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Pursuing
foreclosure
on PSA
dorm
By Linda Lemmon
Town Crier Editor
PUTNAM — The second legal action against the owners of the Putnam Science Academy took a giant step late last week, moving on foreclosing on one of the academy’s buildings.
In the first legal action, May 30, in a stipulated agreement granted by a Connecticut Superior Court judge June 4, a Massachusetts foreign corporation was awarded a judgment of more $6.5 million against the owners of the academy. Raise Crest Education Inc. was awarded the $4,800,000 it lent D&M Group, LLC d//b/a as Putnam Science Academy and PSA Education Inc. starting in 2019. The 8 percent interest on that figure totaled another $1,690,958.91, plus costs of $3,964.25 plus related attorney’s fees of $52,750.50 for a total of $6,547,673.66.
Raise Crest Education Inc. operates New England Innovation Academy, a Massachusetts foreign corporation founded in January 2022. The founder, treasurer and trustee is listed as Raymond Chang. It operates a school in Massachusetts.
May 30, the judge approved an order for prejudgment remedy that Raise Crest can attach to the value of $4.8 million the following estate of PSA Education, Inc.: 72 Church St., 15-23 and 29 Marshall Street and 55 Gilman St.
There was also a second action and that one, last week, is moving to foreclosure on 55 Gilman St. A lis pendens was filed at Town Hall May 29. The plaintiff is listed as Shichao Zhang and the defendants are D&M Group, LLC, PSA Education, Inc. Xiaoqing Yuan, Yanqin (or Yanquin) Ding, Yuan Liu, Xiaohong Yan, the IRS ($300,000) and Raise Crest Education Inc. The civil action, returnable to superior court June 25, was brought to foreclose real estate taxes and sewer usage liens in favor of Shichao Zhang. It lists the real estate affected as: 85 Pomfret St., 55 Gilman St.
The case type of Zhang’s suit is “pending foreclosure sales” for 55 Gilman St. A motion for default for failure to appear was lodged in Superior Court June 28 saying Plaintiff Shichao Zhang “hereby moves that a default enter against the defendants, D&M Group LLC, PSA Education, Inc. Department of the Treasury-Internal Revenue Service and Raise Crest Education Inc. for their failure to appear.”
Those defendants who did file an appearance (self-rep) are Xiaoquing Yuan of Weston, Mass., Yanquin Ding of Weston, Yuan Liu of Weston and Xiaohong Yan of Beijing, China.
Yuan and Yanquin Ding are listed as the treasurer and president, respectively of Lion Education Co. Ltd, a Massachusetts Domestic Profit Corporation filed in June 2018. Yanqin Ding is also listed as the registered agent for Lion Education.
According to Putnam Town Assessor records, 55 Gilman St. is listed as a dormitory and the total appraised parcel value of 55 Gilman St. is $1,551,300.
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