KGO Story

Per the blog and the message board:

NEED FORMER INVESTORS FOR INTERVIEW

I’m an investigative producer for KGO-TV working on a story about RE Loans and Mortgage Fund ’08. I need former investors willing to do an on-camera interview. Call me at 415-954-7572.

Regards,

Steve Fyffe

Please call Steve if you’re willing to tell your story.

Advertisements

33 thoughts on “KGO Story

  1. We need sound bytes/messages for this story – the important one’s being: (previously posted under Message board).

    1. Apart from what KGO’s audience is interested in – the human interest – it is also important to mention that the SEC investigated and did not do justice or failed to fully investigate the wrong doing by Bar-K and its entities.

    2. Make it known that the FBI is investigating this. Make it also known, that the SEC succumbed to an ex-SEC and now private attorney by dismissing their inquiry into a fraud operation.

    3. Make it known that several people have written to Sen. Barbara Boxer and the Attorney General – yet, even after more than 2 years, there seems to be little action from the regulatory bodies.

    4. There are several fraudulent scams/Ponzi’s that are much lesser in value and the losses to investors and are being investigated by the same authorities. Allegations against Galleon amount to approx. $50 million in illegal profits. Bar-K is more than $700 million. Is it not worthy of attention?

    5. And while you share your story, also make it known that Bar-K continues to defend itself with $700 million of investor money and continues to enjoy high salaries for themselves and those they have appointed to mop the mess.

    6. Call out the preferred investors – why were they paid while Bar-K denied withdrawl of funds to other investors. Bar-K paid themselves and friends from the $50+ million they borrowed from Wells Fargo Foothill, while also meeting some interest payment obligations (If you understand Ponzi, what would you describe this as?).

    7. Share your story of how Bar-K lured investors under false promises and clandestine exchange agreements – from equity partners, investors were transitioned into noteholders without consent and with very limited control over their interests. (This was intent to defraud).

    You may not have all the time for this, but pick the ones you’re comfortable with. If not, it is fair to assume that several more media stories will follow this one.

      • Semasiology is of least importance here. If it is not contextual, relevant and/or useful, add something that might be or simply rely on your ownself if you decide that helping fulfill this request will help your cause – ultimately.

    • I appreciate your advice, and will take it as I do an interview with KGO…in the next days.

      HOWEVER, we really need to hear from folks who have had devastating effects of the income or savings losses. We are relatively young and can make up some of the losses, but I understand there are others who cannot – and have suffered greatly. PLEASE come forward and call Steve Fyffe at 415-954-7777. I believe this is A CHANCE TO MOVE FORWARD WITH OUR CAUSE…Please do not feel that it will make you look stupid… we are all victims, and there are many thousands (hundred of tousands more if you include other similar situations nationally) of folks who did what we did to make the most of our savings. Your voice is needed!!

  2. Since nobody has to be ID verified to post here, we’re really ALL anonymous, no matter what name we put in the little box.

    Considering the Bar K issue, I would not be surprised if some hints and helpful information came in through the blog or message board from people who have reasons to not want to post their real name where it can be read by anyone on the internet.

  3. I have followed this Blog with interest but this is my first post. Robert Bauer is an idiot. The post by Take it Back is right on track. What do you have to offer R. Bauer besides criticism? Lets hear your talking points.

    I also have a significant amount of money invested BUT it is an investment. The higher the return ( 8%, ) the higher the risk (investing 101). We all signed paperwork that stated we were not investing more than a certain percentage of our total wealth (I believe it was 40%). If you invested your life savings, shame on you.

    I, as most of you, will be hut by this but I think the Ng’s are doing their best to maximize the return we will get.

    I invested about 5 % of my net worth and if I lose it, so be it. I knew it was a high return, high risk investment. When CD’s were paying 3-4%., and we were getting around 8% ,there is an abnormal amount of risk. There were no guarantees.

    I also agree with Hoot, “A fool and his money are soon parted”

    • To “intrepid.”

