{"id":8411,"date":"2009-03-05T15:15:04","date_gmt":"2009-03-05T23:15:04","guid":{"rendered":"http:\/\/lukeford.net\/blog\/?p=8411"},"modified":"2009-03-05T15:15:04","modified_gmt":"2009-03-05T23:15:04","slug":"la-jewish-philanthropist-indicted-for-fraud","status":"publish","type":"post","link":"https:\/\/lukeford.net\/blog\/?p=8411","title":{"rendered":"LA Jewish Philanthropist Indicted For Fraud"},"content":{"rendered":"<p><A HREF=\"http:\/\/www.jewishjournal.com\/swindlerslist\/item\/move_over_madoff_la_gets_its_own_indicted_philanthropist_20090305\/\">The Jewish Journal reports<\/a>:<\/p>\n<p>Sherman Oaks-based mortgage banker Bruce Friedman, whose <a target=\"_blank\" title=\"Friedman Charitable Foundation\" href=\"http:\/\/www.friedmanfoundation.com\/\">Friedman Charitable Foundation<\/a> committed $10 million to the <a target=\"_blank\" title=\"Children&rsquo;s Museum of Los Angeles\" href=\"http:\/\/www.childrensmuseumla.org\/\">Children&rsquo;s Museum of Los Angeles<\/a> and <a target=\"_blank\" title=\"$1 million to Brandon&rsquo;s Village\" href=\"http:\/\/www.jewishjournal.com\/community_briefs\/article\/calabasas_evens_playing_field_for_specialneeds_kids_20061020\/\">$1 million to Brandon&rsquo;s Village<\/a>, a special-needs park in Calabasas, was indicted on securities fraud charges today by the Securities and Exchange Commission.&nbsp;<\/p>\n<p>The <a target=\"_blank\" title=\"SEC allege\" href=\"http:\/\/www.sec.gov\/litigation\/litreleases\/2009\/lr20926.htm\">SEC alleges<\/a> Freidman, along with his two companies&mdash;<a target=\"_blank\" title=\"Diversified Lending Group\" href=\"http:\/\/sites.lenderlab.com\/home.php?PID=4365&amp;FUNCTION_ID=38871&amp;VisitorTracker=&amp;backo=0\">Diversified Lending Group<\/a> (DLG) and <a target=\"_blank\" title=\"Applied Equities, Inc\" href=\"http:\/\/www.appliedequities.com\/\">Applied Equities, Inc<\/a>. (AEI)&mdash;perpetrated a $216 million real estate investment fraud, raising money from hundreds of investors nationwide, many of whom are seniors, promising guaranteed high returns via real estate investments.<\/p>\n<p>The complaint alleges that Friedman diverted substantial investor money to ventures unrelated to real estate, and misappropriated at least $17 million to support his lavish lifestyle, including purchases of a luxury home, cars, vacations, jewelry, and designer clothing for himself and an alleged girlfriend.<\/p>\n<p>The SEC has frozen DLG&rsquo;s, AEI&rsquo;s and Friedman&rsquo;s assets.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Jewish Journal reports: Sherman Oaks-based mortgage banker Bruce Friedman, whose Friedman Charitable Foundation committed $10 million to the Children&rsquo;s Museum of Los Angeles and $1 million to Brandon&rsquo;s Village, a special-needs park in Calabasas, was indicted on securities fraud &hellip; <a href=\"https:\/\/lukeford.net\/blog\/?p=8411\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[2603],"tags":[16596,16597,16598,14993,14504,11173],"class_list":["post-8411","post","type-post","status-publish","format-standard","hentry","category-fraud","tag-bruce-friedman","tag-investor-money","tag-lavish-lifestyle","tag-real-estate-investment","tag-real-estate-investments","tag-securities-and-exchange-commission"],"_links":{"self":[{"href":"https:\/\/lukeford.net\/blog\/index.php?rest_route=\/wp\/v2\/posts\/8411","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lukeford.net\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lukeford.net\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lukeford.net\/blog\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lukeford.net\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8411"}],"version-history":[{"count":0,"href":"https:\/\/lukeford.net\/blog\/index.php?rest_route=\/wp\/v2\/posts\/8411\/revisions"}],"wp:attachment":[{"href":"https:\/\/lukeford.net\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8411"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lukeford.net\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8411"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lukeford.net\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8411"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}