Jed0208@att. net
Jeannie Davis
818 388 2854
Sent from my iPhone
On Aug 5, 2019, at 1:47 PM, Christine Bugas <chrisbugas@xxxxxxxxx> wrote:
Please send your email mobile or home phone and a good email to chrisbugas@
Gmail.com
On Mon, Aug 5, 2019 at 11:38 AM Glen Johnston <glen.johnston@xxxxxxxxxxxxx>
wrote:
Hi Chris, So are we going to continue the fight, Which is now, the fight to
go after American Equities, that has everything not turned over to the
receivership, and Ross's personal assets ? Is anyone planning on getting
everyone together to see where to go from here? Are there certain names at
the Attorney Generals office we should send our info to? I know you have
given the name for the securities commission. Who else would there be? FBI
and who do we call there.
Is Anyone finding out how many folks are wanting in the group and how much
money has been raised? Hopefully there's something we can all do to move
forward! Or are we all S.O.L?
-----Original Message-----
From: Christine Bugas
Sent: Aug 4, 2019 10:56 PM
To: aem-vanc@xxxxxxxxxxxxx, ross miles
Subject: [aem-vanc] Re: aem-vanc Digest V1 #13
Sent from my iPhone
Begin forwarded message:
From: Cbugas <chrisbugas@xxxxxxxxx>
Date: July 4, 2019 at 9:56:08 AM PDT
To: chrisbugas@xxxxxxxxx
Subject: Re: [aem-vanc] Re: aem-vanc Digest V1 #13
Of note, in the meeting with Hamstreet at the RedLionInn-- I wrote a note
that it was said that if your investment was placed after American Equities
date of insolvency, then you need to get a lawyer.
That was in response to questions in re whether we each need to get
individual representation.
Debt/asset compounded as did interest. Foreclosures post 2008 needed
payment of back taxes and payments of assets' money requirements to retain
ownership of the contracts. Checks were discussed by me with MaryCarol,
Ross's sister and secretary after the receivership was requested once Ross
could not figure a way to turn this around.
The issue is lying. What words of assurance were given with intent to get
cash that were untrue? For instance: in email did Ross say "this is a
great deal!" When, in fact, Ross understood he was lying.
In the age of Trump, grifting, making private gains at the expense of
groups he has deceived, is the simplicity of Ponzi scheming. This is not
multilevel management.
This is not a pyramid corporation.
Ross did a lot of money making through his career. He hadn't a hint of
failure . He was and is a salesman.
I sold Christmas trees with him in college. We were in first through 12th
grades together through Star of the Sea grade school and Star of the Sea
high school in Astoria , Oregon. His mother and father and sisters and
children and ex wife and current girlfriend and grandchildren and friends
know how brilliant and kind Ross is.
But what I believe is that Ross failed at communication. He got in trouble
after 2008. After that he slid down the slippery slope of cheating.
He could have said to all these beautiful investors I have met that "I'm in
a squeeze financially. Can you work with me? If you receive no interest
for a while -- I will buy back all these foreclosed contracts, pay their
back taxes , and American Equities pools can wait collectively on payouts
while the economy improves. ". People would have worked with you. They
were loyal as only you can be if every contract paid out on time like
clockwork.
That would have been honest. Telling investors "I'm in a squeeze". Even
bankruptcy. Understandable. And your investors-- a great group, BTW,
would likely have helped out where possible. I know we were in it for the
long term. We reinvest everything and don't receive any regular checks
from Pools.
But you did not level with investors. You knew since 2008 that you could
not recover. You put your finger in the hole in the dike but it was
unsustainable. You started off innocently enough but it was unsustainable.
The deadly sin is lying. Saying we should get into American Eagle
(American Equities) as we rolled the money from a successful venture to
this, these unsuccessful pools--was a quick offload from us into the
payouts of other pool members payouts.
I never understood pools. Except that they are similar in organization to
what caused the 2008 financial crash: collateralized debt obligations,
CDL's.
