Granite Bay Man with Ties to Elk Grove Development Fined For Illegal Payday Operation
December 23, 2013 | A Granite Bay man with ties to a controversial development in Elk Grove was fined by the California Department of Bus...
https://www.elkgrovenews.net/2013/12/granite-bay-man-with-ties-to-elk-grove.html
December 23, 2013 |
Brian Bergfalk, who has been closely associated with the proposed Vintara-Silverado project located on the northwest corner of Waterman and Bond Roads was fined $100,000 for charging excessive fees and operating without a state license for their two companies: TIOR Capital in Las Vegas and a Folsom-based loan servicing center, TTG Services.
A Granite Bay man with ties to a controversial development in Elk Grove was fined by the California Department of Business Oversight for operating an illegal payday loan operation according to a settlement issued on Friday.
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| Brian Bergfalk. |
Bergfalk and his accomplice, Eric Quinlan of Folsom, operated a so-called payday lender business that was accused of among other things, charging excessive fees and interest rates up to 780 percent.
Bergfalk was the spokesman for Centex, the proposed development's original owner, between 2006 and 2008. When that venture failed, Bergfalk found himself working with the current developer, Silverado Homes, when they took over in 2011.
The project has been mired in controversy since home-owners in adjacent areas expressed concerns about flooding and increased traffic on Bond Road after developers requested rezoning to higher density housing. The controversy escalated at a recent meeting when it was suggested by long time Elk Grove residents that the site was used for what amounted to an unregulated illegal dump area for a variety of hazardous materials.
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Let's see if he can now find financing for the project. With these new revelations, he might find banks a bit leery to loan him money.
If he can get funding, look for the city council to welcome him and offer any assistance he needs to build his 725 home sites...just what Bond Rd needs, more commuters.
This man met with the neighbors on the original Vintara project several years back. He was arogrant at the time and literally told us homeowners "we will get this build no matter what. You better get used to it." After multiple homeowners groups collectively sued the city (and won) to stop the project; this gentleman then appeared at the next series of meeting with the newest developer Silverado Homes. He is still arogrant, self rightous and down right dismissive of the neighbor's concerns. If Silverado wants to build on that land, they better think twice about allowing this man access to the project. With this new information, the neighbors will be loath to work with him knowing he is a scheming, deceptive and untrustworthy person. But I'm sure our city council members will welcome him with open arms. They seem to be thick as thieves
that project is doomed...and has been from day one...let the land be....we don't need 725 more homes on Bond road....between flood concerns, hazardous waste and cluster homes, we just don't need that project...maybe this developer can go swindle someone else.
This character just verifies what we all know about many of the sleazy developers operating in our city.
Typical....it's all about greed. How does this guy sleep at night charging over 700% interest? That's just criminal. Why isn't he being held criminally liable? Someday, he will met his maker and I'd love to hear the explanation then. Where is our society heading?
What makes it even worse is this is about taking advantage of the people who were most likely in dire straits. How could a city possibly work with someone with such low scruples...nothing that came out of his mouth could be trusted. But then again...our city leaders move in strange ways sometimes. Most likely have an explanation ready now, of how he was railroaded and it was all a misunderstanding.
Here's a related article from the Business Journal on this character. I hope Elk Grove does not continue to do business with him. His lack of integrity and our ability to trust his word should be our red herring. Check out this link: http://www.bizjournals.com/sacramento/news/2013/12/27/consultant-hit-with-state-settlement.html?ana=e_sac_rdup&s=newsletter&ed=2013-12-27
This came to light as far back as February, 2012 and yet our city has kept working with him on the Vintara-Silverado project. To my knowledge it is still being actively pursued and was just recently on the Planning Commissions agenda. It's time for our city to clean up it's act.....shut this project down! It's a no-win project for the city anyway......
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