Also the Receiver’s report says that the pools have been insolvent since 2012.
It didn’t happen all at once!! There’s an example of a glib answer.
Coupled with the outright lie about the marina transaction I call BS on the
whole thing.
Everybody needs to gather emails and correspondence of what they were told by
AEM/AE staff. Everything. It should be easy to prove wire fraud, juxtaposed
with things the receiver has published. But I notice he’s pretty cagey about
who said what. I called him out on that too, saying that he needed to identify
sources of information and assets in an identifiable fashion.
It was a pretty curt email that I sent, and I copied the state investigator and
my attorney.
--
Julia Pond
juliapond@xxxxxxxxxxx
On Mon, Aug 5, 2019, at 4:50 PM, treytennyson3 wrote:
Bill, I practiced before Judge Gregerson and agree he can be glib and
condescending. I agree we all need to be committed to 2 processes. These are
(1) retaining a competent investigator to determine what assets Ross and
family have and what they are worth and (2) filing suit for fraud against
Ross and all other principals, and getting a judgement for fraud (which
cannot be discharged in bankruptcy). With the findings laid out in the Aug
1st Receiver report, proving fraud should not be difficult. I also think that
with the support of the Receiver's report we have a good shot at getting
either a restraining order or a preliminary order attaching an investor lien
to any property of Ross, Maureen and other principals.
I think we have to work diligently with the FBI to help us find where the
money went and lock up any of these companies.
We can appeal Judge Gregerson's orders but by the time the appeal is heard
most of the properties will be sold, so I think it is not cost effective.
Given the state of the loans in the pools, most are in default and properties
that secured these bad loans have to foreclosed on and sold for the investors
to get anything.
I would be happy to speak by phone or participate by phone at the next
meeting. My number is 360 904 1767.
Trey
Sent from my Galaxy Tab A
-------- Original message --------
From: Bill Pritchard <drwilliampritchard@xxxxxxxxx>
Date: 8/4/19 11:58 PM (GMT-07:00)
To: aem-vanc@xxxxxxxxxxxxx
Subject: [aem-vanc] Re: Address for Court proceeding 9 am tomorrow, 8/2/19 ?
Several particular aspects of Friday’s court proceedings to point out.
1. Judge Gregerson was more interested in the speed of the court process than
in delving into details of AEM Receivership authorization. It was very clear
he didn’t want to become too overwhelmed in the complications of a
complicated fraud case.
2. Judge Gregerson commented on perfection at the cost of the good. This was
said in a courtroom in America. Absolutely stunning to this layperson. Why in
hell is the word “perfection” coming from a judges mouth? Who’s perfect?
What’s perfect? Nothing! What he should have said was “rights” at the cost of
the good. Legal rights are what courts argue about all the time. Perfection?
Never. What arrogance.
3. I have thick original copies of AEM Subscription Agreements, Operating
Agreements and Management Agreements. Why are they so thick? Because they
determine what AEI (not AEMM) management can and cannot do. It appears that
Davis, Wright, Trumaine who wrote those glorified legal docs must have been
paid by the page. By Judge Gregerson’s criteria, each doc could be one page,
one paragraph, one sentence. “AEI as manager of those infamous LLC’s can do
anything they damn well please in all their management wisdom.”
4. With the loss of $70M dollars, the comments of a few or even a single
investor was not worth the time of day. Judge Gregerson insulted every single
investor at that hearing. Such glibness and condescension.
5. Every single investor must be actively involved in the criminal
prosecution of Ross Miles and every principle player at AEI. It is not
possible to carry out such malfeasance and fraud without almost every
employee participating, I might exclude the janitor.
6. We need to meet & deliberate on who can be pursued for compensation. What
are all their names, where are they, what do they have and determine if there
is enough money to be found to make a suit affordable, then sue everyone
involved. If the cost of pursuit is not worth it, then we have to decide not
to pursue. But before that decision is made, we need to know more.
7. Personally, I wonder if Friday's decision is worth appealing? Or even
possible. I know I invested in LLC100 for the purpose of pooling money to be
loaned out to borrowers who put up their property as collateral. That’s what
I did in the ‘90’s when I invested in single mortgages. I invested in
mortgages. I did not invest in property to be sold. I never had to sell a
property to get my investment back in the ‘90’s. Selling was the last option
to used as a remedy for collection.
Enough for now. Sorry to go on, maybe it’s therapy.
Stay in touch,
Bill Pritchard
--
*Bill*
Dr. Bill Pritchard *Pritchard Orthodontics*
Cell: 360-921-1159 Tyler S. Pritchard, DDS, MS
www.pritchardortho.com William J. Pritchard, DDS, MS
drwjp@xxxxxxxxxxxxxxxxxx 2404 West Main St, Suite 110
drwilliampritchard@xxxxxxxxx Battle Ground, WA 98604
