February 2008, Reported by the Fresno Bee. “A lawsuit filed by investors in the defunct Running Horse golf course and residential development has accused two real estate agents and a title company of illegal activities related to what the lawsuit called a ‘leveraged pyramid scheme’ set up by the original partners behind the project, Tom O’Meara and Scott Webb.”
“The lawsuit, while making allegations against O’Meara, Webb and Running Horse LLC, does not name them as defendants.”
“Instead, the lawsuit accuses Fresno real estate agents Kathy Gee and Linda Ann Ulm of negligence and unjust enrichment in their dealings with those Alameda County investors on behalf of Running Horse LLC. The lawsuit also accuses Stewart Title of California of negligence and misrepresentation in failing to monitor the transaction.”
“James Cai, the San Jose-based attorney bringing the lawsuit, said in a phone interview that his clients’ allegations indicate that O’Meara and Webb were ‘just in the business of taking people’s money and trying to cover up their scheme of developing some fancy golf club that will never materialize.’”
“Cai said he did not name O’Meara and Webb in the suit because both men have filed for bankruptcy protection. But Cai called the two men’s behavior ‘highly questionable.’”