Why so shy?

This site is averaging 334 visits per day in 2011, yet only a few feel compelled to comment in any meaningful way.  334!  That’s not to mention our biggest day with nearly 900 visitors.  Do you understand that we are developing a following that is slowly turning into a critical mass?  This is progress, people.  We are making amazing progress.  The FBI?  Wow.  Pretty remarkable.  KGO?  People are taking notice.  Meanwhile, the longer we sit on our hands, keep our lips sealed, or pray to some higher power to resolve this matter on our behalf, the longer we’ll wait for some sort of resolution. 

But we’re not quite ready to pat ourselves on the back, and we shouldn’t.  334 out of 2,500 or 3,000 isn’t good enough.  We need everyone to know about what we’re up to.  We need to show strength in numbers.  We need to speak up.  So, the inevitable question is this:  What is holding you back?

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20 thoughts on “Why so shy?

  1. Perhaps I speak for others when I say that I greatly appreciate the efforts of others on “our” behalf, but don’t feel I have the knowledge/skills to contribute in a significant way?

    • You’re here, so that’s a positive, and we don’t want to diminish anyone’s presence. We do, however, want to facilitate understanding and action, so if you have questions, comments, thoughts, ideas, input…we’re all ears. Thank you for being here and joining us on this journey. We hope it will make a difference in everyone’s lives.

  2. Everyone has a piece of the puzzle.

    I truly beleve that everyone has something to contribute. Even if its just sharing your feelings.

    Maybe you have some little bit of information that we need. Maybe you overheard a side conversation at one of the dinners or meetings. Do you have a recording of
    Walters many speeches? Do you have a snap shot or photo? A note of a phone conversation where you were assured everyting was going to be all right?

    In retrospect did you feel that Bruce was pumping you to get your friends and family involved?

    I know that it is difficult to deal with all of this.
    My brother feels like such a fool. He can’t beleive that he let Bruce continually deter him from withdrawing $250K that he needed for a down payment on a house.

    The truth is, you are victims and victims always feel like they are the one who did something wrong.

    My brother has little more than Social Security to live on having invested his life’s savings in this enterprise. He cannot go back to work becuase of medical problems. He is crushed.

    Kelly, will you forego part of your salary so my brother can buy food and pay his rent?

  3. I have been holding my tongue for months. I visit the site every single day. I value the information people share. Robert Brower has been extremely diligent and forthcoming. John Robie has been willing to fill this site with details I never would have known otherwise. For too long I’ve struggled with the shame of losing so much of my nest egg, blaming myself for such an unforgivable error. I think I am finally in a place, mentally, where I can start speaking out about this issue. I finally realize it wasn’t through my own stupidity that my investment is gone. I have put my name on the FBI’s list and I have been speaking with my friends – fellow investors – about doing the same. I agree with John – we have such a great opportunity to make lemonade. Let us take advantage of this opportunity to the same extent we were taken advantage of. Thank you for listening and allowing me the opportunity to vent.

  4. I fully expect that the Ng Gang and their lawyers are trying hard to come up with a stragety to silence this blog and the main contributors to it.

    What happened to “Rsearcher”?
    Was he intimidated by the Ng Gang.
    Was he threaten with a lawsuit to shut him up?

    If anyone out there is threatened by any of the Ng Gang, let us all know asap. You have certain rights if you are threatened or sued for speaking to the FBI, press or commenting on this blog.

    Any action against you may be treated as a SLAPP suit.

    A SLAPP suit is a strategic lawsuit against public participation (SLAPP) that is intended to censor, intimidate and silence critics by burdening them with the cost of a legal defense until they abandon their criticism or opposition.

    The typical SLAPP plaintiff such as the Ng’s do not normally expect to win the lawsuit. Their goals are accomplished if the defendant succumbs to fear, intimidation, mounting legal costs or simple exhaustion and abandons the criticism.

    California Code of Civil Procedure § 425.16 provides remedies against SLAPPs by providing a quick and inexpensive defense. It provides for a special motion that a defendant can file at the outset of a lawsuit to strike a complaint when it arises from conduct that falls within the rights of petition or free speech.

    Attorneys fees are avilable if and when you prevail.

    Remember, since the FBI is involved in this investigation, report any act of intimidation to them
    immediately.

    • The only thing we have to fear is fear itself! Let’s not cry over spilled milk let’s collectfully do something about it together. We have air time on KGO and the FBI investigating the allegations. We have truth on our side!

