Coco Times Weighs In

Dear Media,

With the exception of Dan Noyes, where have you been and what took you so long?  This is a big story and deserves your attention.

Regards,

The Robie Family

STORY HERE:

http://www.contracostatimes.com/news/ci_26181046/local-investment-fund-accused-defrauding-investors-out-700

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Ng’s Didn’t Want Us To Talk

Didn’t have time to post this earlier today.  In a move that surprised absolutely nobody, Walter & Kelly’s attorneys filed this document in an attempt to gag us lowly investors.

Heaven forbid someone actually told the court the truth about these slimeballs  😉

Here’s a link to the filing:

Defendant Walter Ng’s And Kelly Ng’s Statement Regarding Investor Testimony

Breaking News

Walter gets sentenced to 5 years of probation.

Kelly sentenced to 18 months in prison.

Sound off.

Jail Time Coming for Walter & Kelly?

Dan Noyes on Ng’s Fate:

The charging document, “the United States of America versus Walter Ng and Kelly Ng,” says they, in effect, looted the funds by making repeated cash withdrawals. The Ng’s are charged with “structuring transactions for the purpose of evading a reporting requirement;” 11 counts for Walter, 20 for Kelly. Each count carries a possible 10 years in prison and a $500,000 fine.

Quick math:

  • Walter 11×10 = 110 years, $500,000 fine
  • Kelly 20×10 = 200 years, $500,000 fine

May they live that long to serve out their potential prison terms….

Where’s Bruce, we ask?

Courtesty KGO

Courtesty KGO

While many of us are beyond the age when a tax write off is helpful, it may provide solace for some.  John Robie’s message to everyone who got ripped off:  KEEP UP THE FIGHT.  Anyone who invested in RE Loans, RE Reno, or Mortgage Fund ’08 needs each and every one of you to stay strong and keep the pressure on.  Kudos to Brown and Bernard Wittenburg, amongst many others, for their efforts.

Finally, thanks to Dan Noyes for being the only reporter in the NATION who has stayed on top of this story.

http://abclocal.go.com/kgo/video?id=9273735&pid=9273730

“Freedom Lies In Being Bold”

The title is a quote from the author Robert Frost, which is certainly apropos as we’ve just unearthed this “COMPLAINT FOR AIDING AND ABETTING BREACH OF FIDUCIARY DUTY”.

It was filed against Armanino McKenna in the names of three brave investors who have taken on the burden of leading the charge for the greater good of the whole.

Thank you to Theodore Jones, Jeanie Kayser-Jones and (not the author) Robert Frost.

Link to Lawsuit

Sound off below and let us know your thoughts.

SEC Sues Walter, Kelly and Bruce for Fraud

By now, you’ve all likely heard the great news.  Stories are everywhere.

Here

Here

Here

and

Here (my personal favorite as it calls them “fraudsters”)

So…

What’s it mean for Mortgage Fund ’08 investors?

What’s it mean for RE Loans investors?

Does it mean anything for RE Reno investors?

Weigh in….

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