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BUSINESS
February 15, 1991 | JAMES F. PELTZ, TIMES STAFF WRITER
Property Mortgage Co., a major California mortgage broker, filed for reorganization under Chapter 11 of the federal bankruptcy laws Thursday, the firm's lawyer announced. The lawyer, Bernard Shapiro, told about 300 Property Mortgage investors and others packed into a Sherman Oaks hotel that the filing was required because of a "sudden and dramatic liquidity crisis."
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BUSINESS
June 26, 1992 | JAMES F. PELTZ, TIMES STAFF WRITER
The former executives of Property Mortgage Co. were accused of massive fraud and operating the Sherman Oaks-based mortgage broker as a Ponzi scheme by the trustee now running the company. The allegations were made in a civil suit in U.S. Bankruptcy Court in Los Angeles, where PMC recently underwent a 14-month reorganization. The suit seeks more than $100 million in damages. A major mortgage broker for 20 years, PMC arranged to lend cash largely to commercial real estate borrowers.
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BUSINESS
November 5, 1991 | JAMES F. PELTZ, TIMES STAFF WRITER
An investor in Property Mortgage Co. has filed a lawsuit against the bankrupt mortgage broker's executives, its banks and its accountants, alleging they conspired to help the Sherman Oaks concern operate a Ponzi scheme and sell unregistered securities that defrauded the company's several hundred investors.
BUSINESS
April 21, 1992 | JAMES F. PELTZ, TIMES STAFF WRITER
Property Mortgage Co., which abruptly collapsed into bankruptcy 14 months ago and left hundreds of investors with no way to retrieve their cash, has emerged from court proceedings and is about to mail the investors at least a portion of their money. An initial payout of $18 million is being sent this week to about 1,100 investors, many of whom live in the Los Angeles area.
BUSINESS
June 26, 1992 | JAMES F. PELTZ, TIMES STAFF WRITER
The former executives of Property Mortgage Co. were accused of massive fraud and operating the Sherman Oaks-based mortgage broker as a Ponzi scheme by the trustee now running the company. The allegations were made in a civil suit in U.S. Bankruptcy Court in Los Angeles, where PMC recently underwent a 14-month reorganization. The suit seeks more than $100 million in damages. A major mortgage broker for 20 years, PMC arranged to lend cash largely to commercial real estate borrowers.
BUSINESS
April 21, 1992 | JAMES F. PELTZ, TIMES STAFF WRITER
Property Mortgage Co., which abruptly collapsed into bankruptcy 14 months ago and left hundreds of investors with no way to retrieve their cash, has emerged from court proceedings and is about to mail the investors at least a portion of their money. An initial payout of $18 million is being sent this week to about 1,100 investors, many of whom live in the Los Angeles area.
BUSINESS
April 21, 1992 | JAMES F. PELTZ, TIMES STAFF WRITER
Property Mortgage Co., which abruptly collapsed into bankruptcy 14 months ago and left hundreds of investors with no way to retrieve their cash, is emerging from reorganization and is about to mail the investors at least a portion of their money. An initial payout of $18 million is being sent this week to about 1,100 investors, many of whom live in the Los Angeles area.
BUSINESS
September 10, 1991 | JAMES F. PELTZ, TIMES STAFF WRITER
When investors in Property Mortgage Co. were told that the company had run out of cash and entered bankruptcy proceedings, the news was shocking. After all, most of the about 300 investors jammed in a hotel ballroom in Sherman Oaks that night seven months ago had received regular interest checks from PMC. But there was nothing sudden about PMC's collapse, according to Ted R. Roth, an examiner appointed by the bankruptcy judge overseeing the Chapter 11 reorganization of the company.
BUSINESS
September 10, 1991 | JAMES F. PELTZ, TIMES STAFF WRITER
When investors in Property Mortgage Co. were told that the company had run out of cash and entered bankruptcy proceedings, the news was shocking. After all, the 300 investors jammed in a Sherman Oaks hotel ballroom seven months ago to hear what happened to their money had received regular interest checks from PMC. But there was nothing sudden about PMC's collapse, according to Ted R. Roth, an examiner appointed by the bankruptcy judge overseeing the Chapter 11 reorganization of the company.