So, Ross, like all human beings-- had temptation to greed. He formed pools
of money which were on paper but not in any black-letter law.
That is important-- the protocols needed to oblige black letter law. Ross,
I think you probably tried 17 hours a day to make this latticework of
complexity work.
The reason it's a Ponzi is that it always required lying to new investors.
So,as Hamstreet said at the Red Lion Inn, it matters when the pools were
insolvent. If you bought in when American Equities was insolvent you may
be out of luck.
Hamstreet was reported to have been hired in April 2018. But MilesMinsker
said for the interview w the Columbian newspaper out of Vancouver, "we
never recovered after 2008; not even close".
In 2017 a law suit was filed against American Equities for failure to pay
out a contract that had come due.
So Ross, you've known since 2017-- when we gave you money for Parkland --
that the pools were insolvent. But you never mentioned it.
We found it out from Hamstreet in May of 2019. Man are you good at keeping
a secret, Ross!
Even now we invest in Estates at Parklands. It is exactly as it was
represented to us by Ross said it was to this point.
I have been asssured future funds are to come with the 2017-2021 contract
dates. We are carefully watching, but we did get a number of checks .
Our investment, though much longer a term than he initially promised, - has
paid back some principal, with promises of interest over the period when
lots at The Estates at Parkland are to be sold in the unforeseen future.
My advice on this deal, Ross, is if you don't sell those properties fast
enough-- don't lie about it. Work with your investors.
That said, it is the 4th of July and I am going to a Springsteen -themed
band performance-- eat my brains out, then dance at a 70th friend's
birthday.
Sieze the Day 7/4/2019
Chris bugas
Sent from my iPhone
On Jul 4, 2019, at 8:00 AM, Paty <pat.witt@xxxxxxxxx> wrote:
Trey
At the meeting with Hamstreet and staff on May 30 The Red Lion hotel
Hamstreet told the entire AEM group his charge per m hour is $550. His 2
CPA's in office were $350 hour each and the 2 Attorneys also present from
Seattle...Miller Nash Firm were $600 and $700 per hour.
I'm not sure if he gave us all this information before or after telling us
we would be lucky to get 20 to 25% on the dollar.
We hope and pray you can help us in any way.
Pat Witt and Bob Kalmbach
Sent from my iPhone
On Jul 3, 2019, at 10:27 PM, Julia Pond <juliapond@xxxxxxxxxxx> wrote:
I will sign also. Sent you mail with my info.
--
Julia Pond
juliapond@xxxxxxxxxxx
On Wed, Jul 3, 2019, at 10:07 PM, FreeLists Mailing List Manager wrote:
aem-vanc Digest Wed, 03 Jul 2019 Volume: 01 Issue: 013
In This Issue:
[aem-vanc] Re: Status of current objections to Receivership
[aem-vanc] Re: Status of current objections to Receivership
[aem-vanc] Re: Status of current objections to Receivership
[aem-vanc] Re: Status of current objections to Receivership
----------------------------------------------------------------------
Date: Wed, 3 Jul 2019 07:26:08 -0700
Subject: [aem-vanc] Re: Status of current objections to Receivership
From: Gay Maclellan <gay@xxxxxxxxxx>
We will be a part of your request.
Robert and Gay MacLellan
PO Box 61467
Vancouver, WA 98666
360-609-7330
gay@xxxxxxxxxx
Gay MacLellan
Cell Phone:
360-609-7330
Medford Office Address:
3126 State St. Ste. 200
Medford, OR 97504
Vancouver Mailing Address:
PO Box 61467
Vancouver, WA 98666
On Jul 2, 2019, at 4:28 PM, treytennyson3 <treytennyson3@xxxxxxxxx>
wrote:
Good afternoon, fellow investors. My name is Trey Tennyson. My
mother and I have very large investments in the AEM 600 fund, but no
others.
I am a recently retired trial attorney from Vancouver. As I relocated
to Arizona a few years ago, I hired Vancouver attorney Tim Dack to
represent my interests in the AEM receivership.
