On September 30, 2019, the Court entered a Stipulated Order appointing Gary Schwartz of Betzer Call Lausten & Schwartz, LLP as Receiver for Mark Ray, Custom Consulting & Product Services LLC, MR Cattle Production Services LLC, Universal Herbs LLC and DBC Limited LLC and their respective properties and assets, and interests and management rights in related affiliated and subsidiary businesses (the “Ray Estate”).
On November 4, 2019, the Court entered a Stipulated Order appointing Gary Schwartz as Receiver for RM Farm & Livestock LLC, Sunshine Enterprises, and “the real property, equipment, supplies or inventory located at 12700 E. Lone Chimney Road, Glencoe, OK 74032 that are in the name of or under the control of” Reva Stachniw (the “Stachniw Estate”) and added the Stachniw Estate to the Ray Estate (collectively, the Stachniw Estate and Ray Estate are referred to as the “Receivership Estate” or “Estate”).
The purpose of the site is to provide selected pleadings, documents, key dates and status reports to interested parties regarding this matter. Neither the Receiver nor his counsel can or will provide legal advice to creditors, investors, or other interested parties. As the Ray Receivership proceeding is a complex legal matter, all parties are encouraged to retain and consult with their own legal counsel and accountants regarding this matter.
Case updates, pleadings, and other important case information will be available on this website. Please continue checking it for periodic updates as the case progresses.
If you want to receive an email notification when an update is made to the case website, please click here and enter your email address where prompted.
DUE TO THE LARGE VOLUME OF CALLS BEING RECEIVED, COUNSEL FOR THE RECEIVER WILL NOT RESPOND TO OR RETURN PHONE CALLS AT THIS TIME. ALL INQUIRIES AND COMMUNICATIONS SHOULD BE MADE THROUGH THE “CONTACT” PAGE ON THIS WEBSITE.
Criminal Proceedings vs. Mark David Ray
Mark Ray pled guilty to one count of conspiracy to commit wire fraud and bank fraud in Criminal Case No. 20-cr-40007, in the United States District Court for the Central District of Illinois.
A Status Conference has been reset for 4/8/2021 at 09:30 a.m. via video conference before Chief Judge Sara Darrow in U.S. Courthouse, 131 E 4th St, Davenport, Iowa 52801. Defendant Ray is released on current bond in full force and effect.
The Court granted the Receiver’s Motion to Establish Claims Administration Process for creditors and investors to submit claims with the Receivership Estate, which was extended to March 15, 2021. The deadline for filing claims has now passed. The Receiver is analyzing claims.
Receiver v. Ronald Throgmartin
On April 6, 2021, the Receiver filed a related case against Ronald Throgmartin in Denver District Court, Case No. 2021cv31124 regarding Mr. Throgmartin’s actions alleging furtherance of the Mark Ray Ponzi scheme and to recover fraudulent transfers to Mr. Throgmartin. Pleadings will be posted on the Pleadings page on this website. The Complaint may be found here: Download Complaint. The matter was removed to U.S. District Court for the District of Colorado. On July 13, 2022, a Joint Stipulation of Dismissal With Prejudice was filed after the parties entered into a settlement agreement resolving the claims of Plaintiff against Mr. Throgmartin.
Receiver v. JPMorgan Chase Bank
On August 30, 2021, the Receiver sued JP Morgan Chase Bank asserting various tort claims and fraudulent transfer claims against the Bank, specifically, for aiding and abetting securities fraud, aiding and abetting common law fraud, aiding and abetting civil theft, aiding and abetting breach of fiduciary duty, negligence, negligent supervision, unjust enrichment, and fraudulent transfer. The case is now in the U.S. District Court for the District of Colorado, Case No. 21-cv-02449-RM-KLM. Pleadings will be posted on the Pleadings page on this website.
Fraudulent Transfer Claims
The Receiver has filed complaints in Denver District Court asserting fraudulent transfer claims against various parties including Darryl Raub (Case No. 21cv33099), and Randall Huls (Case No. 21cv33372).
Updates will be provided as it progresses.
SENTENCING OF STACHNIW AND THROGMARTIN:
JUSTICE NEWS – Department of Justice – Friday, February 17, 2023
Two Individuals Sentenced for Multimillion-Dollar Cattle-Trading Ponzi Scheme
Two individuals were sentenced today to six years in prison for their roles in a cattle-trading Ponzi scheme that resulted in millions of dollars in victim losses.
According to court documents, from late 2017 until early 2019, Reva Joyce Stachniw, 71, of Galesburg, Illinois, and Ron Throgmartin, 59, of Buford, Georgia, along with a co-conspirator, ran a Ponzi scheme by fraudulently representing to victims that their investments were backed by short-term investments in Stachniw and Throgmartin’s cattle and marijuana businesses. The victim-investors gave the conspirators money based on false promises that their investments would be used for legitimate activities related to those businesses. In actuality, the funds were used to pay earlier investors.
In August 2022, Stachniw and Throgmartin were convicted at trial of one count of conspiracy to commit wire fraud, five counts of wire fraud, and one count of conspiracy to commit money laundering.
In addition to their terms of imprisonment, Stachniw was ordered to pay $14,597,335.80 in restitution and to forfeit $6,013,370. Throgmartin was ordered to pay $14,597,335.80 in restitution and to forfeit $1,004,904.83. The restitution was ordered jointly and severally between the two.
Assistant Attorney General Kenneth A. Polite, Jr. of the Justice Department’s Criminal Division; Special Agent in Charge Kyle A. Myles of the Federal Deposit Insurance Corporation Office of Inspector General (FDIC-OIG), Atlanta Region; Assistant Director Luis Quesada of the FBI’s Criminal Investigative Division; and Special Agent in Charge Oliver E. Rich Jr. of the FBI San Antonio Field Office made the announcement.
The FDIC-OIG and the FBI investigated the case. Assistant Chief Scott Armstrong and Trial Attorneys Brandon Burkart and Michael McCarthy of the Criminal Division’s Fraud Section prosecuted the case.
VERDICT: On August 26, 2022 in USA v. Reva J. Stachniw and Ron Throgmartin, U.S. District Court for the District of Colorado, Case No. 1:21-cr-00148-PAB, Stachniw and Throgmartin were convicted of conspiracy to commit wire fraud, six counts of wire fraud, and money laundering. Jury Verdict can be downloaded HERE. Sentencing for Reva Stachniw is set for February 17, 2023, and sentencing for Ron Throgmartin is set for February 17, 2023, both in Courtroom A701 before Chief Judge Philip A. Brimmer.
INDICTMENT – On April 22, 2021, Reva J. Stachniw and Ron Throgmartin were indicted in U.S. District Court for the District of Colorado of conspiracy and scheme to defraud. The Indictment may be found here: Download Indictment