chrisbugas@xxxxxxxxx Here is a link to chris’s email. You can click on it and
send her your story. It would be a good idea for everyone to collect any paper
trail, emails, texts showing communication and dates for their investments.
Print this info out and keep it somewhere safe.
The best thing to send to Chris at this point is a story in chronological order
about your communication with American Equities and understandings from them
about the investments. Were your investments transferred or rolled over, etc.
We need to know when investments were made to match up to
purchases/transfers/loans etc. Names of the people you worked with and any
other pertinent info. We need to have this for any kind for a criminal
investigation and to share with the authorities.
I have the feeling there were very few properties purchased in the later years
and this money was going some where else.
Please everyone take the time to do this now and it will be very useful in the
investigation.
Thank you. Belinda
From: aem-vanc-bounce@xxxxxxxxxxxxx [mailto:aem-vanc-bounce@xxxxxxxxxxxxx] On ;
Behalf Of Denise
Sent: Wednesday, August 07, 2019 3:00 PM
To: aem-vanc@xxxxxxxxxxxxx
Subject: [aem-vanc] Re: Proposal for formation of new LLC and the end of
Receivership
Pat,
What information can I send and to whom about our investments? I am disabled
and unable to attend meetings. We started investing in 2015. I asked how they
select properties and was told by the gal that she selected them and she was
"very good"at selecting really good investments. Now we all know what a line
of crap THAT was. We were also contacted about a year or so ago to "let us know
that they had openings in a really good LLC pool if we wanted to invest more"
thank goodness we didn't have more money to invest with them!
Denise Hood
Sent from my Verizon, Samsung Galaxy smartphone
-------- Original message --------
From: Pat Witt <pat.witt@xxxxxxxxx>
Date: 8/7/19 12:50 PM (GMT-08:00)
To: aem-vanc@xxxxxxxxxxxxx
Subject: [aem-vanc] Re: Proposal for formation of new LLC and the end of
Receivership
Trey
Could you please ask Hamstreet today for the email list of all investors?
Pat
Sent from my iPad
On Aug 7, 2019, at 12:41 PM, Christine Bugas <chrisbugas@xxxxxxxxx> wrote:
Trey,Belinda says she just talked to Hamstreet and they are considering a civil
suit. Might you ask who the civil suit is against
On Wed, Aug 7, 2019 at 12:25 PM Julia Pond <juliapond@xxxxxxxxxxx> wrote:
Thanks Trey. I am willing to work on the “bird’s eye view” if that information
can be obtained.
--
Julia Pond
juliapond@xxxxxxxxxxx
On Wed, Aug 7, 2019, at 12:17 PM, treytennyson3 wrote:
Julia, I agree completely. Hamstreet is working for us and should have an
obligation to share all of the info it has discovered. I will call them today
to determine their position on this.
Trey
Sent from my Galaxy Tab A
-------- Original message --------
From: Julia Pond <juliapond@xxxxxxxxxxx>
Date: 8/7/19 11:25 AM (GMT-07:00)
To: aem-vanc@xxxxxxxxxxxxx
Subject: [aem-vanc] Re: [aem-vanc] Re: Proposal for formation of new LLC and
the end of Receivership
What would really help (for every purpose we’ve discussed) is for us to put
together a bird’s eye view of all/each of the LLCs with a timeline as to which
chunk of money went in when. That would be at least half of the picture, and
factual (we have no reason to falsify, individually or collectively).
I am trying to think of software that could create and display (in print or
online) such a thing. The closest I can come is entity-relationship diagramming
software.
But even if we could do a spreadsheet for each LLC that would put us ahead of
what Hamster is doing. (You heard me right, hamster. For a $525/hour consultant
he is a worse information manager than a damn Kelly girl.)
If we could get it into Excel, maybe there is charting capability in that
software from that.
This information would have to be collected anew, as I don’t think the proofs
of claim are online or otherwise accessible.
--
Julia Pond
juliapond@xxxxxxxxxxx
On Wed, Aug 7, 2019, at 10:15 AM, bfranke wrote:
Chris, Sure sounds like a good summarization. The quantities and qualities of
properties sure doesn’t represent the 77m that were invested by us. I know my
funds weren’t invested until 2014 and 2016 so where is the proof of properties
purchased in these years? It sure seems like there are enough
assets/trust/insurance companies to go after in a civil suit. I know there is
still the avenue of a class action suit.
I know people are not comfortable with Hamstreet, but since we are paying for
their work why don’t we use their information and then add to it from our own
investigation. We don’t need to pay someone else to do what we have already
paid them to do. The more we fight what they are doing the more it cost us in
their time. They may be finding out how crooked and criminal this scheme
really is and actually help us a bit. If we find favoritism to American
Equites we should be able to use this in our lawsuit. And why the heck are we
paying for Hamstreet and their attorney. Ross should be paying for these
costs. This needs to be included in our lawsuit. Can there be a motion on the
amount of money spent or the time it takes to get this settled? Don’t we have
a say so in the process if we are paying for it?
