Silver Saddle lured prospective buyers from around California with the promise of a free weekend at the ranch. New potential buyer found for Silver Saddle Ranch, BY JACK BARNWELL The ranch and the property were initially marketed in May under real estate company Kidder Matthews, with Teresia Knight and Greg Myers as the listing agents. The Receiver will continue to update this website with any developments as they occur. In other words, no investor will receive the full amount of his or her claim. In 1984, the company declared bankruptcy. Mendelsohn advertised the program in major newspapers around the West, and it was wildly successful. On July 16, 2020, the Court held a hearing on the Receivers Ex Parte Application to Shorten Time for a Hearing on the Receivers Motion to Approve the Sale of Silver Saddle Ranch and Club. But in an interview, Maney told me he and Silver Saddle have nothing in common with Nat Mendelsohn or Great Western Cities. 2. If $100,000 is distributed, then Investor A would get $3,000 and Investor B would get $5,000. 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 request to have the sale approved will be filed separately. According to the receiver, the resort operated at a loss that eventually hit $1.5 million a year but continued to operate on subsidies from other related business the defendants operated. The current sales brochure for the Ranch and the Galileo Project can be found in the Documents section of this webpage. The agency accused Silver Saddle, Maney, Ducreux and other defendants of securities fraud and selling unqualified securities. AFTER GREAT WESTERN CITIES WENT BANKRUPT, A FORMER EMLOYEE QUIETLY CONTINUED SELLING VACANT LAND IN CALIFORNIA CITY. "A Treasure in the Desert!" Located in the high desert at the foot of the majestic. March 29, 2023 Receivership Case Remains Stayed. This would mean that after the sale, the investors would no longer have an interest in the Galileo Project Land. The Judges overseeing this case are Clark, Thomas S., Schuett, Stephen D. and Friedman - Retired, Gary T.. According to a written declaration from Knight, the listing agent, she and her partner attempted to contact Jones multiple times and spoke with him twice. The Galileo Project land is presently encumbered by roughly 1,700 fractional interests provided to the Galileo Project investors. There would be half a million residents living along winding city streets that were curved to slow down traffic. In March 2022, we sent out 2,970 letters to investors notifying them of the Receivers Preliminary Claim Determinations. But much of the land they bought is nearly worthless. In July, Mr. Maney asked the Court to stay this case, which would put the case on hold, until the criminal case is finished. The Receiver has also submitted to the Court a proposed order approving the sale. The Court has rescheduled the hearing on the Receivers Motion from August 28, 2020 to August 19, 2020 at 1:30 p.m. All responses and oppositions to the Receivers Motion must be filed with the Court by August 6, 2020. A copy of the Receivers First Interim Status Report is posted in the Documents section of this webpage. As you may be aware, the Court approved the sale of the Silver Saddle Ranch and Club ("Ranch") for $2,100,000. (Chava Sanchez/KPCC). Maney helped negotiate the settlement with the FTC, and after Great Western Cities declared bankruptcy in 1984, he acquired some of the assets, including a lot of vacant California City land and a small resort called Silver Saddle Ranch. Feterik initially resisted the attempt to cancel the escrow. However, before this can occur, the current escrows must be canceled. The Court ordered that the Receiver cannot distribute any money to investors until the conclusion of the case. The salespeople held raffles for free airline tickets to Hong Kong and Manila, shopping sprees, watches, cameras and other perks to encourage people to invest. The Judges overseeing this case are JOHN J. KRALIK and WILLIAM F. HIGHBERGER. After obtaining an extensive appraisal, the Receivers team interviewed and selected a broker, Kidder Mathews, to sell the Ranch. As we have noted repeatedly, calculating the Final Claim Determination amounts does NOT mean investors will receive those amounts. As explained below, if you disagree with the Receivers determination you must contact the Receivers office by mail or email on or before April 8, 2022. The receivers motion later stated in footnotes that a joint offer with investors would have required rescinding an offering made by Maney and approval by the state, which would further complicate the sale. The Galileo Project property is listed for $919,746. 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. August 26, 2022 Receivership Case Stayed. As Mendelsohn saw it, city folks could come and buy an empty lot -- for cheap. The Receiver also filed a Response to the Motion to Intervene filed by Antonio Garcia and Carlos Novelo. The allegations against the defendants include that they: Ben Perez is one of the more than 2,000 people who invested money with Silver Saddle. Four years ago, while reporting a story about the drought, I received a tantalizing tip: In a small town in the Mojave Desert, salespeople were making tens of millions of dollars hawking empty desert land to unsuspecting buyers by convincing them the area would boom one day -- and if they got in now, they could get rich. The Court also determined that the Receiver had shown the current offer was fair and reasonable. 