Dear Media,
With the exception of Dan Noyes, where have you been and what took you so long? This is a big story and deserves your attention.
Regards,
The Robie Family
STORY HERE:
Coco Times Weighs In
16
Category Archives: Personal Guarantee
Breaking News
Walter gets sentenced to 5 years of probation.
Kelly sentenced to 18 months in prison.
Sound off.
Our Money
Excerpts from letters of support filed on behalf of Kelly Ng:
Omar Irigoyen, men’s volleyball coach at the University of California, Berkeley:
Abhinav Janghala:
Brandt Ng:
Douglas White:
Frank Largusa:
James Wilcenski:
Lupe Rodriguez:
Mark Lowe DDS:
Nathan Wang:
Rick Dishnica:
Rick Tune:
Vincent Hua:
And last, but not least, Christina Zemba Casey — WHAT???
Sentencing for Walter and Kelly Ng — MARCH 5th at 2:30 PM in Oakland
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There’s been some talk on this site about Walter & Kelly’s sentencing. And we’re aware that it’s not just us victims reading this site anymore. We have readers from the media as well as law enforcement/judicial. There’s a lot to learn here about what these crooks did to us and how they stole our hard-earned money.
Life isn’t fair sometimes and we’ve received the short end of the stick in terms of this investment and the fallout that has ensued. Here’s to the legal system dealing a knockout punch to the hucksters who robbed us blind.
The enclosed information is provided by the United States Department of Justice Victim Notification System (VNS). As a victim witness professional with the United States Attorney’s Office, my role is to assist you with information and services during the prosecution of this case. I am contacting you because you were identified by law enforcement as a victim during the investigation of the above criminal case.
The sentencing hearing for defendants Walter Ng and Kelly Ng has been set for March 5, 2014, 2:30 PM at Courtroom 1, 4th Floor, 1301 Clay Street, Oakland, CA before Judge Phyllis Hamilton. You are welcome to attend this proceeding; however, unless you have received a subpoena, your attendance is not required by the Court.
Department of Justice Letter Update and Commentary
Well, today the Robie household received its USDOJ Victim Notification System letter that we discussed on this site just a few days ago.
Here’s the gist:
“The government has [charged] defendants Walter Ng and Kelly Ng with the crime of Structuring Transactions for the Purpose of Evading a Reporting Requirement.”
- That’s the best they could do? Evading a reporting requirement? This is nothing like tripping up Al Capone on an income tax issue. This feels a lot more like giving Walter and Kelly a jaywalking ticket.
“The defendants are scheduled for arraignment on November 6, 2013, at 9:30 AM, before Magistrate Judge Kandis Westmore in Courtroom 4, 3rd Floor, 1301 Clay Street, Oakland, CA.”
- Okay…tell us more….
“The government and defense counsel for the Ngs have reached a resolution to these charges and anticipate that the defendants will plead guilty on November 6, 2013, at 1:30 PM, before District Judge Phyllis Hamilton in Courtroom 3, 3rd Floor, 1301 Clay Street, Oakland, CA.”
- This doesn’t bode well for the investors. A “resolution” has been reached. Why let these guys off easy? This has the aroma of a skunk’s rear end.
“The government provides this notice to you because you may have been an investor in RE Loans, LLC and/or Mortgage Fund 08, LLC. Victims of all crimes under federal investigation are entitled to service under the Victims’ Rights and Restitution Act (VRRA), including notification of court events. However, because you were not directly and proximately harmed as a result of the structuring-related conduct charged in the filed criminal Information, you are not covered under the Crime Victims’ Rights Act.
- Huh?
“With regard to restitution, the government does not expect to recover any loss amounts in this case.”
- The picture above about sums it up. Et tu, Brute? Would anyone else supposedly put in place to help us like to cave like a house of cards and do nothing to help those who need — and DESERVE — the help?
“In any event, we will continue to provide you with notifications and services unless you tell us not to.”
- Gee, thanks.
“Because of the Court’s schedule, hearing dates could change on very short notice. If you plan on attending, you may want to call the Victim Notification System (VNS) Call Center or check the website to confirm the date and time. Please note, there is a 24-hour delay in information transferred to the website.”
- The phone number to call is 1-866-365-4968
- No, we cannot bill the call to the Ngs
“Separate from the charges filed by the U.S. Attorney’s Office; please note that the Securities and Exchange Commission has charged Walter and Kelly Ng by Complaint with fraud-related securities violations for their activities involving RE Loans and Mortgage Fund 08.”
