John is accused of loan fraud involving a $4.5 million transaction and withholding a tenant estoppel. Catherine Bell and others demand he resign immediately as manager of Sandman Holdings, with a deadline of 4 p.m. the same day.
I would change it from since our last communication. We've always known there was material fraud and that's how we ended up in it, but it's not a $7 million transaction. It's $4.5 million transaction. So John committed loan fraud. He's withholding tenant estoppel. He's in bad faith coordination with the tenant, stuff like that.
Good morning. Hi, how are you?
So all those things are real right there. The position is yes, that he's in total fiduciary, whatever. He is not only entitled to nothing, but should be forced by a judge to remove himself from all documentation. And this demand has to happen today by 4 o'clock in order to prevent us from—
known for a while now about the fraud, which is why we were still proceeding and getting this done without him. The sale is $4.5 million, not $7 million.
We need to also show that not only is John not entitled to nothing, he should be forced to resign and sign the resignation letter that he was given over a month ago for this, uh, bad faith coordination and his inability to perform as manager of Sandman Holdings.