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. On 02/08/2018 BORRAYO filed a Personal Injury - Other Personal Injury lawsuit against SILVER SADDLE RANCH CLUB, INC. Here are 7 key takeaways: 1. 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. Leads Ali Wong and Steven Yeun issue a joint statement along with show creator Lee Sung Jin. If and when the Court enters an Order allowing a distribution to investors, the Receiver will issue investor checks promptly and consistent with the claims determinations. July 17, 2020 Results of Hearing on Receivers Ex Parte Application. Our news is free on LAist. All of the defendants are affiliated with Silver Saddle Ranch & Club, a remote desert resort in California City about an hour and a half north of L.A., where salespeople offered free weekend vacations to Latino, Filipino and Chinese consumers in exchange for sitting through a high-pressure sales pitch. The Court will need to approve a distribution before the proceeds from the sale can be distributed to investors. 3. The state filed an injunction and lawsuit against several people accused of $30 million in fraud and illegal land sales, including Maney and Silver Saddle Ranch & Club, Inc., among several others. The receiver noted in the motion that many of these amenities were modestly constructed, outdated, and poorly maintained.. This case was filed in Los Angeles County Superior Courts, Stanley Mosk Courthouse located in Los Angeles, California. On April 15, 2022, the Court held a hearing on the Receivers Motion to Approve the Sale of the Galileo Project Land. Spokespeople and legal advocates for the group claim that 3,000 people invested $54 million in land purchases $24 million more than what the state's lawsuit against Maney and Silver Saddle Commercial Development cites as being taken from investors. The last 5 digits of the account number represent the investors unit number. 7. It had been going on for years. If you were an investor, please continue to keep the Receivers office apprised of any address changes. Leads Ali Wong and Steven Yeun issue a joint statement along with show creator Lee Sung Jin. The criminal complaint is available in the documents section of this webpage. Why A Key Program Is Falling Short, An Agonizing Battle With Schizophrenia Ends On A California Freeway. The results were as follows: 23 challenges were denied, 17 resulted in an adjustment to the claim determination amount, and 3 were accepted completely. 7, 2022), Receiver's Motion to Approve Sale of Galileo Project Land (Mar. February 8, 2021 A Global Email was Sent to Investors Today Explaining the Receiver has Filed a Motion to Approve the Method and Procedures for a Distribution to Investors, Sale of the Silver Saddle Ranch and Club (Ranch). The listing is available here: https://www.loopnet.com/Listing/Rutgers-Rd-Kennedy-Blvd-California-City-CA/20743529/. An onslaught of velella velella washed up on shore this weekend on Southern California beaches. Between 2011 and 2019, Silver Saddle made more than $56 million. Higher wind gusts possible. What about Silver Saddle Ranch & Club - is it still open? In Silver Saddle's case, approximately 1,000 acres of empty desert on the outskirts of California City, divided into 4,000 shares. 60 Years Of Deception And Land Sales In California City: 7 Takeaways From My Investigative Podcast, California City Podcast: State Adds Use Of Cell Phone Jammers to Complaint Against Silver Saddle, 'California City' Podcast Tells The Dark Side Of The American Dream. The blue jellyfish-like creatures were swept by the winds of California's recent storms. To make sure you get our coverage: Sign up for our daily newsletters. On September 24, 2019, the San Diego Superior Court issued a Temporary Restraining Order (TRO) with asset freeze and appointment of a 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). More information on these matters is available in the Receivers Fifth Interim Status Report (filed September 16, 2021) and the Receivers Sixth Interim Status Report (filed January 13, 2022). I wish they would give the money back to us., When I interviewed Thomas Maney for the podcast in early 2019, he told me, Well, first of all, we've never misrepresented. The listing is available here: https://www.loopnet.com/Listing/Rutgers-Rd-Kennedy-Blvd-California-City-CA/20743529/. He was shocked to hear the news of the criminal charges. Now, survivors and their descendants seek reparations. 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. On July 24, 2020, Judge Wohlfeil denied the Motion to Intervene filed by Antonio Garcia and Carlos Novelo. In our last update, we explained the Receiver had filed a motion with the Court to approve the sale of the Ranch to a third party for $2,100,000. 