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)
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)
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)