Monday, December 21, 2009

Takedown Debt Settlement owner defaults on $1,176.69 car payment

Kelly Rogers Defaults on Car payment

Kelly G Rogers, owner of Takedown Debt Settlement, has defaulted on his GMC Denali payment. According to a motion filed in the Chapter 11 case no. 09-42154, Bank of America filed for relief from the “Automatic Stay” filed against the bank. According to the motion, Kelly Rogers purchased a 2005 GMC Denali for the amount of $60,067.18 on June 28th, 2005.

According to the document, Bank of America is asking the Court to terminate the automatic stay in this case for two reasons. First, the debtor (Kelly G Rogers) intends on surrendering the Collateral (Denali) and Second, the debtor (Kelly Rogers) is using the Collateral and the Collateral is declining in value and will continue to decline in value but the Debtor (Kelly Gordon Rogers) is not making payments to Bank for his use of the Collateral or for the decline in value. Basically, they want to repossess the car.

According to the document, Kelly Rogers has a monthly payment of $1,176.69 and has defaulted on his August, September, October and November 2009 payments. The irony here is that Kelly Gordon Rogers owns a debt settlement company he incorporated as Takedown Debt Settlement, filed as Takedown LLC, on August 14th, 2009. This would indicate that he is an owner of this Debt Settlement Company. Is Kelly Rogers qualified to help others reduce their debts owed? Does it appear to be true based on the Bank of America action?

Since we exposed Kelly Rogers ownership in Takedown Debt Settlement, the website has converted to a password protected location. I wonder what they’re trying to hide?

Wednesday, November 25, 2009

Kelly G Rogers and Takedown Debt Settlement

Kelly Gordon Rogers has started a new company called; "Takedown Debt Settlement". This official corporate filing information has been recorded with Stacy Kemp, County Clerk of Collin County. We've enclosed two documents to validate the information (simply click on the photo's to enlarge). Kelly G Rogers registered the information with the State on August 14th, 2009. On July 21st, 2009 Kelly Gordon Rogers filed the paperwork to record Takedown, LLC with the Texas Secretary of States office.

(Please note; since shinning the light on this story, those involved have fled like rats off a sinking ship. The website has been removed, Linkedin profiles changed and they've been sent running for the exits)

According to the website, "Takedown offers an aggressive debt relief option for people who have found themselves in a financial hardship and want to avoid filing bankruptcy. This program only works for people who understand there are very few options left, and are willing to make a commitment to the program. We will work with you to will help determine if debt settlement is a viable option for you. After reviewing your financial situation, analyzing the debts, considering what creditors are involved, we can then formulate a savings time-line and settlement plan, based specifically on your situation".

Kelly G Rogers has co-opted Curt Sanders as a Partner in Takedown Debt Settlement. This information has been acquired via Linkedin. To see the Linkedin profile, click here. The question one has to ask is this; does Curt Sanders know about Kelly Gordon Rogers background? The company is located at; 5916 Oakcrest rd Dallas, TX 75379. Phone number 800-518-2827 and fax number 888-364-8944.

In review, Kelly G Rogers was indicted by the State of Texas on July 30th, 2009. See Kelly Gordon Rogers Indicted. Kelly Gordon Rogers has requested a jury trial and an annoucement is scheduled for December 3rd, 2009. Click on the Collin County link and enter Rogers, Kelly to look up case 380-81600-09.

Additionally, Kelly G Rogers filed bankruptcy on July 27th, 2009. See Kelly G Rogers of Texas files bankruptcy. Additionally, SIX various groups have filed lawsuits against Kelly Rogers for a variety of investment schemes gone bad. See Investors sue Kelly Gordon Rogers; claims fraud and embezzlement. Additionally, the SEC sued Kelly G Rogers for his involvement in a illegal ponzi scheme. See Kelly G Rogers sued by SEC in 2007.

Recently, after having his law license suspended on 2 different occasions, Kelly Gordon Rogers has been reinstated by the State Bar of Texas. We have contacted the Bar to question this reinstatement.

This story is provided as a warning to anyone who may encounter Kelly G Rogers and his investment schemes to beware of his history. It's ugly, it's extensive and it has financially ruined many.

Sunday, November 1, 2009

Kelly G Rogers indicted by Collin County DA

Kelly G Rogers of Frisco Texas was indicted by a Collin County Texas Grand jury on July 30th 2009, case number 380-81600-09. The attached mug shot was provided as public information by the Collin County Sherrifs office. For updated information as to the status of the proceedings, you can link to the following Clerk website:

Click on the site, enter in Last and First name, click search. Then click on the case number 380-81600-09 and see the schedule.
Make sure to check out the Indictment Update I.

