Testimony: Land Price Inflated By $1 Million

Witness says everyone involved in the transaction agreed to the inflated price
RISMEDIA, Jan. 11 (KRT) A real estate agent who wrote one of several contracts on a 2002 land deal being disputed in Weld District Court testified last week that the price was inflated by $1 million, though money never changed hands.

Nolan Ulmer, testifying for the case’s plaintiff, David Calvin, said that everyone involved in the transaction agreed to the inflated price, which was set at the direction of defendant Rod Guerrieri.

“Rod wanted to do $1.3 million for appraisal purposes to get the value (of the land) where he needed it,” Ulmer said. “We were all present at the conversation, and $1.3 million was not the price. The real price was $11,000 an acre.”

Calvin has claimed that a real estate deal to buy 32.5 acres owned by Grant and Roxane Moen in west Greeley became a pawn in Guerrieri’s deception to steal $1 million dollars from him and his company, BCG LLC. Put simply — though the case is riddled with different contracts, written and oral agreements, acreage, prices and explanations — the Moens sold their land to BCG in December 2002, receiving $278,948 at closing. Calvin, meanwhile, believed he had already paid them $1.3 million in the deal, which was brokered through Guerrieri, acting as an agent of BCG.

A year later, Moen revealed to Calvin’s attorney, Keith Crouch, the amount he received at closing, which prompted claims of theft and fraud against Guerrieri. Later, the Moens stated they actually closed on the property for $1.45 million, but gave $1 million of the difference between that and the closing money in a loan to Guerrieri, though neither they nor Guerrieri ever discussed it with anyone and repayment terms were never written down.

Guerrieri has countered that Calvin hijacked BCG from him and never fully paid for 98,000 shares.

In testimony Friday, Grant Moen said the loan was always a part of the deal.

In cross examination by Guerrieri’s attorney, Don Goulart, Ulmer agreed that he was calling the Moens and Guerrieri liars, though in an earlier sworn statement, Ulmer said the Moens were trustworthy people.

Goulart attempted to discredit Ulmer, who in 1997 wrote a bad check for $30,000 and a more recent dispute with Guerrieri over another land deal in which Goulart said Ulmer lost $800,000. Ulmer disagreed.

The trial continues Monday, when Calvin is expected to finish his case. Guerrieri is expected to begin his case against Calvin on Monday afternoon.

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