Velur Enterprises, Inc. complaints

In 2008 I was contacted through an acquaintance about an investment opportunity in California. We were living at that time in San Diego and we attended a personal presentation where they served us refreshments and presented this not to be missed opportunity of landbank investment in Lancaster California. After perusing the information supplied we decided to visit the on-site area of sale. We drove to the site via Palmdale where a lunch was purchased at a restaurant. Then we drove over to the site for sale. All the while we were bombarded with information Palmdale as an example of the potential growth factor of Lancaster, touting the prices that the Palmdale land had risen to. WHAT SOLD ME ON THIS: Brochures and details of two huge Lancaster housing developments approaching the sale site were indicated. The lot being sold as being very desirable plus on a corner of two intersecting roads. The land site was 2.4 acres price as above. The salesman said it had a potential of $1,000,000. Willing to wait for these developments to reach the site boundary I waited and waited, here we are at 2022, 14 years later, all we see are fields of solar panels surrounding our site. Obviously not a major housing track as was indicated in their sales brochure. Currently buyers have offered a max of $5,000 a pittance of what Velur said it was going to be worth. My belief is that Velur knew the housing tracks were not going to happen and sold this knowingly under false presen Resolution Sought I have lost land taxes over the last 14 years. Recently I have been able to obtain a reduction in taxes due to the plummeting land value. I feel I was scammed but would be willing to simply accept what I paid Velur for this land just to get my money back and put it to better use. I am not looking to make a killing on this but would just like my retirement money refunded in good faith.

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Velur's lawyer never attended a sales pitch so I fail to see what his point of refer to files are. One knows you attend a sales presentation to listen & ask questions of their rep. I have 12 pages of colored maps plans & description of the 2.4 acres with the original folder that was given by Mr Paras, Velur's sales agent. We I attended a sales pitch in San Diego. At a later date Mrs.Tran joined us to a Palmdale restaurant to meet Mr Paras & visit the land site. Mr Paras touted the growth factors of Lancaster would be similar to Palmdale & LA expansion would move towards Lancaster as LA had no more land to expand. Mr Paras cited the area we were at in Palmdale had many properties smaller than what was being sold to have reached over $1,000. A map that showed the 2.4 acre lot located on corner of Ave G2 & 107 St W. was given. This was touted as very desirable as it was located 1.5 ml NW of Westview Estate shown being built & 2blocks W. of Del Sur Ranch approved project. This was touted very desirable as it was located 1.5 ml NW of Westview Estate shown being built & 2blocks W. of Del Sur Ranch. In 2020 Mrs Tran tired of paying taxes on a loosing property gave up her share to me.

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