21 thoughts on “KGO Story on Walter & Kelly’s Sentencing”
who do I contact to be included in the class action suit. I never hear anything and I know that my $350,000 is not a large amount for lawyers, but it’s my retirement fund.
I too would like to join in a class action suit. My $400,000.00 is not a lot to many people but a lot to me. My whole retirement and grandsons.education.
We would also like to be included in the class action suit we have all of our retirement funds and savings which totaled $1.4 million. Please let us know whom we should contact.
The Dan Noyes/KGO I-Team report was excellent! He hit all the bases. I hope he will cover the SEC and class action lawsuits. It was amazing how Dan included Kelly’s check to the Brantley school for $25K in 7/2//2008 from Mortgage Fund LLC account. It’s pretty likely the other people that wrote letter’s to Judge Hamilton on Kelly’s behalf got the same treatment. They probably also never invested in RE Loans, RE Reno or Mortgage Fund 2008. Kelly has been hiding our investment CA$H for years, he only got caught for the last 4 years.
My husband and I are very grateful to Dan Noyes/KGO I -Team for his coverage of RE Loans/Mortgage Fund 08. We are also devastated by our financial losses and wish the FBI had not dropped the ball regarding prison time for the Ngs. I don’t care how “wonderful” they are, they are criminals and should be punished according to law, which did not happen. Karma is very powerful in the Chinese world, may their Karma come back to haunt them.
The FBI didn’t drop the ball.
From the report, “The investors believe the FBI did its job well, but that federal prosecutors dropped the ball and let the clock run out on the most serious charges.”
One has to wonder about Maureen C. Bessette, United States Attorney.
Rather than perform her duties in a timely and efficient manner, it almost appears as if she’s supporting the Ngs. Not only did she allow the statute of limitations time to expire, thus precluding further criminal charges/action against the Ngs and dumping two years worth of work by the FBI, she went so far as to send the court a formal document to prevent any of the investors from speaking during the sentencing hearing to refute the many pages of character references submitted on behalf of Kelly Ng.
Is she simply that bad at her job or is there something else going on?
Perhaps it’s time for some superior investigative agency take a deeper look at her.
I’m curious as to why everyone thinks that the statute of limitations has expired on the Ngs and Horwitz’s criminal acts. It appears to me that the following federal statutes carry a SIX (6) year statute of limitations:
15 U.S.C. 77x (Securities Act violations)
15 U.S.C. 78ff(a) (Securities Exchange Act violations)
15 U.S.C. 80a-48 (Investment Company Act violations
15 U.S.C. 80b-17 (Investment Advisers Act violations)
18 U.S.C. 1348 (securities and commodities fraud)
That would seem that there is still time for them to indict the Ngs if the US attorney so desired. Why they haven’t is a mystery to all of us.
Please correct me if I’m wrong.
I received a “grantor letter” from Faulkner, but it is not a K-1. My accountant would not include it in my 2013 tax return. There is an official form that is three pages in length. Faulkner is not sending the necessary K-1 forms, just holding us off, and these letters, I assume everyone has received, are not acceptable by the IRS. The official K-1 forms specifically state K-1.
What else is new?
Everyone who is an investor as defined in the class action complaint is a member of the class action lawsuit. If the class is certified (I haven’t looked at the court file or website to see if this has happened) and a settlement is reached each of you will get a notice and a chance to opt out if you have some reason to do so.
thanks for the class action information…good to know there is still something going ..Our government agencys have certainly been in no hurry to provide any information.or help. and there are a lot of us that have lost our life savings..
