Investigation of Ponzi Scheme Continues - Receiver Files Update 12-06-06 in Federal Court.

On December 6, 2006, the receiver for the Securities and Exchange Commission, filed the "Receiver's Second Interim Report" with the U.S. District Court for the Eastern District of Texas, Sherman, Texas. The link to the full report is found here: Receivers 2nd Interim Report

Midway through the report the Receiver discusses how

" . . . . individual investors dealt with "facilitators" for the Bank Deposit Program (which has been determined to be a fraudulant Ponzi or piramid scheme). These facilitators were located through out the United States and acted as the intermediators between investors and Travis Correll/Horizon Establishment. The report says "Apparently, some facilitators had “sales agents” working on their behalf, while others did not. The monthly return paid by Correll/Horizon to facilitators varied, and it appears that there are differences in amounts paid by facilitators to the individuals who invested through them."

One of the largest facilitators identified was

" . . . . K.G. Sitton & Co. and its principal, Kerry G. Sitton who are not Defendants or Relief Defendants in this action. The Receiver expects to file suit against these and other Sitton-related entities. As the result of extensive negotiations involving Sitton, the Receiver and the SEC, the Receiver expects that Mr. Sitton and all affiliated entities will become part of this Receivership subject to the terms of the Receivership Order. "

Kerry Sitton, formerly a NCAA Division I basketball referree, was known to be a visitor to Lipan, Texas, where he had developed relationships with certain individuals. On one occassion, Mr. Sitton was met while eating at a local restaurant/grocery, and subsequently inquired about purchasing some land from a local family. At the time he gave no indication that he had involvement with the Bank Deposit Program.

Heard over the years, how to put this . . . . . A bit of a problem in Lipan Country is -

Some say that Lipan's school emphasizes basketball too much. You know, not everyone is inclined towards sports. So, what might be done? Is it just the limits of the school's current size or the need for more budget resources?

A recent graduate, actually a varsity starter, said to me, "there's more to life than basketball. After graduation, you've got to move on! That stuff was sooo high school." I cringed, but understood what he was saying. But, then he'd gotten the full benefit of being one of the "team." Anyone feel strong enough to reflect on the Pros and Cons? "Annonymous comments" work well in a situation like this.

I know one guy who clearly has his perspective skewed! For proof, go no further than WLJ's blog!

Lipan Country Rodeo Cowboys

If you set Google alerts to "Lipan, Texas", you will get sent emails whenever a Lipan news story hits the web. More times than not this summer, it has been rodeo related. This arrived today regarding team roper (header) Matt Tyler: Corkill, Tyler bag USSTC bonus
At ESPN.com, we find this pro rodeo biography

Others have been mentioned, particularly tie-down roper Randall Carlisle's name appears. Randall, everyone recalls, was All State 1A D2 from Lipan in 2005 and holds the national high school 3 point shot record! To the uninformed, now we're talk'in basketball!

For Randall, at ESPN's ProRodeo site you find his bio.

Fall Colors in Lipan Country !

Update on the Ponzi Scheme Fraud - July 2006

Since a number of Lipan Country individuals were swindled by, or were approached to invest in, the fraudulant World Bank Loan Program, the following update should be of interest. The Securities and Exchange Commission amended and updated their complaint on July 3, 2006, through the federal district court.

Text of the Amended Complaint

"Bean Store" a.k.a. Farmers Cooperative

Tim Sears sent this old photo courtesy of Juanita Windsor McCauley. Her dad, Walter Windsor, managed the Bean Store which was officially known as the Farmers Cooperative. City Hall is now located in the lower part of the building.

City Boy - Country Boy, In Balance?

"One final paragraph of advice: do not burn yourselves out. Be as I am - a reluctant enthusiast....a part-time crusader, a half-hearted fanatic. Save the other half of yourselves and your lives for pleasure and adventure. It is not enough to fight for the land; it is even more important to enjoy it. While you can. While it’s still here. So get out there and hunt and fish and mess around with your friends, ramble out yonder and explore the forests, climb the mountains, bag the peaks, run the rivers, breathe deep of that yet sweet and lucid air, sit quietly for a while and contemplate the precious stillness, the lovely, mysterious, and awesome space. Enjoy yourselves, keep your brain in your head and your head firmly attached to the body, the body active and alive, and I promise you this much; I promise you this one sweet victory over our enemies, over those desk-bound men and women with their hearts in a safe deposit box, and their eyes hypnotized by desk calculators. I promise you this; You will outlive the bastards." - Edward Abbey

Evergreen Cemetary at Sunrise

LVFD Fish Fry Sept 23rd.

Lipan Volunteer Fire Department Fund Raiser
Drawing for: Ruger Standard M77 Mark II. The winner gets to choose the caliber, and pick it up at Pigeon Road Gun Store in Stephenville, USA.

Drawing Sept. 23 at the Fish Fry Lipan Fire hall. Tickets $2 each 6 for $10.

Contact Richard Ator for more information: reator@lipan.net

Ator GU #1H Barnett Shale Gas Well being drilled east of Lipan

Devon's Ator GU (Gas Unit) #1H began being drilled Thursday by Felderhoff Bros' #4 Rig. Drilling will take 2 to 3 weeks.

Lipan Country Drilling Report

School Budget proposes $ ???,000 increase for "Repair" of Fund Balance. Stage set for a good school year!

On the new Lipan ISD website is posted the proposed 2006-2007 tax rate required to fund the school year budget .

After reviewing all this with Superintendent William Stokes regarding expected collections of state and local tax revenue, he is reasonably confident that a meaningful increase to the General Fund Balance will occur. Largely because bus fuel and electricity costs are such wild cards, the superintendent is reluctant to commit to a full $100,000 building of the depleted reserve fund. However, he anticipates the board will target over $50,000 in the final approved budget.

The current anticipated fund balance of $275,000 at the start of the September 1 fiscal year is half of what the state of Texas requires for Lipan ISD to be taken off their financial "watch list." With the Board's ongoing commitment, this deficiency should be removed over the next three school years rather than the next two as previously hoped.

As the school year is beginning, there are 285 students enrolled. This represents a small but encouraging increase over small declines seen in the recent few years. With the new high school facilities, the energy of a new superintendent, the seasoned leadership on the board, the improvement to the faculties' compensation, and the deep commitment of the Lipan Country community - all these factors combined set the stage for a positive new school year.

Anniversary of School Fire Approaches

First Baptist Church in Lipan said "WWJD?", and "Walked The Walk!"