6 collapse of the burden Met Mortgage
Federal regulatory authorities registered yesterday civilian indictment against six people for their roles in the collapse of Metropolitan Mortgage & Securities of Spokane, in spring 2004, one of the most important north-west financial scandals.
One of the six also faces criminal theirs.
The decline of mead and sister company Summit Securities left more than 10000 people in the northwest - many of them retirees or inexperienced investors - the participation of more than $ 600 million in value nearly debts and of preference shares.
The Securities and Exchange Commission charged the owner and former Chief Executive Paul C. Sandifur Jr. and three other Top business leaders and sister Met summit with 11 federal securities fraud, including the presentation of false balance sheets, the vagueness of conduct and involvement in books circular Real - Estate deals for a yield veneer.
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