Silver Saddle Ranch and Club (Ranch), located at 20751 Aristotle Drive, California City, California 93505. Our complaint services are free and our team of expert mediators will assist in resolving complaints with businesses. Notice of this filing will be provided to investors by email and via posting on the receivership website. The blue jellyfish-like creatures were swept by the winds of California's recent storms. It had been going on for years. Case Details Parties Documents Dockets Case Details 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. Right now, the case is set for trial in September 2022. In Silver Saddle's case, approximately 1,000 acres of empty desert on the outskirts of California City, divided into 4,000 shares. Our news is free on LAist. As such, the Receiver intends to seek Court authority to sell the Galileo Project land. SILVER SADDLE TARGETED A VERY SPECIFIC TYPE OF CUSTOMER: LATINO, FILIPINO AND CHINESE PEOPLE, MOST OF WHOM LIVED IN CALIFORNIA AND OFTEN SPOKE ENGLISH AS A SECOND LANGUAGE. During the sales pitch, potential customers were divided up by ethnicity and paired with a salesperson who spoke their primary language. Each investor who submitted a challenge has been contacted by mail and email explaining the Receivers review and determination of their challenge. At that time, you must provide copies (please do NOT send original documents) of all the information and documents supporting your challenge, for example bank statements and the front and back of cancelled checks. 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 California Department of Business Oversight ("DBO") filed its civil lawsuit on September 9, 2019 against Defendants. If the DFPI is successful at trial or the parties reach a settlement, then the Receiver will seek permission . The Court ordered that the Receiver cannot distribute any money to investors until the conclusion of the case. There will not be a hearing on August 27, 2020 to cancel the escrows. Silver Saddle Resort was part of an investigation and lawsuit filed by the California Department of Business Oversight in 2019 that looked into fraudulent land sale activities in California City. PDF MARY ANN SMITH [Exempt from filing fees pursuant - The Department of This would mean that after the sale, the investors would no longer have an interest in the Galileo Project Land. The last 5 digits of the account number represent the investors unit number. The Final Determination of Investor Claims will be used to calculate the pro rata share of any distribution ordered by the Court. Silver Saddle sale approved | News | desertnews.com If you're enjoying this article, you'll love my daily morning newsletter, How To LA. The contract had no cancellation period, and buyers were required to pay $41 a month in membership fees to Silver Saddle -- indefinitely. The Receiver will use proceeds from the sale to pay expenses of the Receivership Estate and provide a first distribution to Silver Saddle investors. Accordingly, he filed a Motion for Approval of Proposed Distribution Method and Procedures with the Court asking for permission to make a first distribution. But much of the land they bought is nearly worthless. Ripoff Report | Silver Saddle Review - California, City, California My 8-episode investigative podcast, California City, seeks to answer that question, as well as a bunch of others that came up over the course of my reporting. All the defendants have entered not guilty pleas. Relief Defendants named in the Complaint are: Marian G. Ducreux; Clifford J. Reynolds; and Wayne A. Pedersen.

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