April 13, 1993 |
At least once a week, Stacy Jones can expect to find in her mailbox a letter concerning the saga of Hill Williams Development Corp. The missives began in January with the company's abrupt announcement that it had halted monthly dividend checks to its investors. A series of vague updates followed, ending with notification that Hill Williams had filed for liquidation. Then came an onslaught of correspondence from attorneys offering to represent the jilted investors in lawsuits.
April 21, 1995 |
Hill Williams Broker to Pay $23.3 Million: Investment broker David A. Colton willfully defrauded investors in the failed Hill Williams Development Corp., helping founder Donald Hill Williams to bilk investors out of $90 million, an Orange County judge ruled in a decision released Thursday. Superior Court Judge William F. McDonald ordered Colton, an Irvine businessman who has filed for personal bankruptcy, to pay $23.3 million in damages to 1,065 investors. McDonald also awarded plaintiffs $15.
October 6, 1999 |
An administrative law judge has banned David Colton, an Orange County developer who was a principal figure in one of Orange County's costliest real estate scams, from being involved in any securities business in the state. The state Department of Corporations sought the ban after Colton allegedly failed to comply with a court order in 1995 to repay $23 million to investors in the Hill Williams Development Corp., which he helped promote. The operation collapsed in 1993.
March 8, 1995 |
Investors Win Case Against Hill Williams: A U.S. Bankruptcy Court judge ordered former real estate developer Donald Hill Williams to pay $20 million to the investors, who lost about $90 million in the now defunct Hill Williams Development Corp. of Anaheim. Judge John E. Ryan's decision settled a lawsuit filed by about 900 mostly elderly plaintiffs who said Williams defrauded them in land investment schemes.
March 13, 1993 |
Hill Williams Development Under Investigation: Orange County's supervising deputy district attorney for major fraud, Pete Huelfenbeck, said his Santa Ana office is assisting the U.S. Postal Inspection Service in an investigation of Hill Williams Development Corp. For more than three years, the Anaheim Hills company collected nearly $90 million from about 5,000 investors, claiming that the money would be used to build and sell houses.
September 22, 1994 |
Donald Hill Williams Jr. acknowledged Wednesday in U.S. Bankruptcy Court here that several members of his family were on the payroll at his now-failed development company, that his mother lived in a company-owned house in Utah and that he continued to view Southern California's real estate market with optimism even as it teetered on the edge of collapse. But the founder and former president of now-bankrupt Hill Williams Development Corp.