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Ripoff Report | Silver Saddle Review - California, City, California
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Report: #1326092

Complaint Review: Silver Saddle Ranch and Club - California, City California

  • Submitted:
  • Updated:
  • Reported By: Brian — Cordova Tennessee USA
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  • Silver Saddle Ranch and Club California, City, California USA

Silver Saddle Ranch and Club Silver Saddle Commercial Development LLCGalileo Project Land Banking Scam California, City California

*Consumer Suggestion: Silver Saddle Ranch Club A pyramid scheme

*Consumer Comment: Silver Saddle California City

*General Comment: Ripped off

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My wife and I were scammed Silver Saddle in May 2015.  We bought 1/2 of 1/4000 of interest in the land they were selling in Kern County.  Looking up the values of the 8 APNs associated with Silver Saddle and doing some math, my interest is only worth $132 and I paid over $12,000. 

I spoke with a CA law firm, and was told I was definitely scammed.  However, they did not take up the case with me as an individual because the cost of litigation would far exceed the amount of money I'd recoup.  They did, however, offer to look into the case if I rallied enough people who were willing to stand against Silver Saddle.

This report was posted on Ripoff Report on 09/02/2016 02:46 PM and is a permanent record located here: https://www.ripoffreport.com/reports/silver-saddle-ranch-and-club/california-city-california/silver-saddle-ranch-and-club-silver-saddle-commercial-development-llcgalileo-project-lan-1326092. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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#3 Consumer Suggestion

Silver Saddle Ranch Club A pyramid scheme

AUTHOR: wolfabc - (USA)

POSTED: Tuesday, October 17, 2017

Silver Saddle Ranch Club A pyramid scheme

I was invited to this point by my friend and they gave a lot of stuff for free.

And on the next day of arrival they made a presentation of their so called Galelio Project which seemed to be very luring. But as soon as I found they try to ask us to sign the contract right away with no outer information access, I was very alert of that. 

As soon as I saw their list of earning which shows how you invite your friends to join and make profit, I already realized this is a very clear pyramid scheme which use the later members' money to cover the cost of the earlier's. 

The actual value of that piece of sh*t worth no more than $1K and they asked for $27K after $8K discount. That's actually a piece of desert never gonna be develped. The only things live there are the coyotes.

They use different strategies to persuade you sign right away because they understand as soon as you get any outer information, you won't be scammed.

I got rid of it, but I know many other people might have been scammed and their money flew into this company and covered the cost for the visitors like me.

So, think twice b4 you invest.

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#2 Consumer Comment

Silver Saddle California City

AUTHOR: Jacob - (USA)

POSTED: Wednesday, June 14, 2017

 As I was going over paperwork. I noticed the insane finance charge and 15% interest. The fees alone come out to more than the value of the land, which was at $11k. I was unfortunate enough to never see this when my parents bought the land and have paid it off for a few years already. Do I have any options at this point?

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#1 General Comment

Ripped off

AUTHOR: Richard - (USA)

POSTED: Friday, December 09, 2016

 I have also gave in to the silver saddle ranch and want at least some percentage owed to me. I want everybody to know silver saddle ranch is a scam

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