GARY BRADLEY ACCUSED OF MULTIPLE ACTS OF FRAUD IN BANKRUPTCY

Gary Bradley, the long-time Barton Springs watershed developer who owes the Federal government around $80 million, has been accused of fraud again, this time by the trustee in Bradley?’s personal bankruptcy case.

In the trustee?’s complaint, filed last Thursday, Bradley is accused of the following: concealing cash and property, undervaluing his personal property, back dating financial transactions and records, creating ?“a sham entity . . . to hinder, delay and defraud his creditors,?” and concealing transfers of property, among other allegations.

This court filing is the most detailed of allegations of Bradley?’s attempts to defraud his creditors, the biggest creditor being the taxpayers of the United States.

Bradley filed for personal bankruptcy in 2002 to try to eliminate his $80 million debt to the Federal government, which stems from loans Bradley personally guaranteed, and never paid back, to build the Circle C subdivision in the Barton Springs Recharge Zone.

Bradley still controls thousands of undeveloped acres in the Barton Springs Recharge Zone with plans for massive urban development.

You can read the trustee?’s complaint at www.makegarypay.org.

Gary Bradley's Utility Bills


Have we been paying Developer?’s utility bills for all these years?

May 5, 2003

Dear Board of Directors of CCHOA:

I am inquiring on behalf of all the Circle C homeowners regarding the utility expenses. When I inspected the financial documents covering the last six years (1997-2002), I discovered there were numerous water and electricity payments that belonged to the Developer and his companies. Those account numbers are as follows:

Gary Bradley A/C#0669039-0
5501 1/2 Slaughter La W

Gary Bradley #0669041-6
5901 1/2 Slaughter La W

Gary Bradley #0669045-7
6301 1/2 Slaughter La W

Phoenix Holdings #0026951-4
5919 La Crosse Av

Phoenix Holdings #0267891-0
5919 A (Suite 100) La Crosse Ave

Phoenix Holdings #0267890-2
5919 B (Suite 200) La Crosse Ave

Phoenix Holdings #0269355-4
10407 1/2 Dahlgreen Ave

Circle S LandCorp#0269382-8
10399 Rhett Butler Dr

Circle C LandCorp#0059309-5
5301 1/2 Slaughter La W

Circle C LandCorp#0274185-8
5500 1/2 Slaughter La W

I have copies of the billing for the above accounts for the Years 1999 through 2002. The following are the total amount of electricity and the water for these four years. I am quite certain the actual amount could be a lot higher because some invoices are missing.

Developer's electricity $22,970
Developer's water $26,561

Could you kindly explain to us, homeowners, why our hard-earned money is being used to pay the bills for the Developer?

Sincerely,
Lisa

CCHOA's Water Meter Accounts

In the Year of 2002, CCHOA had 20 water meter accounts as follows:

3742071-8
4208694-2
0268517-0
4084541-4
0302772-9
0302771-1
4081999-7
0269394-3
4208699-1
0268518-8
0269389-3
0127523-9
0294358-7
0269387-7
3742071-8
4259064-6
4373024-1
4430453-3
4311179-8
4311183-0

All the above accounts are billed under the name of Circle C HOA.

If you have any question about the above accounts, please call the City of Austin at (512) 494-9400.

Gary Bradley - Luckiest Landlord


Bradley - ''Smartest'' & ?“Luckiest?” Landlord

May 29, 2003

After I paid a visit to 5919 La Crosse Ave. of the Circle C Grill/Cafe & Catering, Full Circle Management, LLC and Circle C Landscape, I discovered that Gary Bradley does not own any of the above three companies. However, Gary Bradley is actually the landlord collecting rent from these companies.

Even though we are the real official owners of the whole property of 5919 La Crosse Ave, we receive no rental income but instead we are responsible for paying all kind of expenses, such as utility bills, property taxes bills, capital improvement, furniture and equipment, lifeguard wages, swimming pool management, swimming pool maintenance & repairs, etc.

Since we, the homeowners (aka: suckers), pick up all the expenses, Gary Bradley's Gross Rental Income from these properties becomes his bottom line - the Net Profit. Therefore, Gary Bradley is the ''smartest'' landlord on the face of the earth! Gary Bradley should also be considered as the luckiest landlord on the face of the earth because he is able to collect rent on the property he does not even own any more.

NOTE:
See Item #1 ?“A Donated Swimming Pool?” to find out WHEN and WHY we started owning the above property.

Gary Bradley -Smartest Developer


Circle C Developer, Gary Bradley, has made a tremendous amount of profit reselling lots to the builders. All the other developers have to account for COST OF LAND, but Gary Bradley does not have that cost because Gary acquired his Circle C land for ''free'' at the expense of the taxpayers. Gary Bradley borrowed $53 million to develop Circle C Ranch and the loan has never been repaid. Therefore, I consider Mr. Bradley the ''smartest'' and ''luckiest'' developer on the face of the earth!