After reviewing the legal documents (pleadings) that American Equities
filed with the court to start the receivership, I became convinced that
the receivership had been improperly started. The documents that were
filed with the court showed that American Equities (as Manager of each
of the different funds) had made what is called an assignment of assets
to the Receiver in favor of its creditors. This is a fancy way of
saying that American Equities simply transferred our assets to a third
party who will now act as our new fund Manager. Unfortunately, this
new Manager (the Receiver) wants to be paid $500 per hour and wants its
attorneys (((Miller Nash) to be paid $500 per hour. These fees are
well in excess of the .50 percent management fee we were paying to
American Equities.
As you all know, each fund is set up as a separate Washington Limited
Liability Company(LLC). The investors in each LLC became its members
and also its creditors. LLCs in Washington are governed by statutes.
The most important statute relates to member voting rights, and
provides that ALL members must consent to any dissolution (dissolving)
of the LLC or to any action of the LLC Manager which is outside the
ordinary course of business of the LLC. The receivership would
effectively dissolve each of the LLCs and it is clearly not part of the
normal course of the business which is managing real estate investmen
Last week, Tim Dack filed an objection to the Receiver`s request for
compensation (including attorneys fees, receivers fees, accountants,
etc) on the grounds that the LLC investors did not vote to approve the
receivership and it is therefore illegal. We also onjected on the
grounds that the receiver and his attorneys were requesting that they
be paid different amounts of money from each LLC for work that they
claimed benefitted each fund equally. This could cause some funds to
pay far more than their fair share and hurt the investors in these
funds.
My mother and I were the only investors to file an objection to the
Receivers request for compensation. However, I am sure many of you
share these same concerns and would agree with these positions. None
of us voted to set up an expensive receivership. What we need is a new
Manager of the LLC funds who is competent , will work for a reasonable
fee and can gradually liquidate the funds in the way that returns the
most money to the investors.
As a result of our objection, the Receiver will have to file a legal
motion and set a hearing in front of Judge Gregerson. This will be
done in the next week or two and the hearing will likely be in late
July.
The Receiver has also scheduled a hearing in July where he is
requesting approval from the Judge to sell property owned by all the
LLCs. We are objecting to this request because the receivership was
not properly approved by the investors.
My attorney has requested that I find other investors in the AEM 600
fund and the other funds who will join in writing and support our
objections. This will show the Judge that many investors object to
the receivership and the sky high fees that come with it. If you are
willing to sign such a statement, please email me with your name,
address and telephone and either myself or my attorney will contact
you. With our combined effort, the Receivership can be terminated
and a new Manager properly appointed that will return a much larger
amount to the investors.
Trey Tennyson
treytennyson3@xxxxxxxxx
Sent from my Galaxy Tab A
------------------------------
From: Paty <pat.witt@xxxxxxxxx>
Date: Wed, 3 Jul 2019 07:35:16 -0700
Subject: [aem-vanc] Re: Status of current objections to Receivership
U so FUNNY
Sent from my iPhone
On Jul 2, 2019, at 10:01 PM, Neil & Marilyn <nmr1311b@xxxxxxxxx> wrote:
So who's talking Troy or Trey? Should I find it confusing? Yes :-)
On Tue, Jul 2, 2019 at 9:58 PM treytennyson3 <treytennyson3@xxxxxxxxx>
wrote:
Thanks for the support. Either Tim or I will be in touch soon.
Trey
Sent from my Galaxy Tab A
-------- Original message --------
From: "Troy Rendon(Redacted sender "trendon74" for DMARC)"
<dmarc-noreply@xxxxxxxxxxxxx>
Date: 7/2/19 7:20 PM (GMT-07:00)
To: aem-vanc@xxxxxxxxxxxxx
Subject: [aem-vanc] Re: Status of current objections to Receivership
Thank you Trey. I’ll join in signing in support of the objection
Troy Rendon
3512 E Mill Plain Blvd
Vancouver, WA 98661
360.281.4216
Sent from my iPhone
On Jul 2, 2019, at 4:28 PM, treytennyson3 <treytennyson3@xxxxxxxxx>
wrote:
Good afternoon, fellow investors. My name is Trey Tennyson. My
mother and I have very large investments in the AEM 600 fund, but no
others.