BUSINESS
June 4, 1991
A bankruptcy court judge cleared the way for Property Mortgage Co. to ask the U.S. attorney's office to grant three PMC executives temporary immunity from criminal prosecution. PMC, a Sherman Oaks-based mortgage broker, and its affiliate, SLGH Investments, have been operating under Chapter 11 of the federal bankruptcy laws since Feb. 14, when they suffered a cash squeeze.
BUSINESS
April 21, 1992 | JAMES F. PELTZ, TIMES STAFF WRITER
Property Mortgage Co., which abruptly collapsed into bankruptcy 14 months ago and left hundreds of investors with no way to retrieve their cash, is emerging from reorganization and is about to mail the investors at least a portion of their money. An initial payout of $18 million is being sent this week to about 1,100 investors, many of whom live in the Los Angeles area.
BUSINESS
November 5, 1991 | JAMES F. PELTZ, TIMES STAFF WRITER
An investor in Property Mortgage Co. has filed a lawsuit against the bankrupt mortgage broker's executives, its banks and its accountants, alleging they conspired to help the Sherman Oaks concern operate a Ponzi scheme and sell unregistered securities that defrauded the company's several hundred investors.
BUSINESS
September 10, 1991 | JAMES F. PELTZ, TIMES STAFF WRITER
When investors in Property Mortgage Co. were told that the company had run out of cash and entered bankruptcy proceedings, the news was shocking. After all, the 300 investors jammed in a Sherman Oaks hotel ballroom seven months ago to hear what happened to their money had received regular interest checks from PMC. But there was nothing sudden about PMC's collapse, according to Ted R. Roth, an examiner appointed by the bankruptcy judge overseeing the Chapter 11 reorganization of the company.
BUSINESS
September 10, 1991 | JAMES F. PELTZ, TIMES STAFF WRITER
When investors in Property Mortgage Co. were told that the company had run out of cash and entered bankruptcy proceedings, the news was shocking. After all, most of the about 300 investors jammed in a hotel ballroom in Sherman Oaks that night seven months ago had received regular interest checks from PMC. But there was nothing sudden about PMC's collapse, according to Ted R. Roth, an examiner appointed by the bankruptcy judge overseeing the Chapter 11 reorganization of the company.
BUSINESS
June 4, 1991
A bankruptcy court judge cleared the way for Property Mortgage Co. to ask the U.S. attorney's office to grant three PMC executives temporary immunity from criminal prosecution. PMC, a Sherman Oaks-based mortgage broker, and its affiliate, SLGH Investments, have been operating under Chapter 11 of the federal bankruptcy laws since Feb. 14, when they suffered a cash squeeze.
BUSINESS
February 15, 1991 | JAMES F. PELTZ, TIMES STAFF WRITER
Property Mortgage Co., a major California mortgage broker, filed for reorganization under Chapter 11 of the federal bankruptcy laws Thursday, the firm's lawyer announced. The lawyer, Bernard Shapiro, told about 300 Property Mortgage investors and others packed into a Sherman Oaks hotel that the filing was required because of a "sudden and dramatic liquidity crisis."
BUSINESS
November 6, 1991 | JAMES F. PELTZ, TIMES STAFF WRITER
An investor in Property Mortgage Co. has filed a lawsuit against the bankrupt mortgage broker's executives, its banks and its accountants, alleging they conspired to help the Sherman Oaks concern operate a Ponzi scheme and sell unregistered securities that defrauded the company's several hundred investors.
BUSINESS
November 5, 1991 | JAMES F. PELTZ, TIMES STAFF WRITER
An investor in Property Mortgage Co. has filed a lawsuit against the bankrupt mortgage broker's executives, its banks and its accountants, alleging that they conspired to help the Sherman Oaks concern operate a Ponzi scheme and sell unregistered securities that defrauded the company's several hundred investors.
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