- Finally some good news in an otherwise bleak letter from the government.
- It’s not our Victim Witness Specialist Yvette Baird’s fault that it seems like these thieves are getting off scott-free. She’s just doing her job. The real blame lies with the folks WAY up the food chain.
- We matter. There are A LOT of us. We’ve all been stolen from, duped, lied to, taken advantage of and, in some cases, had our lives upended, detoured and even ruined. All because of the Ngs and now they’re essentially getting away with it without ever having to pay the true piper. This isn’t right. This isn’t justice. This is injustice, and it’s far from the American way. Our government has failed us. The DOJ, the SEC, the California Attorney General, the FBI. Everyone. It’s fucking preposterous and every official, whether elected or appointed, should be ashamed.
“Freedom Lies In Being Bold”
The title is a quote from the author Robert Frost, which is certainly apropos as we’ve just unearthed this “COMPLAINT FOR AIDING AND ABETTING BREACH OF FIDUCIARY DUTY”.
It was filed against Armanino McKenna in the names of three brave investors who have taken on the burden of leading the charge for the greater good of the whole.
Thank you to Theodore Jones, Jeanie Kayser-Jones and (not the author) Robert Frost.
Sound off below and let us know your thoughts.
An Update From The Field
Don’t Miss the Tracy Green Show!
November 2, 2011 2:00 p.m. Courtroom 201 1300 Clay Street Oakland, California.
Come one, come all to hear Ms. Green’s motion on behalf of the esteemed creditor’s committee to move the Walter Ng Bankruptcy to Chapter 7. Didn’t Judge Efremsky already suggest this a while back. . .?
As usual, get there early because seating is limited. Let’s be nice and try to save a few seats for the FBI, SEC and Dept of Labor.
Also, if you could not make it to the October 25th Walter Ng Status Conference, here’s an update:
RE LOANS FILES FOR BANKRUPTCY PROTECTION
RE Loans filed for bankruptcy. While this was inevitable, no doubt, it’s still a shock to the system. Despite the fact that it’s our money, our lives and our futures, the real bankrupt entity is the Ng Family Dynasty. They’re morally bankrupt. They’re ethically bankrupt. Yet they’re still out there doing business and tricking more suckers like us out of their hard-earned savings.
Maybe Led Zepplin said it best in “When the levee breaks”
If it keeps on rainin’, levee’s goin’ to break,
When The Levee Breaks I’ll have no place to stay.
Mean old levee taught me to weep and moan,
Got what it takes to make a mountain man leave his home
Equitatus posted the following a few minutes ago: Continue reading
Monday Funnies
Tracy Green of Wendel, Rosen, Black & Dean – Angel or Bottom Feeding Troll?
Tracy Green, a name some of us are familiar with (and some have even met with in regard to our conundrum), has applied to be named counsel to the unsecured creditors’ committee. The link below will lead you to her application.
Fighting Kaplan
The documents on Equitatus’ blog are worth reviewing. In the end, Kaplan and his firm will likely be representing Maribel & Walter. While it costs us money (that we don’t have) every time papers are filed and court appearances occur, we gain a deeper insight into the affairs of the entities and the individuals, which is highly beneficial. Transparency benefits us.
UPDATE: Forgot to mention that a mailing arrived yesterday from Kaplan. Yesterday was, of course, June 7, 2011. The Continue reading
Kaplan’s Kapers (UPDATED to include BRAVO, BROWER)
Walter’s Financials
It’s rather interesting to peruse the financial exhibits provided by Walter’s attorneys. Who knew that Bar-K was worth a grand total of $0? Have you ever heard of LOWN, LLC? We always thought Barney was the creative force behind the naming of the LLC’s, but we were wrong!
You can find the documents by clicking on THIS LINK.
Thanks to super sleuth Equitatus for their hard work in tracking down these documents.
Update From Bar-K’s Website
Here’s the latest from the good folks from Bar-K, RE Loans, MF ’08, Lend, Inc., Mackinac Partners, etc. etc. etc.
Take it for what it’s worth: Click Here: bk-additional-information
This Is Insulting
Lunacy is defined as “Insanity, especially insanity relieved intermittently by periods of clear-mindedness.” What’s missing at the Bar-K office is the part about intermittent clear-mindedness, as evidenced by their statement below. They certainly have the remainder of the definition covered.
Walter’s BK Discussion – What’s happening and what does it all mean?