As is always the case, the rich get SIME of their money back. The middle class (my family) gets nothing. And I guarantee the lawyers got all they asked for. I saved on my public works blue collar job every week for 22 years so my wife and I would have a stable retirement. The Ngs and Wells Fargo Foothill took all that away. There will be no travel in our future. No money for our grand children’s college. Our home was once paid off but we took a second mortgage to invest with the Ng family. Barney and his thieving family stole it all. I ended up having major ulcer emergency surgery. My wife still works because I cannot. They took more than money, they stole our future, our pride, and our security. But of course our small investment ( $300,000.00) compared to the millions taken from the very rich will get little or no attention. My megar retirement is not enough to barely pay for health care, which I have been in need of lately. Our Golden years are now going to be made of lead. Curse the day I trusted Walter and his disfunctional, thieving, psychopathic family. If anyone can help me recover my money please help us. I only hope I outlive those no good bastards and they are in jail when I die broke and unable to leave anything but memories to my worthy family. This is the first time in my 66 years I have truly felt hate. I don’t like the feeling but I cannot shake it. May the entire Lying, thieving, Ng family burn in Hell for eternity.
It’s about hard money lending, low leverage loans secured by titles, deeds, etc. (Walter and Bruce called this safety and security.), a ponzi scheme, lavish lifestyle and a gambling problem*. Does this sound familiar? Then Vinnie declared bankruptcy. And, if you check the court record, you will likely also find that this guy, like Walter, Kelly and Bruce, hid behind the Fifth Amendment. Sound familiar?
Vinnie likely got caught because he had 19 different bank accounts. Walter and Kelly could probably teach him the best ways to hide money and live like a king after bankruptcy. The article lists the charge of “wire fraud”. This sounds a lot like “not reporting checks properly”. It’s sad, when it comes to financial fraud and corruption, the DOJ aims low.
Note: *If you have a good attorney like Kelly, you can pretend to have a mental ailment (likely gambling or sex addiction) and use it in your defense.
.
There is another S.E.C trial coming up on July 28.2014 . this is a Civil case for financial penalties and disgorgement of wrongful profits.
If you have any information that would be of help to the SEC in their discovery of the truth.. .please contact the
Security exchange 44 Montgomery st. suite 2800 San Francisco, ca 94104 phone 414-705-2500
I understand that at the request of Senator Feinstein, Barney has been added to the list of defedants.
MAKE YOUR VOICES HEARD…WE HAVE WAITED YEARS FOR SOME JUSTICE…. THEY NEED TO PAY BACK SOME OF OUR MONEY…OR GO TO JAIL…
I DONT CARE HOW OLD WALTER IS… MANY OF US ARE CLOSE TO SAME AGE.. AND ARE NOT DOING VERY WELL WITH ONLY SOCIAL SECURITY LEFT TO SURVIVE ON..most of us lost pensions and all savings to these people.. WHERE WERE THE GOVERNMENT WATCH DOGS FOR THE PAST 30 YEARS TO ALLOW THIS……. SO far.. every government agency has failed us..hopefully they can improve on that..
Unfortunately, Senator Feinstein’s office was unable to assist us with any of our requests regarding either the SEC or justice department actions. Barney remains untouched.
Fellow investors (victims)
It is never too late to speak up about our plight.
File a complaint with the D.O.J.’s OPR, office of professional responsibility – I did http://www.justice.gov/opr. We got screwed by the U.S. Attorney, file a complaint, if enough of us complain something may happen.
You can say anything you want in the emails and obviously you can send the same email to everyone, the point is to tell something! How has this has effected your life, recount what liars they are, or whatever.
There is strength in numbers—be counted!!!!!
If we roll over nothing will happen! We were robbed by pros.
Bar-K Investors 
who do I contact to be included in the class action suit. I never hear anything and I know that my $350,000 is not a large amount for lawyers, but it’s my retirement fund.
I too would like to look into the class action suit.
I don’t expect justice, but at least want to add my voice to this.
I too would like to join in a class action suit. My $400,000.00 is not a lot to many people but a lot to me. My whole retirement and grandsons.education.
We would also like to be included in the class action suit we have all of our retirement funds and savings which totaled $1.4 million. Please let us know whom we should contact.
