Pacific Private Money Investors Face Liquidity Crunch
California News Today | 2 Min News | The Daily News Now! · The Daily News Now!
Audio is streamed directly from the publisher (api.fastcast.ai) as published in their RSS feed. Play Podcasts does not host this file. Rights-holders can request removal through the copyright & takedown page.
Show Notes
Pacific Private Money, a real estate lender, is facing scrutiny from regulators after halting investor payouts, potentially leaving investors with significant losses. The company, managed by CEO Mark Hanf, stopped withdrawals in December, impacting investors life savings and retirement funds. U.S. Representative Jared Huffman has called for a probe into possible fraud, and the California Department of Financial Protection and Innovation has suspended the companys lending license. The Marin County District Attorneys Office is coordinating with the FBI to set up a victims portal and potentially appoint a court-supervised receiver to manage assets and recover funds.
Support the show:
Get a discount at https://solipillow.com/discount/dnn.
Advertise on DNN:
[email protected]
This is an automated, high-level news summary based on public reporting.
Report issues to [email protected].
View sources & latest updates:
https://sources.thednn.ai/4a1c31ba5b3b69e7