Legal. 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. Accounting records indicate the defendants deliberately comingled investor funds to make them difficult to trace. 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. 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. Welcome to that “Ranch … Any response must be filed before the hearing. 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. We have also accepted an offer to purchase the Galileo Project vacant land for $775,500. We also offer dozens of activities from archery to horseback riding, swimming and tennis. 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. There will not be a hearing on August 27, 2020 to cancel the escrows. 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. Instead Judge Wohlfeil treated the ex parte application as an application for order shortening time, which he granted. The Receiver has been marketing the Ranch through a real estate broker for sale since May. The 2,200 sq. The California Department of Business Oversight (“DBO”) filed its civil lawsuit on September 9, 2019 against Defendants. Silver Saddle Ranch and Club is a scam and we are looking for an Attorney to take our case to court. 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. 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. 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. Less than an hour after signing a contract we had our doubts and were able to think it through and contacted the broker. Reviews (541) 852-0384. Other Phone (818) 325-3930. The judge’s order can be found here (PDF). August 5, 2020 – Cancellation of August 19 Hearing on Receiver’s Motion to Approve Sale of Silver Saddle Ranch and Club. 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). This case was filed in Los Angeles County Superior Courts, Stanley Mosk Courthouse located in Los Angeles, California. MLS# PV15243270. 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. ft. house located at 5 Silver Saddle Ln, Rolling Hills Estates, CA 90274 sold for $1,290,000 on Dec 29, 2015. 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. 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 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. On 12/01/2017 MELINDA CERDA filed a Labor - Other Labor lawsuit against SILVER SADDLE RANCH CLUB INC. 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. $48,000. On March 13, 2020, the Receiver filed the first status report. 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. Acting on a civil complaint (PDF) filed under seal, San Diego Superior Court Judge Joel R. Wohlfeil granted the DBO’s request for a temporary restraining order barring further land sales, a freeze of all related assets and the appointment of a receiver to take possession of Silver Saddle Ranch and two affiliated entities, Silver Saddle Commercial Development and the Galileo Commercial Property Owners Association. 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 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. The prospective purchaser agreed to cancel the escrows, thus eliminating the need for the Receiver’s motion and the hearing on the matter. In May 2020, DBO filed an amended complaint, adding additional defendants, SS Purcho, LLC, Accelerated Assets, LLC, and Pahrump Valley Real Estate Co., LLC. What is this case about and what is the status? 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 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. Based upon an independent appraisal prepared for the Galileo Project land, the Receiver believes this offer is fair, reasonable, and at or above market value for the property. The Receivership Estate will not be able to fund these costs for very long. September 24, 2020 – Ranch and Galileo Project Property Update. 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. Oct 1, 2019. 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. The DBO alleged that Defendants committed Find Silver Saddle Ranch Houses, Townhouses, Condos, & Properties for Sale at Weichert.com Information deemed reliable but not guaranteed. 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. The highest water bill was $46,864 for mid-October 2019 to mid-November 2019. 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. The deadline for bids on the Ranch and the Galileo Project properties was September 14, 2020 at 10:00 a.m. It read: California Department of Business Oversight Sues to Stop $30 million Silver Saddle Ranch Investment Fraud. The listing is available here: https://www.loopnet.com/Listing/20751-Aristotle-Dr-California-City-CA/19775266/. 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. Please note: some activities may not … 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. CALIFORNIA CITY WAS FOUNDED BY A CZECHOSLOVAKIAN IMMIGRANT WITH A VISION TO BUILD … 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. A copy of the listing brochure is posted in the documents section. Silver Saddle Ranch & Stables 189 Rogers Rd Roseburg OR 97471. The minute order granting the Receiver’s motion is in the documents section of this webpage. The Ranch has been listed for $1,874,500. The current sales brochure for the Ranch and the Galileo Project can be found in the Documents section of this webpage. A receiver was appointed to take over the company assets for the benefit of the investors. 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.”. The civil action unsealed today seeks an injunction, penalties, and restitution for all investors. DBO also filed a motion for preliminary injunction to stop these additional corporate defendants from collecting money related to the Galileo Project. Explore a complete list of bird species observations in this area. 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? Get directions, reviews and information for Silver Saddle Ranch & Stables in Roseburg, OR. 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. Silver Saddle’s president, Thomas Maney, was involved with a similar land sales business in the 1970s. I scanned it. 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. The allegations echo a previous scheme Maney was involved in more than 40 years ago. 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. Department of Business Oversight Sues to Stop $30 million Silver Saddle Ranch Investment Fraud. For additional details on the sale of the Ranch, please see below. 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. Temporary Restraining Order and Appointment of a Receiver Issued by San Diego County Superior Court. The Galileo Project property has been listed for $919,746. Silver Saddle Ranch is situated in a beautiful corner of the Mojave desert. The business operations in Burbank have been terminated. 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. Silver Saddle Ranch And Club, Inc. 16 Silver Saddle Ln , Rolling Hills Estates, CA 90274-2438 is currently not for sale. The Galileo Project land is presently encumbered by roughly 1,700 fractional interests provided to the Galileo investors. Even though operating expenses have been reduced, maintaining the Ranch continues to drain the limited resources of the Receivership Estate. 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 … A copy is available the documents section of this webpage. 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. As such, the Receiver intends to seek Court authority to sell the Galileo Project land. The Receiver determined that it is necessary to reopen the sales process and allow all interested parties to present their best and final offers. 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. 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." 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. The listing is available here: https://www.loopnet.com/Listing/Rutgers-Rd-Kennedy-Blvd-California-City-CA/20743529/. The Receiver selected Kidder Mathews as the real estate brokers to market the Ranch property, and the listing went active on May 8, 2020. silver saddle ranch class action lawsuit. 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. [19] Most of the investors speak English as a second language. 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. they made a lot of promises and kept none. Each sale is alleged to be a separate violation. Bids for the Ranch are due on September 14, 2020 by 10:00 a.m. 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. A copy of the Preliminary Injunction is posted in the Documents section of this webpage. These expenses include water, electricity, labor, and insurance costs. 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. 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