Dryer drops settlement plan - Silicon Valley / San Jose Business Journal:

Dryer drops settlement plan - Silicon Valley / San Jose Business Journal:: "Lawyers for Fredric 'Rick' Dryer say that pending criminal charges have forced the founder of Mile High Capital Group LLC to withdraw a plan to purchase some of the beleaguered real estate investment company's assets and settle claims from investors. In a document filed last month with the U.S. Bankruptcy Court in Denver, Dryer's attorneys said he had intended to borrow $1.1 million to purchase certain assets of the Mile High estate and settle 'a number of outstanding issues.' But after Mile High trustee John Smiley called for a Sept. 5 hearing to discuss Dryer's proposed settlement plan, Dryer's attorneys said he couldn't testify in court about the plan because doing so also would mean waiving his Fifth Amendment rights against self-incrimination. Dryer decided not to seek the loan and to forgo the settlement plan. Lawyers for Fredric 'Rick' Dryer say that pending criminal charges have forced the founder of Mile High Capital Group LLC to withdraw a plan to purchase some of the beleaguered real estate investment company's assets and settle claims from investors. In a document filed last month with the U.S. Bankruptcy Court in Denver, Dryer's attorneys said he had intended to borrow $1.1 million to purchase certain assets of the Mile High estate and settle 'a number of outstanding issues.' But after Mile High trustee John Smiley called for a Sept. 5 hearing to discuss Dryer's proposed settlement plan, Dryer's attorneys said he couldn't testify in court about the plan because doing so also would mean waiving his Fifth Amendment rights against self-incrimination. Dryer decided not to seek the loan and to forgo the settlement plan. "