Arrow-right Camera

Tags


Everything tagged


Sort by:

Stories tagged: Metropolitan Mortgage


  • Settlement squeezes out a bit more Met money

    C. Paul Sandifur Jr., the former chairman and chief executive officer of Metropolitan Mortgage & Securities Co., will pay $23,000 to investors in the bankrupt company as part of a …


  • New settlement in Met suit

    A $38 million settlement proposed Tuesday in the Metropolitan Mortgage & Securities Co. class action lawsuit would help several thousand investors recoup some losses from Spokane’s largest business collapse. Investors …


  • Met Mortgage creditors get 2 more cents on the dollar

    More checks are in the mail for creditors of bankrupt Metropolitan Mortgage & Securities Co. This third round of partial payouts splits about $10.4 million among 15,500 people who held …


  • Amid cleanup dispute, project could have new developer

    An $8 million legal dispute has erupted over the bill to clean up pollutants at Kendall Yards, the stalled housing and business project along the north bank of the Spokane …


  • Ex-Met officer has filed Chapter 7 papers

    Thomas Masters, a former Metropolitan Mortgage and Securities Co. executive implicated in one of the fraudulent real estate schemes that unraveled the firm, has filed a $26 million personal bankruptcy …


  • Sandifur to pay $150,000 settlement

    C. Paul Sandifur, the former chief executive officer of bankrupt Metropolitan Mortgage & Securities Co., will pay $150,000 to refund investors and settle allegations that he improperly paid himself dividends …


  • Met class action suit advances

    A class action lawsuit involving more than 6,000 Metropolitan Mortgage & Securities Co. investors is moving toward trial in 15 months.


  • Met investors to get $45 million

    About $45 million is set to be distributed to investors of Metropolitan Mortgage and Securities Inc. at the end of next week. It will be the second repayment following the …


  • Second Met payout planned

    A long-awaited cash distribution to investors of bankrupt Metropolitan Mortgage and Securities will be mailed in late July.


  • Met’s insurance affiliate sold

    Another chapter of the Metropolitan Mortgage & Securities Co. debacle nearly closed Thursday as the state receiver sold the defunct company’s largest asset – insurance affiliate Western United Life Assurance …


  • Court approves sale of Met affiliate

    A $55 million deal to sell a Metropolitan Mortgage & Securities Co. insurance affiliate received court approval Friday. It remains unknown how much cash from the sale of Western United …


  • Met insurance deal struck

    Insurance Commissioner Mike Kreidler has struck a $52 million deal to sell the key insurance affiliate of bankrupted Metropolitan Mortgage & Securities Inc. The agreement, pending court approval, would end …


  • Creditors want control of Met affiliate

    Saying the state has mismanaged a former insurance affiliate of bankrupt Metropolitan Mortgage & Securities Co., creditors have asked a judge to force Washington Insurance Commissioner Mike Kreidler to relinquish …


  • Met trust and accounting firm settle

    The Metropolitan Mortgage & Securities Co. investors’ trust has reached a settlement agreement of about $30 million with an accounting firm accused of making mistakes that led to the company’s …


  • CEO’s ex-wife to pay $325,000 settlement

    Helen Sandifur, the ex-wife of Metropolitan Mortgage & Securities Co.’s chief executive, will pay $325,000 into a special trust to refund investors in the bankrupted company under a settlement disclosed …


  • Met investors win key reversal

    Burned Metropolitan Mortgage & Securities Co. investors will have their day in court against a big auditing firm they accuse of professional negligence. They have a shot at a potential …


  • Met investors’ hopes fade

    Some legal efforts to win money from deep-pocketed companies that audited Metropolitan Mortgage & Securities Co. are failing, potentially dashing the hopes of thousands of investors who looked to those …


  • Business in brief: SEC, Met Mortgage settlements approved

    A federal judge has approved settlements between the U.S. Securities and Exchange Commission and several Metropolitan Mortgage and Securities Co. figures, ending the agency’s sprawling legal action. C. Paul Sandifur …


  • Sandifur, SEC settle

    Disgraced Metropolitan Mortgage & Securities Co. figure C. Paul Sandifur Jr. will pay about $151,000 to settle allegations that he masterminded fraudulent commercial real estate deals that backfired into an …


  • Met’s Turner gets 2 years

    SEATTLE – A federal judge sentenced former Metropolitan Mortgage & Securities Co. executive Thomas Turner to prison for two years, saying that Turner shouldn’t be held solely accountable for the …


  • Met figures agree to deals

    Key figures in the Metropolitan Mortgage & Securities Co. accounting scandal have reached deals to settle costly lawsuits filed by the U.S. Securities and Exchange Commission. Among them: C. Paul …


  • Adelphia deal may hearten Met creditors

    A settlement requiring auditing firm Deloitte & Touche to pay $167.5 million to a special trust recovering money for Adelphia Communications Corp. creditors provides some buoyancy to the difficult task …


  • Turner convicted in Met case

    SEATTLE – A federal jury convicted former Metropolitan Mortgage & Securities Co. executive Thomas Turner of three felonies Friday morning. It took the jury several hours to reach its guilty …


  • Trial of ex-Met exec goes to jury

    SEATTLE – Former Metropolitan Mortgage executive Thomas Turner is either a scapegoat for shoddy and negligent auditing work, or a sophisticated white-collar criminal.


  • 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 …


  • 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 …


  • 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 …


  • 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 …


  • 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 …


  • Met trial set to begin

    The criminal trial of a leading executive of defunct Spokane financial conglomerate Metropolitan Mortgage & Securities Co. begins Tuesday in Seattle, three years after the company filed for bankruptcy amid …