$6M in Fines Proposed For Sarbaz & Firm

Hume, Lynn
July 2004
Bond Buyer;7/19/2004, Vol. 349 Issue 31928, p1
Trade Publication
Reports that a federal judge in Los Angeles, California has found that Manouher Sarbaz and his company, Pacific Golf Community Development LLC, the developer of a residential golf course community, misled bondholders. Reason why there was very little chance that the golf course would ever be built; Judge's proposal that the court issue permanent injunctions against Sarbaz and Pacific Golf; Imposition of civil penalties against Sarbaza and Pacific Golf.


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