I talked to Hamstreet yesterday and was told they are planning to have an
auction of properties located in Oregon, Washington and one other state in
November. Why don’t they tell us this on their site?
They are also hiring an attorney in Mexico to find out our rights to recover on
those properties and they are suppose to be having a conference call the the
securities commission today. They haven’t been contacted by the FBI yet.
They said they may also pursue a civil suit at some point. Just passing on
what I was told yesterday.
I don’t know if I agree with the plan by Mr. Thompson. I think it is a good
thought, but if the properties are like the ones in the pictures we would just
be taking on a headache and a lot of costs to bring them up to be sellable.
Finding someone to do the work and their costs. The only thing of value is
the contracts that are not delinquent and are paying a monthly fee. If these
properties were of value and could be sold why didn’t American Equities do that
and make more money for themselves. As I see from properties that were
purchased there was a fee paid to American Equities for them and also continued
to take out management fees on the interest payments. More skimming of money.
And their accounting methods of determining the value of the properties are
completely wacked so you surely can trust the values given.
On top of this we still have to come up with the moneys for legal fees and
investigation. This may be more money than the investors want to put up. So
we would need a calculation of costs per investor and not all investors are
going to have any money to put up. We don’t even know if we can come up with
enough money. Going back to the class action where no one has to come up with
money. The recovery is going to be less, but there is no money output up front.
If the FBI does anything I don’t believe it will be soon. They seem to be slow
to react and do not communicate with anyone on what they are doing. I still
believe we need to get a civil suit going asap knowing that we don’t have to
wait for the receivership. Let them get what they can get and we use their
findings in addition to our investigation against Ross and affiliates in a
civil suit. If Hamstreet is working for us they have to cooperate or they
could be legally charged I would think.
I am far from an attorney and don’t know legalities, but these are my common
sense thoughts. We do have an advantage of multiple minds to brainstorm on the
best direction. Chris and Trey have already done a lot of investigation and
help on figuring things out. Maybe we can negotiate a discount for all the
work that has already been done and the ability to use Hamstreets finding and
the attorney that are already involved to help out in the case. Whether we go
with a civil suit or a larger law firm I think this should apply.
Lots of stuff, but maybe it will help in some way with our decisions. I
continue to believe we need to work together and it makes us a stronger unit
against this injustice.
Belinda Franke
From: aem-vanc-bounce@xxxxxxxxxxxxx [mailto:aem-vanc-bounce@xxxxxxxxxxxxx] On ;
Behalf Of Christine Bugas
Sent: Tuesday, August 06, 2019 11:13 PM
To: aem-vanc@xxxxxxxxxxxxx
Subject: [aem-vanc] Re: Proposal for formation of new LLC and the end of
Receivership
Genius! It preserves what can be preserved in value of assets.
These are a strange brew of trailer - trash properties perhaps purchased by
design to be farflung and a smoke screen for real assets: the businesses with
the same address as American Equities -- the "affiliated entities."
Glaring in plain sight in Hamstreets's table of unsecured loans is Ridgecrest
Development Inc, LLC -- we can see loans from AEM pools to build the
development. Makes one wonder: were the AEM mortgage pools a front all along?
Was the real MO to do development projects using pool monies as needed?
Was the reason it worked for so long that the investors in the pools were
using IRA's and reinvesting interest?
As people retired, there was the problem of new checks that had to be written
as people wanted money. The pools were used Ponzi- style for that But perhaps
the racketeers were all in on it and the real money was in the development of
housing projects with pool money. I know Tanner the assistant said Ross had
one main rule: make a mil on each housing project. Perhaps the pools were
never to buy real estate that had interest paying out to investors. Perhaps
investors were paying investors as needed and the bulk of the rest of the
money was used to construct various Ridgecrest type developments. Perhaps
the pools were planned to be Ross's bank. In conversations, he lamented that
his 5 banks dried up after -08. Perhaps we were the bank through the pools.
Perhaps the two aspects of American Equities are not separate. There were the
pools. But there were the "affiliated entities" of which Ridgecrest is one.
Hamstreet alludes to the affiliated entities' self dealing needing
investigatory work 26 Oaks, Ridgecrest, The LIghthouse, Tomoro, The Someday
Fund, Marina Mexico, Valerio's acreage...
Perhaps with time and the resources that are left from the 77 mil investment of
investors: the mother lode can be uncovered. The answer will take forensic
accountants. It will perhaps take SEC and FBI and civil suits. That will take
time.
Ross was either bad at his job or a crook. If he was a crafty crook, he used
pools and affiliated entities in such a way that he is in possession of a pot
of money.
This plan appears to buy time while kicking Ross's choice of receivership to
the side. Miller and Nash lawyering for both -- will likely hate to see their
source of payment be usurped.&nbs
