Anyone that wants to show up, please do. I don't kno0w how the logistics
will work for the Peach Tree Rest, but we'll.:-) Chance to exchange
thoughts and evaluate. Neil
On Sun, Jun 30, 2019 at 3:40 PM Neil & Marilyn <nmr1311b@xxxxxxxxx> wrote:
Good, if at least one of you shows it will help with being more informed,
for better or worse. :-) Neil
On Sun, Jun 30, 2019 at 3:37 PM Paty <pat.witt@xxxxxxxxx> wrote:
Neil
I already have apt Tuesday 10 am but will forward to Bob
Dang!
Sent from my iPhone
On Jun 29, 2019, at 5:20 PM, Neil & Marilyn <nmr1311b@xxxxxxxxx> wrote:
Got an email from Bob Johnson asking if I'd find a place to meet on
Tuesday. My first thought is the Peach Tree Rest on hwy 99 in Hazeldell.
Called, no ans. But, Bill, Julia, Troy for starters, can each of you be
there? Not trying to leave anyone out, just thinking a n=meeting of about 6
would work at a big, private corner table at a not busy hour. Perhaps 10AM?
Thoughts? Open to other places to meet so suggestions welcome. Neil 360
903 0055 or nmr1311b@xxxxxxxxx
On Fri, Jun 28, 2019 at 6:51 PM Neil & Marilyn <nmr1311b@xxxxxxxxx>
wrote:
Bill..I sent an email to a few others, but don't know if you received
it. Got one positive reply back right away, but about a meeting of a small
group very soon to meet to discuss the issue. I assume you live in
Vancouver/Portland? If we don't have ability to move forward without the
total of 200 on board, we still need to try and start something. Your
thought? Neil 360 903 0055 or nmr1311b@xxxxxxxxx. Thx. Neil ps got a
quick reply from Troy which was positive.
On Wed, Jun 26, 2019 at 9:52 AM William Pritchard <
drwilliampritchard@xxxxxxxxx> wrote:
Good morning, fellow AEM Investors,
While we are all trying wrap our thoughts around AEM’s problems, it
appears we are scrambling to catch up.
Because it is wise that we all have good legal representation, for each
investor to have an attorney working on this issue is inefficient and
expensive.
Would anyone be interesting in joining forces in a class action process
to pursue civil legal proceedings. I believe we are all in this together,
perhaps I’m incorrect. But if we pursue any remedy, it would wise to work
together.
With hearing from Hamstreet that there has never been no audit and no
tax filings for the last ten years, the possibility of illegal financial
accounting seems to be looming. So pursuing a class action civil suit
against AEM principles may be a feasible and aid in exposing additional
financial assets.
I am open to any thoughtful suggestions and any opportunity to get
together and redeem our investments.
We need a leader, a spokesperson and a mutually agreed upon legal team
to represent us, the investors.
I wish everyone the best in this difficult time. At the May 30 meeting
I was disheartened to see many good people in the senior years affected by
this trauma.
Let me know what suggestions and ideas you all may have.
Thank you, best regards
Bill
Bill Pritchard
drwilliampritchard@xxxxxxxxx
I would appreciate it, as I am sure you do, that our emails need to
stay private and not broadcast all over. This may impossible, be at least
we try. Thanks.
On Jun 23, 2019, at 2:48 PM, Julia Pond <juliapond@xxxxxxxxxxx> wrote:
At this rate, Hamstreet and company will bill a million by the end of
the year.
--
Julia Pond
juliapond@xxxxxxxxxxx
On Sun, Jun 23, 2019, at 2:41 PM, LARRY MANSFIELD wrote:
Julia, unfortunately I was in involved in a Ponzi scheme years ago and
it is not over yet as of a few months ago the receivership attorney had
received 2.96 million and other attorneys associated over 1.5 million and
about another half million for miscellaneous and probably received $.10
back on the dollar and the people involved in that. The master mine does
not get out of prison Until 2027 and his accomplice is out now and spent
about three or four years in prison I had checked American Equities out
with the Better Business Bureau police fellow investors and being local and
in business since the 70s I felt pretty comfortable
Sent from my iPhone
On Jun 23, 2019, at 2:22 PM, Julia Pond <juliapond@xxxxxxxxxxx> wrote:
Usually, a bankruptcy attorney is the receiver (if court-appointed in
the usual manner). They bill at about $400/hour, but would not require a
second attorney to liaise with the court, as Hamstreet does. So that is a
costly duplication of billings.
--
Julia Pond
juliapond@xxxxxxxxxxx
On Sun, Jun 23, 2019, at 1:48 PM, Troy Rendon wrote:
Hi everyone,
To add to what Eva has said, my attorney has recommended similar
advice. Going after the funds / pools may be fruitless b/c they are going
to be liquidated in receivership, etc. So what is left? The other entities
(managers, accountants, attorneys , etc) that remain. This would include
Davis
Wright Tremaine potentially b/c they wrote some or all of these contracts
for American Equities. However, he warned this would be no slam dunk.
