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Summit Trust Co

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CALIFORNIA | LOCAL
April 24, 1994 | JAMES S. GRANELLI, TIMES STAFF WRITER
In a hilly section of this affluent town, William E. Cooper bought a 3,400-square-foot house in a gated community by raising money the same way he did in business. He got it from investors. Those who helped by lending him money were eventually paid back. But 8,000 investors are wondering if they will recoup $350 million they put into the labyrinth of companies under Cooper's First Diversified Financial Services in Irvine. Cooper's First Pension Corp.
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CALIFORNIA | LOCAL
April 24, 1994 | JAMES S. GRANELLI, TIMES STAFF WRITER
In a hilly section of this affluent town, William E. Cooper bought a 3,400-square-foot house in a gated community by raising money the same way he did in business. He got it from investors. Those who helped by lending him money were eventually paid back. But 8,000 investors are wondering if they will recoup $350 million they put into the labyrinth of companies under Cooper's First Diversified Financial Services in Irvine. Cooper's First Pension Corp.
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BUSINESS
April 29, 1994 | JAMES M. GOMEZ, TIMES STAFF WRITER
The Securities and Exchange Commission is investigating First Pension Corp., a bankrupt pension fund investment firm, looking for as much as $10 million known to be missing, the company's trustee said Thursday. Banking regulators reportedly have found at least $350,000 of the missing money in a Singapore bank, officials involved in the investigation said.
BUSINESS
April 29, 1994 | JAMES M. GOMEZ, TIMES STAFF WRITER
Banking regulators trying to track down as much as $10 million that disappeared from First Pension Corp. have traced some of the money to a Singapore bank, a lawyer familiar with the case said Thursday. James Joseph, the Los Angeles attorney who was appointed trustee for the bankrupt pension fund administration firm, said that regulators in Colorado have apparently found evidence of a wire transfer from "somewhere in Orange County" to Singapore in April.
NEWS
May 11, 1994 | MICHAEL A. HILTZIK, TIMES STAFF WRITER
Authorities investigating the bankruptcy of an Orange County pension management firm are looking into whether as much as $100 million in client funds may have been lost or misappropriated, according to law enforcement sources and others close to the case. The firm is Irvine-based First Pension Corp., which filed for liquidation under Chapter 7 of the U.S. Bankruptcy Code on April 22.
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