REMOVAL_OF_RECEIVER

I think this Receiver has an ulterior motive of becoming a land baron or at least making a lot of money off of our "worthless" property. He never would have taken this receivership without the inclusion of the partnerships because Western Financial alone doesn't have enough money to pay the receiver's fees. He certainly is not protecting the investor's investment as he is inappropriately buying back Western's partnership units at a $1 per unit when the "appraised" value is 10-20 cents on the dollar, and without a vote of the partnerships involved. How can a U.S. District Judge sanction actions like this?

I have sent a letter tho the SEC rep., and the Clerk of the Court, to request this action be granted, remove the GP's from receivership. I would like to retain control of my investment.

Thought this was the land of the free, how is it that we are being ripped off by our own government? I did not get into this partnership without knowing the risks, obviously we could loose our money in a bigger way in the stock market. Land/real estate, always has some value, no matter the market. It should be up to the owner when it gets sold, not some other entity, they did not buy it, we did. Unless someone informs me that our land investment was bogus and all of our invested money is gone, and we don't really own anything, then this Receiver should be brought to court to face a suit to get the money he stole from us. What kind of thief is operating in our government? Maybe a few calls to the justice department, and our congresspeople are needed.

Clearly the Receiver is intent on ultimately acquiring all the properties of the various partnerships Western Financial sold to the various partnership groups. The process is really simple. The Receiver runs up an outrageously inflated charges for presumed services rendered to the partnerships - which services have, so far, been non-existent. The Receiver simultaneously brings in his own appraiser to marginalize the value of the land as much as possible - even to the level of pennies per acre. No one individual is in a position to contest this devaluation. Since the only assets existing in the whole of all the partnerships is the land itself. The only way for the Receiver to recover his fees is to "offer" to take the land in trade for his fees. Given that the Receiver has racked up huge fees at this point, one can expect that every square foot of all the partnerships land holdings will end up belonging to the Receiver and we, the current owners, will end up with nothing.
And this is all being done with the direction and sanction of the court and the SEC.

We demand that the court remove the Receiver from all of the general partnerships and deny any payments to him.

Ron Van Boxtel

#36: -

And how long did it take for your investments to be sold? I have been holding on to this investment for over 30 years! Talk about "long term"!! And the way it looks to me, my property will will never be worth what the investors paid for it...