Rumor

We were just informed that the Bar-K building in Lafayette was about to be sold, however, an attorney is rumored to have stepped in at the last minute to kibosh the deal.

Advertisements

14 thoughts on “Rumor

  1. In a previous post, I mentioned that Kelly Ng had transferred title
    to the Bar-K building to an LLC for his children.

    Barney Ng countered with a lawsuit. Contra Costa County Civil
    Action No. MSC 12-00003, filed January 3, 2012. Barney Ng
    recorded and filed a lis pendens. With the lis pendens on record,
    a sale would require Barney Ng’s consent to any deal.

    Meanwhile, as an update, Kelly Ng settled the sex molestation case
    and there will be no trial.

    • Thanks Robert. Interesting strategies and tactics the Ngs are using behind our backs to conceal, hide, perhaps event steal from each other and us.

      As for Kelly’s case, there are likely no winners, only losers.

  2. Is Kelly Ng living in denial? (Btw, what is happening with the involuntary bankruptcy on Kelly, Barney Ng, and Bruce Horwitz?? )

    Trying to liquidate property at this point will mostly likely be subject to clawback if the government convicts them of even a fraction of the allegations of fraud. The government can go back for a few years, undoing payouts and property transfers, including this effort by Kelly of putting the building in his kid’s names, along with other money spent on and for their offspring, who are all legally adults.

    It’s our stolen money that pays for their very expensive college educations, big wedding, horses, etc. while investors who carefully saved and trusted the Ng’s, have lost their own kids college funds. Hope the government tries to clawback as much of that as they can. Let their kids pay for their own stuff and give us our money back.

  3. Any way to uncover The Ng,s family financial assets in the Bahamas, Cayman Islands and Switzerland.
    I personally heard Walter tell a golfing friend that if he wanted to avoid US taxes he should put his
    money in the Bahamas or Cayman Islands as that was where his money was stashed away.This back
    sometime in 2007 or 08 when I played golf with Walter compliments of another investor who got me
    into investing with RE Loans.

  4. Any way to uncover the Ngs family financial assetsin the Bahamas, Cayman Islands and
    Swwhen I played golf itzerland.
    I personally heard Walter tell a golfing friend thatb if he wanted to avoid US taxes he should put
    his money in the Bahamas or Cayman Islands asb that was where his money was stashed away.
    This was back sometime in 2007 or 08 when I played golf with Walter compliments of another
    investor who got me into RE Loans.

    • Art, I hope you filled out a report for the FBI, including as much detail as you can recall about that day, who was present, when that happened, etc. If you did not receive the request for information from the FBI, we can help point you to where you should send that information so it might be helpful.

      Obviously none of us are privy to what information the government has, how the the investigation is going, and what charges might be filed, or when. And for that reason, it’s good to send anything which could be relevant. You never know what piece of information will lead to something more tangible, or help confirm something they have been looking at.

  5. Bingo!

    That’s what I’ve been saying here. Walt has shifted tons of the illegal gotten funds and moved them offshore.

    Not only places where Art mentioned, but you can bet into the Hong Kong banks and maybe into other business entities that are nothing more than a shell company and probably filed under many trading type names, no more using real estate related names, it’s a dead give-a-way.

    Walt may have also done the same in the Bahamas etal with the trading names. It gives him more financial control. He can be the president, CEO, CFO and the window washer all at the same time.

    These are the places he’s hidden the money at.

    He’s probably hired some very good tax lawyers and accountants that are well versed in doing these type of tax shelters.

    So again, even if everyone gets their multimillion dollar judgements against the Walt and his sons, it’s all untouchable by anyone in the States. You’ll need to go after them outside of US jurisdictions. Good luck!

    When Walt needs $500,000 or another $3.5MM to buy another mansion, he’ll have one of his trading companies “buy” it for him. Maribel will love a new house and merely open escrow and one of the many trading companies owed thru layers of unrelated to the Ng’s paperwork will wire the money into escrow and
    Maribel gets the keys to a new house and a his and hers brand new luxury car, also paid in full by another trading company.

    Their kids needs some money for college or to buy a ocean view hilltop palace, same thing, Walt will have one of his closely held trading company, wire the funds over, done deal.

    All your monies are held overseas as I have eluded to and now Art has the same feeling.

    Start by looking into financial transactions being sent to overseas and offshore accounts, it’s right under everyone’s noses over there.

    You want “justice”…nothing will be sweeter to all burnt investor by uncovering and unraveling the Ng’s “buried treasures” and taking back every penny you can. Do it quick and swift as you can bet Walt and his gang of crooks are keeping ten steps ahead of you.

  6. The building in Lafayette belongs to Barney. Kelly tried to steal it from him right under his nose and thought he’d get away with it. And we fell for someone THAT stupid??

    • Kelly likes things that belong to his brother Barney…particularly when they were underaged…he just settled his molestation case. What a slime ball…all of them at the bottom of the barrel…no, they are what you scrape up from the bottom of the barrel. They are filth, corrupt and criminals…all of them including sweet little Maribel.

  7. In regard to the comments that the Ngs may have stashed money in the Bahamas, Cayman Islands, and elsewhere, does anyone know if forensic accountants have been hired to find such money. Recently, I read an article in the N. Y. Times in which it was stated that in the MF Global Fund case, investigators have determined what happened to nearly all of the customer money that disappeared from MF Global around the time of its bankruptcy in October 31. The trustee in the case, deployed: “100 consultants from Deloitte and 60 forensic accountants from Ernst & Young to help sift through some $327 billion in wire transfers in and out of MF Global the month before its collapse.” (N. Y. Times, 1-31-12 “After a Delay, MF Global’s Missing Money Is Traced.”

  8. Any investigations going on now are most likely being done by the IRS, FBI and other federal agencies, who understandably don’t share their strategy and progress with us. It’s possible that some of the attorneys who have filed class action lawsuits may have employed forensics, but again, not sharing that info.

    I know others have posted that we should get right on that, which I’m sure nobody disagrees with, however, the investors are a large group of individuals with no means to communicate amongst one another, outside of this blog, so it’s not like we can take a vote and agree to hire forensic accountants on a contingency basis for a percentage of what’s found. If anyone has a lot of money left and chooses to hire forensic accountants, they might choose to keep that quiet.

    Now that the trustee is asking the court to disallow Walter’s personal bankruptcy, if approved and the court pursues the criminal aspect, the IRS would handle the investigation, and they have a lot of training and experience in this. That is all aside from the SEC and FBI investigations already underway.

    It sounds like the MF Global Fund case transfers all happened in a short period of time just preceding the collapse. The Ng’s have had over 30 years to stash money away, including the possibility of hand-carrying jewelry, cash or other investments to foreign lands and physically putting them in safety deposit boxes, so it’s probably going to be more difficult. Of course if they are all in prison, they won’t get to visit anything stashed in foreign lands. Hopefully the government will carefully track the travel and spending of their offspring in future years as well.

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