The following comes from Robert Brower:
Walter Ng filed for Chapter 11 bankruptcy protectionon Thursday afternoon. Just before Friday’s hearing,I filed a dismissal of Walter Ng, without prejudice.This removed Walter Ng from the case and preservedthe McGuire’s rights to go after Walter in bankruptcycourt.
Please Attend The Creditors Meeting – June 6th
Thank you to Dixon Collins for the following: Continue reading
Barney’s “Hobby” Revisited
The Siena saga is nearly over, but info keeps landing in our laps. Therefore, we present another document with the following reader comment:
3 Page Notice that all claims close 15 April, then 26 pages of creditors. Wouldn’t you love to know how much American Document Destruction is owed, and exactly what their services were? It takes some major cajones to stiff your shredding company.
Click here for the document: Creditors Doc 265
Do you see any creditors on the list that spark your curiosity?
What’s New In The Zoo?
A few items for your consideration and comment:
- KGO investigative reporter Steve Fyffe has been interviewing investors and noteholders.
- Hundreds of noteholders have contacted the FBI.
- People haven’t yet embraced the new message board (http://s3.excoboard.com/barkinvestors) – try it out today.
- Weissenborn remains in hiding.
- The Ad-Hoc Creditor’s Committee must be holed up with Weissenborn.
- Barney hasn’t sued or been sued in months. Weird. Continue reading
Heads They Win Tails We Lose
People often ask what the difference is between the Siena bankruptcy and a soap opera. We’re not sure we know the answer, but research genius and insider-outsider founder of www.rereno.com might have some insight, as the following was sent along:
What’s The Value Of A Personal Guarantee?
RE Reno Seven Months Later…
On May 14, 2009 Barney Ng wrote the following to RE Reno investors:
Barney’s commitment to paying off the loan should be lauded. His follow-through, however, is laughable (so is yours, Walter – you, too, signed the personal guarantee). Barney continues… Continue reading
The ‘Mourning’ After
Rage faded to disappointment overnight, but returned with a vengeance this morning. The realization (or was it a reminder?) that the valuations provided by the NG family aren’t simply inflated, but greatly exaggerated, hit like a ton of bricks. Weissenborn and his high-priced team have been noticeably quiet. They apparently don’t have time to update us on anything, let alone the great financial loss we sustained yesterday. Arent Fox made money. Stephanie & Matthew Kelly made a few bucks. So did Innovation Capital, to the tune of $300,000 plus consulting fees of $10,000 per month. We, however, lost everything unless, of course, you believe in divine intervention.
Siena Auction TODAY – Rambling Thoughts and Questions
From REreno:
“So tomorrow is the auction. I’m a bit of an insider and have been following the activity closely. There was only one party who conducted a thorough due diligence inspection of the Siena as far as I can tell (I read vanity plates and the contractor signs on the F-150s in the parking lot). I think the opening bid will be $1. And I have no indication that there is a back up bidder. I don’t think that RE Reno or Loans has the deep pockets anymore to enter the fray. Meaning you investors will be wiped out 100%.”
We know Konami Gaming filed another objection yesterday. We read what REreno wrote above.
WHAT DOES THIS MEAN?
Siena Watch – UPDATE
Per the RGJ’s Ray Hagar this morning:
The auction of the Siena Hotel Casino in downtown Reno will take place next week in a Reno courtroom, where a national investment banking firm will try to sell the downtown resort that recently closed after a long string of financial problems.
“The reality is that the Siena has ceased operations and we are going to sell this in a bulk sale in one transaction to a singular buyer,” said Matt Sodl, managing director of Innovation Capital LLC in Los Angeles. “It will be a turn-key operation for that buyer and that buyer can either run it as it were, with the hotel and casino, or the buyer can decided if they want to operate a casino there or not.”
Those interested in participating the Nov. 10 auction are asked by Monday noon to submit a $250,000 deposit by wire transfer, evidence of financial wherewithal, a signed non-collusion affidavit and a mark-up of the Debtors’ form purchase agreement.
One-on-one tours of the property will be held on Tuesday with the auction Wednesday in the U.S. Bankruptcy Court of Judge Gregg Zive.
“We have marketed this thing far and wide and have a lot of interest in this asset,” Sodl said. “We have had a lot of interest from in-market competitors to buyers who are looking to get involved in the Reno market.”
Siena Hotel & Casino – Is The End Near?
According to a local TV station, the Siena’s casino floor is not currently open due to money woes.
Bar-K Investors 