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 case status is Not Classified By Court. In July, the receiver eventually accepted an offer from Kevin Feterik, who had partnered with local businessman Leland Krelle, for $1.77 million. For additional details on the sale of the Ranch, please see below. During the sales pitch, potential customers were divided up by ethnicity and paired with a salesperson who spoke their primary language. As the Receiver, it is Mr. McNamaras job to identify, pursue, collect, and preserve the assets of the Receivership Estate while the lawsuit proceeds. Because of these ongoing costs, we determined selling the Ranch is in the best interest of the Receivership Estate. IN 2011, SILVER SADDLE TRANSITIONED FROM SELLING VACANT DESERT LOTS TO SELLING SHARES OF A CONFUSING REAL ESTATE INVESTMENT CALLED 'LANDBANKING'. Copies of the Receivers Motion to Approve the Sale of the Ranch and Application to Shorten Time are available in the documents section of this webpage. They could build a house, or just hold onto the land and sell it in the future. If the Motion is granted, the Receiver will be able to start the distribution process. However, the receiver soon received complaints from Maney and from local businessman Rick Jones. This class action lawsuit was filed on 01/25/2022 in Orange County Superior Court. Silver Saddle Receivership FAQs Updated as of 10/10 . Around the same time, a young Ralph Nader asked his gang of consumer protection attorneys, the "Nader's Raiders," to investigate land sales and development throughout California. In its motion, the receiver stressed the desire to unload the storied property as it represented its largest and most costly asset. Of the four purchase offers presented for the Ranch, the Receiver has accepted an offer of $1,774,500. The Receiver has been marketing the Ranch through a real estate broker for sale since May. 12. Prior to the Sept. 14 deadline of 10 a.m., the receiver contacted Jones attorney for clarification of whether the offer was contingent on acceptance of the joint venture proposal, but no response came and the deadline elapsed. A lot of it was used to pay sales agents. DBO contends that businessman Thomas Maney and other associates conned people into purchasing land shares on theGalileo Project with the promise of earning a significant return on investment down the road. 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. That's because the land Silver Saddle sold was "near worthless real estate," according to the DBO. The vegetation varies from cottonwood trees and willows along the riparian corridor to the irrigated pasture fields and . Get our daily newsletters for the latest on COVID-19 and other top local headlines. What You Should Know About This Year's 'Constant Bloom', You Need Child Care For Your Baby. They compared California City to Las Vegas and other large cities in the Southwest that began as tiny desert outposts. In the 1950s and 60s, the city evicted the mostly Black and Latino working-class residents of Section 14 and destroyed their homes. Now, the California Attorney General has charged nine of those salespeople with felonies. Every two years, Desert X presents site-specific outdoor installations throughout the Coachella Valley. At the same time the Receiver accepted an offer to purchase the Silver Saddle Ranch, he accepted an offer to purchase the Galileo Project Land. Trial is presently scheduled for May of this year. The blue jellyfish-like creatures were swept by the winds of California's recent storms. At the hearing, the Court approved the sale of the land for $900,000, with clear title and free of all liens and encumbrances. Investors Reviews of Claim Determinations. Thomas W. McNamara was appointed as the Receiver in this case. We have reviewed records from Equiant and Silver Saddle which detail the investor payments recorded by the Defendants. Every two years, Desert X presents site-specific outdoor installations throughout the Coachella Valley. We will seek the Courts 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. Two Los Angeles artists have new work on display. Less than an hour after signing a contract we had our doubts and were able to think it through and contacted the broker. Insperity, the payroll provider, will issue W-2s to former employees by January 31, 2020 via either U.S. mail or electronic delivery. The case remains pending in San Diego County Superior Court, with a current trial date of January 21, 2022. For the latest national news from NPR and our live radio broadcast, visit LAist.com/radio. The Final Determination of Investor Claims will be used to calculate the pro rata share of any distribution ordered by the Court. Thousands of people bought this dream. All the defendants have entered not guilty pleas. If you have a tip or story to share about California City or Silver Saddle (or anything else), email me: eguerin@scpr.org. Ultimately, more than 73,000 people bought land, netting Mendelsohn's company hundreds of millions of dollars. Receivers Review of Challenges and Final Determination. The Court took into account the Receivers concerns and recommendations, as well as those of the other interested parties. 