Relief Defendants named in the Complaint are: Marian G. Ducreux; Clifford J. Reynolds; and Wayne A. Pedersen. A receiver was appointed to take over the company assets for the benefit of the investors. Any response must be filed before the hearing. The highest water bill was $46,864 for mid-October 2019 to mid-November 2019. We continue to receive inquiries and entertain offers for the properties. Copies of the Receiver’s Motion to Approve the Sale of the Ranch and Application to Shorten Time are available in the documents section of this webpage. Join us for our annual Holiday Hike at Silver Saddle Ranch this Saturday, Dec. 12 at 11 a.m. We will hike around and learn about the history of the Holidays. I’d been reporting for over a year when the California Department of Financial Protection and Innovation filed a sweeping lawsuit against Silver Saddle, accusing it of fraud and shutting it … The Receiver has been marketing the Ranch through a real estate broker for sale since May. [19] 5 talking about this. 1. We also offer dozens of activities from archery to horseback riding, swimming and tennis. Acting on a civil complaint (PDF) filed under seal, San Diego Superior Court Judge Joel R. Wohlfeil granted the DBO’s request for a temporary restraining order barring further land sales, a freeze of all related assets and the appointment of a receiver to take possession of Silver Saddle Ranch and two affiliated entities, Silver Saddle Commercial Development and the Galileo Commercial Property Owners Association. Accelerated Assets wanted to postpone any sale of the Ranch so that the Ranch can be used as part of settlement negotiations it wishes to have with the Department of Financial Protection and Innovation. All the parties will be provided certain due diligence materials (e.g., preliminary title report, seller disclosures, etc.) Customer Service; Additional Contact Information. The Motion was opposed by Defendant Accelerated Assets and Defendant Thomas Maney. Of the four purchase offers presented for the Ranch, the Receiver has accepted an offer of $1,774,500. Lot / Land for sale. If your mailing address has changed, please email your new address to info@regulatoryresolutions.com with the subject line “SILVER SADDLE – W-2 ADDRESS CHANGE.”  If you did not opt out of electronic delivery, you can access your W-2 through the Insperity Premier website. With 120 acres of lawns, trees, streams and lakes relaxing is easy. Upon receipt of an acceptable offer(s), the Receiver will then bring the issue before the Court, August 27, 2020 – Ranch and Galileo Project Property Update. Even with the reduced water rates, we expect water will continue to be a substantial expense and all other expenses will continue – e.g., electricity, labor, and insurance. On March 13, 2020, the Receiver filed the first status report. 1 . Defendants comingled and diverted funds that had been promised to be set aside and preserved for the investors’ benefit, making it difficult to trace exactly how investor money was being spent. ft. single-family home is a 3 bed, 2.0 bath property. To be clear, the Galileo Project investors do NOT hold an interest in the Ranch property; the Ranch is owned by Receivership Defendant Silver Saddle Ranch & Club, Inc. I scanned it. The lowest water bill was $4,339 for mid-March 2020 to mid-April 2020. Insperity, the payroll provider, will issue W-2s to former employees by January 31, 2020 via either U.S. mail or electronic delivery. Instead Judge Wohlfeil treated the ex parte application as an application for order shortening time, which he granted. These expenses include water, electricity, labor, and insurance costs. We have also accepted an offer to purchase the Galileo Project vacant land for $775,500. 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