The Dan Noyes/KGO I-Team report was excellent! He hit all the bases. I hope he will cover the SEC and class action lawsuits. It was amazing how Dan included Kelly’s check to the Brantley school for $25K in 7/2//2008 from Mortgage Fund LLC account. It’s pretty likely the other people that wrote letter’s to Judge Hamilton on Kelly’s behalf got the same treatment. They probably also never invested in RE Loans, RE Reno or Mortgage Fund 2008. Kelly has been hiding our investment CA$H for years, he only got caught for the last 4 years.
My husband and I are very grateful to Dan Noyes/KGO I -Team for his coverage of RE Loans/Mortgage Fund 08. We are also devastated by our financial losses and wish the FBI had not dropped the ball regarding prison time for the Ngs. I don’t care how “wonderful” they are, they are criminals and should be punished according to law, which did not happen. Karma is very powerful in the Chinese world, may their Karma come back to haunt them.
The FBI didn’t drop the ball.
From the report, “The investors believe the FBI did its job well, but that federal prosecutors dropped the ball and let the clock run out on the most serious charges.”
One has to wonder about Maureen C. Bessette, United States Attorney.
Rather than perform her duties in a timely and efficient manner, it almost appears as if she’s supporting the Ngs. Not only did she allow the statute of limitations time to expire, thus precluding further criminal charges/action against the Ngs and dumping two years worth of work by the FBI, she went so far as to send the court a formal document to prevent any of the investors from speaking during the sentencing hearing to refute the many pages of character references submitted on behalf of Kelly Ng.
Is she simply that bad at her job or is there something else going on?
Perhaps it’s time for some superior investigative agency take a deeper look at her.
I’m curious as to why everyone thinks that the statute of limitations has expired on the Ngs and Horwitz’s criminal acts. It appears to me that the following federal statutes carry a SIX (6) year statute of limitations:
15 U.S.C. 77x (Securities Act violations)
15 U.S.C. 78ff(a) (Securities Exchange Act violations)
15 U.S.C. 80a-48 (Investment Company Act violations
15 U.S.C. 80b-17 (Investment Advisers Act violations)
18 U.S.C. 1348 (securities and commodities fraud)
That would seem that there is still time for them to indict the Ngs if the US attorney so desired. Why they haven’t is a mystery to all of us.
Please correct me if I’m wrong.
Does anybody have an update on when we can expect the K1 for 2013 looses in RE Loans fund?
According to Dennis S. Faulkner on February 27th, the 2013 K1s should be in the mail in two weeks.
Has anyone received their Schedule K-1s as yet? Who can we contact to request for these?
I received a “grantor letter” from Faulkner, but it is not a K-1. My accountant would not include it in my 2013 tax return. There is an official form that is three pages in length. Faulkner is not sending the necessary K-1 forms, just holding us off, and these letters, I assume everyone has received, are not acceptable by the IRS. The official K-1 forms specifically state K-1.
What else is new?
Everyone who is an investor as defined in the class action complaint is a member of the class action lawsuit. If the class is certified (I haven’t looked at the court file or website to see if this has happened) and a settlement is reached each of you will get a notice and a chance to opt out if you have some reason to do so.
thanks for the class action information…good to know there is still something going ..Our government agencys have certainly been in no hurry to provide any information.or help. and there are a lot of us that have lost our life savings..
As is always the case, the rich get SIME of their money back. The middle class (my family) gets nothing. And I guarantee the lawyers got all they asked for. I saved on my public works blue collar job every week for 22 years so my wife and I would have a stable retirement. The Ngs and Wells Fargo Foothill took all that away. There will be no travel in our future. No money for our grand children’s college. Our home was once paid off but we took a second mortgage to invest with the Ng family. Barney and his thieving family stole it all. I ended up having major ulcer emergency surgery. My wife still works because I cannot. They took more than money, they stole our future, our pride, and our security. But of course our small investment ( $300,000.00) compared to the millions taken from the very rich will get little or no attention. My megar retirement is not enough to barely pay for health care, which I have been in need of lately. Our Golden years are now going to be made of lead. Curse the day I trusted Walter and his disfunctional, thieving, psychopathic family. If anyone can help me recover my money please help us. I only hope I outlive those no good bastards and they are in jail when I die broke and unable to leave anything but memories to my worthy family. This is the first time in my 66 years I have truly felt hate. I don’t like the feeling but I cannot shake it. May the entire Lying, thieving, Ng family burn in Hell for eternity.