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. The Receiver hired counsel for both matters. The Galileo Project land is presently encumbered by roughly 1,700 fractional interests provided to the Galileo investors. Regulatory Resolutions, operated by Thomas McNamara, agreed to the sale of the 130-acre property for $2.1 million to the proposed buyer Aaron Mamann after a previous arrangement was canceled. Silver Saddle Ranch & Stables is a horse boarding facility. For additional details on the sale of the Ranch, please see below. The motion cites water costs alone ran more than $285,000 since it was placed in the receivers hands in October 2019. LAist is part of Southern California Public Radio, a member-supported public media network. Please continue to check the Receivers website for periodic updates. 4, 2022), Knight Decl. DBO also stated that many victims spent as much as $30,000 in a scheme that lasted eight years. The Court ordered that the Receiver cannot distribute any money to investors until the end of the case. After hearing argument, the Court granted the Receivers Motion and approved the sale of the Ranch. On March 19, the Court heard oral argument on the Receivers Motion and denied the Receivers request to proceed with an interim distribution to investors. On 04/16/2019 JOSE CARRILLO filed a Labor - Wrongful Termination lawsuit against SILVER SADDLE RANCH CLUB, INC. BC314239 Your activity looks suspicious to us. The DBO alleged that Defendants committed . Relief Defendants named in the Complaint are: Marian G. Ducreux; Clifford J. Reynolds; and Wayne A. Pedersen. Today, most of the roads are abandoned. 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. Copies of the Complaint and the TRO are available in the documents section of this webpage. A 1969 newspaper ad for the real estate training program that Nat Mendelsohn used to sell so much land, "Land for sale" signs litter the empty desert in California City. If the DFPI is successful at trial or the parties reach a settlement, then the Receiver will seek permission from the Court to distribute the funds in the Receivership Estate to the Silver Saddle investors. 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 Receivers notice and recommendations to the Court. 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. 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. The Receiver will proceed with hiring a realtor and proceeding with listing and marketing the properties. It was supposed to be a good investment. The sales process continued and Mamann offered an initial offer of $1.8 million for the ranch and $600,000 for the Project land. Silver Saddle Ranch & Club, Inc. Summary: This case is a class action lawsuit against Silver Saddle Ranch & Club, Inc. for violations of consumer fraud. Right now, the case is set for trial in September 2022. The California Department of Business Oversight ("DBO") filed its civil lawsuit on September 9, 2019 against Defendants. CALIFORNIA CITY WAS FOUNDED BY A CZECHOSLOVAKIAN IMMIGRANT WITH A VISION TO BUILD A CITY FROM SCRATCH IN THE DESERT. 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 case status is Other. One offer fell too low beneath the listing price. Background on the Process to Reach a Final Determination of Investor Claims. If the DFPI is successful at trial or the parties reach a settlement, then the Receiver will seek permission . The current sales brochure for the Ranch and the Galileo Project can be found in the Documents section of this webpage. 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). Both purchases needed to be approved by the Court before they could proceed. Winds SW at 15 to 25 mph. According to the receivers motion, the offer was submitted along with a joint venture proposal involving the Galileo Project investors and also involved financing contingencies, compared to a previous all-cash offer by Jones. Maney continued selling vacant desert land, using the resort as an attraction to draw potential buyers. As we said previously, Defendant Thomas Maney and others were criminally charged based on conduct that is essentially the same as in this case. Like many urban planners at the time, Mendelsohn thought major cities like Los Angeles were overcrowded, polluted and dangerous. There would be a golf course, a university, a mall, a massive park and an airport. Help us provide credible local journalism and timely NPR reporting to our entire community. 4. They're engaged in a grand illusion of creating wealthNK Mendelsohn has perfected the art of turning desert dust into gold -- but only for himself.". After the Nader's Raiders' published their report in 1971, the Federal Trade Commission began to investigate. People needed a place to go, to start over. A judge appointed a receiver to take control of the company's assets and property while the case proceeds. LAist is part of Southern California Public Radio, a member-supported public media network. In 1977, the company settled, and was ordered to pay what was, at the time, the largest consumer refund in the history of the FTC. For the five-month period of September 2019 to March 2020, water, electricity, labor, and insurance costs for the Ranch was approximately $230,000. As previously reported, the receivership case was stayed (put on hold) on August 11, 2022 as the result of a request by Defendant Maney. The idea was that the land would appreciate in value, and when it did, all the co-owners could sell it to a developer and make a lot of money. He envisioned building a city of 200 square miles in this otherwise desolate spot. 2023 Southern California Public Radio - All Rights Reserved, As Fentanyl Deaths Climb, Bill Would Require Drug Education In Schools, Lawmakers Want More Social Media Regulation. 