June 28, 2016
Home / Articles / News / Local News /  Show Him the Money
BRIEFSWEB

Show Him the Money

In Brief

October 6, 2010, 1:00 am

Railyard Company LLC, whose suspect dealings have been well-chronicled in these pages, now has to contend with its own in-house disorder.


On Sept. 30, company shareholder Allen Branch, who owns a 26 percent stake in Railyard Company, sued the company for failing to perform an internal audit of its finances, and charged company managers Steven Duran and Rick Jaramillo with “making distributions of Company funds to themselves in violation of the operating agreement, state statute and their fiduciary obligations.”


According to the suit, Branch pressed Duran and Jaramillo to open up their books to see where the money was going—profits, losses, income, expenses, reimbursements, payments to Duran and Jaramillo. They refused.


 “We’re just trying to get a vehicle to get some information,” Branch’s lawyer Ronald VanAmberg tells SFR. “And I think there’s some cooperation here that has been shown.” In other words, Railyard Company, VanAmberg says, seems willing to resolve the fracas outside of court. (No one from Railyard Company could be reached for comment.)


Railyard Company is no stranger to the legal system: In May 2010, it threatened to sue the City of Santa Fe if the city didn’t lease office space on city-owned land. In 2009, Jaramillo was sued for child support, and has had police called to his house for a domestic disturbance.

 

comments powered by Disqus
 

Morning Word: Wildfire 100 Percent Contained

Morning Word Officials are monitoring a 3-mile area near the Santa Fe watershed but say the fire that burned 7.6 acres is now out.  ... More

June 27, 2016 by Peter St. Cyr

Fire Starts in City Watershed

Major resources on tap to fight fire that began Thursday in the Santa Fe Watershed

Local News A small wildfire has ignited in the Santa Fe Municipal Watershed, just upstream of McClure Reservoir and in the wilderness portion of the watershed.  ... More

June 23, 2016 by Elizabeth Miller

Newsletters

* indicates required
Choose your newsletter(s):

@SFReporter on Instagram

 

 
Close
Close
Close