Bruce Fred Friedman

Investors cheered when they learned French police had arrested accused Southern California con man Bruce Fred Friedman in the seaside resort town of Cannes. But more than one year later, Friedman remains in France and the hundreds of investors in his alleged Ponzi scheme — authorities pegged it at $228 million — are beginning to wonder whether they'll ever see him in a U.S. courtroom. For more than 13 months, Friedman has opposed efforts to stand trial in Los Angeles. French courts have authorized his extradition to the United States, but the matter now awaits a final decision by the French government, said Thom Mrozek, a spokesman for the U.S. attorney's office in Los Angeles.

Former Sherman Oaks money manager Bruce Fred Friedman has died in French custody while awaiting extradition to Los Angeles on charges related to an alleged $228-million investment scam. An official at the U.S. Embassy in Paris confirmed Friedman's death Monday but declined to say when or how he died. Friedman, 62, had been in a French prison since his arrest there in 2010. Federal prosecutors in Los Angeles had accused Friedman of defrauding hundreds of people by promising to invest in real estate but instead spending it on luxury cars, expensive homes, jewelry and travel for himself.

Former Sherman Oaks money manager Bruce Fred Friedman has died in French custody while awaiting extradition to Los Angeles on charges related to an alleged $228-million investment scam. An official at the U.S. Embassy in Paris confirmed Friedman's death Monday but declined to say when or how he died. Friedman, 62, had been in a French prison since his arrest there in 2010. Federal prosecutors in Los Angeles had accused Friedman of defrauding hundreds of people by promising to invest in real estate but instead spending it on luxury cars, expensive homes, jewelry and travel for himself.

Investors cheered when they learned French police had arrested accused Southern California con man Bruce Fred Friedman in the seaside resort town of Cannes. But more than one year later, Friedman remains in France and the hundreds of investors in his alleged Ponzi scheme — authorities pegged it at $228 million — are beginning to wonder whether they'll ever see him in a U.S. courtroom. For more than 13 months, Friedman has opposed efforts to stand trial in Los Angeles. French courts have authorized his extradition to the United States, but the matter now awaits a final decision by the French government, said Thom Mrozek, a spokesman for the U.S. attorney's office in Los Angeles.

Sherman Oaks financial advisor Bruce Fred Friedman, who fled the country while under investigation for allegedly defrauding investors of hundreds of millions of dollars, has been arrested in France, a spokesman for the U.S. attorney's office said Tuesday. Friedman, 60, ran a $228-million Ponzi scheme in which he promised to invest in rental properties but instead diverted millions of dollars to himself, family and friends, FBI Special Agent Perry Woo said in an affidavit. The U.S. attorney's office charged Friedman on Sept.

A Sherman Oaks money manager accused of spending millions of his investors' dollars on a lavish lifestyle and high-profile charitable contributions agreed Tuesday to let a court-appointed receiver manage his companies' assets. Bruce F. Friedman has agreed to meet with the receiver that U.S. District Judge Manuel L. Real appointed to operate his companies, Diversified Lending Group Inc. and Applied Equities Inc., said a lawyer for the Securities and Exchange Commission, which is suing Friedman.

Sherman Oaks money manager Bruce F. Friedman spent investor money on luxuries such as a $255,000 Bentley Continental, $110,000 in Dodgers tickets and a $79,000 hotel bill in the Bahamas, according to court documents made public Friday. The Securities and Exchange Commission obtained an emergency order this week to temporarily freeze the assets of Friedman's two companies, Diversified Lending Group Inc. and Applied Equities Inc.

After she retired as a legal assistant, Patricia Hank took her financial planner's advice and invested her $300,000 retirement savings with Sherman Oaks investment manager Bruce Fred Friedman. It was an easy decision, she said. Friedman invested in income-producing real estate, had a long list of satisfied clients and was widely known for his charitable contributions. "I thought he was a pillar of the community," Hank said. "He was an upstanding guy who knew about property and how to buy and invest."

A federal judge in Los Angeles froze the assets Thursday of two Sherman Oaks companies owned by a convicted felon accused of stealing $17 million from investors and spending it on personal luxuries and high-profile charitable donations. The judge's order was sought by the Securities and Exchange Commission, which sued Bruce Fred Friedman, who heads two investment firms, Diversified Lending Group Inc. and Applied Equities Inc.

Sherman Oaks financial advisor Bruce Fred Friedman, who fled the country while under investigation for allegedly defrauding investors of hundreds of millions of dollars, has been arrested in France, a spokesman for the U.S. attorney's office said Tuesday. Friedman, 60, ran a $228-million Ponzi scheme in which he promised to invest in rental properties but instead diverted millions of dollars to himself, family and friends, FBI Special Agent Perry Woo said in an affidavit. The U.S. attorney's office charged Friedman on Sept.

After she retired as a legal assistant, Patricia Hank took her financial planner's advice and invested her $300,000 retirement savings with Sherman Oaks investment manager Bruce Fred Friedman. It was an easy decision, she said. Friedman invested in income-producing real estate, had a long list of satisfied clients and was widely known for his charitable contributions. "I thought he was a pillar of the community," Hank said. "He was an upstanding guy who knew about property and how to buy and invest."

A Sherman Oaks money manager accused of spending millions of his investors' dollars on a lavish lifestyle and high-profile charitable contributions agreed Tuesday to let a court-appointed receiver manage his companies' assets. Bruce F. Friedman has agreed to meet with the receiver that U.S. District Judge Manuel L. Real appointed to operate his companies, Diversified Lending Group Inc. and Applied Equities Inc., said a lawyer for the Securities and Exchange Commission, which is suing Friedman.

Sherman Oaks money manager Bruce F. Friedman spent investor money on luxuries such as a $255,000 Bentley Continental, $110,000 in Dodgers tickets and a $79,000 hotel bill in the Bahamas, according to court documents made public Friday. The Securities and Exchange Commission obtained an emergency order this week to temporarily freeze the assets of Friedman's two companies, Diversified Lending Group Inc. and Applied Equities Inc.

A federal judge in Los Angeles froze the assets Thursday of two Sherman Oaks companies owned by a convicted felon accused of stealing $17 million from investors and spending it on personal luxuries and high-profile charitable donations. The judge's order was sought by the Securities and Exchange Commission, which sued Bruce Fred Friedman, who heads two investment firms, Diversified Lending Group Inc. and Applied Equities Inc.