      If “Robert Bauer” is me, I have no talking points. Assuming
      the maximum time that KGO has for any story on the TV news
      is 7 minutes, and the usual time is significantly less, there is
      not enough time for an investor to dwell on talking points.

      Part of KGO’s primary goal must be, “We have it first.” A
      secondary goal must be, “We got it right.” So the seven talking
      points suggested by “Take It Back” in the top post should be
      part of KGO’s story.

      If an investor decides to participate with a personal story, then
      the second post from “Take It Back,” to “simply rely on your
      ownself,” makes sense in the context of a short TV news
      story.

      I am, of course, totally opposed to a short TV news story about
      something this complex. I think that it is unlikely that KGO will
      “get it right.”

    • P>S> Robert Bower is not an idiot but like many of us trusted the Ng clan to invest our money wisely ans safely. Walter even commented at a town hall meeting last year He was unaware of what Barneys was doing in regards to several investments.

    • Robert Brower is far from an “idiot” – please … he has been most helpful and is extremely well informed about the issues. I do not know who you are, but realize you may be new to trying to work this forward. I will not go on about Robert’s contributions, but ask that you do not add comments to the site that are derogatory to those who are trying to move us forward.. unless you have some well-founded information.

      We are all aware of the risks with any investment, but believe that there was not due diligence done here in many areas…

  4. While I follow the blog, I have never posted. The conversation about KGO is making me comment! Having spent my working years as a public relations and marketing executive I read with great concern the comments posted by KEEP IT MUM. If you decide to tell the investigative reporter your story, and I hope many people do, just do exactly that. Dont present data or talking points.

    The reason KGO is interested is that obviously one or more people have piqued their interest. The talking points on this blog and from other sources is part of the INVESTIGATION and that is what they know how to do!

    Our human interest stories are very powerful and the most important contribution anyone can make to exposing the Ngs and company. You can put a face, a voice and a real person who has lost their money onto their investigation. That is what we know how to do!

    • Again, let KGO do their job and let’s not worry about how they do it. With regards to what you want to tell them and the messages you want to share, another simpler way to think about it is: How many times in your career have you gone to an interview and told the prospective employer what is of interest to you vs. how you can help them if you were offered the position?

      Everything you say will not make it on air. If you do say something that is of broad interest and to the point, it is likely it will be part of the story. Again, do not fret over how KGO does it’s story. Just tell your story and use your preparedness or impromptu thoughts.

      You can take a thirsty horse to a pond of water, but you can’t…

      • Someone has to tell the story! I agree with you KGO wants Human Interest Stories…and maytbe our thoughts and experiences with Bar-K, RELoans, and Morgage ’08 told will rattle thge Ng’s cages. I sincerely think that many of us our victims of Elder Abuse and the ng’s should be exposed. Another question my Husband and I have is who is paying the salaries and how much are they being paid. The Investors deserve a full accounting of such details.

        • We can listen to all the stories and symphatize as everyone has suffered, but at this point it is KGO who is looking for a few investors to give them their perspective.

          Steve Fyffe (KGO) has provided his contact above – 415-954-7572.

          Call him and tell him what you need to.

    • My life as i have known it was completely ruined by the Ng’s and Bruce Horowitz encouraging Investors to sink their life savings..and for many of us our Retirement Fund into their Ponzi Scheme. I clearly remember their remarks about we have never lost a dime at the

    • Steve Fyffe of KGO needs Investors to step in front of the camera and tell our side of the Bar-K. RELoans, and Morgage ’08 story. How many of us are willing to do that? If no one does the ng’s win again!

      • If you’re an investor and are not in the Bay area, you may still be able to help KGO with their story. Speak to them (number and contact on this page) and it is likely they can have you go to a local studio in your city or link you via satellite.

        Not enough investor stories/contributors = no KGO story.

        If this story runs, it will give life to many more (and hopefully before the statutes run and we find ourselves still sitting here and regretting…rest is up for imagination). If this group wants to speed the chase and cut the time-to-money, this is the least one can do.

        Now, off to what we must do and no more on this topic.

          • Why wouldn’t people want to speak up? Especially if you have lost a lot of money and it forced a lifestyle change.