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), Motion to Approve the Sale of the Galileo Project Land, Declaration of Cornelia J. Despite this significant outreach, l did not receive any offers from Mr. Jones, nor have I received any further communications from him, Knight stated in her declaration. 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. We will provide a further update at that time. 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. Please prove that you're human. Bids for the Ranch are due on September 14, 2020 by 10:00 a.m. Thats when the California Department of Financial Protection and Innovation raided Silver Saddles headquarters, halted all sales operations and took control of its bank accounts. A trial date has been set for July 2021. The Ranch is closed and will remain closed indefinitely. Mismanagement, Sloppy Hiring Practices, Lack Of Transparency. However, the sales pavilion, parking, and other related improvements are located on a 24-acre parcel is owned by the City of California City and leased to Silver Saddle Resort and Club which expires April 17, 2027. That case, which is a separate civil lawsuit unrelated to the new criminal charges, is set to go to trial in September. As the Receiver mentioned in his last update, the same proposed buyer who offered $2,100,000 for the Ranch also offered $900,000 for the Galileo Project vacant land. At the conclusion of the case, the Receiver will promptly move for permission to make a distribution. The Receiver has therefore proposed to the Court that pro rata distributions be made to each investor based on the amount each investor paid into the Galileo Project and Common Improvement Fund. The Receivers goal is to maximize the amount of money that each of the Silver Saddle investors will receive from the Receivership Estate should the Court approve a distribution. This case was filed in San Diego County Superior Courts, San Diego Central Courthouse located in San Diego, California. If you're enjoying this article, you'll love my daily morning newsletter, How To LA. Claim Determination letters have gone out today to Silver Saddle investors who invested in the Galileo Project (sometimes called LandBanking Plus). We also raise pigs and goats to sell to On March 16, 2023, the Superior Court in the receivership case held a status conference to discuss the status of the criminal proceeding. The Receiver will file a motion for the Galileo Project land after the sale of the Ranch is complete. Who knows when we'll see such vibrance again in this recently drought-choked land? Internet Reaction Is Not Great, There's Something Else Blooming In The Desert: Massive Art Installations, What We Know About The Odd Blue Creatures Washing Ashore On SoCal Beaches, The Palm Springs Government Burned Down Their Neighborhood Now They're Seeking Reparations, The Very Busy Ports Of LA And Long Beach Are Effectively Shut Down, Everything Is Blooming In The SoCal Desert. The Top 5 newsletter catches you up with LAs top 5 stories in just 3 minutes. Every weekday, you'll get fresh, community-driven stories that catch you up with our independent local news. As such, while we have carefully considered the concerns raised by these investors, they do not have legal standing to object to the sale. 6. The Motion to Approve the Sale of the Ranch and related documents are in the Documents section of this webpage. The Galileo Project property has been listed for $919,746. Here Are The Legal Hurdles That Could Face, Your SoCal Weather Report: Get The Rain Boots Back Out And Brace For Gray Skies, Emily Guerin tells a story of money, power and deception, 'Beef' Stars Defend David Choe Casting. Any response must be filed before the hearing. The Receiver has retained counsel to address both the appeal and the bankruptcies. 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. As a result, Investor A has a claim for $200, Investor B has a claim for $500, and Investor C has a claim for $300. To that end, on February 8, 2021, the Receiver filed a Motion to Approve Distribution Method and Procedures (Motion). Please understand that the Receivership Estate has very limited assets primarily the proceeds from the sale of the Ranch and the anticipated funds from the sale of the Galileo parcel (if approved by the Court). The motion for the court to approve the sale is scheduled for Nov. 6. The Court will hear the Motion in a telephonic hearing on March 19 at 9:00 a.m. 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. Many were young couples and hard-working immigrants looking to build a better future. 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. Instead, each investor will receive a share of the proceeds proportionate to his or her investment in the Galileo Project (a pro rata share). No, the Ranch was permanently closed and recently sold to a third party pursuant to a If you believe the email or mail address the Receiver has for you is incorrect, you should immediately provide the correct address(es) to the Receiver by sending an email to: info@regulatoryresolutions.com, with Silver Saddle in the subject line of the email.
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