Home News Criminal Charges Filed Against Real Estate Company At Center Of LAist Studio’s ‘California City’ Podcast

Criminal Charges Filed Against Real Estate Company At Center Of LAist Studio’s ‘California City’ Podcast

by admin
0 comment

on my podcast california city, I told the story of a small town in the Mojave Desert, where for more than 60 years salespeople sold desert land of little value to unsuspecting people. Paid Nine salespeople who committed felonies.

All defendants are affiliated with the Silver Saddle Ranch & Club, a desert resort located in California City, about an hour and a half north of LA. – Pressure sales pitch. Many of those consumers ended up spending tens of thousands of dollars on land they were made to believe would be worth more in the near future.

Prosecutors said in late May that the 83-year-old owner of Silver Saddles, Thomas Manny, one of the company’s top salesmen, Marian Duclueux, 68, and seven other former sales agents, managers, and others. and the ranch employees.

The charges include conspiracy, theft of personal property, securities fraud, and Using schemes Defrauding consumers regarding the sale of securities. All defendants have filed pleas of not guilty.

The allegations against defendants include:

“…we deliberately targeted investors from the Chinese, Filipino and Latino communities, many of whom spoke little to no English and were unable to read the sales documents that accompanied the investment. There was a free dinner, and eventually they went to Silver Saddle Ranch to give a sales presentation full of false statements.”

Ben Perez is one of over 2,000 people who have invested money in Silver Saddle.he spent a free weekend there In 2017, I ended up forking over $30,000 into a confusing desert land investment product.

He was shocked to hear the news of the criminal charges.

“We want[the salespeople]to understand how much it costs every family,” he said.

When I interviewed Thomas Manny Here’s what he told me about the early 2019 podcast: we don’t do that. I mean, that’s how I live my life. ”

My report found that the Silver Saddle land sale plan is essentially an open secret in Kern County. It had been going on for years.

Consumers filed about 30 complaints with various agencies, including the Kern County District Attorney, the California Department of Real Estate and even the Federal Trade Commission, but the company remained open in 2019.

At that time, the California Department of Financial Protection and Innovation Raided Silversaddle’s headquarters, suspended all sales operations and controlled bank accounts.agency defendant Silver Saddle, Money, Ducreux and other defendants in securities fraud and sale of ineligible securities. The case, which is a separate civil suit unrelated to the new criminal charges, is scheduled to go to trial in September.

The attorney general’s office did not immediately respond to a request for comment.

About the California City Podcast

  • Deep in the Mojave Desert lies California City, a small town with a famous and strange history. For decades, real estate developers have sold dreams here. If you buy land now, you will be rich someday. Thousands of people bought this dream. Many were young couples, hardworking immigrants looking to build a better future. However, much of the land they purchased is of little value. In this new podcast from LAist Studios, the host Emily Guerin tells a story of money, power and deception.

Do you have any questions about Southern California?

window.fbAsyncInit = function() { FB.init({

appId : '252516806593564',

xfbml : true, version : 'v2.9' }); };

banner

(function(d, s, id){ var js, fjs = d.getElementsByTagName(s)[0]; if (d.getElementById(id)) {return;} js = d.createElement(s); js.id = id; js.src = "https://connect.facebook.net/en_US/sdk.js"; fjs.parentNode.insertBefore(js, fjs); }(document, 'script', 'facebook-jssdk'));

You may also like