According to the site, the offense took place on March 1st, 2005 and is a FELONY 1 charge. The charges include 26990034 Misapp Fiduc/Finan Prop >=$200,000. An arrest warrant was issued, then executed on August 14th. Rogers was booked, his mug shot taken and he was incarcerated. He was later released on $50,000 bond. Mr. Rogers is scheduled to appear on September 2nd, 2009 in the 380th District Federal Court, the honorable Suzanne Wooten will be presiding.

Ironically, Mr. Rogers birthday is listed as September 2nd, 1958. This is the date he's scheduled to make his first appearance in court! I wonder if the court will pause to sign happy birthday to this young man? Please continue to watch the Collin County website for continuing news and updates.

This is not the first time Rogers has been in legal trouble. In July of 2007, the SEC filed a complaint against Mr. Rogers for his role as a facilitator in a Ponzie Scheme. Mr. Rogers created a company called "Level Par" and solely responsible for investing with CR Davis and Global Finance and Investments. The SEC sued and won against Mr. Rogers who agreed to a final judgement that permanently restrains and enjoins Defendant from violation of several codes from the Securities act of 1933. These codes include Sections 5(a), 5(c) and 17(a). Also included was Sections 77e(a), 77e(c) and 77q(a) and Sections 10(b) and rule 10b-5.

Mr Rogers was ordered to pay disgorgement in the amount of $100,000 plus prejudgement interest thereon in the amount of $3,360 and a civil penalty in the amount of $50,000. The SEC rulings can be viewed below.

A link is also provided to a letter issued to all Level Par investors on August of 2006. This letter announced the SEC had contacted Level Par officials to report investments made by Kelly Rogers into entities run by CR Davis and Global Finance. These individuals and entities were part of an ongoing investigation by the SEC for operating as a Ponzie Scheme. The letter also documents $200,000 Mr. Rogers removed from Rio Grand Mining (a venture capital operation) and invested in the Travis Correll Ponzie Scheme in 2004. Shortly after details began to surface, Mr. Rogers was removed from Level Par and several other entities run by Richard Weyand. Several lawsuits were filed against Kelly Rogers in the subsequent years and these will be fully explored in the coming weeks.

Updates on these and other matters will be provided in the weeks and months ahead. Additionally, Kelly G Rogers personally filed Chapter 11 bankruptcy on July 27th, 2009 in the name of Kelly Gordon Rogers. This will be the subject of the next posting.

Kelly Gordon Rogers sued by 20 Investors; Claims Fraud and Embezzlement

Kelly Gordon Rogers is named as the defendant in another lawsuit filed on October 2nd, 2009. Bill Thompson, CR591, LLC et al v. Kelly Gordon Rogers, alleges Fraud and Embezzlement against Rogers and was filed in the United States Bankruptcy Court for the Eastern District of Texas, Plano Division. The purpose of this suit is to arrest control of these assets from Debtor and place in the hands of Plaintiffs, who provided all of the funding for the purchase of these assets.

This lawsuit involves 20 of the 22 known members of the Company consisting of approximately 95% of the preferred member’s interest. In 2007, Rogers was searching for investors for this scheme. The stated purpose of this company was to purchase mineral interests and develop oil and gas wells. At the time Rogers solicited the investors, the company owned one producing oil well, and Rogers sought sufficient funds to enable the company to "Turn Key" two gas wells and to begin drilling a third gas well, according to the lawsuit. Based a powerpoint developed by Rogers and other information, the members invested $1,400,000 with Kelly Gordon Rogers.

The suit claims that Rogers embezzled company assets while acting as managing members. According to the suit, Rogers declared the first gas well a mechanical failure and had it plugged. The second gas well also purportedly suffered from mechanical failures and was terminated. It is unknown at this time if any work at all was done on these wells or what the funds for these wells were used for. In October, 2008, work on a purported third gas well was stopped and the gas well operators transferred to Rogers the sum of $180,000. These funds were previously paid by the company to the operators to develop a third gas well and the operators' payment to Rogers was a return of the unused portion of the prepaid drilling costs for the third gas well.

It goes on; although it is undisputed that the $180,000 received from the operator was the property of the company, Rogers testified that he "borrowed" the $180,000 for his personal use. According to Rogers, the $180,000 was used for home improvement. To date, Rogers has provided no promissory note or other evidence that he "borrowed" the money. Further, Rogers has so far repaid none of the money.