            Even without a live victim talking on camera, there is still a story. But I would think people would want to discuss this, to help alert other investors, past and future, of the problem in handing your money to the Ng family.

  5. I just wanted to weigh in on the current conversation.
    I have been away from the blog for few days for post surgical care.

    I was disinherited to see the squalbbing and name calling.

    I have a suggestion. All the bolggers who think the Ng’s are doing such a great job, go down to the office and volunteer your time. Start you own blog and relate the rest of us what the CRO and Ng’s are doing to salvage the situations.

    I for one look forward to your posts. Let us in on the grand stagey and what great move the CRO intends to make going forward.

    Meanwhile I will continue to uncover the basis of a fraud suit mismanagement, self dealing and theft. I have only been working to develop the facts and post them on the blog.

    Sometimes someone offers a correction or a clarification but most of them time the facts stand. They are stacking up.

    1.Neither Barney or Kelley falsely represented they had appraisers licenses
    2.None of the BAR-K management met the minimum standard for due diligence when making loans to failed developers and felons.
    3.LOAN AO97- TUMWATER BREWERY-WELL B NG llc
    $25 million dollar loan to Lowry Eric Whetstone (He has a rap sheet a mile long)
    5.http://www.houblon.net/spip.php?article3527
    6.Loan A109-496 ACRES OF LAND NEAR SALT LAKE UTAH
    7.$5.6 million dollar loan to John E. Worthan who in 1997 plead guilty to tax evasion he did 33 months in prison
    8.https://barkinvestors.wordpress.com/category/loan-a0109/
    9.http://www.justice.gov/usao/ut/press/releases/Worthen%20final.pdf
    10.http://vlex.com/vid/securities-exchange-commission-worthen-36122126
    11.SIENNA HOTEL RENO NV
    Spent over $50 million dollars which was then run into the ground by Barney Ng and was eventually sold at bankruptcy auction for a little over $3 million.

    • 1.Neither Barney or Kelley falsely represented they had appraisers licenses

      Do you mean that or did you mean that they DID falsely represent they had appraiser’s licenses?

  6. They did falsely represent to us they had appraiser liscenses.
    The Bar-K title page on the web states:

    “Bar-K, Inc. is a licensed real estate company owned and run by Barney Ng & Kelly Ng. Bar-K, Inc. originates and services all loans funded by both R.E. Loans LLC and Mortgage Fund ’08 LLC. Bar-K, Inc. began in 1975 and has had over 35 years experience in the business. Besides being real estate brokers, both Barney and Kelly are licensed real estate appraisers. Bar-K, Inc. is also responsible for managing any assets (real estate owned) the funds may acquire.

    • Just wanted to make it clear – because your intial post in Para. 1 said that “Neither” of them falsely represented they were licensed appraisers when in fact BOTH apparently falsely represented they were licensed. Right????

      • What is the penalty or risk of misrepresenting ones self as a certified real estate appraiser? Could it lead to a criminal investigation and possible criminal charges/penalties? Or is it something they just get scolded for, and told not to do that again?

  7. I have been an a Bar K investor since the 70’s. Like you my retirement has taken a traumatic change. Tried contacting Steve Fyffe and discovered he is no longer with KGO. Message was left for his replacement but no return contact received.

  8. Just a thought. Every person I have ever known who has been involved in a money management scheme has been burned. The only people who have gotten back everything they invested in a real estate investment deal did this.

    One of them ( a woman investor) took over the management of the company. She actually ran it, hired people to fix things up, and sold the properties so no one lost anything. They just barely made it all back.

    They did not sue the original creator of the business but they essentially forced them out so she could take it over. I am sure suing would provide great satisfaction. I am not sure if that is the goal or if the goal is to recover as much as possible for the investors because the best strategy may depend on what the goal is.

  9. The Managers of the fund may be removed by a vote of a majority in interest of the fund. (Those may not be the exact words but they’re close enough).

    That means that those who hold the majority of the value of the fund control it and can oust the management.

    Guess who controls the ‘majority’ of the value of the fund?

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s