The unexpected actions of the owner of the mysterious billion-dollar land near the US base.

The case revolves around a company called Flannery Associates, the entity that purchased a plot of land worth up to $800 million near Travis Air Force Base in Solano County, northeast of San Francisco, California.

Public records show that Flannery Associates began acquiring land to become the largest landowner near the base starting in 2018.

The Daily Mail reports that Flannery Associates is suing local farming families for $510 million in damages, alleging they "acted in contempt of federal and California state law" by inflating the value of the land they sold.

In the complaint, Flannery Associates claims it has evidence (including text messages and emails between the sellers) revealing that these individuals colluded to sell agricultural land at prices far above its market value.

Travis Air Force Base in California. Photo: Daily Mail

Congressman John Garamendi, a Democrat on the House Armed Services Committee, told NewsNation that he had spoken with families who sold land to Flannery Associates.

These people claim that they never wanted to sell the land to Flannery in the first place. John Garamendi said there was nothing compelling Flannery to accept the price they allege is above market value.

According to documents obtained by the Wall Street Journal from the U.S. Department of Agriculture, almost all of the land purchased by Flannery Associates is located in unincorporated areas of Solano County. Much of this land is zoned for agricultural use.

MP John Garamendi suggested the land acquisition was in fact part of a plan to bankrupt local farmers and questioned whether the land was being purchased by a group with ties to China. However, he stated that there was no direct evidence of a connection between Flannery and China.

Previously, a lawyer representing Flannery revealed to the Wall Street Journal that the company's owners were U.S. citizens and that 97% of its investment came from U.S. investors. The remaining 3% came from British and Irish investors.

Flannery Associates states that it is a wholly owned subsidiary of Flannery Holdings, a company registered in Delaware. Under Delaware law, limited liability companies registered in Delaware are not required to disclose the identities of their owners.

According to the Wall Street Journal, U.S. government officials are also investigating significant land acquisitions near the Travis base by Flannery Associates.

The U.S. Air Force's Office of Foreign Investment Risk Assessment investigated Flannery Associates' purchase of more than 20,000 hectares, including land surrounding Travis Air Force Base.

To date, investigations spanning eight months have failed to determine who is backing this group in purchasing land near Travis Air Force Base.

Travis Air Force Base is a strategically important base, serving as a gateway to the Pacific Ocean . The base provides aircraft for refueling other aircraft, and transports personnel, supplies, and ammunition around the world.

Source: https://nld.com.vn/thoi-su-quoc-te/hanh-dong-bat-ngo-cua-chu-khu-dat-ti-usd-bi-an-gan-can-cu-my-20230801171344727.htm