Contact Information. The Receiver will file a motion for the Galileo Project land after the sale of the Ranch is complete. 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. 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. Menu & Reservations Make Reservations . 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 and Club is a scam and we are looking for an Attorney to take our case to court. The administrative action is currently pending. 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. 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. 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. 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 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. Of the four purchase offers presented for the Ranch, the Receiver has accepted an offer of $1,774,500. As such, the Receiver accepted the offer and intends to seek Court authority to sell the Galileo Project land. 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. 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. 16 Silver Saddle Ln , Rolling Hills Estates, CA 90274-2438 is currently not for sale. The allegations echo a previous scheme Maney was involved in more than 40 years ago. Silver Saddle Ranch is the premier new acreage community in Weatherford, Texas. Find Silver Saddle Ranch Houses, Townhouses, Condos, & Properties for Sale at Weichert.com Information deemed reliable but not guaranteed. The DBO licenses and regulates more than 360,000 individuals and entities that provide financial services in California. The listing is available here: https://www.loopnet.com/Listing/Rutgers-Rd-Kennedy-Blvd-California-City-CA/20743529/. Temporary Restraining Order and Appointment of a Receiver Issued by San Diego County Superior Court. A receiver was appointed to take over the company assets for the benefit of the investors. At a hearing on October 16, 2019, the San Diego Superior Court issued a Preliminary Injunction with asset freeze and confirmed the appointment of the Receiver over the Receivership Defendants (Silver Saddle Commercial Development, LP; Silver Saddle Ranch & Club, Inc.; The Galileo Commercial Property Owners Association, Inc., as well as any other entity that has conducted any business related to Defendants’ offering and selling of the Galileo Project investment contracts). 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. The civil action unsealed today seeks an injunction, penalties, and restitution for all investors. In addition, the investors were required to make recurring payments for membership in the Silver Saddle Ranch & Club and 'travel club' and other assessments and received an … On November 6, 2020, the Court held a hearing on the Receiver’s Motion to Approve Sale of the Silver Saddle Ranch and Club. 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. A sale will eliminate substantial ongoing expenses. 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. As a result, the properties continue to be marketed and listed through our real estate broker. We have also accepted an offer to purchase the Galileo Project vacant land for $775,500. Each sale is alleged to be a separate violation. 0 Phylrich St, California City, CA 93505. The Receiver will file a motion for the Galileo Project land after the sale of the Ranch is complete. The Ranch has been listed for $1,874,500. Explore a complete list of bird species observations in this area. 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 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. 5 talking about this. The Court also determined that the Receiver had shown the current offer was fair and reasonable. 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. 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. 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. [19] This case was filed in Los Angeles County Superior Courts, Stanley Mosk Courthouse located in Los Angeles, California. 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. 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. Any response must be filed before the hearing. January 17, 2020 – W-2s for Former Employees. The Receiver selected Kidder Mathews as the real estate brokers to market the Ranch property, and the listing went active on May 8, 2020. In May 2020, DBO filed an amended complaint, adding additional defendants, SS Purcho, LLC, Accelerated Assets, LLC, and Pahrump Valley Real Estate Co., LLC. Phone Numbers (310) 444-5210. 0.29 acres lot; 3 days on Zillow. Accounting records indicate the defendants deliberately comingled investor funds to make them difficult to trace. 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. What is this case about and what is the status? Welcome to that “Ranch … Based on an independent appraisal prepared for the Ranch, the Receiver believes the price is more than fair and reasonable. The Receiver determined that it is necessary to reopen the sales process and allow all interested parties to present their best and final offers. Principal. 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. There will not be a hearing on August 27, 2020 to cancel the escrows. 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. Defendants specifically targeted investors from several ethnic communities, many of whom spoke little to no English. Legal. The escrows for the Ranch and Galileo Project property have been cancelled. 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.”. 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." 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. We continue to receive inquiries and entertain offers for the properties. 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. It read: California Department of Business Oversight Sues to Stop $30 million Silver Saddle Ranch Investment Fraud. They threatened investors who later complained with lawsuits and financial harm. 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. The president of the ranch, Thomas M. Maney, built the ranch in the early 1980’s, with some help. Investors were required to contribute up to $2,000 to a pooled development fund that the defendants promised eventually would exceed $8 million. We bought 1/2 of 1/4000 of interest in the land they were selling in Kern County. 17 results. Copies of the Complaint and the TRO are available in the documents section of this webpage. A copy of the Preliminary Injunction is posted in the Documents section of this webpage. The Motion to Approve the Sale of the Ranch and related documents are in the Documents section of this webpage. 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. “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. The minute order granting the Receiver’s motion is in the documents section of this webpage. For example, to date the Receiver has paid $285,580 for water alone. The Receivership Estate will not be able to fund these costs for very long. 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 Motion was opposed by Defendant Accelerated Assets and Defendant Thomas Maney. For the five-month period of September 2019 to March 2020, water, electricity, labor, and insurance costs for the Ranch was approximately $230,000. Help. Oct 1, 2019. The Receiver has been marketing the Ranch through a real estate broker for sale since May. A copy is available the documents section of this webpage. View more property details, sales history and Zestimate data on Zillow. The current sales brochure for the Ranch and the Galileo Project can be found in the Documents section of this webpage. Customer Service; Additional Contact Information. Silver Saddle Ranch - California City CA Real Estate. The Ranch is listed for $1,874,500. For the five-month period of September 2019 to March 2020, water, electricity, labor, and insurance costs for the Ranch was approximately $230,000. 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 prospective purchaser agreed to cancel the escrows, thus eliminating the need for the Receiver’s motion and the hearing on the matter. We will provide an update after the August 27 hearing. Silver Saddle Receivership FAQs Updated as of 10/10/2019 . 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. 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. On July 24, 2020, Judge Wohlfeil denied the Motion to Intervene filed by Antonio Garcia and Carlos Novelo. Escrow was opened on July 2, 2020. After obtaining an extensive appraisal, the Receiver’s team interviewed and selected a broker, Kidder Mathews, to sell the Ranch. September 24, 2020 – Ranch and Galileo Project Property Update. 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. 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. Please note: some activities may not … As such, the Receiver intends to seek Court authority to sell the Galileo Project land. 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 … Unfortunately, the Receiver did not receive acceptable offers before the deadline. October 16, 2019 – Preliminary Injunction, Asset Freeze, and Confirmation of Receiver Order Issued by San Diego Superior Court. 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 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. The lowest water bill was $4,339 for mid-March 2020 to mid-April 2020. 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 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. The listing is available here: https://www.loopnet.com/Listing/20751-Aristotle-Dr-California-City-CA/19775266/. 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. The Receiver has received several inquiries concerning W-2s from former employees. All the parties will be provided certain due diligence materials (e.g., preliminary title report, seller disclosures, etc.) 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. Because of these ongoing costs, we have determined selling the Ranch is in the best interest of the Receivership Estate. However, before this can occur, the current escrows must be canceled. 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. After hearing argument, the Court granted the Receiver’s Motion and approved the sale of 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. 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. 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. We also offer dozens of activities from archery to horseback riding, swimming and tennis. July 17, 2020 – Results of Hearing on Receiver’s Ex Parte Application. 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. 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. 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