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Valley of Lakes RICO Class Action against PNCBANK, et al.
ripped edge: exhibits

Valley of Lakes Letterhead

June 17, 1992

Tom Marcheski, Treasurer, VOLCA 
(CW-72) Lake Valley Drive 
P.O. Box 275
Oneida PA 28242

Dear Mr. Marcheski:

It has been brought to my attention that Mr. Randy Galgon 
has made a number serious and untrue statements, as they apply 
to myself, the C.B.G. Limited Partnership and our operations in the 
conduct of our business.

These statements, which I believe to be libelous, were made willfully, 
knowingly and with malice.  In addition, I believe that he has been 
guilty of tortious interference in the Partnership's business and that 
his statements are harmful to myself, my family, C.B.G. Limited, our 
successful development of our property and assets and to the property 
owners who live here and have made substantial investments.

Finally, I have been made aware that he is and has been guilty of

This letter will serve to inform you that I am meeting with legal 
counsel to discuss the preparation of a suit seeking both compensatory 
and punitive damages, as well as a cease and desist order.

Mr. Galgon has stated that he is acting on behalf of the "Property 
Owners Association" and on at least one occasion, was accompanied by the 
President of VOLCA.  This letter is being directed to all board members 
of VOLCA seeking a written response as to whether or not Mr. Galgon was 
authorized by VOLCA to make such statements in their behalf.  Absent the 
receipt of signed individual responses from each board member, stating 
that Mr. Galson acted without board approval, our legal action will be 
directed against each individual board member of VOLCA.  I have no 
intention of suing innocent property owners.

Yours truly

Frank M. Cedrone
General Partner



1.  That I lied in my presentation at the first meeting of 

2.  That I did not have a bonafide lender commitment for 
    $3.5 million.

3.  That I have mentioned commitments in the past that were 
    bogus or false.

4.  That with the number of lots sold, there was a huge 
    excess of funds that C.B.G. pocketed.

5.  That the Federal Trustee took everything I said with 
    tongue in cheek.

6.  That I lied when I said I never received pay from any 
    other company affiliated with C.B.G. and in fact,
    received a pay from every one of them.

7.  That my income was guaranteed and I haven't missed a 
    check .

There are other alleged statements that are in the process 
of being verified.

Valley of Lakes RICO Class Action against PNCBANK, et al.

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