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Metropolitan Mortgage

In January 2004, Metropolitan Mortgage declared bankruptcy, taking down with it the fortunes of many investors who placed their trust in the decades-old Spokane company.


Stories


  • Thu., June 7, 2007

    Turner says he obeyed his boss

    SEATTLE – Former Metropolitan Mortgage & Securities Co. executive Thomas Turner testified in his criminal trial Wednesday that he was only doing the bidding of his boss, C. Paul Sandifur …


  • Sat., June 2, 2007

    Former auditor grilled by ex-Met executive’s lawyer

    SEATTLE – Metropolitan Mortgage & Securities Co.’s former auditor Jack Behrens once told the U.S. Securities and Exchange Commission that he thought just about everyone in the defunct Spokane company …


  • Fri., June 1, 2007

    Auditor testifies Metropolitan needed ‘extra attention’

    SEATTLE – Ernst & Young LLP charged Metropolitan Mortgage & Securities Co. a hefty $1 million each year for auditing services, betting its reputation that it could handle a firm …


  • Thu., May 31, 2007

    Met Mortgage auditor says exec misrepresented sale

    SEATTLE – Metropolitan Mortgage & Securities Co.’s financial auditors counseled executives of the Spokane company again and again about special accounting rules designed to prevent financial fraud, one auditor testified …


  • Wed., May 30, 2007

    Testimony begins in Met exec fraud trial

    SEATTLE – Federal prosecutors called a former executive of Metropolitan Mortgage & Securities Co. a liar who schemed to mask losses at the Spokane financial conglomerate by deceiving auditors. The …

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