Comment on Real estate exec turned prosecution witness says firm used new investors' money to pay earlier backers

Real estate exec turned prosecution witness says firm used new investors' money to pay earlier backers

With their income dwindling and millions of dollars in bank and investor loans coming due, the owners of Irvine-based Pacific Property Assets concocted a plan in late 2008 to salvage their financially “fragile” apartment investment firm. They...

 

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