On September 28, the Receiver agreed to a sales price of $2,100,000 for the Ranch. 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 Galileo Project land is presently encumbered by roughly 1,700 fractional interests provided to the Galileo investors. Defendants specifically targeted investors from several ethnic communities, many of whom spoke little to no English. Find Silver Saddle Ranch Houses, Townhouses, Condos, & Properties for Sale at Weichert.com Information deemed reliable but not guaranteed. The Galileo Project property is listed for $919,746. 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. 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. This case was filed in Los Angeles County Superior Courts, Stanley Mosk Courthouse located in Los Angeles, California. The highest water bill was $46,864 for mid-October 2019 to mid-November 2019. 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 … Because of these ongoing costs, we have determined selling the Ranch is in the best interest of the Receivership Estate. $48,000. 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). While we have carefully considered the concerns raised by these investors, they do not have legal standing to object to the sale of the Ranch. Upon receipt of an acceptable offer(s), the Receiver will then bring the issue before the Court, August 27, 2020 – Ranch and Galileo Project Property Update. 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. 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. As a result, the properties continue to be marketed and listed through our real estate broker. 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. Relief Defendants named in the Complaint are: Marian G. Ducreux; Clifford J. Reynolds; and Wayne A. Pedersen. October 16, 2019 – Preliminary Injunction, Asset Freeze, and Confirmation of Receiver Order Issued by San Diego Superior Court. The Court also determined that the Receiver had shown the current offer was fair and reasonable. 1 . Silver Saddle Ranch & Stables 189 Rogers Rd Roseburg OR 97471. 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. 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. 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 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. July 17, 2020 – Results of Hearing on Receiver’s Ex Parte Application. The Receiver will file a motion for the Galileo Project land after the sale of the Ranch is complete. They threatened investors who later complained with lawsuits and financial harm. View more property details, sales history and Zestimate data on Zillow. 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. Principal. Menu & Reservations Make Reservations . 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. On September 29, 2020, California City approved the Ranch for a lower water rate, which should result in lower water bills. 3 beds, 1.75 baths, 1936 sq. 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. As such, the Receiver intends to seek Court authority to sell the Galileo Project land. Importantly, the Receiver intends to request the Court authorize that the Galileo lands be conveyed with a clear title and free of the Galileo investors’ fractional interests. She told us its just a buyer's remorse and to call her the next day. 5 talking about this. On 12/01/2017 MELINDA CERDA filed a Labor - Other Labor lawsuit against SILVER SADDLE RANCH CLUB INC. 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. 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. January 17, 2020 – W-2s for Former Employees. The listing is available here: https://www.loopnet.com/Listing/Rutgers-Rd-Kennedy-Blvd-California-City-CA/20743529/. The investment was called “LandBanking Plus” or “The Galileo Project” and offered interests in a roughly 1,000-acre parcel of raw desert land in Kern County. and given another opportunity to tour the property. In addition to Maney, Silver Saddle Ranch & Club, Inc.; Silver Saddle Commercial Development, LP; and the Galileo Commercial Property Owners Association, Inc. are named as defendants. Temporary Restraining Order and Appointment of a Receiver Issued by San Diego County Superior Court. 16 Silver Saddle Ln , Rolling Hills Estates, CA 90274-2438 is currently not for sale. 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." Investors were required to contribute up to $2,000 to a pooled development fund that the defendants promised eventually would exceed $8 million. The allegations echo a previous scheme Maney was involved in more than 40 years ago. Reviews (541) 852-0384. Contact Information. 13, 2020), Amendment to Complaint Adding SS Purchco, Kvassay, Huebner (Feb. 5, 2020), Amendment to Complaint Adding Kelly Maney (Dec. 5, 2019), Amendment to Complaint Adding Maria Rosales (Dec. 5, 2019), Temporary Restraining Order (Sept. 24, 2019), 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/. The Ranch has been listed for $1,874,500. A copy is available the documents section of this webpage. Insperity, the payroll provider, will issue W-2s to former employees by January 31, 2020 via either U.S. mail or electronic delivery. In part, the ruling states that, “[t]he prospective intervenors, like all investors, will be afforded an opportunity to be heard regarding the disposition of the receivership estate through the Receiver’s notice and recommendations to the Court. Escrow was opened on September 29, and the proposed buyer has 21 days to clear contingencies. ft. house located at 5 Silver Saddle Ln, Rolling Hills Estates, CA 90274 sold for $1,290,000 on Dec 29, 2015. As we have previously noted, the Galileo Project investors do NOT hold an interest in the Ranch property. 1. A copy of the listing brochure is posted in the documents section. 