Advertisement
YOU ARE HERE: LAT HomeCollectionsA B Loan Co
IN THE NEWS

A B Loan Co

FEATURED ARTICLES
CALIFORNIA | LOCAL
April 6, 1989 | CHARISSE JONES, Times Staff Writer
A & B Loan Co., accused of racketeering in connection with financing some of Los Angeles' worst slum buildings, filed a motion Wednesday to have the lawsuit against it and more than 130 other defendants moved from Superior Court to federal court. Max Greenberg, an attorney for the Inglewood-based lending institution, and its co-owner, Alexander Spitzer, said a notice of removal was filed in U.S. District Court in Los Angeles.
ARTICLES BY DATE
CALIFORNIA | LOCAL
December 2, 1989 | PENELOPE McMILLAN, TIMES STAFF WRITER
The financier behind some of Los Angeles' worst slums has filed for bankruptcy protection from creditors, and a federal bankruptcy examiner has questioned the ability of his companies to fully pay an estimated $110 million in debts to investors and creditors. Alexander Spitzer, a central figure in the city's landmark lawsuit this year against slumlords and their lenders, filed Monday for protection under Chapter 11 of the U.S. Bankruptcy Code.
Advertisement
NEWS
July 22, 1989 | LAURIE BECKLUND, Times Staff Writer
An Inglewood lender who is a central figure in a landmark Los Angeles lawsuit aimed at the financiers of some of the city's worst slums has defaulted on about $90 million in loans from banks and has stopped making payments to investors in his companies, an attorney for the businessman confirmed Friday.
NEWS
August 1, 1989 | TRACY WOOD, Times Staff Writer
The portable telephone that Mordehai Ben-Horin perpetually grips in his right hand is not for show. Ben-Horin is a talker. Whether he's conducting a tour of the aging brick Cameo residential hotel, which he owns, or just holding a conversation, "Senor Ben," as he is known to his tenants, presses on nonstop. The one-sided discourse jumps from the philosophy of Socrates to the disdain his ex-wife feels for the architecture of low-income apartments.
CALIFORNIA | LOCAL
April 1, 1989 | LAURIE BECKLUND, Times Staff Writer
A lawsuit that charges Highland Federal Savings & Loan Assn. with conspiring with landlords to siphon profits from slums is "a bunch of hogwash--and you can put that in capital letters," the president of Highland Federal asserted Friday. "The city attorney made a mistake--a big mistake," Ben Karmelich said. "Highland Federal and myself are innocent of everything they charge."
CALIFORNIA | LOCAL
April 2, 1989 | JOEL SAPPELL, Times Staff Writer
Los Angeles Fire Department Inspector David Castaneda was asking a lot of coy questions, letting his eyes wander across desktops and snapping Polaroid pictures of the hired help, who were not smiling. From a back room in the cramped Wilshire Boulevard office of T.H.I.S. Corp., a man emerged, grabbed Castaneda's elbow and shoved him outside, slamming the inspector's arm against the door. Castaneda, dressed in uniform, managed to get a shot of him, too.
CALIFORNIA | LOCAL
December 2, 1989 | PENELOPE McMILLAN, TIMES STAFF WRITER
The financier behind some of Los Angeles' worst slums has filed for bankruptcy protection from creditors, and a federal bankruptcy examiner has questioned the ability of his companies to fully pay an estimated $110 million in debts to investors and creditors. Alexander Spitzer, a central figure in the city's landmark lawsuit this year against slumlords and their lenders, filed Monday for protection under Chapter 11 of the U.S. Bankruptcy Code.
CALIFORNIA | LOCAL
March 30, 1989 | LAURIE BECKLUND, Times Staff Writer
Almost all the 1,500 tenants are immigrants from Latin American or the children of immigrants. Few speak English. Many are infants. All are poor. Many appear to have little idea that they are plaintiffs in a massive lawsuit that was filed in their name Tuesday by the Los Angeles city attorney, the Legal Aid Foundation and a private law firm. Some of those who do are skeptical that it will improve their lot.
NEWS
March 29, 1989 | LAURIE BECKLUND, Times Staff Writer
Two lending institutions have been secretly controlling Los Angeles' worst slum buildings for nearly a decade through improper lending practices involving dozens of shell companies and front men, the city attorney claimed in a massive lawsuit Tuesday. The scheme, based on falsely inflated property values, has resulted in hundreds of thousands of dollars in rents being siphoned into lenders' coffers instead of paying for court-ordered building repairs, the suit alleges.
