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Pacific Golf Community Development
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September 25, 2004 | From Bloomberg News
A federal judge ordered a California real estate developer and its manager to pay $5.9 million in penalties for misleading municipal bond investors about the prospective value of a project, the Securities and Exchange Commission announced Friday. U.S. District Judge Cormac J. Carney ordered Pacific Golf Community Development and its manager, Manoucher Sarbaz, to pay $4.9 million and $980,000, respectively.
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BUSINESS
September 25, 2004 | From Bloomberg News
A federal judge ordered a California real estate developer and its manager to pay $5.9 million in penalties for misleading municipal bond investors about the prospective value of a project, the Securities and Exchange Commission announced Friday. U.S. District Judge Cormac J. Carney ordered Pacific Golf Community Development and its manager, Manoucher Sarbaz, to pay $4.9 million and $980,000, respectively.
