Posted 6/10/2013 12:00 am
Updated 6 months ago
Four of the original 15 investors in the Waterview Meadows residential development have gone by the wayside, and a new face joined the mix.
The financial freefall and legal troubles of Gene Cauley led the once high-flying lawyer’s exodus from the ownership picture. His courtroom woes culminated in an 86-month sentence in 2009 for stealing more than $9 million from a client trust.
In addition to Cauley, three homebuilders also left the Waterview Meadows investment group.
Ronnie Gage of Ron Gage Construction Inc. was found dead after a one-vehicle accident on Dec. 12, 2009. Some believe Gage, 67, suffered a heart attack that caused the crash on Highway 300, which leads to the gated entry for Waterview Estates and Waterview Meadows.
Jon Lewis of Lewis Home Builders Inc. and Robert Boyles Jr. of Robb Boyles Construction Co. both filed for Chapter 7 bankruptcy on June 18, 2010.
Lewis listed nearly $2 million in assets and $16.6 million in debts. Boyles listed assets of $402,754 and debts of $11.4 million.
Rick Ferguson took over Cauley’s position, while the stakes of Gage, Lewis and Boyles were reallocated among various Waterview Meadows investors. Another homebuilder, Oscar Washington, joined the group about four years ago.
Besides Ferguson and his dad, Randy, other remaining original Waterview Meadows investors include homebuilders Mike Kuhn, Mark Baker, Bill Parkinson, Carl Henson, Thomas Chambers, Bret Franks, Richard Harp and Chuck Hamilton.
According to the bankruptcy petition of Robert Boyles, each of the original 15 members started with a 6.66 percent share in Waterview Meadows LLC.