CA Election Results May Not Bode Well for Bar-K Investors

Jerry Brown, former CA Governor, former Oakland Mayor, current CA Attorney General, and now about to once again become CA Governor, and Oakland movers and shakers Phil Tagami and Len Epstein;

“He (Tagami) is one of Brown’s closest confidants, and though he won’t admit it, one of the most influential players in downtown Oakland. “
http://articles.sfgate.com/2005-03-18/bay-area/17364783_1_fox-theater-buildings-loma-prieta

Jerry Brown’s wedding was held in the Oakland Rotunda.  (reference the newspaper article, above.)

His latest election night party was hosted in the recently renovated Fox Theater in Oakland.  (reference again the newspaper article, above.)

Tagami and his mentor/business partner Len Epstein, both fast friends of the Ngs, are/were very large investors in RE Loans and ‘may’ have received greatly preferential treatment when they were ‘given’ the Austin Val Verde loan/property (as was previously reported here and for which there are public documents, one of which is available here:  https://barkinvestors.files.wordpress.com/2010/11/santa-barbara-documents.pdf

Reportedly, at least two requests were made of Attorney General Brown last year by RE Loans, LLC investors to investigate Bar-K, RE Loans, the Ngs, et al.  On both occasions AG Brown’s office declined to do more than give the requests even minor consideration.

Hopefully the next AG will be willing to conduct an investigation into the almost one billion dollar fiasco that is commonly referred to as Bar-K.

ANV

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6 thoughts on “CA Election Results May Not Bode Well for Bar-K Investors

  1. The upshot of the election is that Moonbeam is now Governor and we have a new Attorney General coming into office (either Kamala Harris or Steve Cooley). The new AG may be willing to take a fresh look at the Bar-K story.

    • Does anyone have the SEC letter that was an addendum to the SEC dismissal letter (The 3-4 sentence dismissal letter was proudly posted by Bar-K on their website, but they have not included the addendum stating the reasons for the dismissal and outcome of the inquiry).

      Please post the letter or point people to where it resides. It is important to tear the letter apart by reading between the lines as it will provide what we need to push the SEC to investigate Bar-K and its funds in full earnest – some players have convinced or wrestled the SEC to put this to rest and it is upon us to let the SEC know that we know that this inquiry was not thorough and there is more to it than just the carefully crafted “party line.” The SEC themselves are adding to their shame by overlooking what many are convinced is a $800 million fraud operation. Given that the FBI is investigating this now, we need a cogent demand submitted to the SEC requesting that they either provide good reasons for not pursuing this or reinstate a thorough inquiry. Remember, it took more than 4-5 years before the SEC acted on complaints against Bernie Madoff. They have also taken the Galleon fraud seriously and that amounted to only approx. $50 million in illegal profits. Does $800 million matter? Make it matter, take it back!

  2. These are the SEC officials that should receive letters demanding reasons for dismissal and a request to thoroughly investigate Bar-K and its various entities. Also, note that the SEC inquiry only focused on RE Loans (was this carefully directed by the defending law firm?).

    San Francisco Regional Office
    Marc J. Fagel, Regional Director
    44 Montgomery Street, Suite 2600
    San Francisco, CA 94104
    (415) 705-2500
    sanfrancisco@sec.gov

    Also, write to Mary L. Shapiro and Robert Khuzami

    SEC Headquarters
    100 F Street, NE
    Washington, DC 20549
    (202) 942-8088
    contact form: https://tts.sec.gov/oiea/QuestionsAndComments.html

    This was a crime (see link below) – are there any similarities between this and the clandestine exchange agreement drafted by Bar-K and their attorneys, Traurig – read Dixon Collins vs. Ngs complaint?

    http://www.sec.gov/news/press/2011/2011-29.htm

    • Most of us have seen this letter. There is an enclosure that was sent with this letter and this is what we should be looking at. Does anyone have the enclosure?

      >”Does anyone have the SEC letter that was an >addendum to the SEC dismissal letter (The 3-4 sentence dismissal letter was proudly posted by Bar-K on their website, but they have not included the addendum stating the reasons for the dismissal and >outcome of the inquiry).”

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