What rhymes with “Ng”? His name is Vincent Singh, just 190 investors, bilked of $20M in investments.
http://www.bizjournals.com/sacramento/news/2014/03/21/former-elk-grove-man-pleads-guilty-to-wire-fraud.html
It’s about hard money lending, low leverage loans secured by titles, deeds, etc. (Walter and Bruce called this safety and security.), a ponzi scheme, lavish lifestyle and a gambling problem*. Does this sound familiar? Then Vinnie declared bankruptcy. And, if you check the court record, you will likely also find that this guy, like Walter, Kelly and Bruce, hid behind the Fifth Amendment. Sound familiar?
Vinnie likely got caught because he had 19 different bank accounts. Walter and Kelly could probably teach him the best ways to hide money and live like a king after bankruptcy. The article lists the charge of “wire fraud”. This sounds a lot like “not reporting checks properly”. It’s sad, when it comes to financial fraud and corruption, the DOJ aims low.
Note: *If you have a good attorney like Kelly, you can pretend to have a mental ailment (likely gambling or sex addiction) and use it in your defense.
.
There is another S.E.C trial coming up on July 28.2014 . this is a Civil case for financial penalties and disgorgement of wrongful profits.
If you have any information that would be of help to the SEC in their discovery of the truth.. .please contact the
Security exchange 44 Montgomery st. suite 2800 San Francisco, ca 94104 phone 414-705-2500
I understand that at the request of Senator Feinstein, Barney has been added to the list of defedants.
MAKE YOUR VOICES HEARD…WE HAVE WAITED YEARS FOR SOME JUSTICE…. THEY NEED TO PAY BACK SOME OF OUR MONEY…OR GO TO JAIL…
I DONT CARE HOW OLD WALTER IS… MANY OF US ARE CLOSE TO SAME AGE.. AND ARE NOT DOING VERY WELL WITH ONLY SOCIAL SECURITY LEFT TO SURVIVE ON..most of us lost pensions and all savings to these people.. WHERE WERE THE GOVERNMENT WATCH DOGS FOR THE PAST 30 YEARS TO ALLOW THIS……. SO far.. every government agency has failed us..hopefully they can improve on that..
Unfortunately, Senator Feinstein’s office was unable to assist us with any of our requests regarding either the SEC or justice department actions. Barney remains untouched.
Is Kelly in jail yet?
Fellow investors (victims)
It is never too late to speak up about our plight.
File a complaint with the D.O.J.’s OPR, office of professional responsibility – I did http://www.justice.gov/opr. We got screwed by the U.S. Attorney, file a complaint, if enough of us complain something may happen.
I have also sent Emails to various national FOX TV Shows. Again who knows what may happen if enough of us speak up.
I sent to hannity@foxnews.com,kelly@foxnews.com, cavuto@foxnews.com, (greta) ontherecord.com, oreilly@foxnews.com, huckmail@foxnews.com, (heraldo). atlarge@foxnews.com, fncspecials@foxnews.com.
Also americangreed@nbcuni.com and Tony Kovaleski, tips@nbcbayarea.com
You can say anything you want in the emails and obviously you can send the same email to everyone, the point is to tell something! How has this has effected your life, recount what liars they are, or whatever.
There is strength in numbers—be counted!!!!!
If we roll over nothing will happen! We were robbed by pros.
Nancy