0 Phylrich St, California City, CA 93505. I scanned it. Welcome to that “Ranch … For example, to date the Receiver has paid $285,580 for water alone. Phone Numbers (310) 444-5210. The listing is available here: https://www.loopnet.com/Listing/20751-Aristotle-Dr-California-City-CA/19775266/. The Motion to Approve the Sale of the Ranch and related documents are in the Documents section of this webpage. All the parties will be provided certain due diligence materials (e.g., preliminary title report, seller disclosures, etc.) The listing is available here: https://www.loopnet.com/Listing/20751-Aristotle-Dr-California-City-CA/19775266/. Silver Saddle’s president, Thomas Maney, was involved with a similar land sales business in the 1970s. 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 Silver Saddle Ranch in California City, California has been closed to the public and visitors. For additional details on the sale of the Ranch, please see below. Administrative actions filed simultaneously requested penalties and an order that Maney, Silver Saddle Ranch and the other entities offer to repurchase the investments. A telephonic hearing has been set for August 27, 2020 at 9:00 a.m. to allow for full briefing on the matter. A copy of the Receiver’s First Interim Status Report is posted in the Documents section of this webpage. 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. A copy of the Preliminary Injunction is posted in the Documents section of this webpage. The Court took into account the Receiver’s concerns and recommendations, as well as those of the other interested parties. The Receiver will file a motion for the Galileo Project land after the sale of the Ranch is complete. The escrows for the Ranch and Galileo Project property have been cancelled. 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. “Thousands of hard-working Californians invested their life savings in this scam,” said Commissioner of Business Oversight Manuel P. Alvarez. MLS# PV15243270. 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. The Motion was opposed by Defendant Accelerated Assets and Defendant Thomas Maney. Silver Saddle Receivership FAQs Updated as of 10/10/2019 . 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. Most of the investors speak English as a second language. The deadline for bids on the Ranch and the Galileo Project properties was September 14, 2020 at 10:00 a.m. However, before this can occur, the current escrows must be canceled. 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. The DBO licenses and regulates more than 360,000 individuals and entities that provide financial services in California. The lowest water bill was $4,339 for mid-March 2020 to mid-April 2020. 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. On March 13, 2020, the Receiver filed the first status report. 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. On November 6, 2020, the Court held a hearing on the Receiver’s Motion to Approve Sale of the Silver Saddle Ranch and Club. Each sale is alleged to be a separate violation. The civil action unsealed today seeks an injunction, penalties, and restitution for all investors. The Receiver has been marketing the Ranch through a real estate broker for sale since May. The listing is available here: https://www.loopnet.com/Listing/Rutgers-Rd-Kennedy-Blvd-California-City-CA/20743529/. Other Phone (818) 325-3930. 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. The current sales brochure for the Ranch and the Galileo Project can be found in the Documents section of this webpage. The Galileo Project property has been listed for $919,746. Silver Saddle Ranch and Club is a scam and we are looking for an Attorney to take our case to court. View This three-bedroom home is listed for $1,695,000 in Rolling Hills Estates, Calif. pictures and other 8 Luxury Ranch-Style Homes For Sale photos at ABC News In sum, the Receiver (1) completed the efforts to vacate the Burbank office and relocate the business records to the Ranch (which defendants had in process at the time of the TRO); (2) retained a former employee to be the full-time caretaker of the Ranch; (3) secured insurance for the Ranch; and (4) continued to minimize operating expenses at the Ranch. The DBO alleges that Defendants’ sale of fractionalized interests in vacant desert land near California City, California violated California securities laws because such sales constituted the sale of unqualified or unregistered securities and were based on fraudulent and deceptive misrepresentations. 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 also offer dozens of activities from archery to horseback riding, swimming and tennis. they made a lot of promises and kept none. 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 Receiver’s ex parte application must be filed with the Court prior to the hearing. Help. 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. It read: California Department of Business Oversight Sues to Stop $30 million Silver Saddle Ranch Investment Fraud. This will ensure the sales process is healthy and will maximize the sales price, which is in the best interest of the Receivership Estate. Posted at 12:28h in Uncategorized by 0 Likes. 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.”. 0.29 acres lot; 3 days on Zillow. 17 results. 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. The defendants used high-pressure sales tactics and false information to sell the investments. Accounting records indicate the defendants deliberately comingled investor funds to make them difficult to trace. Bids for the Ranch are due on September 14, 2020 by 10:00 a.m. The Receiver also filed a Response to the Motion to Intervene filed by Antonio Garcia and Carlos Novelo. Please note: some activities may not … Silver Saddle Ranch is in an oasis of the Mojave Desert and is perfect for rest or recreation. 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. 