I have just spoken with Ross Miles. His assistant, Tanner Wideriksen
contacted me just after that meeting in Tigard last night by phone,
started talking about a report he had heard of the meeting and stated that
he wanted me to know that Ross was just a bad property picker outer, that
he made mistakes and that the 08 crash happened and the properties that
were contracts for all the pools were suddenly worth 1/2 what they thought
initially that they were worth and thus: all pools were based on
properties with little value. Ross pumped his money in and still it did
not work to make enough money to supply the monthly pay outs nor the
occasional larger cash outs. Tanner stated Ross did not have deep pockets,
there would be little assets and if we hired lawyers our money would be in
vain.
Tanner and I were again talking tonight as he had asked to meet and was
changing that to a call: said that I had too many questions and that he
was 100 percent certain that Ross was an honest broker and asked whether I
wanted to be in a 3 part conversation with him. He then dialed up Ross,
put me on hold then included me in a conversation stating that I had
quesitons of Ross and please go ahead and ask them.
I asked if he would stop the receivership and he said that he was under a
court order not to do anything to stop the receivership. He said the
receivership had gone through every asset that he has and is in the process
of selling them. He admits that his attorneys are in charge and there are
a lot of them and they expensive, more than 1 and 700 an hour and that the
receivership was the only way, when he found himself without enough income
providing contracts -- that the receivership was the only way to make the
distributions equitable in their distributions to the owners. (If any
money left after Miller/Nash and after the receivership billings)
I believe that the lawyers and the receivership are, as Trey puts it,
hastily selling everything they can -- or preparing to do it -- without
regard for, as Ross had put it -- the fact that with a little bit more
money a property might go from almost ready to support a housing
development to being ready to support a housing development with sewers and
water and all.
Today I was contacted by Julia Pond. She and her father were involved with
Ross in Mexico. In 2015 they were double crossed and it was their money
through a Mexican Pool that built a marina. They fortunately had hard
assets to tap when Ross went "bankrupt" with them so they are involved with
the law and trying to use the marina and Am Equities to be made whole.
(Did I get that right Julia?) She called him a gold plated crook.
But I digress. Ross and Tanner on the phone call that ended about an hour
prior to now, stated that they wanted me to know that I should not use
money to support any legal effort to tap his assets as he is broke and has
no assets. He said he has no boats, though in speaking with someone who
was in his home 2 weeks ago, he had 4 in the garages and a moderately large
one in the drive.
I asked Ross where the money went. He said that from 2003-2008 it all
worked well and then after, it was just a drain as all properties went to
1/2 value. When asked about Belinda Franke putting in a large sum in 2017,
he demurred. He said he could not be responsible for others in the
organization that misrepresented the pools. I asked about us, why he put
us in the Pool 600 US in 2012 if it was worthless in 2008. He said he
though it would recover, that he had perhaps been too rosey.
He said that it is all a big misunderstanding regarding the home he
recently bought Beverly Miles, his soon to be ex - wife. Notably there
is a second house near there that Ross owns, recently purchased, reported
by a real estate agent. in our listserve, Sherry Beattie.
We are in to help with the lawyers' fees. We are owed less than many of
you, just 100,000 from Pool 600, with more at stake with Parklands, But
we are supportive of the greater good, the good, for instance, for the
sweet woman who spoke from the heart last night and said she had just
20,000 left and could not afford to help out as she was entirely fleeced of
her savings. If that woman is listening I would like to say that when I am
at your age, I hope that I am in a meeting fighting for what is right as
you did last night. We are here to help you as you helped last night with
your zest for life, your clarity of speech.
Notably today on the phone call of about 30 minutes with Ross, he said that
"those folks mostly lost their interest, not their principal", that they
invested at a time when he did not understand he was insolvent. I asked
about Belinda Franke who lost many hundreds of thousands of dollars in
2017, long after 2008. He did not have a response.
Ross also said there are 2 forensic accountants he has been working with to
identify all assets and Hamstreet receivership is using Ross's cooperation
to try to get these assets on the market post haste.
But my husband reminds me that Roy Thompson last night said that to his
knowledge, there were no forensic accountants at work for the
receivership. I would wonder whether Mr Thompson or Ross is correct. At
our first mtg at the Red Lion Inn, the Hamstreet speaker, Mr. Hamstreet I
believe, stated that he was not in a position to try to figure out
culpability and had not intention of doing so. He was, rather, there to
liquidate. To sell. The receivership is costing 140,000 per month, they
need to be selling assets to get paid.
