Rivertree Properties Complaint - Scammed Out Of Property

Review by lisaw on 2008-02-23
SARAMENTO, CALIFORNIA -- I owned 2.5 acres and a individual asked me if I wanted to make a lot of money developing the property, of course I agreed. This individual told me to protect myself from anyone getting hurt on the job I would need to to form a LLC and that he had people who could provide money to develop the property. I believed him an formed a LLC where he was operating manager and me member. he then transfered the LLC to his LLC borrowed $325,000 dollars and is living on the monies and not doing anything to further his agreement to develop the property.

I want him exposed so that other unknowing people will not be scammed. I am sure I am not his first victim.
Comments:2 Replies - Latest reply on 2008-02-24
Posted by tnchuck100 on 2008-02-24:
You would think that someone who has that kind of money must have had some on the ball to get it.

How could you possibly get mixed up in this without the advice of an attorney? This sounds like you gave your land away.

Additionally, if development is to be done on your land I don't think you need an LLC. The developer acquires insurance for any liability.

You definitely need an attorney now.
Posted by madconsumer on 2008-02-24:
as it does sound like you were scammed, you should have also protected yourself. seek the advice of an attorney, and possible seek a junction to halt the other person acting on your half. if you signed over the power of ownership, then you are out on a thin limb.

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