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 Court denied the Receiver’s 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. These expenses include water, electricity, labor, and insurance costs. Silver Saddle Ranch and Club is a scam and we are looking for an Attorney to take our case to court. The business operations in Burbank have been terminated. 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. Share. 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. The Receivership Estate will not be able to fund these costs for very long. 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. 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. As such, while we have carefully considered the concerns raised by these investors, they do not have legal standing to object to the sale. We have also accepted an offer to purchase the Galileo Project vacant land for $775,500. [19] Silver Saddle Ranch is the premier new acreage community in Weatherford, Texas. 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. 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. Lot / Land for sale. Of the four purchase offers presented for the Ranch, the Receiver has accepted an offer of $1,774,500. After hearing argument, the Court granted the Receiver’s Motion and approved the sale of the Ranch. ft. single-family home is a 3 bed, 2.0 bath property. 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. It is currently listed for $1,895,000. July 10, 2020 – Offer to Purchase Silver Saddle Ranch and Club. “We want to make sure no one else is harmed and to recapture as much of the investors’ money as possible.”. The Receiver determined that it is necessary to reopen the sales process and allow all interested parties to present their best and final offers. September 24, 2020 – Ranch and Galileo Project Property Update. The California Department of Business Oversight (“DBO”) filed its civil lawsuit on September 9, 2019 against Defendants. The Galileo Project land is presently encumbered by roughly 1,700 fractional interests provided to the Galileo Project investors. After obtaining an extensive appraisal, the Receiver’s team interviewed and selected a broker, Kidder Mathews, to sell the Ranch. After completing this process, the Receiver will select the best offer and submit it to the Court for consideration. silver saddle ranch class action lawsuit. 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? Homes for You Price (High to Low) Price (Low to High) Newest Bedrooms Bathrooms Square Feet Lot Size. Silver Saddle Ranch - California City CA Real Estate. 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. Acting on a civil complaint filed under seal, San Diego Superior Court Judge Joel R. … August 5, 2020 – Cancellation of August 19 Hearing on Receiver’s Motion to Approve Sale of Silver Saddle Ranch and Club. We will provide an update after the August 27 hearing. 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. The investments were not qualified or approved by the state as required and were sold with “blatant misrepresentations” and “deliberate omission” of material information, the complaint alleges. Based on an independent appraisal prepared for the Ranch, the Receiver believes the price is more than fair and reasonable. The current sales brochure for the Ranch and the Galileo Project can be found in the Documents section of this webpage. The prospective purchaser agreed to cancel the escrows, thus eliminating the need for the Receiver’s motion and the hearing on the matter. There will not be a hearing on August 27, 2020 to cancel the escrows. 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. 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. The president of the ranch, Thomas M. Maney, built the ranch in the early 1980’s, with some help. The 2,200 sq. We continue to receive inquiries and entertain offers for the properties. Get directions, reviews and information for Silver Saddle Ranch & Stables in Roseburg, OR. Any response must be filed before the hearing. Join us for our annual Holiday Hike at Silver Saddle Ranch this Saturday, Dec. 12 at 11 a.m. We will hike around and learn about the history of the Holidays. Frequently Asked Questions (FAQs) (Sept. 15, 2020), Receiver's 3rd Interim Status Report (Jan. 14, 2021), Minute Order Granting Receiver’s Motion to Approve Sale of Ranch (Nov. 6, 2020), Receiver's 2nd Motion to Approve Sale of Ranch (Oct. 13, 2020), Receiver's 2nd Interim Status Report (Sept. 15, 2020), Silver Saddle Resort Sales Brochure (August 24, 2020), Galileo Parcels Sales Brochure (August 24, 2020), Receiver's Ex Parte Appl'n for Order Cancelling Escrows (Aug. 5, 2020), Preliminary Injunction re Accelerated Assets; SS Purchco; and Pahrump Valley Real Estate Co. (July 24, 2020), Minute Order re Motion to Intervene and for Preliminary Injunction (July 24, 2020), Moody Decl. 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. Silver Saddle Ranch is a SCAM BUSINESS, They are selling a property worth $20,000 but the actual value of the Lot is only $500.This is not a joke … On July 24, 2020, Judge Wohlfeil denied the Motion to Intervene filed by Antonio Garcia and Carlos Novelo. Oct 1, 2019. A receiver was appointed to take over the company assets for the benefit of the investors. 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. Silver Saddle Ranch is situated in a beautiful corner of the Mojave desert. Less than an hour after signing a contract we had our doubts and were able to think it through and contacted the broker. This home was built in 1953 and last sold on 6/12/2015 for $1,570,000. Maney opposed the sale because he wants to propose a joint venture in which the Ranch is included in an agreement between the investors and a third party, Rick Jones. 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