Estate. Hey, good seeing you too. Instead, on August 5, 2020, the Receiver filed an ex parte application for an order cancelling escrows for Silver Saddle Ranch and the Galileo parcels, which will be heard telephonically via CourtCall on August 11, 2020 at 8:30 a.m. All responses and oppositions to the Receivers ex parte application must be filed with the Court prior to the hearing. EMILY GUERIN: They can eliminate as much of these problems as Im mentioning. That went wrong. View Marian Ducreux's profile on LinkedIn, the world's largest professional community. 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. If somebody said something about her that she felt was defamatory and false, I guess she has a right to do it. We do not anticipate that the criminal case will affect this case or the receivership. The Galileo Project land is presently encumbered by roughly 1,700 fractional interests provided to the Galileo Project investors. The Court ordered that the Receiver cannot distribute any money to investors until the conclusion of the case. We saw the model homes in that weird half-built neighborhood. What if they were wrong? DEBBIE NICASTRO: Its a requirement of you coming. Forever. marian ducreux silver saddle. Instead, each investor will receive a share of the proceeds proportionate to his or her investment in the Galileo Project (a pro rata share). 4. The Final Determination of Investor Claims will be used to calculate the pro rata share of any distribution ordered by the Court. This is a text message Ben later received from Marian Ducreux, the Silver Saddle salesperson who sold him the land. Both purchases needed to be approved by the Court before they could proceed. 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. But Tom didnt think it applied to Silver Saddle. 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. Most of the investors speak English as a second language. Defendants specifically targeted investors from several ethnic communities, many of whom spoke little to no English. 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. If youd like to quote this podcast, please check the corresponding audio first. $22.00. It wasnt. MICHAEL VIERNES: Yeah, he wasn't his normal self you know, his relaxed state. It had been going on for years. 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. 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. And we, we, some of the primary documents we translated into their languages. You know, we've all gone through that. TOM MANEY: I, I don't know if that's true or not. 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. 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