I-Team

Great story tonight, link to be posted shortly.  In the meantime, you can read more here:

http://iteamblog.abc7news.com/2011/08/i-team-investigates-ng-investments.html

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21 thoughts on “I-Team

  1. Thank you to all who participated in bringing this plague of fraud, deceit and lies out in the open and to the general public.

    Walter’s self serving “apology” through his criminal mouthpiece is disgraceful. He has no shame. See above the TRIPTYCH OF DECEPTION . Are they smiling tonight?

  2. Love the photo! Red roses at the Silver Dragon… a wallet full of thorns for the investors.

    Excellent coverage and I look forward to court tomorrow, and the next installment with KGO. Thank you KGO and Dan Noyes for taking on the research to present such a complex story, when no other media outlet took the time or inclination. Now that you’ve broken the story, the others will probably start taking notice.

    So sorry to hear, through Walter’s mouthpiece (who was given $50,000 of our money (so far) for a retainer,) that Walter is “distraught”. I hope that’s not putting a crimp in his golf game. It would be a shame if us pesky investors ruined Walter’s twilight years clanging at the gate for a handout, (of our own money that Walter took.) If Walter could just look around the house, or some old bank books, or offshore accounts he forgot about, and maybe he could find a few hundred million dollars somewhere — that would probably quiet down the peasant’s rabble. Perhaps it was tucked it into a coffee can years ago?

    Could it help if we all held hands in the courtroom tomorrow and sing Kum-bay-yaa to sooth Walter’s distress? Or better yet, take him out to lunch and give him warm cuddles? But since he’s got the $1800 a month food allowance, which is more than some of his investors have to live on these days, lunch is on Walter.

  3. kmum…i think i’m in love with you. Your post is fantastic, funny, i was falling off of my chair reading it. Thank you, thank you.

  4. With great gratitude to Dan, who had the tenacity and true empathy to kept pursuing this.

    And yet again, unlimited gratitude to Equi, Robert Brower, Dixon, John, and so many working in front of and behind the scenes.

    If kharma does exist,……

  5. I feel compelled to rebublish a posting yesterday. This is the reason I have worked so hard on this case.

    I invested my entire IRA funds which I earned as a retired Kindergarten teacher from San Leandro Unified School District with RE Loans. I took only the required minimum distribution by law for a number of years. My husband Al was diagnosed wi Parkinsons disease 3 years ago and needs daily day care which is very expensive. We sold our long owned home in Oakland and had to move in with our daughter in Santa Rosa so she could help with his care as a disabled person. We have nearly $400 K in limbo when our needs are the greatest because we trusted Walter. I am now 82 and my husband is 84. I doubt that we will ever recover any significant part of our life savings BUT perhaps we will experience some sense that justice will prevail somehow sometime.
    Peggy Hulse August 21, 2011 at 2:24 pm

    • Re. the Lamorinda Patch story:

      There were FOUR Partners in B-4 Partners; Walter Ng, Kelly Ng, Bruce Horwitz, and BARNEY Ng

      Please, don’t anyone forget BARNEY Ng. He was the President of Bar-K, He was the one who, without a CA State issued license, appraised the properties and recommended to loans for and to his other three partners. He got paid for the appraisals, for finding the loans, and to the borrowers for arranging the loans for them.

      And he was the one who, along with his father, perpetuated the $50 million dollar Siena Hotel fraud. BARNEY personally owned the hotel/casino and ran it into bankruptcy.

      It’s likely that BARNEY Ng took more money out of the ‘fund’, from the investors, than did the other three combined.

  6. Thank you, Dan Noyes.

    I understand that people from all walks of life lost their savings to the Ngs. The people interviewed for your news report appear to still have some wherewithall remaining . . . while many of us have been left with virtually nothing. It would do our cause good to show some who had to scrape together their meger life savings to make investments to improve their lots in life and now have nothing.

    It would also help some of us if you could report on the Siena Hotel (Reno, NV) RE Reno, LLC, One South Lake Street, LLC, Wild Game Ng, fiasco. That was a $50,000,000.00 disaster perpetrated by Barney and Walter Ng and sold to us by Bruce Horwitz.

    Again, thank you for having the initiative to be the first media personality to cast light on this very dark, bleak event in the lives of so many people whose futures have been decimated by the Ngs and Horwitz.

  7. Thank you for the comment. I’ve been looking for the type of investors you describe, who are willing to be interviewed for follow up reports — those for whom the loss of money has put them in a very difficult bind. Please email me at dan.noyes@abc.com or call my office 415-954-7485.

    Dan

  8. We hanv’t heard from the CRO on all this. His last message was July 12th, so
    if he follows past practices, “to keep you updated”, we should hear some more
    gobbledygook in September.

    I have one question for him. Did Kelly get the $50 grand from suposedly Wells Fargo locked down coffers or is it from the coffee can in the back yard? Maybe we ought to take a metal detector out to Walter’s Bethal Island property and do some prospeecting, or Kelly’s backyard.

  9. We hanv’t heard from the CRO on all this. His last message was July 12th, so
    if he follows past practices, “to keep you updated”, we should hear some more
    gobbledygook in September.

    I have one question for him. Did Kelly get the $50 grand from suposedly Wells Fargo locked down coffers or is it from the coffee can in the back yard? Maybe we ought to take a metal detector out to Walter’s Bethal Island property and do some prospeecting, or Kelly’s backyard.

  10. John Robie,

    How about posting the photos of Barney Ng and his palatial home in Orinda that I know you have.

    It seems only fair since this thread contains a photo of the other three ‘Partners’.

    • I saw a glimpse of the 6 o’clock report on preview of the news. Looks promising. Good thing it will be online later, because Kelly has those volleyball tryouts this evening, and I’m sure he won’t want to miss this one.

    • Well I stand corrected. Evidently volleyball tryouts were NOT on Kelly’s schedule tonight, because as reported on KGO, Cal did not renew his contract.

      ** deep sigh **

      I know that must have been a big disappointment for Kelly to lose something which meant so much to him. (fake tear rolling down my cheek.) It may hurt almost as much as the RE Loans investors who lost their retirement, homes, health care, or children’s college funds, because all of their money went to big cash payouts for RE Loans officers, friends and family.

      But at least Kelly still has his gold volleyball, and a house, where he can continue his “dance dance revolution” in the wee hours of the morning. Well, for now anyway.

      Here’s an article about Kelly Ng from the good old days of 2008:
      http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/02/03/CMRETRJMK.DTL

  11. Good people. You are the fuel that keep this effort going. Please go to Dan Noys web site and post a comment telling him what you think of the continuing coverage of this disaster. Just to think, a couple of months ago everyone was ready to give up. Thank you Dan Noyes, Robert Brower, John Robbie, Richard Brown all of you who have written here. Keep it up! It has been and will continue to be a long hard struggle.

  12. There are no words to express the gratitude , respect for the energy, hours and loss of time and sleep Messrs. Brower,Brown,Robie, Noyes and “The Equitatus” have devoted to this case. It brought hope to all of us deeply wounded by the lack of judgment, standards, character and ethics of Ng and Company who stole our money, future and faith in humanity . Thank you and thank the people that filed the new class action suit. To all of you angels I hope you get a beautiful night of sweet sleep.

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