Last night Roy Thompson stated that Ross did not file for taxes in a very
long time. He may have been making little enough on paper to have been
exempt but even if exempt, you still have to file. That, together with the
skimmed off profits (from liberal interpretation of "bonus payments" as
detailed on prospectuses (sp?) could be the how and the where of the money
gathering by Ross. Roy Thompson was talking of the immense difficulty
finding the money as it likely is in Mexico and he has no experience in
Mexico and so the fact that there are no taxes filed, profits may be hidden
in foreign asset vehicles--- this was not heartening.
I asked Ross if it was possible that he spent just 3.5 million on
contracts for pool 600 and had had 26 million in investments. He said "it
is complicated and I would understand in the end after the truth comes
out".
Trey, I am wondering whether you are stopping the receivership cold or are
you just stopping the receivership with relation to pool 600? Roy the
attorney last night who lead the meeting said that the pools will have to
all be one big pool. What do you say about this? Or, perhaps you should
not be imposed upon any more than you already have with questions by me.
Good luck on August 2nd.
Mercy on us all,
Chris Bugas
On Fri, Jul 26, 2019 at 4:49 PM Trey Tennyson <treytennyson3@xxxxxxxxx>
wrote:
The investors need to come together to file a lawsuit which includes a
restraining order that prevents Ross Miles and other principals from
selling or otherwise disposing of any assets, ASAP. I guarantee that is
in the works
as we speak. I was unable to listen in on the conference. Was there a
firm there that is large enough with the experience to go after these folks
and pursue the assets through collection? If so, please give me their
name and
I am happy to speak with the head honcho and do some due diligence for the
rest of the group.
Trey
On Fri, Jul 26, 2019 at 3:16 PM Sherry Beattie <sherry@xxxxxxxxxxxxxxx>
wrote:
Hello
FYI
I emailed Chris the properties info Ross has interest in the Clark County
or has bought under a different family name this is a ranch home in
RIDGEFIED bought for his soon to be ex wife Beverly
I also emailed the address of one of his properties in Cabo. He also has
another condo in Palmilla. Near Cabo but I do not have address
I have been in touch wth someone who as told me he also has property in
East Cape that he is currently trying to sell. I think it’s land.
The friend of Ross also told me he is trying to sell a lot of his assets
and is very stressed.
His primary property in LACENTER is not for sale yet but may be on the
market shortly.
Sherry
Sent from my iPhone
On Jul 26, 2019, at 2:58 PM, Pat Witt <pat.witt@xxxxxxxxx> wrote:
AEM Investors,
Yes Bob Kalmbach and myself, Pat Witt would be ready to send $5,000 for
the attorney Pool. We agree this Pool needs to form fast. Can an email to
ALL INVESTORS get composed and sent out soon! If I can help in any way
please let me know. I don’t think I am a good candidate to compose it,
maybe Trey? I would certainly help in any other way. The phone call
yesterday was great! Thanks to the attorneys and Johnson’s big time! I did
hear a few of you comment, and thanks to you all as well for making it
there.
Of course the hearing coming up August 2 is going to be very important.
If we could get a notice out to all investors informing them of what we are
trying to accomplish and the short time frame we have.....waiting for the
hearing and hopefully getting the answer we need, the ones that can pay the
$5,000 could be ready and prepped to make the next step and hire a team of
our choice. Hamstreet will only bleed all money and we would be left with
very little or nothing. These attorneys have a strategy that very well
could work. If they were successful and we ended up with half of our
principal we all be way ahead of where we will go with Hamstreet. As Bill
Pritchard pointed out yesterday if 100 members could put up $5,000 each we
would have $500,000. The attorneys said that would be strong enough to hire
the best team. This case will take very experienced experts to unravel,
especially since no tax returns were ever filed by AEM they left absolutely
no trail. Many investors that may not know what is going on like the man
yesterday at the meeting. He admitted he was clueless and there is probably
others.
In these following days up to next Friday maybe we could find a way to
reach everyone and inform them? Time is of the essence could not be
stressed enough.
I am certainly open for comments, suggestions, anything to keep
communication open.
I feel yesterday was a ray of hope and I am willing to help in any way
possible.
Thanks !
Pat Witt and Bob Kalmbach
Sent from my iPad
On Jul 26, 2019, at 11:06 AM, Denise <dmhood@xxxxxxxxxxx> wrote:
Thank you Belinda,
Well said. Even if those that don't have several thousand dollars to
contribute Maybe even a few hundred dollars. It will all be kept track of
and paid back 1st.
The important thing to remember is that we are all in this together and
must stand strong together to have the best outcome.
Trey Tennyson is working hard on this on his own time. God bless him. And
I am sure there are a lot if others working behind the scenes.