According to records from the Nevada Secretary of State, Rogers created an entity named Falcon Energy, LLC on March 29th, 2007. The status of this corporation was "Revoked" as of April 1, 2009. This is not unusual for Kelly Rogers. Rogers has demonstrated a clear pattern of poor standing within organizations since 2002. A check of his law license shows he was suspended by the Supreme Court of Texas in both 2002 and 2008. And now this entity is officially "Revoked" by the State of Nevada because the Rogers apparently didn't pay the $125.00 fee due to the state.

In terms of this investment, Rogers solicited money to fund a supposed entity called "Falcon Energy, LLC-Buck Hamilton Series" but there is no evidence that the entity was ever created. According to the case; it is presently unclear as to the status or nature of the company. Although Rogers solicited investments in a limited liability company, and Rogers had each of the investors execute both a subscription agreement and an LLC agreement, it is unclear if Rogers actually formed the entity. A review of the Nevada Secretary of State records indicates there is no entity named "Falcon Energy, LLC-Buck Hamilton Series". A review of the Texas Secretary of State records likewise establishes there is no entity with that name. As such, it is unclear as to the exact nature of the relationship between the platiffs and Rogers. Rogers raised $1,400,000 from Plaintiffs, ostensibly for the purchase of membership interests in the company.

Amazingly, when testifying in response to a 2004 examination request made by this group to the Trustee presiding over Rogers’s bankruptcy, Rogers testified; he did, in fact, "Form a Company" but could not remember where? Rogers further testified that documents reflecting the formation of the company could be found in his prior office space, which has been taken by the landlord. Rogers have since participated in an examination of the records located in Rogers’s prior office space and have yet to locate any records of the company. It maybe that the members of the company are simply members of an unincorporated joint stock association, a general partnership, or a trust. In any event, the company has significant assets which are under the direct control of Rogers. The purpose of this suit is to arrest control of these assets from Rogers and place it in the hands of the Plantiff, who provided all of the funding for the purchase of these assets.

To see an actual "Motion for Rule 2004 examination of Kelly Gordon Rogers, click on case number
09-42154-11. This trust invested $420,000 in the "Buck Hamilton Project". Based on the quote listed in the preceeding paragraph, the 2004 Examination request must have been granted since Rogers testified that he did form a company but couldn't remember where. To quote the motion; It is well settled that the scope of examination allowed under Rule 2004 is broader than discovery allowed under Federal Rules of Civil Procedure and may be in teh nature of a "Fishing Expedition". It is well established that the scope of a Rule 2004 examination is extreamely broad and...allowed for the 'purpose of discoverign assets and unearthing frauds' and has been compared to a 'fishing expidition'.

The suit claims the following.

• First, Rogers is indebted to the company in the sum of at least $180,000 on a debt for fraud or defalcation while acting in a fiduciary capacity, embezzlement, or larceny.

• Second, Rogers is indebted to the company in the amount of any company funds used for purposes other than in compliance of the LLC Agreement or the Subscription Agreement for false pretenses, false representations, or actual fraud.

• Third, Plaintiffs request the Court declare Rogers home be subject to a constructive trust in favor of the Plaintiffs for the amount of $180,000. The basis of this request is that; (a) Rogers committed actual fraud or has committed constructive fraud through the breach of a preexisting fiduciary or confidential relationship (b) Rogers would be unjustly enriched by retaining the proceeds of the wrong and (c) there is a traceable res upon which to impress the trust.

• Fourth, Plaintiffs request the Court to enter an order requiring Rogers to render a forensic audit of all transactions engaged in by Rogers.

In 2006, Kelly Rogers was sued by the SEC for his involvement as a facilitator in a ponzi scheme. The original complaint was filed on July 18th, 2007, Case 4:07cv346. Eventually, Rogers agreed to a final judgment contained in Doc 7-2, signed by Rogers. In the agreement, Rogers agrees to a variety of rules and restraints.

The ramifications of the; Bill Thompson, CR591, LLC et al v. Kelly Gordon Rogers are very important since it expose specifics of how Rogers sold securities to these investors. These details will be instrumental in answering the question; did Rogers violate his settlement with the SEC? Further, will any of these allegations assist the Collin County DA win a conviction on their indictment of Kelly Rogers? And did Rogers violate any FINRA rules when raising these funds for Falcon Energy, LLC-Buck Hamilton Series deal? For those who don't know, FINRA exists to for investor protections. They work hand in hand with the SEC. On you review their website, the headline reads; "Investor Protection, Market Interity". If you look at the SEC Case 4:07cv346 against Kelly Rogers, Marshall Gandy was the lead attorney for the SEC. If you review Marshall Gandy's new Lindedin profile, he is now Senior Regional Counsel at FINRA.

More to come.