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Real Estate Investors

Bellingham, WA: (Oct-29-07) The US Securities and Exchange Commission (SEC) brought a civil complaint against Trillium Corp. and its founder and former president, David Syre, alleging that the company took part in a 2002 real estate transaction with a Spokane investment firm that later went bankrupt and left thousands of investors in the lurch. Records show that the SEC filed the civil suit more than two years ago against Syre, Trillium, and others involved in the complex real estate transaction with Metropolitan Mortgage & Securities Co., of Spokane. Metropolitan was once a highly regarded insurance and real estate firm. It collapsed into bankruptcy in February 2004, leaving close to 10,000 investors with losses estimated at $450 million.

As part of a settlement reached, a US District Court judge ordered that Trillium would pay $75,000 and Syre would pay $50,000 to resolve the dispute. [BELLINGHAM HERALD: REAL ESTATE INVESTORS]


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Published on Oct-30-07

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