  5. To think that our friends won’t attempt to sue John Robie, Bob Brower, Equitatus and others is wishful thinking. They will use our money to sue us in order to continue taking as much of our money as they can. Soon, though, we’ll all be living in cardboard boxes on sidewalks throughout California, so good luck getting process servers to track us down!

    • Amen to that…already living in a cardboard box..thanks to the Ngs…we went from the Penthouse to the streets believing one lie after the other to hang on Walter assured us time month after month..he said we sold a property distributions will be given soon. I doubt the FBI will give them a free pass do not go to jail to scam Investors many of us Senior Citizens…that is called Elder Abuse..and punishable by law. Kudos to Dixon colins and others who have the good sense to sue the ngs! God speed…Let’s back them up!!!

  6. Don’t you think that part of why so few are coming forward is for multiple reasons. Many of you were invested from the beginning and enjoyed great success during those years. During those years the trust and relationship grew. You watched their children grow up. You shared stories. You came together for dinners. You recommended them to family and friends. As investors we all know the risks but so many years of great success had gone by that I think many just never believed things could get so bad. You trusted them. Yes they need to be held accountable, but for many of you they became friends. Nothing is harder to handle than a friends betrayal. Many of you here are past that moment but I suspect many are still shell shocked with disbelief and have yet to get their feet under them enough to fight back.

    • I would think that fallout from the betrayal might be harder to handle than the actual betrayal part. When people are facing bankruptcy, losing their home, losing medical coverage, and unable to support their family, I do not understand how they could still be making excuses for Walter, Kelly and Barney.

      If their activity is found to be criminal, there may be some statue of limitations on filing some complaints and lawsuits, so I hope people wake up soon. Any investment company who has managed to dupe thousands of people out of nearly a billion dollars would probably be smart enough to stall and try to buy time in hopes that it would be too late for anyone to do anything, if legal proceedings were an option. Of course I’m just speaking hypothetically, since they are only under investigation at this time.

  7. Before you feel real sorry for the Ng’s consider this.

    The Ng Gang knew the business was failing in 2007 due not only to the market downturn but due to the horrible loans they made. These loans began to unravel in 2007.

    It is interesting to note that even with the handwriting on the wall in 200, with liquity problems looming, the Ng Gang paid themselves 14 million dollars plus much more from outstanding commissions.

    “For the year 2007, B-4 Partners paid themselves an annual fee of $7,109,698 to manage the fund, while Bar-K paid themselves an annual fee of $7,109,321 for loan servicing.”

    Walter, Bruce, Barney and Kelly, the B-4 Partners, split $7,109,698 and Walter, Barney and Kelly, Bar-K, Inc. split $7,109,321?

    Bruce received $1,777,330 and Walter, Barney and Kelly each received $4,147,104, just from RE Loans.

    How much did the loot in 2008 when the company was really circling the drain?

    • Is this information on fees received by the B4/Bar-K managers taken from the audit report? Where is this information coming from?

      • The fee totals come from the financial statements attached to
        the Armanino McKenna 2007 audit letter report. The complete
        report is posted on the R.E. Loans website.

        It is assumed that the B-4 Partners, Walter, Kelly, Barney and
        Bruce, as 25% owners of B-4, split the management fee 4 ways
        while Barney and Kelly, as 50% owners of Bar-K, split the servicing
        fee two ways. This is confirmed, in part, by the amount of Bruce’s
        more than $10,000,000 total investment in R.E. Loans, which
        represented 25% of the total fees 2003-2007 ($40,000,000) and his
        testimony that he invested all of his share of the management fees
        back into R.E. Loans.

        There are no audited financials for 2008.

  8. I in no way feel sorry for the Ng family, but do realize that for many it was more than just an investment. Unlike most investments that are nothing more than transactions we monitor, this investment came with real humans who for many years did everything they promised to do. Many of us liked them, but most of all we trusted them. There is no excuse that desperate people do desperate things when everything falls apart. They have to be made accountable for those choices.

    You might also consider that many of the investors are at an age that does not include the use of the internet as comfortably as we all use it. You might want to find a way to reach out to them as I am sure they also have much to say, but are not comfortable using the internet as a voice or simply don’t know how many are banding together to get this tragedy recognized and those responsible held accountable.

  9. I am one of the older investors that is just waking up. My computer skills are limited..but I am learning things about the loans that Walter assured me were safe. He renewed my investment in 2007 when the Sienna was already in trouble..

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