Criminal Cases

The State of Texas has indicted Dick Gray, Wendy Rogers, Michael McDermott, Ron James and Don James for crimes arising out of their roles in Retirement Value.  Each has been accused of money laundering, conspiracy, fraud in connection with the sale of a security and theft by fraud, all of which are felonies under state law. The indictments were handed down by a grand jury in Collin County and the case will be prosecuted by the Collin County District Attorney’s Office.

02/26/2015     Dick Gray Indictment

02/26/2015     Wendy Rogers Indictment

02/26/2015     Michael McDermott Indictment

02/26/2015     Ron James Indictment

02/26/2015     Don James Indictment

McDermott/Rogers Litigation

Michael McDermott and Wendy Rogers have asserted claims against the Receiver and the State arising out of the recent criminal charges against them.  In addition to a variety of complaints about the propriety of the charges against them and the qualifications of the prosecutors, both have alleged that the charges are barred by their settlements with the State.  Both McDermott and Rogers have filed motions to enforce their respective settlement agreements.  The Court has denied these motions on the grounds that it lacks jurisdiction to consider them. McDermott has also filed a separate lawsuit seeking indemnification from the Receiver as well as an injunction prohibiting the Receiver from sharing information with anyone for any purpose.  He sought similar relief against the State.  McDermott recently dismissed his suit without prejudice.  A dismissal without prejudice means that the claimant does not want to pursue his claims at this time but  reserves the right to do so later.

The Receiver will vigorously oppose these efforts by McDermott and Rogers to obtain money from the estate and to restrict the Receiver in the performance of his duties.

  Motion to Enforce

08/14/2015     Letter from Court denying motions to enforce

06/22/2015     McDermott’s Reply to the Receiver’s Plea to the Jurisdiction

06/22/2015     McDermott’s Reply to the TSSB’s Plea to the Jurisdiction

06/22/2015     McDermott’s Reply to Receiver’s Response to Motion to Enforce

06/01/2015     TSSB’s Plea to the Jurisdiction

06/01/2015     Receiver’s Response to Rogers’ Motion to Enforce

06/01/2015     Receiver’s Plea to the Jurisdiction and Objection to Motions to Enforce

06/01/2015     Receiver’s Response to McDermott’s Motion to Enforce

05/22/2015     McDermott’s Brief in Support of Motion to Enforce

05/01/2015     McDermott’s Motion to Enforce

04/30/2015     Rogers’ Brief in Support of Motion to Enforce

04/15/2015     Roger's First Amended Motion to Enforce

McDermott v. TSSB et al.

10/20/2015     Notice of Non-Suit

07/17/2015     Letter Agreement Staying Case

06/22/2015     Original Petition

Receiver’s Claims against David A. Gray and Elizabeth S.O. Gray

09/14/2010     Receiver's Amended Original Petition re David Gray

Settlement of Claims against Kiesling, Porter, Kiesling & Free

12/21/2011     Order Granting Dismissal of Relief Defs KPKF

09/29/2011     Cain Intervenors Motion for Award of Class
                          Certification Fees and Expenses

09/12/2011     Cain Intervenors Motion for Final Approval of Class
                          Action Settlement

07/18/2011     Notice Sent to Class Members

06/29/2011     Order Preliminarily Approving Settlement

06/28/2011     Settlement Agreement and Notice of Proposed Class
                        Action Settlement

Special Receiver’s Claims against Wells Fargo Advisors, LLC, Wells Fargo Investments, LLC, Wells Fargo Bank, National Association and Whitney Giles

05/28/2014     Order on Arbitration Award  

05/10/2012     Wells Fargo Defendants Amended Original Answer to Cain
                          Intervenors' Second Amended Claim

04/10/2012     Arbitration Award  

04/10/2012     Cain Intervenors' Second Amended Claim Against Wells Fargo
                         and Amended Claim against RV asserting class action claims.

11/22/2011    Special Receiver's Supplemental Petition  

11/03/2011    Order Appointing Special Receiver Janet Mortenson

Bankruptcy / Northern District of Texas Case Number 11-35165-sgj

07/16/2012      Order Dismissing Bankruptcy (Docket #68)

10/04/2011      Bankruptcy Judge Abstention Order (Docket #57)

09/28/2011      Trinity Settlement Services' Amicus Curiae Brief in Opposition to Motion to Abstain or Dismiss (Docket #54)

09/28/2011      Trinity Settlement Services' Motion for leave to File an Amicus Curiae Brief in Opposition to Motion to Abstain or Dismiss (Docket #53)

09/26/2011      Joinder in Receiver's Motion to Abstain/Dismiss by All State Court Intervenors (Docket #50)

09/22/2011      Petitioning Creditors' Motion to Convert Case to Chapter 11 (Docket #45); Exhibit AExhibit B

09/19/2011      Joinder of the Texas State Securities Board in The Motion to Abstain or Dismiss Filed by the State Court/Appointed Receiver (Docket #41)

09/07/2011      Order Granting Motion for Expedited Hearing (Docket #36)

09/06/2011      Receivers Motion for Expedited Hearing (Docket #35)

09/06/2011      First Notice of Expenditures (Docket #34); Exhibit A

09/06/2011      Receivers Motion to Transfer (Docket #33)

09/06/2011      Receivers Motion to Require Posting of a Bond (Docket #32)

09/06/2011      Receivers Answer to Amended Involuntary Chapter 11 Petition (Docket #31)

09/06/2011      Receivers Motion to Abstain or Dismiss (Docket #30)

08/23/2011      Notice of Hearing set for 9/27/2011 (Docket #26)

08/19/2011      TSSB Joinder in Receivers Objection (Docket #20)

08/19/2011      Motion for Expedited Hearing (Docket #18)

08/19/2011      Receivers Expedited Motion for Interim & Final Relief (Docket #17)

08/19/2011      Receivers Objection to Emergency Motion for Appointment of Chapter 7 Interim Trustee (Docket #16)

08/15/2011      Standing Scheduling Order Regarding Involuntary Cases (Docket #6)

08/15/2011      Summons to Debtor in an Involuntary Case (Docket #5)

08/12/2011      Involuntary Bankruptcy Petition for Retirement Value (Docket #1)