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Walter gets sentenced to 5 years of probation.

Kelly sentenced to 18 months in prison.

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Walter Ng Bankruptcy Status Conference Tuesday Afternoon

Honorable Roger L. Efremsky
U.S. Bankruptcy Court
1300 Clay St. Room 201
Oakland Room 201 Oakland, CA 94612

1:30 pm Tuesday, December 13, 2011

The 18 complaints have been combined to be dealt with at once.  For specific details on the plaintiffs, case numbers, who has which attorney, etc.  Some people filed without an attorney.

http://www.canb.uscourts.gov/files/12-13-11@130.pdf

RE LOANS FILES FOR BANKRUPTCY PROTECTION

RE Loans filed for bankruptcy.  While this was inevitable, no doubt, it’s still a shock to the system.  Despite the fact that it’s our money, our lives and our futures, the real bankrupt entity is the Ng Family Dynasty.  They’re morally bankrupt.  They’re ethically bankrupt.  Yet they’re still out there doing business and tricking more suckers like us out of their hard-earned savings.

Maybe Led Zepplin said it best in “When the levee breaks”

If it keeps on rainin’, levee’s goin’ to break,
When The Levee Breaks I’ll have no place to stay.
Mean old levee taught me to weep and moan,
Got what it takes to make a mountain man leave his home

Equitatus posted the following a few minutes ago: Continue reading

Siena Update

Thanks again to the inscrutable blogging superstar behind REReno for the attached document and the willingness to provide their thoughts: Continue reading

This Is Insulting

Lunacy is defined as “Insanity, especially insanity relieved intermittently by periods of clear-mindedness.”  What’s missing at the Bar-K office is the part about intermittent clear-mindedness, as evidenced by their statement below.  They certainly have the remainder of the definition covered.

REL Statement

Is Anyone Surprised?

We thought the Tumwater story was over and that we could close the book on at least one awful Ng investment.  Turns out we were wrong.  Two newspapers, the Olympian and the Tacoma News Tribune, report that the folks who purchased the brewery property through their LLC (“It’s the Water LLC”) are suing you-know-who.  It’s the Water seeks to void their $12 million purchase of the agreement and seeks a return of their $360,000 deposit. Continue reading