After years of fraud, Roddy Ranch in Antioch to be put out to pasture
According to court documents, Fitzgerald stole over
Fitzgerald agreed to the terms of a plea deal in which he will serve three years in county jail, three years of probation and will give a full disclosure interview with the district attorney's investigators as to the alleged crimes of his co-conspirator, contractor
At times, Fitzgerald alleged that he defrauded the business in an effort to save it and also claimed he had a drug problem, but investigators didn't see any evidence of this.
"He was clearly mismanaging the money and the golf course, and kept telling Jack and other investors they were making money, but those books were wrong," said Deputy District Attorney
It wasn't the first time
In 2001, the ranch defaulted on its bond payments. The next year, Fitzgerald paid
Four months later, in July of 2002, Roddy Ranch filed for bankruptcy.
Although
"Roddy backed all the loans, put up his house, his reputation, his property," Katague said. "He took advantage of a position of trust.
In 2014, the
"That's a huge win for the district. The golf course is almost a ready-made facility for a park and it saves a huge amount of time in delivering that park to
All of these properties put together will form the "donut hole" of the much larger
As part of the purchase, Roddy asked to lease back his home for five years with an option to extend for another five years.
"It's a win-win for us all," said
Roddy grew up ranching on a family farm in
After the investors and managers have come and gone, Roddy will now return to his roots as a rancher.
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(c)2017 the Contra Costa Times (Walnut Creek, Calif.)
Visit the Contra Costa Times (Walnut Creek, Calif.) at www.eastbaytimes.com
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