I am a recently retired trial attorney from Vancouver. As I
relocated to Arizona a few years ago, I hired Vancouver attorney Tim
Dack to represent my interests in the AEM receivership.
After reviewing the legal documents (pleadings) that American
Equities filed with the court to start the receivership, I became
convinced that the receivership had been improperly started. The
documents that were filed with the court showed that American
Equities (as Manager of each of the different funds) had made what is
called an assignment of assets to the Receiver in favor of its
creditors. This is a fancy way of saying that American Equities
simply transferred our assets to a third party who will now act as
our new fund Manager. Unfortunately, this new Manager (the
Receiver) wants to be paid $500 per hour and wants its attorneys
(((Miller Nash) to be paid $500 per hour. These fees are well in
excess of the .50 percent management fee we were paying to American
Equities.
As you all know, each fund is set up as a separate Washington Limited
Liability Company(LLC). The investors in each LLC became its
members and also its creditors. LLCs in Washington are governed by
statutes. The most important statute relates to member voting
rights, and provides that ALL members must consent to any dissolution
(dissolving) of the LLC or to any action of the LLC Manager which is
outside the ordinary course of business of the LLC. The receivership
would effectively dissolve each of the LLCs and it is clearly not
part of the normal course of the business which is managing real
estate investmen
Last week, Tim Dack filed an objection to the Receiver`s request for
compensation (including attorneys fees, receivers fees, accountants,
etc) on the grounds that the LLC investors did not vote to approve
the receivership and it is therefore illegal. We also onjected on
the grounds that the receiver and his attorneys were requesting that
they be paid different amounts of money from each LLC for work that
they claimed benefitted each fund equally. This could cause some
funds to pay far more than their fair share and hurt the investors in
these funds.
My mother and I were the only investors to file an objection to the
Receivers request for compensation. However, I am sure many of you
share these same concerns and would agree with these positions. None
of us voted to set up an expensive receivership. What we need is a
new Manager of the LLC funds who is competent , will work for a
reasonable fee and can gradually liquidate the funds in the way that
returns the most money to the investors.
As a result of our objection, the Receiver will have to file a legal
motion and set a hearing in front of Judge Gregerson. This will be
done in the next week or two and the hearing will likely be in late
July.
The Receiver has also scheduled a hearing in July where he is
requesting approval from the Judge to sell property owned by all the
LLCs. We are objecting to this request because the receivership was
not properly approved by the investors.
My attorney has requested that I find other investors in the AEM 600
fund and the other funds who will join in writing and support our
objections. This will show the Judge that many investors object to
the receivership and the sky high fees that come with it. If you
are willing to sign such a statement, please email me with your name,
address and telephone and either myself or my attorney will contact
you. With our combined effort, the Receivership can be terminated
and a new Manager properly appointed that will return a much larger
amount to the investors.
Trey Tennyson
treytennyson3@xxxxxxxxx
Sent from my Galaxy Tab A
------------------------------
Date: Wed, 03 Jul 2019 07:49:45 -0700
Subject: [aem-vanc] Re: Status of current objections to Receivership
From: treytennyson3 <treytennyson3@xxxxxxxxx>
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------------------------------
From: "Neil & Marilyn" <nmr1311b@xxxxxxxxx>
Date: Wed, 3 Jul 2019 11:29:10 -0700
Subject: [aem-vanc] Re: Status of current objections to Receivership
Thanks Trey. Neil Rylander 360 903 0055, 1311 NW 131st Way, Apt B,
Vancouver, WA 98685 Please add me to your list. Thx. Neil
On Wed, Jul 3, 2019 at 7:49 AM treytennyson3 <treytennyson3@xxxxxxxxx>
wrote:
Thank you. I will be back in touch after speaking with Tim Dack. Have
a
good July 4th!
