Former Maverick County Financial Advisor Southwestern Capital Markets, Inc. files Petition to take deposition of County Treasurer Rito J. Valdez III, before lawsuit

By: Jose G. Landa, Copyright 2015, Eagle Pass Business Journal, Inc.
Former Maverick County Financial Advisor Southwestern Capital Markets, Inc. (“SCM”) of San Antonio, Texas filed a “Petitioner’s Verified Petition to take Deposition Before Suit to Investigate Potential Claims”  in the 365th Judicial District Court in Maverick County, Texas on June 23, 2015, requesting the Court to issue a subpoena to take the deposition of Maverick County Treasurer Rito J. Valez, III, “to assist it with its evaluation of potential claims.”

Maverick County Commissioners Court held a special meeting on Monday, June 29, 2015, at 5 P.M. to consult with legal counsel  in Executive Session regarding the Verified Petition to take the Deposition of Maverick County Treasurer Rito J. Valdez, III, filed by Southwestern Capital Markets, Inc.

According to Southwestern Capital Markets, Inc.’s petition, Southwestern Capital Markets, Inc. “performed work pursuant to an executed Financial Advisory Agreement with the Maverick County Public Facility Corporation (“PFC Agreement”) which the Maverick County Public Facility Corporation (“PFC”) counsel confirmed would remain in effect through March 5, 2015.  On March 9, 2015, the Maverick County Treasurer [Rito J. Valdez, III] processed a check to pay SCM’s PFC Fianancial Adviosry (“PA”) invoice for prior work under the PFC Agreement upon the Maverick County Auditor validating that invoice as a proper item of expenditure and accruing that invoice in the payment system.  On April 21, 2015, the Maverick County Auditor delivered correspondence to the Maverick County Treasurer explaining that the invoice had been validated as a proper item of expenditure and it was accrued in the payment system on the same day.  To date, however, the Maverick County Treasurer has not performed his statutory duty by processing the check to pay this SCM PFC PA invoice, although the Treasurer has to continued to process checks to pay invoices from other companies that were submitted after SCM’s invoice.”

The petition further states that Southwestern Capital Markets, Inc. seeks Maverick County Treasurer Rito J. Valdez, III’s “deposition in order to investigate any potential claims it may have.”

The petiiton alleges that SCM seeks to depose Maverick County Treasurer Rito J. Valdez, III, regarding the failure by the Maverick County Treasurer’s Office since April 21, 2015, to process the check to pay SCM’s invoice after receiving correspondence from the Maverick County Auditor’s Office confirming its validity and the invoice’s accrual in the payment system; the handling by the Maverick County Treasurer’s Office of other PFC Detention Center related expenses since April 21, 2015, with respect to the availability of funds to process checks as well as the checks that have been processed to pa other invoices; and to evaluated potential claims it may have against Maverick County Treasurer Valdez, the Maverick County Public Facility Corporation, and any other PFC Officer or Board of Director due to the PFC forfeiting its corporate charter and existence under Texas law.

The petition also alleges that its seeks the Court to issue a subpoena to Maverick County Treasurer Rito J. Valldez, III, so Valdez can produce documents at the deposition concerning the review by the County Treasurer’s Office of SCM’s January 2015 PFC FA invoice since April 21, 2015; any communications, including emails or texts any PFC officers or directors regarding SCM’s January 2015 PFC FA invoice; any communications, including emails or texts, with any Maverick County officials or staff regarding SCM’s January 2015 PFC PA invoice; and invoices accrued and checks processed by the Maverick County Treasurer’s Office to pay other PFC Detention Center related expenses from April 21, 2015 to May 31, 2015.

The petition further requests the Court to set this matter for hearing at least 15 days after service of this Petition to Valdez and to grant this request by setting a date to take the oral and video deposition of Maverick County Treasurer Rito J. Valdez, III, and require County Treasurer Valdez to produce the documents requested by SCM.

The Maverick County Public Facility Corporation Board of Directors include President-Commissioner Roberto Ruiz, Vice-President Sheriff Tom Schmerber, Secretary-Commissioner Rosy Cantu, Treasurer-Maverick County Human Resources Director Jesus Sanchez, Commissioner Jose Luis Rosales, Commissioner Gerardo “Jerry” Morales, and County Judge David R. Saucedo.

Former legal counsel of the Maverick County Public Facility Coroporation was Poncho Nevarez and current legal counsel is Woody Wilson of the Law Office of Luis Vera of San Antonio.

Southwestern Capital Markets, Inc. is represented by Ronald E. Mendoza of Davis, Cedillo & Mendoza, Inc. law firm from San Antonio.