Judge rejects USA Capital case settlement

Edwards, John G.
January 2009
Las Vegas Business Press (10712186);1/26/2009, Vol. 26 Issue 4, pP15
The article reports that the settlement agreement between investors and USA Capital has been rejected by U.S. District Judge Robert Jones. In April 2006, the mortgage broker failed with $962 million in investments under its management. Majority of the investors voted against investment firm Silar Advisor's proposed settlement despite negotiations conducted by Tom Grimmett, a receiver representing the investors.


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