Jon M Rosenthal Rochelle Roseenthal The Rosenthal's are Con artist and steal money Westlake Village, California
Rochelle Rosenthal and her husband Jon
Double R Real Estate Associates LLC
Managing Member
Double RR Real Estate Investment Group,
the Ranch Serrano project in Thousand Oaks. I invested with the Rosenthals in their condo project, also in Thousand Oaks. I started suspecting foul play in 2011 and asked the Rosenthals for accounting of the monies in the project and also the status. Through my own digging and not from them I finally learned recently that the project I invested in went bankrupt in 2009 - the Rosenthals never even told me! I had asked in January 2011 for my money back and they said they would look for a replacement investor to take over my share .... they were still covering-up the truth given they already lost the property.
I have now found out when knowing this the Jon & Rosenthal were taking others money and already know to project at Rancho Serroano was going down.
Rancho Serrano Townhomes in Thousand Oaks is open for sales, built by Southern California multiresidential boutique developer Double R Real Estate Associates LLC.
1 Updates & Rebuttals
Jon
Westlake Village,California,
United States
The Actual Facts
#2REBUTTAL Owner of company
Mon, September 24, 2018
Mr. Machado sadly thinks that by writing a scathing report with no facts in it has any meaning. All he does is slander the character of responsible people who acted in the interest of their investors. Such slander is normally to be ignored, especially by intelligent and knowledgeable people. He was among thousands of other investors who lost milliions as a direct result of the Financial Crisis. He was infomed at all times of the status of our project, and the real facts surrounding it. He knew, along with all the other investors, that the construction lender had been closed by the FDIC. He knew that we tried to save the project by filing a Chapter 11 proceeding, while looking for solutions acceptable to the court. However, possible replacement banks were all being closed by the FDIC. We had nowhere to turn.
Mr. Machado's claims do not match the actual timeline. The bank failed in January 2010, long before the dates he states in his "report". The bank had tried, unsuccessfully to take away our very high quality project, in order to sell it to cover up its own losses. The company filed Chapter 11 in order to protect itself from the bank and it successor. Mr. Machado, along with all the investors, were informed of the bank's problems, and recieved a written request to particpate in funding a war chest to fight off the bank. Mr. Machado refused to participate. With the exception of two investors, we paid all the costs from our own funds. His claim that we would find him a replacement investor just doesnt match the actual facts. There was no way that his investment could be sold, much less replaced, in 2011. It, along with ours and everyone elses, was tied up in the court proceedings. Many investors appeared at the court hearings. He was not among them. By 2011, the successor bank had installed a court appointed receiver, who finished the project, and sold it at their behest a year later, in 2012. Every investor, including, Mr. Machado, recieved a final report.
Mr. Machado's investment was one of thousands of casualties of the Financial Crisis. It appears, unfortunately, at the time of his writing, he did not want to acknowledge the severity of the problems facing the country and the economy. He simply appears to have needed to strike out at someone to vent his anger and frustration. Irresponsible writings like his do not serve the investment world. What took place was far beyond the control of experienced real estate developers all across the country.
Mr. Machado's "digging" could not have revealed any more than he already knew or should have known. It is unfortunate that a respectable blog like RipOff Report does not take the time to vet the information furnished and published by its members. That would prevent irresponsible people from writing easily disproveable statements. We lost far more than he did.