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.

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News > Business

Suits accuse Met Mortgage of Ponzi scheme, fraud

Wed., Jan. 21, 2004

Investors accused Metropolitan Mortgage & Securities Inc. of fraud and filed two lawsuits Tuesday to recoup hundreds of millions of dollars from the troubled Spokane firm.

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Met defers more securities payments

Tue., Dec. 30, 2003

The financial challenges facing Metropolitan Mortgage & Securities Co. Inc. deepened Monday as payments on more company securities were suspended, state officials took control of insurance subsidiaries, and the American Stock Exchange began the process of delisting its stock.

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Metropolitan Mortgage shuts down brokerage

Tue., Dec. 16, 2003

Metropolitan Mortgage & Securities Inc. shut down its brokerage firm Monday after punishing fines and restrictions rendered it a liability.

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Documents

Metropolitan Mortgage disbursement letter