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Note: The following has been re-posted by request. The original was posted on September 18, 2010. New information has been provided in the comments section below. Barney's license is/was listed as 'Salesperson', not 'Broker'.
Another day another doc. Click HERE and scroll down to page 8. Look in the middle column near the top.
Barney Joe NG (Real Estate Officer - "REO") and Bar-K (Real Estate Corporation - "REC") were suspended by the Department of Real Estate for a 2832 10177 (d) violation.
On page 5, you'll find disciplinary action definitions.
- A 2832 is for "Failure to comply with trust fund handling provisions."
- A 10177 (d) is a "Violation of real estate law or regulations."
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ReplyDeleteBar-K - REVOKED - http://www2.dre.ca.gov/publicasp/pplinfo.asp?License_id=00528328
ReplyDeleteand
Barney Joe Ng - RESTRICTED - http://www2.dre.ca.gov/PublicASP/pplinfo.asp?License_id=00464238
and
Kelly William Ng - CANCELED - http://www2.dre.ca.gov/publicasp/pplinfo.asp?License_id=00641921
Looks like the Ngs are out of the real estate sales business in California. Sure would like to know the specific reasons behind the adverse action(s).
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ReplyDeleteWe should care, but it appears many of us don't. The Terrible Two have other ventures/jobs. The rest of us have _____________________?
ReplyDeleteWhat does Bar-K need a real estate license/salesperson/broker for anymore? RE Loans, RE Reno, and Mortgage Fund '08 are out of business. Didn't you read the notice that they (the Ngs) aren't in the investment or real estate business anymore? They (the Ngs) haven't a clue what to do.
ReplyDeleteWeissenborn and Mackinac are now responsible for liquidating the fund for the sole purpose repaying the LOC loan to WF.
They're even going to prolong the whole thing by borrowing another $20 million so that they can stay in business for a couple more years and make MILLIONS of additional dollars while the Investors/Noteholders end up with exactly what we have today. Nothing.
Can't argue with AnotherNgVictim. The Weissenborn newsletter was crystal clear. Walter, Bruce, Barney and Kelly filled our parachute with pots and pans.
ReplyDeleteKelly Ng's Nevada real estate brokers license was not renewed and is EXPIRED as of 3/31/10.
ReplyDeletehttp://red.prod.lookup.nv.gov/searchdetail.asp?idnt=207698&divisionidnt=40&credentialidnt=196824
I wonder who is now responsible to sell the Pecos Creek property in Las Vegas?
http://www.reloansllc.com/pdf/loansummary.pdf
I saved for twenty years only to invest with this group and it looks like I am going to loose it all. Barneys bad and self serving investments ruined this company that his father worked so hard and honorably to establish. In this case the apple fell far, far, far, from the tree. So much for retirement.
ReplyDelete