Trey
Sent from my Galaxy Tab A
-------- Original message --------
From: Gay Maclellan <gay@xxxxxxxxxx>
Date: 7/3/19 7:26 AM (GMT-07:00)
To: aem-vanc@xxxxxxxxxxxxx
Subject: [aem-vanc] Re: Status of current objections to Receivership
We will be a part of your request.
Robert and Gay MacLellan
PO Box 61467
Vancouver, WA 98666
360-609-7330
gay@xxxxxxxxxx
Gay MacLellan
Cell Phone:
360-609-7330
Medford Office Address:
3126 State St. Ste. 200
Medford, OR 97504
Vancouver Mailing Address:
PO Box 61467
Vancouver, WA 98666
On Jul 2, 2019, at 4:28 PM, treytennyson3 <treytennyson3@xxxxxxxxx>
wrote:
Good afternoon, fellow investors. My name is Trey Tennyson. My mother
and I have very large investments in the AEM 600 fund, but no others.
I am a recently retired trial attorney from Vancouver. As I relocated
to
Arizona a few years ago, I hired Vancouver attorney Tim Dack to
represent
my interests in the AEM receivership.
After reviewing the legal documents (pleadings) that American Equities
filed with the court to start the receivership, I became convinced that
the
receivership had been improperly started. The documents that were filed
with the court showed that American Equities (as Manager of each of the
different funds) had made what is called an assignment of assets to the
Receiver in favor of its creditors. This is a fancy way of saying that
American Equities simply transferred our assets to a third party who
will
now act as our new fund Manager. Unfortunately, this new Manager (the
Receiver) wants to be paid $500 per hour and wants its attorneys
(((Miller
Nash) to be paid $500 per hour. These fees are well in excess of the
.50
percent management fee we were paying to American Equities.
As you all know, each fund is set up as a separate Washington Limited
Liability Company(LLC). The investors in each LLC became its members
and
also its creditors. LLCs in Washington are governed by statutes. The
most important statute relates to member voting rights, and provides
that
ALL members must consent to any dissolution (dissolving) of the LLC or
to
any action of the LLC Manager which is outside the ordinary course of
business of the LLC. The receivership would effectively dissolve each
of
the LLCs and it is clearly not part of the normal course of the business
which is managing real estate investmen
Last week, Tim Dack filed an objection to the Receiver`s request for
compensation (including attorneys fees, receivers fees, accountants,
etc)
on the grounds that the LLC investors did not vote to approve the
receivership and it is therefore illegal. We also onjected on the
grounds
that the receiver and his attorneys were requesting that they be paid
different amounts of money from each LLC for work that they claimed
benefitted each fund equally. This could cause some funds to pay far
more
than their fair share and hurt the investors in these funds.
My mother and I were the only investors to file an objection to the
Receivers request for compensation. However, I am sure many of you
share
these same concerns and would agree with these positions. None of us
voted
to set up an expensive receivership. What we need is a new Manager of
the
LLC funds who is competent , will work for a reasonable fee and can
gradually liquidate the funds in the way that returns the most money to
the
investors.
As a result of our objection, the Receiver will have to file a legal
motion and set a hearing in front of Judge Gregerson. This will be
done in
the next week or two and the hearing will likely be in late July.
The Receiver has also scheduled a hearing in July where he is requesting
approval from the Judge to sell property owned by all the LLCs. We are
objecting to this request because the receivership was not properly
approved by the investors.
My attorney has requested that I find other investors in the AEM 600
fund
and the other funds who will join in writing and support our objections.
This will show the Judge that many investors object to the receivership
and the sky high fees that come with it. If you are willing to sign
such
a statement, please email me with your name, address and telephone and
either myself or my attorney will contact you. With our combined
effort,
the Receivership can be terminated and a new Manager properly appointed
that will return a much larger amount to the investors.
Trey Tennyson
treytennyson3@xxxxxxxxx
Sent from my Galaxy Tab A
------------------------------
End of aem-vanc Digest V1 #13
*****************************