Denise Hood
Sent from my Verizon, Samsung Galaxy smartphone
-------- Original message --------
From: bfranke <bfranke@xxxxxxxxx>
Date: 7/26/19 10:31 AM (GMT-08:00)
To: aem-vanc@xxxxxxxxxxxxx
Subject: [aem-vanc] RE: [aem-vanc] REMINDER-American Equities/Eagle
meeting—Thursday, July 25, 2019
To: Robert and Eva Johnson and their attorney from Thompson and Bogran:
I just want to thank you for having this meeting and thank your law
firm. The gentleman speaking at the meeting was very informative and had
excellent advise about our case. It was a bit hard to hear on the phone,
but we could get most of what was being said. I hope there is a recap that
can be sent to everyone also.
I would like to add that I just had an interview this morning with Robert
Kondrat from the Washington Securities Commission and they are already
investigating this case. I know Trey is following up with him by phone and
I am sure he will be getting information from more of the investors as time
goes on. He said if anyone would like to write up a chronological story of
they investment or personal relationship with American Equities or any of
it’s employees, that would be helpful. His email is:
Robert.Kondrat@xxxxxxxxxx 360 902-0503.
The most important thing I got out of this is that we are going to have
to fight for our money back. I believe the attorney’s involved so far
really want to work for us and feel confident in our case. It is going to
be necessary to get a larger law firm to head things up, but the other
attorneys can still contribute. We are going to have to trust them and be
in it for the long haul. At lease we have some hope. With the
receivership and their high fees we will be lucky to get 10% of our money
back.
Myself and my mother are on board to contribute the $5000 each and feel
this is not a substancial amount for what our recovery should be. It is so
important for everyone that can contribute to do so quickly so they can
start discovery on the assets before they are not recoverable. We do not
want to give Ross and company more time to plan for this. After the August
2nd court date we should have a direction for proceeding and we need to
all stand together in this lawsuit. I would like to ask that the
attorney’s fees be recovered in the lawsuit and damages over and above our
investments for loss interest and stress. I believe the elderly abuse
should be considered also.
I think a letter will go out telling us what to do and where to send the
money for a lawsuit. If even ½ of the investors can contribute we should
be in good shape. Hamstreet is already asking for approx. $173,000 for
1-2 months and it has only been a month so paying our own attorneys is
going to be much cheaper. We do not want a fire sale. There is still
money coming in from properties that could be utilized to pay us back if we
don’t have to pay them all out to a receiver and their attorney. I was
told by Hamstreet that there was around $100,000 in the bank and about
that much coming in monthly from property payments at this time.
Thank you again for these efforts to help all the investors to band
together.
Belinda Franke
580 364-6592
*From:* aem-vanc-bounce@xxxxxxxxxxxxx [
mailto:aem-vanc-bounce@xxxxxxxxxxxxx ;<aem-vanc-bounce@xxxxxxxxxxxxx>] *On
Behalf Of *Robert Johnson
*Sent:* Wednesday, July 24, 2019 11:47 AM
*To:* aem-vanc@xxxxxxxxxxxxx
*Subject:* [aem-vanc] REMINDER-American Equities/Eagle meeting—Thursday,
July 25, 2019
REMINDER
Dear American Eagle Mortgage investors,
My name is Robert Johnson. My wife Eva and I wrote to you previously to
gauge interest in a lawsuit against the individuals responsible for the
American Eagle Mortgage debacle. We have received inquiries from several of
you and believe there is sufficient interest to go ahead with a meeting to
explore our legal options.
The meeting is scheduled for July 25, 2019 from 4:00pm to 7:00pm at the
Oregon State Bar, 16037 SW Upper Boones Ferry Rd., Tigard, OR 97224,
Columbia Suite.
We want to address several points:
1) Selection of a legal team
2) Legal options available (presented by our legal experts)
3) How to collectively reach out to law enforcement, and other federal
and state agencies.
4) Creation of a fund pool
If there is sufficient interest, we will be ready to move ahead
immediately.
The scope of this project may require involving several law
firms. We will bring a representative from my legal team, Thompson and
Bográn, PC. We encourage you to bring your own counsel if you have one as
well. One important area we all must address during this meeting will be
anticipated costs and expenses (which would necessarily include attorney
fees, legal filing fees, depositions and other reasonable legal costs) that
would likely be incurred over the course of any litigation. As you might
expect, such costs would be onerous if incurred individually. That is
why we wish to discuss during the meeting*,* the creation of a general
fund pool to which we would all contribute to cover the legal fees and
other costs mentioned above. To this end, please bring a list of the AE
pools you belong to and how much you are owed in each. Your latest
statements or 1099’s would be most beneficial.
We look forward to seeing you at the meeting.
Sincerely,
Rob and Eva Johnson
Sent from Rob's iPad