NEWS
August 1, 1989 | TRACY WOOD, Times Staff Writer
The portable telephone that Mordehai Ben-Horin perpetually grips in his right hand is not for show. Ben-Horin is a talker. Whether he's conducting a tour of the aging brick Cameo residential hotel, which he owns, or just holding a conversation, "Senor Ben," as he is known to his tenants, presses on nonstop. The one-sided discourse jumps from the philosophy of Socrates to the disdain his ex-wife feels for the architecture of low-income apartments.
NEWS
July 31, 1989 | LAURIE BECKLUND, Times Staff Writer
For more than a decade, many of Los Angeles' worst old slum apartment buildings have been commodities on an insider's trading block. While immigrant tenants live in squalor in the aging structures, behind-the-scenes investors have developed sophisticated financial devices that drain the buildings of thousands of dollars in cash rents and virtually condemn them to further decay. Those who stand to make the greatest profits do not need to step inside the door.
NEWS
July 22, 1989 | LAURIE BECKLUND, Times Staff Writer
An Inglewood lender who is a central figure in a landmark Los Angeles lawsuit aimed at the financiers of some of the city's worst slums has defaulted on about $90 million in loans from banks and has stopped making payments to investors in his companies, an attorney for the businessman confirmed Friday.
CALIFORNIA | LOCAL
April 6, 1989 | CHARISSE JONES, Times Staff Writer
A & B Loan Co., accused of racketeering in connection with financing some of Los Angeles' worst slum buildings, filed a motion Wednesday to have the lawsuit against it and more than 130 other defendants moved from Superior Court to federal court. Max Greenberg, an attorney for the Inglewood-based lending institution, and its co-owner, Alexander Spitzer, said a notice of removal was filed in U.S. District Court in Los Angeles.
CALIFORNIA | LOCAL
April 2, 1989 | JOEL SAPPELL, Times Staff Writer
Los Angeles Fire Department Inspector David Castaneda was asking a lot of coy questions, letting his eyes wander across desktops and snapping Polaroid pictures of the hired help, who were not smiling. From a back room in the cramped Wilshire Boulevard office of T.H.I.S. Corp., a man emerged, grabbed Castaneda's elbow and shoved him outside, slamming the inspector's arm against the door. Castaneda, dressed in uniform, managed to get a shot of him, too.
CALIFORNIA | LOCAL
April 1, 1989 | LAURIE BECKLUND, Times Staff Writer
A lawsuit that charges Highland Federal Savings & Loan Assn. with conspiring with landlords to siphon profits from slums is "a bunch of hogwash--and you can put that in capital letters," the president of Highland Federal asserted Friday. "The city attorney made a mistake--a big mistake," Ben Karmelich said. "Highland Federal and myself are innocent of everything they charge."
CALIFORNIA | LOCAL
March 30, 1989 | LAURIE BECKLUND, Times Staff Writer
Almost all the 1,500 tenants are immigrants from Latin American or the children of immigrants. Few speak English. Many are infants. All are poor. Many appear to have little idea that they are plaintiffs in a massive lawsuit that was filed in their name Tuesday by the Los Angeles city attorney, the Legal Aid Foundation and a private law firm. Some of those who do are skeptical that it will improve their lot.
NEWS
July 31, 1989 | LAURIE BECKLUND, Times Staff Writer
For more than a decade, many of Los Angeles' worst old slum apartment buildings have been commodities on an insider's trading block. While immigrant tenants live in squalor in the aging structures, behind-the-scenes investors have developed sophisticated financial devices that drain the buildings of thousands of dollars in cash rents and virtually condemn them to further decay. Those who stand to make the greatest profits do not need to step inside the door.
BUSINESS
May 20, 1994 | From Associated Press
The state's accounting board has sought to revoke or suspend the license of Arthur Andersen & Co., the world's biggest accounting firm, for what it calls negligence in auditing Lincoln Savings and two other companies. Irvine-based Lincoln was seized in 1989 at an ultimate cost to taxpayers of $3.4 billion, America's costliest thrift failure. Charles H. Keating, the chairman of its Phoenix-based parent company, American Continental Corp., is serving a 12-year prison sentence for fraud.
NEWS
March 29, 1989 | LAURIE BECKLUND, Times Staff Writer
Two lending institutions have been secretly controlling Los Angeles' worst slum buildings for nearly a decade through improper lending practices involving dozens of shell companies and front men, the city attorney claimed in a massive lawsuit Tuesday. The scheme, based on falsely inflated property values, has resulted in hundreds of thousands of dollars in rents being siphoned into lenders' coffers instead of paying for court-ordered building repairs, the suit alleges.
Los Angeles Times Articles
|