There is no guarantee what Ross, et al is worth (if anything) and Davis
Wright Tremaine is a large law firm that has the ability and motivation to
defend itself (it could be expensive).
I’m on the fence about appointing a different receiver. I agree that
the current firm is charging very high fees and that this will get
expensive. However, I believe that would be true of any receivership. I
would like to hear more about forcing a bankruptcy and having a public
entity (the federal courts) overseeing the distribution of funds. However,
what are the risks of having a public entity overseeing a bankruptcy? I
think we need to learn more about all pros and cons of these potential
decisions.
Troy Rendon
Sent from my iPhone
On Jun 23, 2019, at 12:35 PM, Eva Johnson <los-johnsons@xxxxxxxxxxx>
wrote:
Julia,
We are in Oregon and more importantly, so is our attorney, so I do not
know if we could file for the motion to change receivership. It’s my
understanding that if we file for involuntary bankruptcy (in Oregon or
federally), it would make it easier for our attorney to intervene. In any
case, our first step should be in my opinion, to get us together and have
someone who knows tell us our options. For instance, our attorney
suggested that we should go in mass to the District Attorney’s office in
Vancouver and/or to the US District Attorney’s office in Portland. Or that
we go after the entities that are not in receivership, so the accountants
and lawyers working for AEM, along with the family.
But I am only relaying these ideas and cannot elaborate much , because
I am not that well versed in the law. So it would be better to hear these
from a lawyer.
Eva Johnson
On Jun 23, 2019, at 11:39 AM, Julia Pond <juliapond@xxxxxxxxxxx> wrote:
Yes. It changes the outcome for everyone if there is found to be
illegal activity.
The receiver also did not explain our options or procedures for
objections. He said only (and somewhat flippantly) that if we didn’t like
something we could take it up with the court.
A couple of weeks ago I contacted the FBI and made a report. I pointed
to the discrepancy between liabilities and assets as well as the amount of
money involved as evidence of a Ponzi scheme. The agent who took my report
said that the entity/situation is known to them. They could not elaborate.
--
Julia Pond
juliapond@xxxxxxxxxxx
On Sun, Jun 23, 2019, at 11:33 AM, LARRY MANSFIELD wrote:
Also at meeting at Red Lion, he was asked if he would contact or report
any illegal issues to proper authorities and his response was I am not here
to prosecute or judge illegal activities only to liquidate assets or words
to that effect were said, you are right he is representing Ross only.
Sent from my iPad
On Jun 23, 2019, at 11:15 AM, Julia Pond <juliapond@xxxxxxxxxxx> wrote:
Agreed. The current situation is neither objective nor least-cost, as
we are entitled to as creditors. We need to pursue the option to change
receiver at a minimum. I am willing to be one of the two that makes the
motion. Can your attorney file it?
My attorney is filing my objection to the notice of intent to
compensate. We have a couple of reasons in our objection, so at least the
runaway train that this has been is momentarily paused.
--
Julia Pond
juliapond@xxxxxxxxxxx
On Sun, Jun 23, 2019, at 10:13 AM, Robert Johnson wrote:
Hello,
My name is Eva Johnson, I am Robert Johnson's wife. We wrote and sent
the letter to all we could, in an attempt to get everybody together. This
list-serve is a great idea, thank for setting it up.
I think that we should pursue Julia's suggestion and file a motion to
change receivership. My husband I have been talking to our attorney and we
were told that we could also force AEM into involuntary bankruptcy
(possibly in federal court), which takes it out of the receivership and
puts it into court. We need to meet ASAP. I am not sure how to make this
happen, anyone have an idea or would want to take this on? We will have
our attorney show up and help us figure out our options. But time is of
the essence. We want to meet with as few or as many as are willing to do
so. Thank you,
Eva and Rob Johnson
On Thu, Jun 20, 2019 at 4:24 PM Julia Pond <juliapond@xxxxxxxxxxx>
wrote:
All,
It only takes a motion of two or more creditors (served and filed
within 30 days of the notice mailed to creditors) to make the court order a
meeting of all creditors to determine whether a person other than the
assignee named in the assignment should be appointed as a general receiver.
I think we ought to at least try to get someone who doesn’t have such
high fees AND get Ross’ attorneys out of this process.
As it stands, Hamstreet and the attorneys are on track to bill over a
million dollars by year end, and in any tough decision will favor Ross over
any or all of us—if it keeps the money flowing.
--
Julia Pond
juliapond@xxxxxxxxxxx
